Episode Transcript
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Speaker 1 (00:02):
I believe fashion is something that almost everybody do on
a daily basis, and the part of you waking up
we include a should. We are also a faction in
person already and I believe there's an impact for people
to just create something from their mindset. Passion is something
that comes from your mind. Usually when you have mindsets
are okay, I have this cloth, want today. The combination
(00:24):
should not be a problem to your barrier. And I
believe we all of us, we're into fashion. Remember we
are the other.
Speaker 2 (00:35):
Hi, everyone, welcome to another exciting episode of Smart Growth
where we engage with entrepreneurs and help them map out
a growth strategy for their businesses. My name is the
do working there managing direct impact of Leaders and this is,
by the way, what we do every day. We help
business people. The same is startups take on contech build
(01:00):
their businesses with me on the show today is an
exciting entrepreneur. His name is Ganiu or a Lua, and
we just give me a few minutes to share with
us his background. Hi, Gany, welcome to the show.
Speaker 1 (01:17):
Yeah, thank you. My name is Ganiel Eloa the Sea Clades. Yeah,
my background for fashion is I believe there's more to
promote in African areas, and that's what give us an
age in Africa.
Speaker 2 (01:32):
Lovely. I can tell from your dressing that you know
you're an ambassador of your own brand and that speaks
a lot. Yeah, sorry, you look like a million dollars.
Thank you? All right, So that's very interesting and good,
which gives us some insight into your mindset. But could
you tell us a little bit more about your background?
(01:54):
Briefly about your background, how do you come to this?
What gives you the convention to do this full time?
Speaker 1 (01:59):
Because one thing that happens is that mostly mostly designers
just create nor captain that's regular. Can I believe I
need to just go away from the normal regular way
using Ankara and leads to create more of African way
using a character create blazers. I believe it sounds so
nice in your head. That's when I come into African
(02:23):
ways to rebuild the African world.
Speaker 2 (02:26):
Mm hmm. That's interesting. And any plans for exports.
Speaker 1 (02:31):
Yeah, some of my goods go out in out there
and some are tea and oh that we're still going
to be signing out Lovely, Lovely look.
Speaker 2 (02:42):
Forward to that. I can't wait to hear about our
lower clothings and CNN or on one of those big brands,
one of those big media brands. We can let's talk
about your business specifically.
Speaker 1 (02:53):
Now, Yeah, pastun to me is summer eyes everything that
I believe fashion is something that almost everybody do on
a daily basis, and the part of you waking up
we include a should. We are also a PASTI person already,
and I believe there's an impact for people to just
create something from their mindset persionally, something that comes from
(03:15):
your mind. Usually when you have mindsets of Okay, I
have this clothe I want to be the combination should
not be a problem to your barrier. And I believe
all of us we are into fashion when we are
the other.
Speaker 2 (03:29):
How are your customers in bibing or receiving this philosophy?
Speaker 1 (03:37):
Mostly I ask for feedbacks. The money comes to my
own business, like after you, we are in the clothes
and want feedback because mostly what we use in our
home is most people referral based on what they were,
and we don't need more advertisement than that because it
gives you an age. Because when someone is putting on
(03:57):
your clothes and telling another person that I saw the
script from a relia clouding. You have the trust you
be the trust from people.
Speaker 2 (04:05):
That's the ultimate dream of every business person to have
word of mouth referrals from existing customers. I will come
back to referrals as a growth strategy down the line,
because the cost of acquiring a new customer is always
far higher than the cost of, you know, getting the
(04:27):
current customers to refer Having said that, what does your
customer base look like? How many customers do you?
Speaker 1 (04:33):
I have like hudred customers like mostly you know, bus
and referrals. We get more clients, more of designers. Yeah.
Sometimes we use apps using as on Facebook and Instagram
connected my Instagram and my Facebook. They use it to
run as to create and to see a larger audience,
(04:55):
like people that don't know as you understand where you're
coming from, Bason, where you're what or we are promoting lovely.
Speaker 2 (05:02):
So one hundred customers on the average, how many of
them transact with you on a monthly business the pain
at least once every more.
Speaker 1 (05:12):
Depending on emails we sent out that are and based
on request. The term is what we produced. You understand,
we don't just have a request like anyhow is based
on request? When you have when you are in need
because mostly Nigerian economy does not accept this fact that okay,
(05:33):
you are includes without having the reasons anymore people suse
for reasons.
Speaker 2 (05:38):
Okay, So what's the average value of each order?
