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Hello and welcome to the podcast. Today I want to share a conversation that I had with a podcast listener and it was a rambling one. We spoke about a number of things touching on business finances, let's see when to start a new business, you know, all these sorts of things. So there's nothing here that is specifically sales and business development related per SE, but I thought it was a good enough general conversation that let me just come over here and share the conversation just in case there are other people who are struggling with some of these issues that this young lady might be struggling with.
This is your first time of listening to the podcast. My name is Tava Shima Ayede, I'm your host. I'm a former lawyer turned business consultant. And if you like any of the things that we talk about over here on the podcast, subscribe because these are the kinds of things that we talk about every other day. So subscribe on Spotify, on YouTube, on Apple or any player of your choice. And if you'd love to connect with me, you can call, send me a text message via WhatsApp message on 08064662140.
Then also apologies, this is going to be a noisy episode because it's a Sunday. And for those of you who are regular listeners, you know, now the kids are at Catfism classes. So I'm just outside here in the parking lot in the church trying to get some work done while waiting for them to finish. So let's head straight into it. So this lady reached out and she said, good afternoon. Listen to your podcast on Spotify. OK, So she wanted to text.
She's a student. She's been running a business. And she think her businesses end up that they crumble mostly because mostly due to financial mismanagement, because she's getting quite a bit of cash from the business. But then she uses that to sort out business problems. Then she doesn't want that problem anymore. And so because of that, she's planning on starting a cleaning business. She'll be selling liquid soap, you know, blah, blah, blah.
And she asked for advice on how on better ways to manage her finances and to grow her business. OK, two things. I say it a lot on the podcast that my area of specialty is sales and business development. So if you do reach out to me and you have a problem that is outside this area of expertise, to be honest, I have to refer you to someone else or I'll have to let you know what I think the main issues are. Because I'm not a Jack of all trades and I don't want to start solving problems that I have not equipped or that I don't have the expertise to solve.
So when you know, she said here financial mismanagement and I like the word that she used. Unfortunately, I'm not one of those folks. I don't know how to do handle financial mismanagement issues because to be honest, my sister, you and me wearing the same boat, me safe. I did do financial mismanagement, you know, collect money and then me where one or two problems will come up and then you know, as how will I sort this thing?
You just been moving money up and down. So my sister, you and me wearing the same boat, not just in fact should I say 70% of Nigerians, I think we plenty. So financial mismanagement, you have to talk to someone else, not me. But one thing I'm going to say from a sales and business development perspective is this. Whenever the fundamental problems that we're facing in the business and we don't solve them and we think that by moving on to someone else or something else, things to get better, I'm afraid my sister is not the case.
So you're in business A financial mismanagement day and you're now thinking of opening a business where you'd be selling soap and cleaning agents. My sister, the commonality here is is you. So if there is mismanagement in business, AI can assure you, you know, except if you deal with the fundamental issues, mismanagement go there in business B as well. So anyway, I told her thanks for reaching out because I really love meeting people who listen to my podcasts because, you know, that's how I figure out what it is that they're going through and the kind of issues that we need to address over here on the podcast.
And of course, I offered my condolences. OK, Well, not really condolences because I'm sorry to hear that our business has crumbled in the past because I'll not put it, it's not if it's a bad thing because that's just how life is. You know, most people actually build or try to build 3 or 4 businesses and lose a couple before they hammer. So actually that's just a normal way of life. But I understand what it is when you put your blood and your sweat into something, you know,
2345 years and then yeah, there was just scatter. So I know that feeling. So. So I had a couple of questions to ask her and of course, that is something that I teach you people over here on the podcast, those of you listening, especially for those of us who are knowledge based professionals, professionals. So you're a lawyer, you're an accountant, you're an architect or whatever. Somebody comes to you, they want your advice or they want to know what the ways forward.
You actually have to ask them questions so that you understand what the problems are. You know the lay of the land first before you start making any kind of recommendation. So I asked a couple of questions. Number one, I asked, is she sure that the business failed because of financial mismanagement only? The reason why I asked is because yes, financial mismanagement is a factor, but sometimes the problem is it might be a sales problem.
