Loading…
Auto-generated; may contain errors.
Loading transcript…
Hello and welcome to the show today. I'm not in the audio booth, so I expect to hear interruptions in the background. We are going to continue with what I've been doing for the past 2-3 days and that is on effective prospecting. Of course prospecting is just looking for people who might be interested in your product or your service. And of course, we're going to continue with the case study. We've been using the fictional case study of a 10 year post call lawyer can't remember what we called her yesterday.
So today let's call her Adenica Obiajulu and yeah, so we're going to continue with that today. Oh, by the way, yes, the reason why I'm calling her Adenica Obiajulu is because I've been on a high life kick recently on Spotify and I'm currently listening to Celestin Uku and that's some really good stuff, like correct Pami music. So if you'd like to try out indigenous homegrown music, high life, this is before the civil war, then Celestine Ogu and some real good stuff.
All right, so we're supposed to be talking about effective prospecting. Also a shout out today, we're going to shout out Sheriff. He is the owner of wise as he the a tech and car sales company and he's been a listener of the podcast since November of 2023 and he reached out to me on WhatsApp. So we have a few conversations going. So thank you very much Sharif, for listening to the podcast and for and for reaching out.
And I do appreciate, you know, you guys, you know, you know, the Ogs, those of you who've been listening for, you know, well over a year at the very least, because because the podcast is growing in popularity. I'm getting I think on Spotify, I think I'm getting maybe like 40 or 50 new subscribers every single week. So, yeah, there are a bunch of either just discovering the show for the first time. But, you know, shout out to you Ogs and shout out to Sheriff.
Now, back to the topic of the day, which is effective prospecting. Now, we've defined prospecting in the past as just trying to figure out who might be interested in your product or your service. We need to know who are they? We need to also figure out where are they, because if we figure out where they are, we know how it is that we're going to go and reach them. So where are they online? Where are they offline? And then if we can do these two things and we can come up with a plan for how to start the conversations productively, we shall be fine.
So sales is a difficult yes, but The thing is if you start off on the right note, which is prospecting who might be interested in my product or my service, just use some common sense, use some creativity, sit down, just brainstorm or use these AI tools or go on Google, you know, talk to moms and popsy talk to somebody Shah, you'll be able to drop a list and say, OK, for this kind of business, the people that might be interested might be 123456.
Next thing you're trying to figure out where these people where do they hang out online? Where can I find them in the real world? Where can I find them? So you know, it just makes business a whole lot easier. So if you sit down and where do they hang out online, you don't know, but in the real world, you know that they attend Christian Mother Fellowship. Then problem solved is a matter of trying to see how can I enter into Christian Mother Fellowship so I can sell my goods.
It's that simple. Then, of course, you don't need to come up with a plan for how to start the conversations effectively and productively. All that is what we call prospecting and that is how we should start off the sales journey, no matter which business it is that we're trying to build. And that is why we're illustrating this with our fictional lawyer, our baby lawyer at DNA Care, Obia Julu. That's all called her today.
She's been practicing law for 10 years and our guy has been paying her, you know, like 120 K every month and she's fed up and she thinks, look, this is absolute rubbish. I've been in this firm for the last 10 years. I have been the head of different groups or committees that has listed four of our biggest clients on the Nigerian Stock Exchange and have introduced different kinds of investment products to the market. So I'm tired, I'm fed up.
I have the expertise, I have the skills. I'm going to go out and do things on my own. And then Adeni Kelbia, Julie just goes and submits a resignation letter. Yeah. And then she wakes up on Monday and then she's like, OK, So what do I do? So if you're on your be a Julie situation, this is what you do, effective prospecting. That's the first thing that you need to do. So in yesterday's episode, in answering the question who might be interested in the product or the service, The answer that we came up with is obviously you can start talking to fintech Bros and fintech sisters, people who are in the startup space,
investment banks, brokerages, whether it's crypto brokerage or stock brokerage, you know, brokerage are depending on what of your Julie's in interested in identity is interested in. Then we also suggested that identity of your Julie should also look start talking to people who are as in asset management and in wealth management. So yesterday that is how we answered the question who might be interested in this protocol service.
Then again, excuse me, I also mentioned on the podcast yesterday that even though my first background was in law, I've been out of this place for a very long time, to be honest. My wig and gown that's, you know, that the black thing that makes us look like a masquerade with the funny cap. Actually, it's a wig. It's not a cap. I haven't worn that thing in I think 20 years. I don't even know where my own is actually. In fact, if you just graduated law school recently and you and I are the same size because I'm I'm about 6/1 and 130 kilograms.
