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Lots of Nigerian business people have no idea that a lot of the revenue problems that they're dealing with can be solved very easily. The reason why this is what we're going to be looking at today is because I'm having a conversation with someone currently who reached out to me yesterday and the guy has some very simple goals in his business. He's currently doing about 200,000 naira in revenue every single month. And yes, I know some of you say 200 K, what is 200K?
But you know we don't despise the days of little beginnings. If somebody doing 200K in profit every single month, it actually is a good thing. At least that is the baseline. And we now know that the way forward is up. We can be going from TO200K in profit every single month to 300 to 500 to 800 to one point something. So we don't despise days of simple beginning. We know that we're going to make progress eventually. So this fellow has some relatively modest goals because,
OK, well, you're looking at it in terms of numbers. You say that his goal is modest because he just wants to go from 200,000 naira in profits every single month. He now wants to go to 500,000 naira profits every single month. So if you're looking at it in terms of naira value, you say those are modest goals, but if you look at it in terms of percentages or in relative terms, then I guess you can say that's aggressive because essentially the guy wants to more than double his profits.
So first of all, if you're in that situation, you just realize that, you know, the goal can be doable. It is doable, but it's not something that is going to happen overnight. Now to solve this problem, we've had to have one session so far where we start breaking down exactly what's going on in the business. OK, so we've tried to figure out his ideal customer profile, who exactly is he targeting? You know, things of that nature.
Because apart from increasing his profits from 200,000 naira monthly to 500,000 naira monthly, the main reason why he reached out to me was because he wanted to scale his business. So we started off the session talking about how to recruit the right team and how to train the right team to sell on his behalf because currently like most Nigerians, he's doing this thing, you know, on the part time level. So the guy is a civil engineer and then he's doing this other business on the side part time.
And then of course the extra 200 K every single month, you know, doesn't you know, it doesn't hurt was not bad. So after talking through what will be like potential hires, how we're going to train them and all of that, eventually, we don't have to get down to this issue of OK, no problem. Currently we're doing 200,000 and next we're aiming for 500,000 naira monthly in profits. So the next thing that we had to do after that was we now had to start looking at some hardcore data.
And I told him that's where the problem is going to be because to be honest, lots of Nigerian business people, we don't keep data. We're not keeping track how many people came into the store, how many people bought, what items did they buy, you know, all those kind of things. So when we have that data, it's very easy to start planning because he offers different kinds of services. He's in the gadget space. So sometimes they sell,
sometimes they repair. So we need to know the profit margins on which you know, so the profit margin on sales of computer accessories, is that where most of the money comes from or is it from repairs? Now luckily he had some data on that that repairs doesn't really bring you much money and then you know, Niger now they would the price are anyhow when it comes to repairing things. So a lot of the profits was from from the sales.
So if we're able to get all the data that we needed would have now started looking at conversions. Now conversions is just the idea behind conversions is this. Whenever you're talking to someone and you want to close the deal, typically what will happen is the deal is going to close in small, small, small stages for most people. You're not just going to show up and then try and sell something and collect money one time.
Now if you're selling something that is a simple commodity like a boosie or I don't know, a standing fan or something like that, it's possible to collect your money. One time, like 2 days ago, one of the fans in the house packed up and I was like, you know what, I'm not going to fix this thing again. Let me just go and buy a brand new fan. Excuse me recovering from a cold. So I just walked into City Plaza and there was a fan there.
I know it's about 30 something grand, so I just picked the fan. So you can see that there's some situations that are relatively straightforward, but for the rest of you, especially if there's a service component in what it is that you sell or if it is high-priced, if it's expensive, you'll find that the deal closes stage by stage by stage. So the way that I explained it to this guy, my client, let's just call him Kenzo, not his real name Kenzo.
So the way I explained it to Kenzo was to use the same example that I always give on the podcast, which was back in my wedding photography days. So for those of you who've been listening long time, you will know that for me, I the reason why I preferred, I just preferred bride hush was because it was nice to be on the floor. Excuse me to be on the floor to talk to potential brides, talk to their husbands, you know, that would be husbands talk to the groom, you know, get to know them, you know, relationship building, all of that.
I just heard like it was a much more efficient way to try and close deals. So the way I explained it to him was this. Let's say I get on the floor and I talk to 100 couples, then the goal would be now to get some of those couples to come back to my stand. Because the way that it works in business exposed bridal, you know, any kind of business exhibition, whether it is Lagos International Trade fair or whether it's a bridal trade fair or an agricultural trade fair or a real estate trade fair, it's always the same.