You're not getting in revenues fast enough or quick enough to be able to, you know, pay yourself a salary or to be able to save something or to be able to, you know, come up with a budget. OK, this is budget for flexing. This one is the budget for reinvesting back into the business. So sometimes, yes, there's financial mismanagement, but sometimes it's also that, you know, there's a revenue problem that we haven't fixed in the business.
Then the second question was honestly, if she had healthy sales in the other business, because it can also be a sign because, you know, some people are movers and shakers, some people are hustlers, they don't have to hustle well. So if the 2-3 other businesses that she was doing in the past, you know, the revenue stream Boku as in the revenue, just just the flow, you know, just as in revenue just flowing, then OK, then maybe there were a couple of things that she was doing well in the other businesses and maybe there's some other problems here that we need to look at.
Then also ask questions about her profit margins. And OK, then also ask one question that if the other businesses were successful, especially the last one, why is she thinking of starting something new or learning something new? So yeah, a couple of you, you know, you do some businesses the thing work well, but then I just want to do something different. And from a sales perspective, my first question was always why? Because business is hard.
Selling is hard. When you find something that works, you have cracked the code. The solution is not on board. Let me move on to something else. The solution is you scale that thing. You find ways to replicate nothing. You find ways to boost nothing, you don't go on. Let me just start off something new and then begin the whole journey all over again. So like now, let's say I have a business, what business will I use now?
OK. The last time I was travelling into Lagos, I noticed this guy was advertising portal, portal parties, portable parties, you know these people that they bring mobile toilets and then they go and pack sheet. So excuse my French. So if I have sheet parking business and sheet parking business is giving me like millionaire levels, I'm now not going to say let me just move on and do something else. If sheet business is giving me millionaire levels from a sales and business development perspective, what we supposed to do is we're trying, we should now try and see that how OK,
we're doing 30 million every year, 30 million every year, OK, this year 2026, how we see whether we'll move from 30 million to 5050 to 6060 to 70, OK, we've dominated Lagos, now we're doing 120 million every year. Let's see how we can enter or go. You know The thing is already working, continue to build it, continue to grow it, continue to replicate it. Because if that sheet business is giving me millionaire levels like multi millionaire levels.
But then on to try opening, see what is what is sexy now, OK, let me say honey, honey production business. Now I want to move from sheet business to honey production business. I now have to Start learning honey. What is good honey? What kind of honey do Nigerians like? What is the best way to produce honey? I don't have to learn manufacturing. OK. No, not manufacturing, because to produce only you need bees, Abby. OK.
And I have to learn animal husbandry. Then I also now have to learn processing. And I have to learn storage. And I have to learn merchandising because I want the only to be in different shops. Let's see. What else? OK. I can't. I can't. I can't think of anything right now. But you see what I'm trying to say, you will not have to Start learning. Some new things are fresh and trying to enter into a new space is coming with plenty mental load, new financial investment.
It's just hard, let me put it that way. So whenever I see people like this thing is really working, I always wonder, like, OK, you're trying to move. Like, why have we maxed out the level of success that we can have in business 1 before we move into Business 2 and then start all over again and then, you know, give ourselves all the headache. So these are some of the questions that I asked her. Anyway, from chatting back and forth, it turned out that truly,
truly, truly a major problem is financial management or mismanagement. You know, sometimes you would say financial management, sometimes you would say mismanagement or join. So although mismanagement is not too harsh, should we say financially in discipline anyway or join financial management mismanagement in discipline. Just remember sure that you listening to the podcast, I know that 99% of us over here right now on this microphone, Abby in this airport anyway, you know what I'm saying?
I know that we're all in the same boat. So the ladies also student community, she's still in school like she said. And then she would get money from students, borrow money from the business and then not replace it. And the emergencies that she had, you know, sometimes cost of rent, cost of repairs, cost of moving because she moved to a new place, you know, stuff like that. So those are some of the issues then. Sorry if it seems like I'm rambling because I'm actually scrolling through the message now as we're talking as I'm giving you guys the gist.