So if you're a fairly robust guy like me then hit me up. My wig and gown is available. Might as well come and buy my own. Mine is an authentic EADS and Ravencroft was bought in the UK so some nice good level stuff. So just hit me up. I might as well just come and take my own instead of going to go and buy a new one at these prices. Especially since my own has been barely fairly used because I think I used it while the whole year that I was in Kano.
But since I left camera I haven't used it. So baby lawyers, especially if you're a big dude like me, hit me up. Well if you're a big lady as well, hit me up. You know the whole thing is unisex, so no problem. Where was I? So what I was trying to say is that so I was saying on the podcast that look, I've been out of this world for a very long time. So if you're a lawyer listening to this podcast and you think that's some of the advice that I'm giving identity care or be a Julu or anybody in this circumstance is not correct.
Like the kind of clashes you'll be running after. Please hit me up, send me a message, you know, let me know so I can come and you know, take dressing address the thing over here on the podcast also, because like I keep saying, sales is not a one person will know everything, you know, So my specialty is in coming up with the frameworks and the strategy when it comes to the particulars, like trying to guess which kind of client is the best person to run after.
You know, I may be wrong because nobody knows everything. So just let me know. If you are a lawyer listening to this particular episode and yesterday's episode and there's something that I've said that you disagree, please join the conversation. My contact details 08064662140. The country code is +234. For those of you who are not Nigerian, that's my WhatsApp number. You can reach out to me just like Sharif did. Then I'm on LinkedIn as Tavishima Aidi.
You can also find some of my stuff on YouTube as well. So that's what we did yesterday. Then we also agreed yesterday that as part of prospecting now as identity has drawn a list of companies, a list of fintechs, list of startups, investment banks, brokerages, asset firms, you know, Stanbic IBTC wealth management, you know, let's see what else you know, like Access Bank, wealth managers and pension something, something she has written down.
Now who list? Now the next thing she has to figure out is, OK, in this big company, who am I going to go and talk to? Because you can't prospect by, you know, just addressing the whole building. You know, you guys go to the building and start talking to one or two people. Or if you're going to look on LinkedIn, you know, you have to start messaging one or two people. So that's how you enter an account. So the target people that we came up with yesterday are the CEO, the CFO as the chief financial officer, the general counsel.
General counsel is just a big lawyer. Let me just put it with big lawyer in the in the in the company who handles all the legal stuff, compliance officer. Compliance officer is the internal person who is trying to make sure that everything, all the legal matters are in check. Even though people have internal compliance officers, it doesn't stop them from hiring consultants from time to time. So that is where you identical will come into the picture.
Then the head of the legal department, you know, blah, blah, blah, you know, people like that. Those are the kind of people that will be a jewelry should be getting in touch with. So you write that down on a sheet of paper. Now remember what I said at the top of the episode, that effective prospecting, we're trying to just tackle 3 main things. Number one, who might be interested in my product or my service and then he can be Ajulu, she said.
Now she wrote it. Yeah, where are they and, or where are they or who are they? And she has also written name of the organization and everything. And she has dropped a list of officers and maybe she hasn't gone to LinkedIn self to now go and look at specific people so she can start coming up with a hit list, people that should tackle. Because it's one thing to say, OK, I'm going to go and meet the CFO of Stanbic IBTC. OK, that's a good goal.
But do you know who the fella is or who the baby is? You have no idea. So that's where LinkedIn and all these things come up. So you do LinkedIn, do some small, small search. Well, first of all, you can do Google who is the CFO of Stanley Guy BTC, a bunch of names will show up. You know, from there, begin to refine the search and then you enter LinkedIn and see. Now this is the reason why I'm telling you guys that look, for those of you who are selling to other businesses, I hope you're beginning to see why you should be on LinkedIn 'cause I think still it boggles my mind how I
will meet somebody in Nigeria who is selling business to business in 2025. And some people have never even heard of LinkedIn. One guy was even telling me the old was your linked as in linked like the guy as in obviously he has never even heard of the thing before. It is when I typed it and I sent it to him. That was the first time of him hearing it. Then when we're talking a word for his, say you're linked, LinkedIn, please LINKED then IN.
If you're selling business to business, you need to be on this thing. You don't have to. It's a good, if nothing else, it's a good research tool. If you do corporate hampers, these kinds of things, you're based in Lagos or Abuja, you need to be on LinkedIn. So if you want to target Access Bank for instance, in Ikeja or something like that, from doing small Google search, you will get some names. The names you can now be able to look at LinkedIn, you know, be able to confirm one or two things.