You know, it's like a market. So there's, you know, there's business, there's music, there's people walking up and down. Then all of us who are vendors, all of us, we have our own individual store. So the goal is always, you know, you go, they perambulate, you know, on the floor, you know, you go site one or two people, you think, ah, be like, say this person get money and they strike up a conversation. Excuse me. And then hopefully you're able to bring the person back to the stand.
So it's when you bring the person to the stand now that you will collect phone number. And then you know, from there you try and close one or two deals or make some useful connects. So let's say I'm on the floor and I talk to 100 people, then I'm able to get 80 people to come to the stand. That is a conversion. I spoke to 100 people, 80 people follow me to the stand. That's a conversion. Now, of course, when they get to the stand, since I'm not going to collect, you know, money like that immediately because I was in the event space, wedding photography, wedding video.
Now back in the day, I don't know how much they charge now, but back in the day you don't like photography, you will collect like around that kind, maybe like 354100K, their video will be another 250300K. So bottom line, if everything goes well, you could be collecting 708 hundred from them. And of course, you know, nobody just goes around and just drops 100K like that. So realistically now to close the deal, what will happen is now that they understand and we're talking and we're getting friendly, I go collect phone number or e-mail address or physical address because some people are OK with you, you know, coming to see them in the office.
So the goal is get some details, but of course not be everybody will go drop details because some people will say no, don't worry, don't call me, I have your flyer, I will call you. It's unfortunate, but you know, that happens. So of the 80 people that come to the stand, it's not as if I'll collect phone number or 80. So let's say maybe like 70, we'll drop phone number. Oh, sorry. By the way, making today's recording out and about South,
you're going to hear noise, you know, cars driving by and then stuff like that, people walking past. Sorry about that. So where was I now? And so for the 80 that come to the stand, it's not as if all of them will drop phone number. So let's say 70 drop phone number. You see, that's also another conversion. You spoke to 100 people. You take 80 people to the stand, that's conversion. 80 people come to the stand, only 70 drop phone number.
That's conversion of the 70. You will call them eventually and then you try and hook up. You try and hook up a meeting. So let's say with that 70 that you try to hook up meeting, let's say 20 of them will ghost you. They no go answer phone, they no go pick up. So because of that, you're only able to fix a meeting with 50. You see, that's conversion again, you collected 70 phone number, you called, you tried to fix meeting.
Only 50 people agree for meeting. Then let's say for this meeting, you go to the office or they come to the studio. You know, let's say one thing, one thing, something's happened. I know everybody is able to show up for the meeting. So out of those 50, maybe you only have meetings with 30 people. That's another conversion. You called 50 people, answered, 50 people said we'll go for a meeting, but at the end of the day, only 30 people showed up.
That's conversion. Then from the 30 that show up for the meeting, you will discuss and then maybe you give proposal to all of them. Thirty. So the next stage now is you're not trying to close. You want to collect your 700K. You want a collection of good money, then you try, you try, you try, you try, you try. Some people goes to you, some people will say no, something work out. Somethings don't work out. So maybe out of that 30 now maybe 10 of them agree and pay.
You deposit and stuff. You see that's conversion again. So you see as everything they breakdown step by step by step. You talk to 100 people on the floor, 80 people come to the booth that not conversion. Then the 80 people will come to the booth. You try to collect phone number 70 collect phone number, sorry 70 drop phone number down a conversion. Then from the 70 will drop phone number. You call. You try to arrange meeting, 50
people agree, say they will meet with you no problem down a conversion. All the 50 people will agree say we will get meeting. They don't show up for the meeting. Only 30 people show up down a conversion. So from the 30 that show up, you should proposal, you know some people goes to some some clicks or no click at the end of the day and only 10 people will pay. So you see conversions. But in this case, now you will now know depending on your level in in business, depending on expertise, now depending on level of maturity, you will no say in order for me to close 10
deals, I guess, I guess be talking to like 100 people. So those are conversions, so excuse me. And unfortunately those are the figures that lots of Nigerian business people don't keep. But if we keep those figures, we'll be able to know where to tweak, where to measure so that we can improve our process. Because what I was thinking first of all was this, and this is what most people do, that if I start toasting 100 people at the end of the day, I go close 10 deals.