I'm just going through the message when when it comes to her sales. OK, Yeah, so in her own estimation, she says that the sales are healthy and is mostly offline. She's not doing plenty online online things. And the reason why is because she doesn't do official brands, if you understand what I'm saying. You know, like she did repackage. You know how I'll explain it, OK, There's some people who want some businesses where they sell correct, they sell the correct item.
So people who sell perfume, they sell the correct, you know, perfume. Giorgio Armani. So is Giorgio Armani, you know, correct, legit. Then there's some people, what they do is you know, you buy the perfume from Dubai or from wherever and then you now come and you package it and then you now try to resell it. So some of those people who they do this repackaging business, sometimes they don't like to loud themselves too much.
You know, you don't put yourself on social media, you just be selling your market quietly offline. Also at 1 moment there's something here that needs my attention. I'll be right back. OK, I am back. Sorry about that. My attention was needed just so briefly. Again, sorry about the noise in the background because, you know, like I said, I'm in the parking lot and the kids are having classes, so, you know, they're busy, you know, doing their recitals and some children playing around.
So that's why there's noise in the background. So, you know, no Vex. Since I'm currently recording on my mobile phone, there's no way that I can check, you know, to see the noise levels, whether the noise is coming in too strong. But hopefully everything will come out OK. So yeah, so her major problems, financial management, financial mismanagement in discipline because she's been taking money for rent, repairs, moving costs.
OK. So she said that her sales are healthy, but she focuses offline because she's more of a repackager. She doesn't really do official brands. So she makes her money mostly from talking to people one-on-one. And she's also doing a drop shipping business model, trying a drop shipping business model, but you set down and it's not profitable once you once we include the the cost of sending things to people. By the way, when Nigerians say drop shipping, what they mean mostly it's not exactly drop shipping sha, but it looks like when Nigerians say they're doing drop shipping, what they mean actually they're just doing online delivery.
Online delivery is not necessarily drop shipping when a no point in trying to talk about the difference. I'm here for now then the show are profitable. The business is whenever she invests like 50K she gets about 120 K back. That's on average. That's before she hasn't even finished the first before she hasn't finished the first batch and was being to look as if this perfume business is oils business actually is a very profitable 1 because even on my radio show, that's the business booster show on radio Maria 91.3
FM actually is somebody who called in and the the numbers were similar because the guy said that he was trying to set up his wife and on 50K she's actually bringing 150K back. So the girl dropped 50K per shipment and then wifey is bringing back 150K. So he's looking as if the economics on this whole perfume thing is not bad. So the lady who sent me his message, she's talking about how she wants to re strategize. She wants to increase the packaging, increase the sizing,
you know, things like that. And of course, it kind of makes sense, you know, for me, because from a sales perspective, if something is working, you know, why don't we double down on this thing. So if we drop 50K and then on top that 50K, we're making 120K surplus. We haven't even finished selling the first batch. You know, the goal is to actually try and see how we can get more customers. Yeah. How can, you know, try and get more customers?
And then she's trying to get what else, OK, she wants to do, start doing bigger packaging. So traditionally, yeah, those are the kind of things you pay attention to. So you're selling 5050ML. What is profit margin OF5050ML? Can you repackage the thing as 120ML? What would the profit margin be? A120ML. So now be the goal. Every time we drop 50K, we get 120. How can we drop 50 and now get 170 or 180? That's what we're trying to optimize and then we're trying to scale that whole setup first,
traditionally from a sales perspective before we start looking at other things. Now let me use Nigeria's favorite entrepreneur or most hated entrepreneur, depending on who you are down with it. So it's the same thing. First the trucking business, you grow that trucking business, you scale that trucking business well then trading business, you Max out that trading business. Then next thing importing the cement, you Max out the importing.