That is how you can walk up to the branch and say, oh, good morning, Mr. Adekuna around. So yes, he is hopefully just tell him that Nikki is here to see him. Nikki from so, so, so and so. I mean, that's a bullshit approach. I mean, yes, because nice if you call them ahead of time to fix a meeting. But you know, with courage and confidence now we pull some of these things off. I mean, I've done it a few times. Just walk up to the door saying,
oh, hello, Colleen. Oh, just tell him Tavishima is here to see him. So he expecting you and say, oh, no, he's not. But it's concerning the so, so, so, so, so, so, so matter. I say, OK, security guard, open the gate. You enter. You made progress, you've entered the building Shah, you know, the rest is up to you. So please, everybody, especially those of you who are selling business to business, I beg you guys won't open the LinkedIn profile.
It's 2025, all right? Where was I? So who am I interested where they might be? So now what we're going to tackle today. Now the main thing I'm going to tackle today is how to start these conversations, because now we have a list, we have like 1015 companies on that list. Each of those companies have like 2233 people that want to start having conversations with. The main thing we're trying to figure out today is as part of effective prospecting, how are we going to start this conversation now before we start this conversation, we also need to do small brainstorming again.
We also need to sit down again. If before you sat down with momsy, popsy husband, boyfriend. If I remove boyfriend from the picture, discuss your husband only. Your boyfriend's out of this for now. Maybe when he has proposed and he has taken his uncles to go and see your father, then you cannot start consulting him on these things. So you've now come up with a list of talking points. The first thing we need to do is now come up with a list of talking points or conversational frameworks.
Because the problem is lots of us heading to networking scenarios or walking into somebody's office or meeting them for the first time and then we're just freestyling. We're just talking about things cold. Don't wait until you're face to face with the prospect or with the stakeholder. And then you now start thinking about what to say on the spot. I have done it myself and we all do it. But it's not good because and it Iraq's your brain.
That's the reason why sometimes you go for small networking session one hour and then you're tired. Of course you're tired 'cause you didn't go there with your framework. You spoke to 10 people. With each person you have to think of everything to safe or fresh. It's mentally tasking now. It's hard. So we need to agree on some of these talking points ahead of time before we meet these people, before we go for the networking, before we go into the office.
It makes it easy for us. We're relaxed, we already know two or three things we could talk about and the conversation will just be flowing naturally. So don't wait until you're face to face with these people. Call with some talking points ahead of time. So all I put it now and what we need to do there is not anything too complicated. You just need broad strokes or bullet points or conversation starters, you know, per person or per groups of people.
So you don't have to come with a list to say when I am in front of the CFO for access, this is what we'll discuss. Then when I'm with the CFO for Stambic IBTC, this is what we'll discuss. Just give some broad strokes cause chances are whatever it is that you find to talk to that is relevant to one CFO, that's chief financial officer will probably be applicable for all chief financial officers that you meet. The order of the conversation will change.
The turn of the conversation will change, but the broad should still be there. So these are some things that I came up with. So #1 navigating complex regulations. What that just means is you're thinking of starting a business. What does the Investment and Securities Act say? What does CBN regulations say? What of Ministry of Finance regulations? These are good conversations that Identity Care or Be a Julu can be having with people who are in the fintech space and who are in the startup space.
So if she goes networking, like there's this thing in Abuja that they call Founders Friday or something like that in Lagos, Abuja, I think in Kaduna, I think it's called Founders Friday, where people who have startup ideas and then people who are looking to invest and things like that, people go for those meetings so badly. She can go for that meeting and at the back of her head, she just knows navigating complex regulations, that's what's ringing in her head.
So that by the time she's talking with somebody and the person says this is my startup idea, blah, blah, blah, blah, blah, she's like, oh, that sounds really interesting. Tell me about this, Tell me about this, tell me about this. And the person talks and talks and talks and talks and talks. And then in her mind, the thing just clicks. Navigating complex regulations. Oh, this aspect of what you want to do. Have you thought about the fact that you might have to apply to the CBN for this particular license or that particular license?
The person would say, really, what do you mean to say? Yes, CBN regulation section, this section, not people who provide this and that and that need to something something this and this and this person be like, wow, OK, I never heard that before. So yeah, it's actually a very fascinating topic and it's something that would help with your with your startup. You know what, can I have your business card? Oh, I don't have business card.