The average thinking is if I want to now have 20 customers next month so I can double my profit margin, what I need to do is I need to start talking to 200 people. So that's the average scope that most people do. If every single time I talk to 10 people, sorry, every single time I talk to 100 people, I close 10 deals. Each of those 10 deals, everybody's worth 7700K. So 10 deals, 700 K7. OK, good. So if I talk to 100 people in a month and then I get 7:00 AM, if I want to make 14M, the goal will now be let me talk to 200
people. So that will close 20 deals and that's how I get 14 M. So that's just one basic rough math. Now, it's not that simple. There's a whole lot that goes into it because remember, if you know your conversions and you increase, you can tweak your conversions, you can increase, you can, I'll put it, you can start making more money. We're having to talk to more people. So let's say at that stage where it comes to dropping proposal,
you drop proposal on 50 people. But then guys, sorry, I didn't write down the numbers, OK, you drop proposal of 50 people, there are those 50 people, 20 ghosted you, OK. So now if you handle the sales process better, are you able to increase your conversions and then you drop proposal of 50 people. But because you get better your sales process, maybe only 5 people ghost you. And so you have 45 people who have proposals they are trying to close on.
You can see that at the end of the day, the final close that you will get will be higher because before you're talking to, you're talking and you're fooling around with 30 people who have proposals and they're able to close 10 deals out of 30. So if you're able to increase the number that there are 45 people who are running around with proposals, you see it automatically your, your, the final deals that you close at the end of the day will go up as well.
By the way, you know is sorry that I said automatically, it's not as if it's automatic. That will happen by force. By force. But you know, Brian Tracy talks about the law of averages. So in average over time, if we keep this up, these are the revenues we hope to make. These are the number of deals that we hope to close. So that's how the thing works. It's a matter of averages. It's not as if it's, it's an automatic necessity that if you talk to 10 people, you close sorry, that if you talk to 100
people, then you close 10 deals. So this is the idea behind conversions. So sorry about this long preamble, but I'm going to get to the point now. This is the problem that lots of Nigerian business people have because #1 they're not tracking their figures. So we don't even know what our conversions are. And then #2 and this is the one that shocked me. That really, really shocked me. There are lots of Nigerian business people who go around,
all right, And they don't even have a follow up process. They don't have a framework to guide how they have conversations with people because. And also they're asking questions to the guy to try and figure out what the flow was like. You know, when somebody slides into your DM to say, oh boy, how far you get this, you get this, how much, how much, you know, I need to gauge the flow. That was a level of flow like the conversation that you have.
How do you structure this conversation? So now the guy shocked me. Cancel again, not his real name. So cancel said now no, that you know the portion, anybody that depends if anybody wants to buy the Uber. Our shock, I froze. The reason why our shock is because I don't have lots of Nigerian business people do it. But I didn't realize that. How do I put it? I didn't realize that it was how I put it, like I knew, I know in theory that lots of people have that attitude, like if they're serious, they'll buy.
But it never crossed my mind that I would actually meet someone who actually, that is how the person is running his business. So, so for those of you who are listeners of the podcast for a long time, you can see how I say that you know, your business can succeed in if you have a crappy sales process. So in his own case, that's a crappy sales process, but at least he's doing 200,000 naira in profits every single month or something that he's doing part time again, yes, 200,000 naira.
Yes, it's small, but don't worry, we don't despise days of simple beginnings. The goal is from 200 K, we'll be going to 300 to 400. Ultimately his goal is to get to 500. This year in 2026 was making 500,000 naira, I mean profits and still do this thing part time. So if you're like Kenzo again, not his real name and you don't have the figures, you don't know where your conventions are, we're not going to be able to know where the problem is.
We'll know whether you are good at starting conversations, but you are terrible at fixing appointments, or maybe you are terrible at making presentations. Unless we have the numbers won't be able to know exactly where it is that the problem is. Because let's say somebody now goes and talks to 100 people on the floor at the business booth. But then the person is only able to get, sorry, the person talks to 100 people on the floor of the trade fair, but then he's only able to get 10 people to come to the booth.
And out of the 10 that come to the booth, he's able to collect phone numbers. And let's say he's able to close maybe like 5 deals. That kind of person now will now know that, ah, this person is a superstar, that if this person can bring 10 people to the booth, he will close. Half of them will now know that the problem is that when he's on the floor, he doesn't know how to bring people to the booth. So as a sales coach and as a business development consultant,
will now start asking questions like, OK, when you see people on the floor, who do you decide to talk to? How do you start the conversation? What is it that you say, you know, would start trying to fix the problem there? Because we know that this guy is a superstar. If he brings 10 people to the booth, he will close 5. So we know automatically that if this guy, you were able to bring 20 people to the booth for this guy, he will close 10.