Then next thing he set up cement factory, you blow the hell out of that cement factory something. Then what did he do? Opening in other African countries? When you scale to other African countries, then what next he opened the refinery as the refinery. Don't they blow now? Next thing, he's talking about opening your port. So you see, traditionally from a sales and business perspective, that's how we do it. Is this thing working?
How can we blow this thing up when we have blown the thing like to the Max, OK, now what can we start looking at next? But not that you have something, the thing appears to be working. You never Max out the thing. And then next thing and I'm wondering, oh, let me start looking for another business to do. So of course, I can't force you guys to do anything, even if you're paying me as as a client, you know, I can't force you, but just let you know.
So you'll be surprised. That's one of the traditional opinions there. So I will definitely want to see how we can Max that out first. Yeah. So she wants to start something different now. Then later on she will go back to perfumes. That's one that is even confusing me the most because you know when you have something now, the thing seems to be working. Now. Every single time you drop 50K, you get 1000, you get 120 K on top.
You say you want to let that thing go, go and do something else and come back. You really think your customer base will be waiting for you when you have moved on to something else? You will lose customer base. Some people will fade. It's normal if I'm in the tailoring business right now and I'm a correct tailor, but then I want to take a break because I want to Japan or something and I stopped promoting myself as a tailor and I'm working on this Canada visa something.
Then after two years, Canada no click is OK, let me go back to tailoring. You think people will just be there? Open me, welcome me. Open arms. No, my customer base go don't fade. They will look for a new tailor where people are not just going to be waiting for me. It's the same thing with this lady's perfume business. You want to go and be trying your hand or something else. People who use perfume, especially people who like perfume because like me, I don't use perfume so that no problem.
But my wife likes perfume. If her perfume plug today begin, they misbehave, my wife will find another place to get her perfume. And I've seen my wife migrate like that. So please, let's not be trying ourselves. So if you have, if you're into this perfume business and I think it's doing OK, don't try yourself. You misbehave, your people will move to another person after you finish, you know, scratching your creative each and you come back, you will have to start again afresh and trust when you reach out to other people, your other people, that's your, your former clients.
You already have other people that they're calling now. Anyway, because she has already decided what she wants to do. You know, my point of view was like, well, looks like you've really decided on what you want to do now. So, you know, get anything that I would tell you now. So now that that's what you want to do, just go ahead, do it now. Go ahead and do what you want to do. But for financial mismanagement, I told her, look, I can't help you because that's not my area of specialty, but I told her a couple of things that are kind of common sense that everybody should already be doing.
So Number one, I told her mingling accounts, stop mingling accounts. That is where the problem starts. So those of us who are having issue with money is because we're mingling accounts, business, one account, personal, one account, side chick, one account, gigolo, one account, everything, one account. That's where the problem starts. Don't mingle accounts. Keep everything separate. My personal money, this is my account.
My business money, this is my account. Therefore the business. Some people even have business savings account, so business savings, this is the account. Personal savings, this is an account. Don't be comingling. If you're running everything from the same account, there will be problem. It just is what it is. So even though I'm not a finance specialist, I can tell you 99% of you listening to the podcast right now, you know, if you separate the account, it's not as if we solve the problem, but the problems will become a lot easier.
So don't be like that. This babe, I'll be running everything from one account. So don't call Mingo, separate the accounts, then savings. Unfortunately, I look, I know things are hard in Nigeria. We have, what's it called, hyperinflation. So it's hard for. We need to get into the habit of saving small, small, small. We just have to do it. I don't know how you would do it. You know, there's some people who say every single time 100K
enters the accounts, they will move 10K and put somewhere. If it's like that, no problem. I don't know what the adequate amount is, you know, but sharp, we need to get into the habit. We just have to now if you listen to some of these financial gurus, they have different yardsticks so that like people on the American and who say you should be trying to save about 20% of your income. There are some people who say you should be saving about 40%
of your income. Then there are some people who like like Dave Ramsey them they, I think Dave Ramsey people, I think they're the ones who say you should have an emergency account. An emergency account just means six months worth of savings. In other words, if your business collapsed today, your employer says get out, they're not paying you money again, at least there's money to arrange yourself. Six months. NEPA, Internet, fuel, house rent, blah, blah, blah, six months.