I give you my phone number. OK, Sure. No problem. Take my phone number. OK, So will you be free? Tuesday morning, 10:00. I can come by office so that we can discuss this particular aspects some more and see how the thing affects your startup. If you've had that kind of conversation, don't you think that guy will say, Oh yeah, sure, no problem, come by the office. And what do you think? It's a no brainer because he's been going around at this networking event talking to everybody about his brilliant startup idea or her brilliant startup idea and everybody has been saying, wow, fantastic,
wow, fantastic, clapping for him. And you are the first person who said, oh, this is fantastic. But for this particular thing, have you thought about CBN regulation, blah, blah, blah that you have to comply with and these are the after effects and this is how we put you at risk or this is what you need to do, comply. As far as he's concerned, you're the only person that has made sense this whole evening because everybody has been glad for him saying, wow, great idea, wow,
great idea. But for you, you've given him something concrete, valuable and insightful. Of course you would take that meeting. So that's the beginning of how we begin to enter small, small, small. By the way, baby lawyers, all we can see now how you can be entering the market and your distinguishing factor does not have to be price. For some people, that is the only value proposition they can think of. If you're going with a senior advocate, senior advocate, the senior advocate will charge you 20 million.
Me, I'm willing to do this thing for you for 8 million. Look, it's a no brainer and I'll pick me. You can see how now you can start entering accounts small, small, small. And you're coming with a greater value proposition than price than price. This is the reason why I say because when people keep saying, oh, price, price, price, price, price, price. This is the reason why I say like you are the person who is causing the problem.
You're not adding any insight into the situation, you're not adding any value into the situation. So the only way that the person can judge you is just on price alone. So if this guy everybody has been clapping for, he meets 3 or 4 lawyers at that event and at that networking event none of the lawyers say anything that makes sense. Of course you rank all of you the same and just pick the cheapest. But if he meets 5 lawyers that day and he's only identical by Ajulu, that says something like this.
Of course you think well now you know she will now stand apart in his mind now, OK, there was that brilliant female lawyer that I met that day. What's her name? I can't remember. I can't remember. I hope she calls me and then you happen to call and it's like, oh fantastic, I've been waiting for your call. Sorry I didn't store your number and maybe we'll not have a fruitful conversation. Anyway, let me move on. So #1 navigating complex regulations, that is what I came up with.
So that as Obia Julu Athenica is going around networking or walking into people's offices, she's always thinking about those things that people in the startup space, she's thinking investment and securities as ACT, CBN regulation, Ministry of Finance regulation, any other regulation. That is one conversation point, Another conversation point that I came up with. Oh, by the way, like I said, lawyers, because you know, now we're talking technical.
Those of you who are practicing lawyers, if there's anything here that I'm saying that doesn't make sense, I beg reach out to me. Contact number 08064662140. Country code is +234. That's my WhatsApp number. There's anything that I'm saying that doesn't make sense or is outdated or has been superseded by a new law, Let me know so I can come over here and tell people that look, please, dear listeners, what I said in episodes, this is also is no longer correct because of 123
and 456. So. Another talking point and I I put down was mitigation risk when raising capital because people who are in brokerage firms and who are in wealth management who who manage other people's money, you know, sometimes you don't know that you try and do something one way and you now put yourself in immediate biggie. You put yourself in immediate yower. You do something that you didn't that looks like is common sense,
but you didn't know that it was illegal. So when Obiajulu Adenica is going around and talking to people who are in the banking space or the brokerage space, especially you people who are coming up with crypto brokerages because a lot of you are doing stuff that you don't know is illegal or you don't know is allowed or you don't know that might be unethical. She can be having conversations with these people while networking or while doing content marketing.
Content marketing, you know, putting up stuff on LinkedIn, making videos or maybe appearing on podcast. So mitigating risk is something she could be talking about now. Oh, yes. Oh, your wealth management products, blah, blah, blah. I saw on I saw on this blog on this, this on that, not this new product that you're rolling out on. Something, something, something. Oh, by the way, I'm just curious, have you complied with regulation?
This, this is not basically a regulation. What? Tell me more. Say, yes, there's regulations also, so it's not really known, but it's something that while I was in legal practice under my Olga, this last 10 years is something that we came up time and time again when we're packaging the products for this bank, for this bank, for this bank. See, this is a way of you showing credibility now that even though you might look like a baby lawyer, that you know,
you don't stay in the field. You've been 10 years and you've worked on 4 prominent cases. You know, I'm not a fan of name dropping and stuff like that, but you know, there are times where you can do it class in a very classy manner and this is one of those times. So you can bring it up. Mitigating risk. Yes, you're putting together this product, putting together this offering, putting together this, whatever. But you know, have you paid attention to this and this?
If you don't pay attention to this and this, these are the liabilities that might crop up later. You can say that is also a very insightful thing to do. And of course, that kind of thing, just like I said with the first example now, Oh, like, by the way, I'd love to hear some more about this product. You know, see if there's any way that my friend, can be of value to you and your clients. You know, will you be available Friday morning?