So when we have the stats, when we have the figures, we can now figure out where the problem is. So that's Kenzo's first problem, no figures. And the second problem, like I pointed out, is, you know, the guy has no follow up game essentially because as far as he's concerned, you know, if they're serious, they will buy. If they're not serious, they will not buy. So unfortunately, we can't run business that way. Just in case there's another Kenzo listening to the podcast right now, I beg, I'm begging you, you can't run your business that way.
If they're serious, they will buy because all kinds of things happen. People get busy, people forget. By the time somebody's ready, they've lost your phone number. Or maybe competition shows up and they steal the deal from your hand. What else? Like it could be all manner of things. Some of you are missing out on easy revenue just because you don't have a simple follow up process. By the way, in sales, we don't say follow up, we say follow through and I'll explain why later.
So you don't have a follow up or a follow through process. And so because of that, there are people that are sliding into your DM, there are people that are meeting you on the trade floor. There are people that are walking into your shop, there are people that are walking into your office who could be prospective customers. These are people who could be giving you money, but because you have an attitude of and if they're serious, they will buy.
If there are no serious medium wacker, you are losing money. You are losing money. So luckily Kezo has some figures. He's talking on average to people about three people a week. So about three people a week. That means about 12 people every single month. So this profit margin of this profit margin of 200,000 roughly, remember it's an average, you know, it goes up, it goes down. So sometimes would be 180 K, sometimes it might be 320.
You know, boy, average is like 200K per month. So this profit margin? That he's having and listen to this, this profit margin that he's having of 200 K every month is from talking to only 12 people. And the 12 people that he's talking to, he doesn't have even have a process. His own idea is if they're serious, they'll pay, then we'll buy. If they're not serious, they will not buy. Imagine that somebody's only talking to 12 people.
He's not even bothering to chase them. So it's only the people who in his own mind are serious, you know, who drop money. How many people does he end all buying at the end of the day? You know, maybe two or three a month. That's the number of sales he's getting every single month. Two or three a month. Just by having a follow up process or a follow through process, his profit margins could be higher. Are you listening?
In case you're a Kenzo, you're like Kenzo, your profit margins could be higher without doing too much work. You're talking to 12 people every month. From the 12 people that you're talking to, two people buy on average. For the two people who buy on average, you're making profits of around 200 K every single month. But The thing is, you're talking to 12 people every single month. If you just make sure you have a follow up process or a follow through process, are you able to double that number from talking to 12 people?
You now start closing four of them. Can you see that automatically his profit margins go just drop like that just from making one small change. He doesn't have to start looking for new people, he doesn't have to pay for advertising, he doesn't have to do anything extra. All he needs to do is just to set up a simple follow up and follow through process. That is the difference between closing 2 deals when you're talking to 12 people or closing for deals when you're talking to 12 people.
So it is possible. There are lots of you Nigerian business owners who are in this situation. You want to grow your business from 300K to 600K or from 600K to 1.2 or from 1.2 to 3.4 and you're looking for wonderful fancy ideas. Meanwhile, if you just make one or two tweaks #1 track your numbers, know your conversions #2 fix those conversions, there are some easy wins that can be made here. So very easy wins. Sorry, one moment, one of my guys is coming.
May I greet to go? OK, sorry about that. One of my guys was passing. I just see my healer. All right, so where was I now? So there are lots of Nigerian business owners. Why cancel situation? Your business can be doing a lot more. We just need to be tracking our figures. How many people are we talking to on average every single month? The people that walk into the store, how many people just the, you know, worker like that?
The people that send us DMS, on average how many people are sending us DMS? More The tracker, small, small, small, small, small. You don't have to make it too much work. Maybe what you can do at the end of the month is OK, this is today's date as the day of this recording is OK, 24th of March, so maybe 31st March. You just open your phone and then begin to scroll. OK, how many DMS did we get this month? OK, then based on the DMS, how many of those DMS close?
You know, just it doesn't have to be complicated. Something simple like that. And then you go to track come. By the time you look at 2-3 months figures, you will now be able to see exactly where it is the problem lies. Whatever. Luckily Council's problem is a simple problem, so we're going to fix it. So I've told him to share some of the conversations that he's been having with people who slide into his DM and then we'll fix it.