So like, I'm not a financial, you know, person. So I don't know which one is real, which one is practical, which one is workable, But sure, like I like to tell people, just pick the one that seems to make sense for you and then see how so you can do it. So if you're like Dave Ramsey, then then try and follow their principles. Listen to the guys podcast, you know, try and follow those principles, see how you can get your six months saving account.
And you can see that if you have a six months saving account, you don't have to be putting hand inside your business. Or shall we have to start somehow? So for those of you, excuse me, like she did, you know, of course asking is realistic. Look, I don't know if it's realistic or what's possible or whatever. I'm just saying that Shah is just facts. You know, we, we have to, if we don't start doing this kind of thing, putting aside 55K1010K5050K, you know, every month or every transaction or something, we'll always end up into, you know this, we'll always end up in this problem,
especially if we're coming, coming in where we're taking money from here and then we spend over there and then the end of the day will be saying this money itself. Where is it? Then also told her, look, you have to decide to pay yourself a fixed salary from the business proceeds instead of just drawing down whenever you feel like you need to take money. Drawdown just means, and I put it like, OK, there's money in the business account.
Let me just took an inside. So that's the drawdown. So the last accountant that I worked with, he said drawdown is a fact of life. Everybody would have just drawed down anyhow. Boy, he told me, is this every single time you draw down, every single time you took hand inside this account, just write it down. Let me know, let me see, and then we'll take you from there. So if you have an accountant, then every time you're doing drawdown, just note it so that at the end of the month, at the end of the week, at the end of the quarter, whenever you do your reconciliation, you know the guy who your accountant will look at it and I will let you know that, OK, this is how much you're in the business.
Or anyway, accountants are professionals, you know, give them the information, they will tell you what to do next. Don't listen to me. I'm not an accountant. And by the way, I studied law and during my time, all of us who studied law were people who failed mathematics. You fail mathematics, what will you do? Become a lawyer? And they don't mind me. My wife is math inclined and she studied law as well. So but we have to decide to pay ourself a fixed salary.
And yeah, some people say in Nigeria, is this realistic? Is this whatever? Well, I don't know what what is realistic? I don't know what's doable. Like I said, this is not my area of specialty. But the people that you like, they pay themselves a salary or download it pays himself a salary. Uncle Tony Antonio Lumelu pays himself a salary. If you like this woman, Ebony life, she pays herself a salary. In fact, the business people that you hate, you know, they pay themselves a salary.
There are some people who are indisciplined, thoroughly indisciplined, you know like politicians, you know those ones, they pay themselves salary. OK, well anyway, don't mind me. Let me not get police cover on this episode. What I'm just trying to say is whether you think is believable, doable, feasible, Niger of today, blah, blah, blah. It's just is what it is. You have to collect your salary. You have to give yourself a salary.
And I was listening to the Afropolitan podcast, a really wonderful podcast. You guys should listen to it, especially those of us who are business minded. Afropolitan is a FROPOLITAN. Afropolitan Podcast is run by a husband and wife team, NHA and I can't remember the babe's name, both, you know, returnees from America or correct Podcast and they were interviewing the guy behind them, Seplat. Seplat is one of the is an indigenous oil and gas company and it's something the guy talk about spoke about.
He said that they listed on the London Stock Exchange not because they were trying to raise money abroad in dollars. So I said dollars in pounds that the reasons why they wanted to list on the London Stock Exchange was because of the controls, internal controls, sorry, external controls and you know, governance requirements that will make them be a sane discipline. So even though they were Nigerian boys, you know they had to put their affairs in order and this was one of these things that everybody go down and fix salary.
So me, this is my salary, you that is your salary, you this is your salary. The three of us were Co partners. Nobody say like we wake up one day, you know, 5 billion in the accounts, then we're now good at you can't anyhow, No, that's one of the major reasons why I said they listed on the London Stock Exchange just the controls. You know, if you stay in Niger, you go, you're going to behave like how we Nigerians behave.
