June 17, 2025 • 20 mins
In this episode of Smart Growth, we sit with Praise Odinaka, founder of Ina_rayz Beauty, a bold, purpose-driven Beautypreneur committed to selling original skincare products and promoting holistic wellbeing for women. From starting her journey in the beauty industry at just 18 to building a brand that stands out in Nigeria’s saturated and counterfeit-ridden market, Praise shares her story, struggles, and how she’s earning her customers’ trust every day. Odinaka received expert advise and support from Soji Akinlabi who is a storyteller and a serial entrepreneurs on how to grow her revenue month-to-month.
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Episode Transcript
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Speaker 1 (00:01):
How do you grow your revenue? Do you need to
now find out average cycle in terms of what is
the average time the customer comes back? And having clear
picture in times of your business data, it's the only
way to be able to figure out how to grow it. Today,
(00:25):
I'm talking to Praise about our business and we'll be
exploring how to grow our revenue and how to grow
the business in general. H Praise, high Surgy, Hi, nice
to meet you. Okay, what is your brand called? In
a race?
Speaker 2 (00:42):
Pronounced on the score are A?
Speaker 1 (00:45):
Why? Z?
Speaker 2 (00:46):
I know?
Speaker 1 (00:47):
Right? Why? Why? Why is that? Did you come up
with that? Actually? That was not even my idea.
Speaker 2 (00:53):
Someone just came up to me and I was like,
let me form something from your name. I'm like, okay,
So from Praise, I think it took out you. No,
from I took out I, n A Okay. Then from
Praise it took out r A and then added wise
it so but me, I thought it was more like
inner read.
Speaker 1 (01:14):
So when I.
Speaker 2 (01:15):
Thought about it, I was like, that's fine. I think
I liked the name, and I ran.
Speaker 1 (01:20):
I'm sure you won't struggle with domain name because when
I registered my business it was not Yeah, that's good
that's quite innovative. Okay. So what what what else nars
to What kind of patients are you into? Okay?
Speaker 2 (01:37):
At first I started with makeup artistory okay, and that
was like when I was eighteen, before I got into school.
That was what I used to do most of my
hand out in school. And so afterwards, when I when
I finished my it, I went to learn the treat okay.
So I think I learned for a year plus. Then
(01:57):
I got back I said, selling, okay, and from there
I combined with my makeup artistry and the products. But
for now, we just sell products for now, but we're
going to go back into make up artistry very soon.
Speaker 1 (02:10):
So when you say makeup at history, is it that
you render makeup services? Okay? Then and alsoso make up
products okay, So now you send.
Speaker 2 (02:20):
Skin products, makeup products, and perfumes.
Speaker 1 (02:23):
Okay. Fantastic, So we can call you a trading company,
I guess. So, okay, that's fine, You're not an important
ASTA no, for now, I don't. Well, of course, hopefully
in the future I should. Okay, that's good. I mean,
so there are four pillars in times, so we can
unlock revenue growth for you obviously, Now the idea is
(02:46):
that we've gotten to know the business and want to do. Basically,
you trade on beauty products, yes, to rent revenue and
hopefully a good markup which will become your profit. Is
that correct? Yeah? Okay? Now to begin with, can you
estimate how many clients you currently have or your servicing
(03:07):
on a monkey basis?
Speaker 2 (03:09):
On a monkey basis, yes, I can't tell, but at
least in the month, at least I have about people
that come back, at least like twenty twenty people come back, Yes,
come back to how many new people or maybe someone
that refers me to them? Or maybe about maybe five
(03:31):
five person month? Yes, I lease see existing customers.
Speaker 1 (03:35):
No, I have more than twenty customers. I mean like
returning customers. Have more than twenty returning customers? How many?
At least about fifty five? So I think the first
step in unlocking your growth now is that you truly
know your numbers.
Speaker 2 (03:51):
I do know, but it's like it's in my invoice.
I did count many customers I have and.
Speaker 1 (03:57):
To you need to okay, yeah, because I would be
that if you've serviced I say, two thousand clients in
the last one year. If you have those two thousand
clients coming back, that's a lot of revenue for you.