Speaker 1 (05:43):
Average?
Speaker 2 (05:45):
Average commercial value was those average price price? I don't
use broad price, but average customer order.
Speaker 1 (05:52):
Value based on based on the Nangian situation. We have
to add trust based on you know, most people are
not able to avoid what we are giving them. Now
we need to reduce some of the prizes and just
upgrade some and try to work with people's mind as.
Speaker 2 (06:10):
Okay, So average average just average. I mean, like if
I wanted to sew well used the word time earlier. Yeah, okay,
I found what you're wearing right now if I wanted
you to make it for me, you know, after after
measuring what does this look like?
Speaker 1 (06:24):
Mike? We're looking at fifty basion the quality of fabrics.
We're giving out.
Speaker 2 (06:29):
One hundred and fifty K and that includes fabric and
your experts, tailery, love and the design. Yeah okay, so
that's around fifty K.
Speaker 1 (06:44):
Is that average or is that depending on the design
you you heard that from which other understand you can
just pick a monogram work and we are doing it
for plain job. That's we pick basion designs which had
been design is mostly okay.
Speaker 2 (07:02):
So so so what I'm trying to do right is
to establish a baseline, right for our conversation. I'm trying
to get if you get one hundred, if you have
a hundred, if you have a customer base of one hundred,
maybe fifty of them transact with you at least once
(07:22):
every month, and each of those transactions is on average
and fifty k. Are those accurate? Can we use that
as a baseline to convert to have a conversation for now? No,
So that's okay. So fifty orders with one hundred and
fifty k, that would be seven point five million if
(07:45):
I'm correct, But my mouth is correct.
Speaker 1 (07:48):
You a month a month? Right, boy? It's not everybody
that is going to patronize you at the current situation
of the country. Understand, we have to as draft out,
we have to map out the factors. Also get because
most people are not like patronizing like before because of
the economic situation and everything.
Speaker 2 (08:10):
Okay, I would say that especially if are looking for investments,
would you like external investment? Yeah, in external investment.
Speaker 1 (08:22):
But now the brands for the gruth because mostly when
you work alone, you work slowly. I won't work with
other brands, you work faster.
Speaker 2 (08:32):
Okay. Who is why I asked is for someone who's
looking for investments. You always have to be ready, like
a soldier, like a boy scout, be prepared. Matter of
boy scouts, right, you always have to be ready. Always
ready mean ready means ready with your numbers. Okay. So
(08:56):
if if you if we finish this interview and you
were working out of these premises and Tony Lumido or
Dangote driven and they said please stop, stop, stop stop,
and they stop driving and said, I love that outfit.
Becauld you please call that gentleman for me. And then
after taking the details, he said, I think I'm interested
(09:17):
in your business. And they asked you basic numbers. It
would be beneficial to be able to give those numbers,
those business numbers. So if I if I ask you,
for example, how much did you make last month, how
much did you make last year? What was out of
how much you made, what was the gross profit or
(09:38):
was your net profit? Those are numbers that should come
out of your fingertips. You know, in a hardbit, you
know and those and in a sense, those are things
that help us to have a conversation that other people
can learn from. Okay, and that's the first feedback. Okay.
If you want to grow, you have to know where
(10:01):
you are. Okay. So having said that, what does the
future of our lower clothing look like this time next year,
twelve months from now?
Speaker 1 (10:13):
I'm hoping it's going to be bigger than what we
are doing here currently because we have substract that you
lay down, like in terms of having emailing customers, like
using an email to draft out for clients, you can
get more customer base and.
Speaker 2 (10:30):
At Okay, so don't necessarily go into the how, because
emails and those are the how in terms of the what,
in terms of the goal the objective would you like?
So you're doing fifty customers per month now at run
Caper Order, what does that look like twelve months from now?
Speaker 1 (10:48):
Is that?
Speaker 2 (10:49):
Do you want to double that? Do want to triple that?
Speaker 1 (10:52):
Do you want to want to double that? Because how well?
Double it is because most designers do ready to wear nowadays. Okay,
we can and also create more walks down so when
you come in, is not that you're just swaying for
you we have the clues ready for you. Then you
just have a fitting. If any adjustments are meant to
(11:12):
be made, you're just going to take it to the
stadents to just adjust it and have your clothes instantly.
Speaker 2 (11:19):
And you and you believe that that ready to wear
is a strategy that can unlock growth for you.