We'll just come with a simple follow up process, a process for doing need analysis to figure out what people want, a process for trying to figure out who is the serious person. Because we don't leave it up to people to decide whether they're serious or not. We are the ones, the business owners, we are the ones, the sales professionals, we are the ones who are going to decide whether somebody's serious or not or whether this person is a workout pass.
Then when we decide using our own criteria that this person is a serious person, we will pursue this person. Remember, Brian Tracy says it's about the law of averages who will pursue this person. So over time, if we are spending a lot of time with people who are serious buyers and we are the ones really poor shoe, guess what? We start making more money. You can't grow your business passively. You can't. So you have to wake up.
So any summary, I'm just making today's podcast episode to know that to let you guys know anybody who is in cancer situation that the business growth you're looking for is not as far as you think. You reach out to a consultant and you're thinking what new ideas, what new ideas, what new ideas, what new products. Sometimes some of you don't need to think far. It's not about new ideas, it's not about new campaigns, It's not about adding new projects,
new products or anything like that. Sometimes it's a very simple something. Let's look at the numbers. What are our conversions? Based on the conversions, we'll know where the problem is once we fix that problem. Leaving your business as it is, talking to only 12 people every single month, Just by fixing your conversions, you will see that new money will just be entering your business again. The beauty of cancer situations that he's doing all these things part time.
You were able to fix this and he's able to achieve his goal. That's great. From 300, sorry, from 200 every single month in profits to 500K every single month. I mean, who knows? Eventually he's doing, he's covering more of his. Eventually he's going to make up it money what he does every single month. I mean, who knows if we're able to fix everything and then he's able to even start going behind this thing full time. This is what we're doing part time.
Imagine what the promise can be. Anyway, I've kept you guys for 30 minutes, let me just bring you to a close. Now if you'd like to connect with me just like Kenzo did, again, not his real name, you can call send me a text message or a WhatsApp message on 08064662140. Now for some of you who are worried that I sound expensive, don't worry, I'm reasonably priced. But apart from that, we have flexible coaching options. So Kenzo is not even paying for any high level something.
He's paying on the power something he wants an hour of my time. The guy boss me, he dropped money and then we have a detailed conversation and that's how we're moving this thing forward. Small, small, small, small, small. So don't worry, you don't have to be on adobo and come, you know, with hundreds of thousands of naira and then pay for my time for a whole month. We can do the hourly thing just like Kenzo is doing. Well, please be ready when you do call me, I will have lots of questions for you.
It's not that I'm trying to waste your time. I'm not trying to run down the clock. I'm actually trying to figure out what it is that is going on. So that's the reason why I'm going to be asking you all these questions, because we're trying to get to the to the cocoa, to the meat of the matter so that we'll fix your problem once and for all. Because, yeah, I like money and I like receiving money from you. But honestly speaking, my goal is that you guys come to me, I
do my best to fix you up, and then I set you on the way. So my goal is not to collect money from you guys in perpetuity. I want us to look at the problem. Let's fix this thing one time and then you're making progress. If you come back again, it's because you have, you know, you need help in, you know, one or two other areas. We'll fix that one and then we'll make progress while moving on the way. So my goal is not to be collecting your money in perpetuity.
That is why I don't do retainers. So I'm not going to say, you know, pay for, put me on retainer for one year. No, my goal is not to be in your system forever. So that's it. If you love to connect, just like Kenzo did, call me, send me a text message or WhatsApp message on 08064662140. And if you all know those people who say you know, get money, no problem. I answer questions for free, but I will only answer one question for free.
Just let me know where from when you reach out to me. That's what you're looking for. Sorry, excuse me, like I told you, I'm recovering from me sore throat. If I'm from here, I should even go to the pharmacy self. Oh, by the way, don't abuse drugs. Go and see a doctor. Don't do like I do. Go see a doctor. If you're not feeling well, don't do self medication. So if you say you don't get money, that's not a problem. So just let me know.
You're looking for free coaching. You're looking for free advice. It's not a problem. I'll answer one question, but one question only. So make sure that you think real hard and real, real hard about what that one question is going to be. And then reach out 08064662140. Even if you just want to say hello to your boy, no problem. I appreciate I like figuring out who's listening to the podcast anyway. Let me get to know what who my audience is so that that way the podcast episodes that I make will be relevant and particular to you guys and and ladies and the challenges that you all are facing in your business.
So thank you very much for your time and attention. I'll catch you all some other time.