But then you go and list on the London Stock Exchange, you know, Weibo would put eye on you scrutinizing account everything. So all of them now they had to be on salary. So I understand times are hard, like we need cash, times are hard. I believe me, I'm misbehaving like the rest of you. But eventually we have to get, we have to get to that level where we're going to pay ourselves salary. Now how do we achieve that? Good.
That's why I say me, I'm not the specialist. You go and start looking for other people who that is the area of specialty. Once I look into financial management, personal saving, personal finance, those kind of podcasts and, you know, start listening and start imbibing small, small, small. So that was just it. So even though I couldn't help her, I told her that, yeah, you, you guys to have two accounts, you know, keep it separate.
She said yes, she has opened a new account. I said, OK, correct. Good. She's already on course. She's already already on course. Then, then let's see what else? What else? What else in the message. So I'm scrolling. I'm scrolling because you know, we're chatting about plenty, plenty of things. Anyway, I think that's just a summary. I now had somebody wanted to recommend how to one of these personal finance people, but the person is on is on LinkedIn.
So I told her, look, there's somebody I want to send you to, but this person is on LinkedIn. Are you do you have a LinkedIn account? Then the the lady, the business person, she said no, she's not on LinkedIn. She now didn't say anything. Again, my mind, I'm thinking, you know, you can't read in between the lines. You say that you have a problem. I see. I have a friend who can fix that problem. This friend of mine is on LinkedIn.
You say you don't have LinkedIn account. You don't think it should be a good idea for you to get a LinkedIn account so that I can hook you up with this person who might help you the way that I'm yawning with you for free. She might say, oh, OK, you know, establish man's person. So let me young with her for free too. You never know. But she didn't clock it and she didn't clock it meets her. I keep quiet and say, you know,
on LinkedIn, I left it. If somebody's willing to make an introduction, please you people do what it takes. Especially if in this case, I didn't ask her to do anything module. I didn't ask her to drop money. I didn't ask her to do and I didn't ask her for blood. I didn't ask her for sweat. I didn't ask her for anything. I just said this woman is on LinkedIn. Her response is I'm not on LinkedIn. OK, no problem. I'll leave it.
Oh, by the way, the reason why I wanted to connect them on LinkedIn is because you know me, I give my phone number at the beginning and the end of every episode because I'm cool. I'm cool with my phone number being out there. In fact, my goal is make sure that every single Nigerian business person has my phone number because I believe that if every single Nigerian business person has my phone number and you know they're having sales issues, then it's only if the devil is after me that I'll be a poor person.
So that's my own strategy. But there are other consultants who actually do not like their number around like that. So that is why if you reach out to me and there's another professional I know, most likely I will patch you through for them using LinkedIn because some people don't like their phone number flying around anyhow. And this babe who is a financial specialist and she's like that, she doesn't want her phone number to be flying up and down,
although I don't think that makes business sense. But anyway, you know, people run their businesses differently. So yeah, that's it. Please. You go and set up your LinkedIn accounts are big because that is where lots of Nigerian business people and business professionals are hanging out. So just go and set up your account. So, So there she's now on linking LinkedIn and no problem, I freed it. But I told her, go on Instagram because that's where she is.
And then search personal finance and stuff like that and then follow people who are in that space. So if you suspect that you're having certain kinds of problems in your business around business management or around legal compliance or around whatever, just go and use these social media tools. Search for people in that space. Start following these people. You will now start getting ideas about, OK, this is what my problem is.
Maybe I should be looking here or there, you know, things like that. So don't just be using social. Don't just be watching status and you know, watching entertainment content on social media and you like use these things for business growth please. Then she asked me one question. She wanted to know what I think about liquid soap and I answered her from a sales perspective. I told her look Madam, I'm the wrong person to ask.