Speaker 1 (11:26):
Yeah, because you are some clostomers are ready to buy
instantly and if you're not able to provide them more
they wants at that particle hour time, you've lost you've
lost the clients also.
Speaker 2 (11:37):
Okay, so do you what do you need right now
to make that happen to start doing ready to wear
in the factory space.
Speaker 1 (11:50):
Show showroom and the legs exactly you need. Yeah, like
I'm seeing, like Bubba Andrea one hundred million, five hundred
million is getting to work for because we have extracted
and laid down using like those popular places in your case,
(12:11):
and I know our rent may be now and you
have to plan ahead because it's not something I can
just walk today and just carries on tomorrow.
Speaker 2 (12:20):
You have to have something laid down. Okay, two things
one one hundred million in what corns and Nigeria currents, which.
Speaker 1 (12:28):
Are which isn't hundred one hundred. I'm not saying like
one thousand.
Speaker 3 (12:36):
Yeah, that's what I'm going one hundred million. Fifty million
can still work for so you need to be So
that's another point for your friends specifically about the court.
Let's say fifty million can still work for.
Speaker 2 (12:49):
Us if I give you a check for fifty million
right now, what I what's that? So it's called uses
of funds? What are the areas that you allocate that
fifty millions?
Speaker 1 (13:05):
We have a lay down tractors that we want to use.
We're trying to move into like Ireland specifically using either
equally axis or their key axis to advertise more of
our product. Then have factory buying for buying fabrics, buying, marching,
(13:26):
and then empowering other designers out there and planning them
to do more of our works. Again, work from in
our designers.
Speaker 2 (13:38):
In order to in closing, let's do it. Let's do
some type of simple mathematics. How much did you make
last year?
Speaker 1 (13:48):
Last year? I can say is he for a month
not a year for the entire YEA Let's see five.
Speaker 2 (13:54):
Million five millionaire in is our revenue or profit? Like
the revenue revenue this is June, middle of June. How
much have you made so far this year?
Speaker 1 (14:08):
The market a bens to Okay, we have made let's
one point five millions.
Speaker 2 (14:12):
Figure one point five so if it goes at the
same rate, you probably land on three million this year.
So that's eight million in two years. That's four million
just for discussion purposes. How can we inclose them? Okay,
how can we make eight million in one year? We
(14:32):
made eight million in two years five plus three? How
can we don't make eight million one year?
Speaker 1 (14:37):
Basic on distractor is layd down, like using ads and
promoting the work, using issue room and the lights and
a working store for clients to come in and have
some We have some works laid down, like we have
those ready to wear on grund. I believe we won't
lose some of the client that just went off, Okay,
(15:00):
jumping on the last point. One of the ways to
really really convince external investors to put money in what
you're doing to invest in your business is to demonstrate
that even without the money they're asking you're asking for
(15:23):
that money you're asking for, there are some things you
can do with the current assets you have. And what's
the biggest certain businesses your customer bus. Is it possible to.
Speaker 2 (15:36):
Double one hundred customers to two hundred customers so that
four million parano becomes eight million paranom?
Speaker 1 (15:45):
Yes, we can double it. Okay because where we have
those works later, we can double the sales because they're
already they are people are they're into ready to be
already like they want something instantly. You're ready to buy
these what's a color product? When you have it on ground?
And with that, I believe, with that and the insight
(16:06):
of Instagram and Facebook ads, we can reach out to
so many people that are we haven't had before to
get more customer base.
Speaker 2 (16:14):
Okay, Okay, So with a minimal effort of additional marketing, Yeah,
you can demonstrate to an exile investor that you can
double sales and then that dublin of sales is the
validation that the investor, you better join me on this
(16:35):
journey because if you don't join me, I'm going to
get it.
Speaker 1 (16:39):
May just take a time, or we are getting there.
Speaker 2 (16:42):
You've got it already. So would you say that there
are any take aways from this session today?
Speaker 1 (16:45):
Yeah? It was insightful. I was able to lane the
fact that distracted is to grow business okay, yeah, and
using social media and the likes to grow business and
it's insights way in terms of I was able to
learn more from business experts.
Speaker 2 (17:06):
Thank you very much been Uptodier Idea. It's been a
pleasure discussing with you today, Sam. Looking forward to having
you sometimes in the future when you are to your
current size and yeah sure, thank you Panks.
Speaker 1 (17:24):
And it would be great for me coming back because
I enjoyed the section and towards the insights for me.
Thank you sir. Thank you