Transcript
A (0:00)
Yes. So that's what I had to refine for her. I told her to go back to the drawing board. Hire somebody who can do your job as well as you do so that you can, when you are not around, you know that things are going to get done, set up SOPs in your business, set up systems, structure, know what you have in your shop. So that is how I'm helping her to scale. And honestly, I was blown away from our last meeting. She has just exceeded her revenue targets and I know if in the next year she's going to do great. Yeah.
B (0:29)
You know, I thought about something, right. I was thinking about why most young businesses across Africa fail very quickly. What do you think the reason is?
C (0:38)
Okay. Yeah. So for me, number one, I think they don't completely think through. So I mean, if it's a small business, number one, the thing is that they never optimize their business for cash. Let me see it that way. So most people are just, they don't think too much about cash in hand. They're just trying to make a few sales. But the whole, the whole idea of running a business is that you need to be profitable if you are just running. Most people go register their businesses or register whatever their entities and think it's a business. If your business is not making money, it's just a registered company and it's not a business, it's just an entity. Just a registered entity with the government. It's not a business. You need to figure out a way to get customers. Like that should be your daily headache. And I do think a lot of small businesses here in Ghana prioritize that. The, they are just there.
B (1:29)
Do you really think that the young Ghanaian entrepreneurs, economy in Ghana, they really understand the power of Internet marketing?
C (1:37)
No, they don't. Not at all. Not at all. I think most of them are very shallow in terms of the knowledge when it comes to Internet marketing. They don't go deep into everything. Because the moment you understand, because the Internet is a revolutionary technology. I don't think people can grasp how important the Internet is. Like you can literally have 2 million or 20 million people at your disposal. That's, that's, that's the, that's the, that's the reach and the massive thing that you have right in your hands. The world is your hand.
B (2:05)
Let me stop you here for a minute. We are on a journey of changing the minds and the lives of people. So if you haven't subscribed and become part of the family, please hit the subscribe button and turn on the notification. Thank you. Now let's carry on with the conversation. When I made my first million, I remember sitting back and then telling Ed that this would never have been possible without the Internet.