Transcript
A (0:00)
They want to scale, okay. And then the other one wants money. They just want, they want some customers in the door. Okay?
B (0:07)
So, yeah, so I mean, when you're not making money, that's like a very big issue. So I, I always say that you don't need, you don't need money to start a business. You need money, you need a customer to start a business. No money. That's what most people don't do. So most people are just so I need money to start a business. You need money to scale, but you need a customer to start. And so if you're, you're running whatever type of business, you're selling building materials. There's a time ago, one of my friends is running a cement business at a yarifi. I mean we had no money to do anything. We have the product, spend everything to buy and ship our products. Now what do we need to do? You need to go into the place and then start looking for kind of a lot of customers say, oh, you're building and so we can give you cement to be, to be building your thing. And so once they agree, they pay us, we take it and go. And so you need to get the customers money fast and you to start moving. So if I'm on zero, I'm going to spend so quick.
A (0:59)
1.
B (0:59)
So in life there are three types of currencies or yes, three types of currencies. Or in other words, I can say capital. Okay, so most people, they think they want capital. Okay, so all capital, number one is everybody's most initial thought money. Number two, this is actually number one is time and number three is people. And so this is your most default. This is your default time. Because nobody was born with money. I don't think there was anybody who was born with like a bunch of $50,000 just in the hands of the baby. So the only thing you are now born with is time. So this is your most default currency. If you don't have money and you don't have a network, this is where you fall because this is your default currency. So, so these things are not defaults. These things you find you accumulate over time, but this is your default thing. So when you don't have anything, no revenue, you need to leverage on a currency or leverage on this capital. And so this is what you call sweat equity in business. And so you need to be able to find a way to be able to have sweat equity. What that means is that you need to go out there, do cold calling or warm calling. Call everybody that you know, kind of go onto the ground and go get some cash. You need to first of all get cash, get cash for your business. Once you get the cash, that's when you can now be able to now put it into things that will allow you to scale. But most people don't even know what to put into. And that's where the challenge now lies. So once you get the cash, that first of all your first thing should be what cash. For example, in my business, when we were. When I first quit my job, I resigned my job and all I had in my bank account was 49 Ghana cities. No kidding. I resigned and I said I was going to do whatever I was going to do. Faith. I had employees still waiting for me to pay them and everything. And so what I needed to do was that the first thing that I did was that I made a list I made on like the week after because I was burnt out. I was thinking about what to do. I was struggling. I had to find a quick therapist online. And I spoke to the person, the person said, oh, relax and all of that. But what I did next was that I made a list of people who I wanted to work with and then I started calling them, asked them, when can I come to your office? And I went to all of them and I got two clients by like two weeks after I was done. And that's how I started running. That's how I used to pay everybody that was working with me is because I knew that my first go to currency is time for equity. So that's what I would do If I had zero.