So if you have just a fraction of those customers
coming back, you know, I mean, you're not unlocking all
(04:17):
of the revenues that you can make as a business,
because it costs you more to acquire new customers compared
to the old ones getting the old ones to come back,
and if you've serviced the old customers better, you can
bring them back. For example, I went to see my
dentists over the weekend, and the last time I went
(04:39):
to see the same dentists probably two years ago, and
which means that I've used another I dentist before I
went back to my original dentists. And she called and
she said why didn't I come back? And ano that
as I came back, but obviously I didn't come back
on time. And she started to talking about the business,
(05:01):
and she also mentioned that they are struggling to make
existing customers come back because no now that they have
more new customers and existing customers, And this conversation was
that it's cheaper for them to be able to keep
the existing customers because I'm supposed to be going every
six months. If every other customers that the dentists are
(05:24):
in servicing, they all come back every six month. She
wouldn't need to spend too much on marketing and she
would make good revenue. So the same for you. That's
why you need to know how many customers exactly, and
you need to have all of their databases because it's
the way to follow up. I mean if somebody and
because again because the next question I want to ask
(05:46):
you is also that how much revenue do you make
per customer per customers? Yes, on a monthly basis.
Speaker 2 (05:53):
And mons am I supposed to on the average. Just
give us the average per customers. It defends because some
cos my body just two products and you make five
key okay, and so by like a lot in hostel,
maybe you make like.
Speaker 1 (06:07):
Eighty five average everything okay.
Speaker 2 (06:10):
In a month, maybe to fifty.
Speaker 1 (06:14):
That's two revenue.
Speaker 2 (06:15):
But per customer, per customer, I can't say, because they
don't buy one products sometimes, like I said, becaustomer might
buy ten products and the next person will buy two products.
And you know, when it comes to skin care products,
you don't add so much marking on it, yes, because
when you do all that personally, so you need to
(06:36):
like it's not like you're going to make properate, but
you need to just reduce your own markups so that
it can accommodate your competitors.
Speaker 1 (06:45):
Yes. Now the second step for you is that you
need to know how much you make each of my customers. Yeah,
and also on the average, because what I does for
you is also that it's margineral in your per customer.
When you know writing revenue per customer, you cannot figure
out how to increase that. If on the average you
(07:05):
make ten care from a cost from from customer one
customer per month, you start looking at the hard do
I sell them more so that I can make more.
But if you don't have the accurate data might be
a problem.
Speaker 2 (07:20):
I mean, you know, when it comes to skin care,
people don't talk up skin care every week.
Speaker 1 (07:25):
Every two weeks.
Speaker 2 (07:27):
Now somebody will buy skin care in bog and they
use it for three months six months. Yes, right, So
like for example my hostel customers, those are the ones
that I can say, maybe come back in three months.
In two months when you're don't selling up. But people
that use it because they're expensive, so they need to
be usually smart two months three months, you like I
(07:48):
have not finished the products, but they will be like okay, yeah, this.
Speaker 1 (07:51):
One is almost finished. Okay, okay, I think that's how
this this once is now now give gives us more
more clarity, which makes that it's not not all of
them come back every month.
Speaker 2 (08:02):
Every month is maybe in three months, sometimes maybe when
products finishes it and I be like, okay, let me
just buy an extra just thin case.
Speaker 1 (08:09):
So I think also now in that case, you need
to now find out average cycle in terms of what
is the average time the customer comes back. So once
you know that, you also now look at where now
you can do it on a customer basis. Okay, just
customer buy and how do I get them to buy
(08:30):
more or to spend more to buy more expensive one?
So that can been my car. Do you understand, because
again we're talking about how do you grow your revenue?
So and having clear picture in terms of your business data,
it's the only way to be able to figure out
(08:50):
how to grow it. If you don't have a clear
picture of where the business is, you will know how
to take it from one stage to the next level. Okay, yeah, fantastic.
So now let's let's go to the this time around
toward pill that we've said we've talked about how much
revenue client your opinion, how can you double your revenue currently?
(09:18):
Have you talked about it? Yes? I have.