And this is something I've been trying to drum into Nigerian business professionals. Somebody wants to start a business open and be asking me what do I think? You're asking the wrong person. The only person that you should be asking what they think is the person who is a member of your target audience. I repeat, only ask people who are a member of your target audience. If you want to start an Amana restaurant and you're asking me what do I think then like you're asking the wrong person.
Go and ask people who like Amala, who eat Amala, don't ask me. So I told her I'm the wrong person to ask. She should be talking to her target audience. Any other person whose opinion you're asking is not important. So, so my family members say, oh, you have a podcast or the radio show, like, oh, you don't talk about it, blah, blah, blah. I said like, yeah, I don't because you are not my target audience. It is not people like you that I
want to talk to because I don't think people like you will give me money. So therefore, when I have a new idea around these sorts of things, I will not discuss it with certain members of my family. They are not my target audience. So it's the same thing. You want to start a look with your business. You should be talking to people who are your target audience. So the conversation shifted as I was your target audience. She said, well our target audience are businesses,
restaurants, hospitals, schools, banks. Then she also said then souvenirs. I didn't quite explain that, understand that one. Then she said individuals too. At my first hour, I was OK, no problem. Individuals ignore for now. The reason why I said ignore individuals is because individuals, that class is too broad. But for the others, restaurants, hospitals, schools, banks, that one is a very, very, very, very doable target because you can stay in your house and you can think, oh, which banks are around me?
Which restaurants are around me, which hospitals are around me? Which schools are around me? Which banks are around me? Good, you now have your prospecting list. You can now start approaching them 1 by 1 by 1 by 1 to sell your market. My rights to her was to approach the businesses because to be honest, there, there's no if you sell liquid soap and you want to reach out to any of these businesses that we mentioned, restaurants, hospitals, schools and banks.
To be honest, they already have soap that they use. I hope you know that they really have soap that they use. So what you're trying to do is not so much sell your market. You're also trying to unseat somebody because they already have somebody that they currently do business with for soap. So you're not just trying to sell your market, you're also trying to get them to leave whoever they're currently using so that they'll start using you.
So just know it's a it's a hard job. So a suggestion that I asked that was especially now that she's commonly new into this space. Of course, Remember Me? I prefer that as it is what I'm talking about. She's already doing a business where every single time she drops 50K, she gets 120. Guaranteed. The money has not gotten past 120. Not that she will get 120. Then she will move her fifty, she will drop 50, and then the money she gets, the one that is clean on top is 120.
She now wants to leave that and then start another business where she will now start running after fresh, running after afresh, running after restaurants, hospitals, schools and then banks. And of course, when she starts that household, it's not as if the money will start coming immediately. You see the reason why from a traditional sales perspective, we advise people the way we advise them. You want to leave 120 K confirm to look after, to run after a speculative something.
So the goal traditionally when it comes to business development is that one that is bringing in 120 K call farm whenever we drop 50K is we try and scale it. We try and Max it out. We try and put repeatable systems in place. We hire teams like that one is a solid business so that by the time you remove yourself from the equation every month, you just see pinging, pinging, pinging, pinging in your bank account. Then that is what will afford you the liberty to say you are now going to look for something else to do.
So yes, I just thought that you're trying to unseat someone. So just go there, have the conversation, figure out how much it is that they spend on soaps and things like that, and then see how you can help them save costs. Because when it comes to value the value Trinity, that's something Victor Antonio talks about. The value Trinity is just reasons why people buy products and people buy products because they get a financial benefit,
they get a physical benefit or they get a psychological benefit. So that's the value Trinity, physical, financial, psychological. Some people, well, Victor Antonio and this time used to call it the three FS, even though they don't start with F. Well, you know, but anyway, you get the joke. So physical, financial, psychological. So in this case, I just thought a financial benefit would probably be the easiest one. You're trying to sell in this case, which you, you know,
you're going to the bank, you know, you chat with them and let's say they're spending 5 million every single month of soap and you think you can give them a 15% saving on that or 10% saving on that. You know, who knows, you might get them to be willing to try you out to give you a sample order, you know, something like that. But sure, just know you're trying to unseat somebody and then some of you will be wondering this conversation that you're having.
