B (2:50)

A young man in search for a job. His idea was, you know, maybe I can earn 2,500.

A (2:55)

2,500.

B (2:57)

How much are you comfortably paying yourself a month now?

A (3:00)

I, I actually want to take my business to the next level. So I will pay myself 1500. Wow. I only pay myself 1500amonth. Because you see money. As I was saying, money is so funny. Let's say I make 50 000amonth and because it's my money, I decide to spend 40 000. I am not actually helping the company to grow. I've actually sold myself to a standard that if my capital does not reach this, this line, I'm not even taking 5,000 of my money on this.

B (3:30)

Where did you get that?

A (3:31)

I actually learned it on Charge. You see actually ask charge, why do businesses fail in Ghana? And he said because they can't separate reinvestment account, buffer account and personal account. As, as a business person you need to have three different accounts. You need to have an emergency account in case you have a car and the car breaks down. You, you actually don't dip your hand into the capital but you take it from the buffer account. And you also, you should also have an account for reinvestment and have personal account. So that's where I got that. Look, if I'm to invest this money into this business for some time, it will get to a time if I take 100 cities, 100,000, I'll be okay. But as for now, I'm only paying myself thousand five hundred. I love it.

B (4:16)

You started this with a lot of skills but zero investment.

A (4:21)

Zero investment.

B (4:21)

What has been your, the best month you've had in business?

A (4:26)

My best month in terms of total revenue, my best month is December.

B (4:30)

Okay.

A (4:30)

I sold good worth of 400,000. Wow. In December. Actually it was September. But December, because of the festive season, it's, it's, it's peaked at December. Now 400,000 for December. And I, I started tracking my business. You know, at time when, when I started the business, I was actually not paying attention to my stocks, my spending. So in June this year I started tracking my business. So from June to December I sold goods worth of 1.5 million Ghana cities. Goods worth. That's what I saw. Revenue, total revenue Yes, I, I have a feeling that January will supersede all.

B (5:14)

That's good, that's good. Most people that. And the reason I'm doing these series is because I have beautiful young audience. Some of them are in university, some have just graduated. The young people, you know, that see me easily and they're like, you know, we love what you do. I want to give them value. I want to have more young people on the, in the seats speaking about their own experience. Young people who are, who have taken the path of growth and entrepreneurship like yourself. So these people may not have capital just like you didn't, but somebody may also have a thousand cities, right? Take me through what you can do for someone who has a thousand cities. What can they do with a thousand cities?

A (5:57)

Okay, what as As a young entrepreneur, I also love to see young guys or young ladies or to also do stuff for themselves. So last week a man from, I would even say a young guy drove to. Nowadays I actually joined People's Lives on TikTok just to share experience about how businesses is dying Ghana. So the guy just told me my submission was good, he wants to come to see my place. I said no problem, anytime you are free, just come. So he came I think last week and I opened my warehouse and I was like wow, wow. So we sat down and he actually brought 2,640 that book 12 of my, of my brand. And what I did to help him was I divided my profit into two so he can sell like I do, right? Yes. I divided my profit into two so he can sell like I do. So if anyone also wants me to help in regard of where you are, I can also help you build your own. Build your own to the extent that if you have capital I can hold your hand and take you to where the company so you can also buy from them.

B (7:13)

Wow.

A (7:13)

Because to me life is not how we see it. You also need to help people because I was saying, as I was saying, Mr. Fr. Is my God now, my God on earth now in this world. So it's my dream to also help people to climb up.

B (7:30)

So the thousand cities. What can a thousand cities do? Let me stop you here for a minute. So if it's your first time watching Connected Minds or you have been here before but still have not subscribed, do us a favor because majority of the people that watch our videos have not subscribed. This doesn't help us grow beyond what we expect. So help us by hitting the subscribe button. Thank you. Now let's get back to the conversation.

A (7:58)

A Thousand Cities can buy, irrespective of what, what, what, what you want. A Thousand Cities can get, let's say five packs of my softener.

B (8:09)

Okay, great.

A (8:11)

A thousand cities can get, let's say, five packs of my, My soups.

B (8:15)

Okay, so you take a Thousand cities, it can buy five packs of the product that you have.

A (8:20)

Yes, please.

B (8:20)

And when they sell it, usually. What is the margin per pack?

A (8:24)

The margin, since they are, since, since I am. I'm dividing for them is 20 CDs per pack.

B (8:30)

All right, so they're going,

A (8:34)

yes, that's, that's what I'm making 10 of their money. Right.

B (8:37)

This is. Sounds good.

A (8:39)

Yes.

B (8:39)

And it depends on, you know, how, how much.

A (8:42)

And, and actually, this 10, 20 CD is for wholesale, but if they are to do retail, they actually will make 80 cities on one. Per pack. Yes, per pack. They'll make 80 cities per pack on one. So it's actually in their courts to decide whether. But to me, I advise them to do the retail because you are now. Okay, yes, you are now starting. So you, you actually doing the retail. Actually help you connected minds podcast.