Speaker 2 (09:20):
Tell us I'm constriting important okay, especially Korean products, Korean
brands because but on the second thought, contriting how much
it is to clear and all the stuff is really
not and is it in Nigeria? Okay, But I just
realized that if I start important, I'm going to make
(09:41):
more profits because some vendors in Nigeria when they buy, yes,
they'll add their the air clearing fees everything then before
they start adding their own markup, so you end up
buying it more expensive as you would when you're buying
maybe a mercure of one hundred.
Speaker 1 (09:58):
So you don't have a lot of agine.
Speaker 2 (10:01):
You're not, don't, I mean, because if you do, if
one thing about skincare is this kind of product that
we sell, it's not like it's not it's not everywhere,
but people that know no, So when you when you
when you see a market of fifteen th on there
and you as vendor in sellingly twenty thousand there, they
would buy from you at first, but subsequently when they
(10:22):
see cheaper you will go even if your own is
more original, there will still go. Yes, there's still go
because everybody wants something that is a bit cheaper here
in Nigeria because things actually not start.
Speaker 1 (10:32):
Also, there's a lot of fakes. Of course, there is
so a lot more people are also quite conscious of
bandaging than actually the price. I mean, I this is
not trying to advertise in their brand. I mean there's
a particular took place that I use censori. Yeah, that's
(10:54):
a lot of fakes around. There is even some popular
big market you stay by fake. So now wherever you
see the region, now you stick to it. You're not
looking at the price. You pack everything they have on
the chef.
Speaker 2 (11:09):
True, But what I'm saying is, yeah, you're also trying
not to chase over your customs. That's just because let's
say that I say a week its allowed might have
ten thousand air benefits on one product, but when it
comes to skink you might get ten thousand air, but
you have to let's say that I bought three items.
Yes that is how I'm going to get it, thank you,
but not on one product. Because when you add ten
(11:31):
thousand air on one product, people who are only from.
Speaker 1 (11:34):
It's quiet Okay. I mean, so you say important, you
can double your venue? Important? Yeah, how is it that
you can double?
Speaker 2 (11:41):
Imagine that way when I start importing, at least even
if I'm selling for the same price I'm selling now,
I know that it's not going to be as expensive
as I used to be.
Speaker 1 (11:51):
You know, or you think I know.
Speaker 2 (11:55):
What I said that I know is I know that
of course all those clearing but I'm not to start
orderinging bulk that was that needed to be shipped and
go through all those their processes. I'm I just I'm
just trying to figure it out. I've not I've not
done my researches. I've not done everything yet. But that's
my construt I'm trying to consider it.
Speaker 1 (12:15):
Okay, Okay, So let's talk about it for your tellers
or the method. Obviously, if you want to consider important,
you have to look at the advantages and disadvantage. Yes,
which means that, in my opinion, now you're trying to
get better imagine. Yes, so you need to be absolutely
(12:36):
sure that you will get better imagine true, because exactly
because importing probably if you can buy directly from the manufacturer,
you understand they have Mokeys you have to buy hundreds.
So again that's the beauty of importing is for you
to be able to buy the mokey at least because
(12:57):
again that's where you'll be able to really aximise imagine
and you're trying to so which also means that you
would need maybe extra money, and which also means that
you will keep more inventory. So you need to be
able to analyze all of those risks you understand and
(13:19):
way and see, Okay, do I still have any advantages?
Does the advantages overwegh the disadvantages, and do I have
strategies in place to also mitigate all of the other risks,
because again sometimes in a b to grow a business,
we can keep business. So you need to be very careful.
(13:43):
So the strategy of importance is not bad. Actually it
can work. You w your imagine, you double your revenue,
you understand. But these are just the nuances in terms
of how to approach it properly and make it to
work so that you achieve the specific objective of growing
revenue that you're trying to achieve. Is that okay? Yeah,
all right, So what other strategy have you thought about
(14:05):
in Dublin? Your revenue ADS ADS of marketing. Yes, marketing,
which means that acquiring new customers.
Speaker 2 (14:14):
Yess when I noticed that when I run ADS, I
have I have more customers, even though some of them
might not come back, but at least they're going to
buy okay, and the ones at least when I run ADS,
I got like three new customers and they stayed back.
So it's two way thing, leader, stay by or just
(14:35):
buy angle okay. So but that's another way to masimized
profits or.