One person ID is easy for free. And well, yes, actually it is for free. That's the reason why I tell you guys that, look, I have commitments to my paid coaching clients and my paid consulting clients. So just send me a WhatsApp message when I'm free, I will respond. But of course, at this point I have to tell her, look, OK, with the level of yarning that we've yarned. I told her look at this point any other thing we have to pay a consulting session, let's sit down and make this new official.
Let's make this a proper relationship instead of you just using me anyhow then and I give her one frank advice and I'm sure some of you didn't notice. I told her look the next time we reach out to somebody say hello first, then compliment the person, then try and offer them value. Don't just go straight into asking questions for your own benefit only. The reason why I'm saying this now is because it's something that a lot of you need to hear,
especially the younger ones. I don't know how you guys didn't get the memo or you guys didn't get the training. But, and you know, now I now know the reason why there are other people in my own circumstance who actually don't even want like, and I put it like they're trying to block themselves from you guys, the audience. So I understand because a whole bunch of you just reach out and your attitude is this is me, this is my problem.
Help me like relax, relax. That's not how you go about it. Greet somebody first, toast the person, wine and dine the person, compliment the person or try and offer them some value. Now after a while, you can now start trying to extract value from them, trying to collect, trying to get what you can from them. But some of you, especially you guys, younger ones, those of you who are still in uni right now, you guys just go straight for the kill.
Relax. Some finesse, please, some finesse. Now I take it as a a thing of pride that every single person who comes my way gets value. So quite frankly, I'm not offended. And you can see that I followed this girl, you know, with a yarn and you know, I didn't say anything. But at the end, I just realized that, look, I'm not going to do this girl well if I don't tell her the truth, because it is the attitude that she's using.
When she's now reaching out to banks, when she's now reaching out to restaurants, when she's now reading out to schools and hospitals, it will be the same attitude. She will show up and the attitude will be me, me, me, me, me, me, me, me, me. And that's not how business is done. No, especially in this part of the world, business is not done that way. So when you show up, greet somebody first, try and finesse the situation before you start going into me, me, me, me, me.
So I told her what a nice way to start a business relationship. And then I asked her because I need to be frank. I asked her, I said, look, babe, help you understand the reason why I'm saying this to you. And that's how the conversation ended. From there she just fade. And that's also another thing that I want to talk about, especially those of you who are the younger crowd, you know, university, secondary school people.
You guys need to be thick skinned. Any time somebody give give you a small push back, you just fade. You are too in your feelings. You are too soft and relax. You need to learn how to take small bath goals. Sometimes when somebody's telling you something there, it's not from a place of how I put it. Sometimes it's from a place of love is from a place of concern that we want to see you do well. But I've noticed that you people, the moment somebody give you, you know, small pushback,
you know, begin, they get defensive or, you know, you fade or you start getting what's that word verbally defensive. And you know, you will need to relax, relax, relax, relax. Learn how to take a hit. Not all criticism is bad. Sometimes when somebody's telling you something, there's a lesson there for you to to learn. So I'm still going to give my phone number out. I always will because I honestly believe that if every single business owner in Nigeria has my phone number, there's no way that I would die for.
So if you want to connect with me, if you have a question, you have a comment, you have a query, they want us to collaborate on something. You can call, send me a text message or WhatsApp message on 08064662140. Reach out, let's chat. For those of you who are trying to get free coaching. I understand. I cite you guys. I see you, I see you. I understand. I don't begrudge you whatever you can get for free, get for free.
That's what I'd be just just do some finesse. Just use some finesse, that's all. Use some finesse at least. At least at least be greeting somebody first. At least greet, say hello first before we start. Then also, if there's somebody you feel as if there's somebody who's willing to give it to you straight, just listen and listen. Thank the person and say, oh, you give me a lot to think about. You know, I'll think about it after that.
You can now block the person, but try to have that listening attitude. So that's it. Thank you very much for listening to today's episode. I will catch you all some other time.