I'm going to be around the catcher around that time. You know, can I just drop in for a chat? You see, this is how you now secure meetings. All right, then #3 OK, I now wrote evolving, understanding the evolving regulatory landscape. OK, that's big ground. What? It's just what it means. Nigeria is part of something called the Commonwealth. The Commonwealth are a group of countries that used to be that have been colonized by Great Britain.
So Commonwealth involves countries like Niger, Canada, Ghana, India. I don't know if America is part of the Commonwealth. Akt if you're listening, please Fact Check me. Let me know if America is part of the Commonwealth. Malaysia, you know, you know all these countries now. So those are Commonwealth countries. Now. The thing that we Commonwealth countries have in common is this, since our colonial overlord used to be Great Britain, certain aspects of our laws flow from derive from legal principles and practices that used to happen in the UK.
So sometimes you have broad similarities between what happens in Nigeria and what happens in India, whether it's our business law or our criminal law. In principle you have some, I mean the actual laws itself, you know, might be different, but in principle you have some correlation as in they flow together and put it that way. So that's one reason why sometimes some financial developments start in America. Before you know it, people in UK
will copy it. Before you know it, people in Niger will copy it. Or some developments might start off in India, excuse me, Before you know it, Bangladesh, them they will copy it. Before you know it, Malaysia will copy it. Before you know it, Niger will copy it or some developments will start in Niger and before you know it Ghana, them they will copy it. And before you know it Botswana, them they will copy it. So it's like that.
So that's how it happens, that's how it rose. So when you're talking, when Adenica Obia Julie is now talking to people in the, in the, what are they called now? The regulatory, the regulators, If she's meeting with people from Securities and Exchange Commission or she meets somebody who happens to work in CBN or she meets somebody who happens to work in Ministry of Finance, these are the kind of things that they can be talking about how the regulatory landscape is changing.
So also, so you work in CBN. Oh, that's fantastic. What department? OK, you're in charge of this and this and that and that. Oh, please tell me more. And then you listen to what the guy or the girl has to say. They say, oh, that sounds really, really fascinating. But have you thought about this in America, the landscape is changing. They are now be doing this, this, this and that that that the person will say, hey, tell me more.
We say yes. It's something that we came up with back when I was working with my law, my under my yoga the last 10 years that I was there. And we face it in this case and in that case, and I think it's something that Nigerian regulators you should be paying attention to. You leave that kind of networking session, You leave that kind of interaction with the person. The person will say this babe is bright, This babe is for thinking this babe should go school.
This babe is very correct. In fact, in some other situation, the regulator is the person that will say, oh Madame, I hope you don't mind. Can I have your number? So baby lawyers in particular, if I know just baby lawyers, baby lawyers, baby accountants, who else? Baby architects, all the guys that we need to see. You know how we start distinguishing ourselves, setting ourselves apart. And you see why I keep saying on the on the podcast that those of you who are worried about distinguishing yourself from the competition, if you want to do it, just make sure you have a rock solid sales process.
The solid sales process in itself is going to distinguish you from all the competition that is out there. So prospecting, we've looked at who might be interested for Adenica. We figured out where they are. We've got a place of the people and we now come up with a broad framework for cycling the conversations. So since we have done close to 30 minutes, let me just bring it to a close here and then we'll pick up from here tomorrow.
That's how to start the conversations. Just be in mind that when I said conversations, I was thinking of sometimes networking session, sometimes putting things on social media, sometimes walking into somebody's office to have a meeting. So we'll flesh it out from there tomorrow. So if you'd love to connect just like Sheriff did, the phone number is 08064662140. The country code is +234. And that's my WhatsApp number as well.
Please don't send me Telegram. I don't. I checked out there maybe like once every three months. Then the name to look for on LinkedIn if you want to connect. And please, my Nigel brothers and sisters is not linked. All right, so you want to connect on LinkedIn. The name is Tavishima IED. You can also find my stuff on YouTube in case you don't buy the podcast because this is where thing like my brother, for instance, my brother likes podcasts, but he will not listen to a podcast on a podcast player.
He will always go to YouTube. And then I tell the guy that, look, you open this thing on YouTube and you don't even watch the video. You just leave it playing in the background. Like what's the point? Just go and subscribe on the podcast. And he keeps telling me that no, YouTube is best. YouTube is best. Now my wife does that thing too. So you people that listen to podcasts on YouTube, I don't understand you because unless if you pulled up the video and you sit down, you're watching the video, you put the video and then you now want to start watching clothes or doing something else and you'll be listening to the audio.
You might as well just listen to the podcast. But anyway, that's a quarrel for another day. So thanks for your time and attention. I'll catch you guys at the next episode.