Speaker 1 (14:42):
Increase would you maize profits? Because there is a cost
of art, which means that you have extra costs that
eating too your imagine. Yeah, so what you need to
look at is that do you get enough new customers
to make it to watch your Why the amount you're
(15:03):
spending and running her because again you're trying to imagine,
you now need to deduct the cost of the herd
add from that is true. So which brings me back
to the first conversation we had about looking at your
old customers and see how you can bring some of
the ones that have not brought in six month, three
(15:23):
months back. Do you understand? So in that case, you
can avoid spending the extra and eating into your margine.
I'm talking about the amount of money you spend on her.
Do you understand because obviously hurts are to your cost
line and they're expensive.
Speaker 2 (15:41):
Okay, And most of the time the customers I have
written and they I don't know how they did, but
they always tell their friend to tell their friends if
you provide good service exactly, added nurse friend. Yeah, when
she was in Nahing school, at least like ten of
the Nazis were baring from me.
Speaker 1 (15:57):
I didn't say that.
Speaker 2 (15:58):
I was so surprised because they would see us and
I'd be like, who's your vendor, and they will tell
her that it's me, and they want to buy. Some
of them would not want to buy. They just want
to know how much I sell and who is the
person that they're all buying from. Well, at least it's
a good thing that you're beginning to see my business
and all that.
Speaker 1 (16:14):
Yeah, what this tells me is that you need to
manage the relationship that you have your customers. You need
to find a way to provide good service and also
manage that in such a way that they all lists
come back and also tell of your fantastic services to
their friends and their people within their natal With that
(16:37):
you would have more of word of mouth and refer
our kind of new customers. True, So I think where
the advantage is for you now is that your serviced
a lot of client in the past. Go back, look
into them and see the new ones that you can
pick up calls, check up on them, send them in EMBA.
Might be two for me. What's that message is where
(17:00):
pick up course first your phone, called them and checking
up on you. Have you been been a while? Become
chatty a bit with them, and of course you take
it from there. And you have not brought from us
in a while, So please do that because I think
there's more opportunities for you there than they had because
(17:21):
they had already eating into your thing. Imagine. So now
to just wrap the old thing together. You have the
important side of things. You have now leverage am your
older customers, like your database and see how you can
(17:41):
get at least kind of the guys have not brought
from you in a way to come and buy from you. Okay,
so we employ you to do that in the next
one to two months, will check back on you. You
want to be able to see that by the time
we check back on you, you have double your revenue.
And also one of the other things also that we
(18:04):
have some sort of financial support for some of the
entrepreneurs that we think probably they would need that. So
if you're exploring the important inside, if we look at it,
if we're able to help, we're also going to help
with that. But I think those two strategies we unlock
growth in times everywhere for you, because.
Speaker 2 (18:24):
I have some customers outside the country and sometimes we
like the way is expensive and all that.
Speaker 1 (18:29):
But I'll do that. I'll definitely do that. Thank you,
Thank you so much. There any question for me I
think I should? Yeah, I do so.
Speaker 2 (18:40):
Now how do I how do I maintain my customers
while trying to increase my margency. Let's say that I'm
scared of adding five thousand air profits, yes, okay, because
I know that someone else is selling nipa and it's
probably original as well. Okay, So how do I still
(19:00):
maintain my profits, my margin and still keep my customers okay,
like without them running.
Speaker 1 (19:07):
Away and saying it's expensive and other stuff. Okay. The
foundation of everything first is a proprivide good service. Once
the service is good, there's a tendency for your customers
to become lawyer. Okay, yeah, I do have real customers,
good second day, but I tell you want to increase
(19:27):
need to come out with the reason and communicate that
to them personally individual don't send blast email. Communicate to
each one of them individually. Tired them, Oh this this
is where we are facing now, so we'll move this
price of this one from this to this or We're
(19:48):
still committed to delivering quality services and getting your quality
product so that you don't fall into the hand of cammers.
So you know, just kind of you need to structing
good compose good communications material to kind of like communicate
that to each one of them. You know that we understand.
(20:10):
Any one of them that does not understand, we reach
out to you and they will ask for clarification. So
with that, you know, they know that you're thinking about them,
they know that you're not just gonna wake up one
day and just be tally increased price, and they also
know that you're committed to delivering quality services and quality
(20:31):
product to them. Okay, that works, Thank you fantastic, Thank you. Yeah,
it's been nice chatting to you same year. Thank you
so much. You're most welcome.
How do you grow your revenue? Do you need to
now find out average cycle in terms of what is
the average time the customer comes back? And having clear
picture in times of your business data, it's the only
way to be able to figure out how to grow it. Today,
(00:25):
I'm talking to Praise about our business and we'll be
exploring how to grow our revenue and how to grow
the business in general. H Praise, high Surgy, Hi, nice
to meet you. Okay, what is your brand called? In
a race?
Speaker 2 (00:42):
Pronounced on the score are A?
Speaker 1 (00:45):
Why? Z?
Speaker 2 (00:46):
I know?
Speaker 1 (00:47):
Right? Why? Why? Why is that? Did you come up
with that? Actually? That was not even my idea.
Speaker 2 (00:53):
Someone just came up to me and I was like,
let me form something from your name. I'm like, okay,
So from Praise, I think it took out you. No,
from I took out I, n A Okay. Then from
Praise it took out r A and then added wise
it so but me, I thought it was more like
inner read.
Speaker 1 (01:14):
So when I.
Speaker 2 (01:15):
Thought about it, I was like, that's fine. I think
I liked the name, and I ran.
Speaker 1 (01:20):
I'm sure you won't struggle with domain name because when
I registered my business it was not Yeah, that's good
that's quite innovative. Okay. So what what what else nars
to What kind of patients are you into? Okay?
Speaker 2 (01:37):
At first I started with makeup artistory okay, and that
was like when I was eighteen, before I got into school.
That was what I used to do most of my
hand out in school. And so afterwards, when I when
I finished my it, I went to learn the treat okay.
So I think I learned for a year plus. Then
(01:57):
I got back I said, selling, okay, and from there
I combined with my makeup artistry and the products. But
for now, we just sell products for now, but we're
going to go back into make up artistry very soon.
Speaker 1 (02:10):
So when you say makeup at history, is it that
you render makeup services? Okay? Then and alsoso make up
products okay, So now you send.
Speaker 2 (02:20):
Skin products, makeup products, and perfumes.
Speaker 1 (02:23):
Okay. Fantastic, So we can call you a trading company,
I guess. So, okay, that's fine, You're not an important
ASTA no, for now, I don't. Well, of course, hopefully
in the future I should. Okay, that's good. I mean,
so there are four pillars in times, so we can
unlock revenue growth for you obviously, Now the idea is
(02:46):
that we've gotten to know the business and want to do. Basically,
you trade on beauty products, yes, to rent revenue and
hopefully a good markup which will become your profit. Is
that correct? Yeah? Okay? Now to begin with, can you
estimate how many clients you currently have or your servicing
(03:07):
on a monkey basis?
Speaker 2 (03:09):
On a monkey basis, yes, I can't tell, but at
least in the month, at least I have about people
that come back, at least like twenty twenty people come back, Yes,
come back to how many new people or maybe someone
that refers me to them? Or maybe about maybe five
(03:31):
five person month? Yes, I lease see existing customers.
Speaker 1 (03:35):
No, I have more than twenty customers. I mean like
returning customers. Have more than twenty returning customers? How many?
At least about fifty five? So I think the first
step in unlocking your growth now is that you truly
know your numbers.
Speaker 2 (03:51):
I do know, but it's like it's in my invoice.
I did count many customers I have and.
Speaker 1 (03:57):
To you need to okay, yeah, because I would be
that if you've serviced I say, two thousand clients in
the last one year. If you have those two thousand
clients coming back, that's a lot of revenue for you.
So if you have just a fraction of those customers
coming back, you know, I mean, you're not unlocking all
(04:17):
of the revenues that you can make as a business,
because it costs you more to acquire new customers compared
to the old ones getting the old ones to come back,
and if you've serviced the old customers better, you can
bring them back. For example, I went to see my
dentists over the weekend, and the last time I went
(04:39):
to see the same dentists probably two years ago, and
which means that I've used another I dentist before I
went back to my original dentists. And she called and
she said why didn't I come back? And ano that
as I came back, but obviously I didn't come back
on time. And she started to talking about the business,
(05:01):
and she also mentioned that they are struggling to make
existing customers come back because no now that they have
more new customers and existing customers, And this conversation was
that it's cheaper for them to be able to keep
the existing customers because I'm supposed to be going every
six months. If every other customers that the dentists are
(05:24):
in servicing, they all come back every six month. She
wouldn't need to spend too much on marketing and she
would make good revenue. So the same for you. That's
why you need to know how many customers exactly, and
you need to have all of their databases because it's
the way to follow up. I mean if somebody and
because again because the next question I want to ask
(05:46):
you is also that how much revenue do you make
per customer per customers? Yes, on a monthly basis.
Speaker 2 (05:53):
And mons am I supposed to on the average. Just
give us the average per customers. It defends because some
cos my body just two products and you make five
key okay, and so by like a lot in hostel,
maybe you make like.
Speaker 1 (06:07):
Eighty five average everything okay.
Speaker 2 (06:10):
In a month, maybe to fifty.
Speaker 1 (06:14):
That's two revenue.
Speaker 2 (06:15):
But per customer, per customer, I can't say, because they
don't buy one products sometimes, like I said, becaustomer might
buy ten products and the next person will buy two products.
And you know, when it comes to skin care products,
you don't add so much marking on it, yes, because
when you do all that personally, so you need to
(06:36):
like it's not like you're going to make properate, but
you need to just reduce your own markups so that
it can accommodate your competitors.
Speaker 1 (06:45):
Yes. Now the second step for you is that you
need to know how much you make each of my customers. Yeah,
and also on the average, because what I does for
you is also that it's margineral in your per customer.
When you know writing revenue per customer, you cannot figure
out how to increase that. If on the average you
(07:05):
make ten care from a cost from from customer one
customer per month, you start looking at the hard do
I sell them more so that I can make more.
But if you don't have the accurate data might be
a problem.
Speaker 2 (07:20):
I mean, you know, when it comes to skin care,
people don't talk up skin care every week.
Speaker 1 (07:25):
Every two weeks.
Speaker 2 (07:27):
Now somebody will buy skin care in bog and they
use it for three months six months. Yes, right, So
like for example my hostel customers, those are the ones
that I can say, maybe come back in three months.
In two months when you're don't selling up. But people
that use it because they're expensive, so they need to
be usually smart two months three months, you like I
(07:48):
have not finished the products, but they will be like okay, yeah, this.
Speaker 1 (07:51):
One is almost finished. Okay, okay, I think that's how
this this once is now now give gives us more
more clarity, which makes that it's not not all of
them come back every month.
Speaker 2 (08:02):
Every month is maybe in three months, sometimes maybe when
products finishes it and I be like, okay, let me
just buy an extra just thin case.
Speaker 1 (08:09):
So I think also now in that case, you need
to now find out average cycle in terms of what
is the average time the customer comes back. So once
you know that, you also now look at where now
you can do it on a customer basis. Okay, just
customer buy and how do I get them to buy
(08:30):
more or to spend more to buy more expensive one?
So that can been my car. Do you understand, because
again we're talking about how do you grow your revenue?
So and having clear picture in terms of your business data,
it's the only way to be able to figure out
(08:50):
how to grow it. If you don't have a clear
picture of where the business is, you will know how
to take it from one stage to the next level. Okay, yeah, fantastic.
So now let's let's go to the this time around
toward pill that we've said we've talked about how much
revenue client your opinion, how can you double your revenue currently?
(09:18):
Have you talked about it? Yes? I have.
Speaker 2 (09:20):
Tell us I'm constriting important okay, especially Korean products, Korean
brands because but on the second thought, contriting how much
it is to clear and all the stuff is really
not and is it in Nigeria? Okay, But I just
realized that if I start important, I'm going to make
(09:41):
more profits because some vendors in Nigeria when they buy, yes,
they'll add their the air clearing fees everything then before
they start adding their own markup, so you end up
buying it more expensive as you would when you're buying
maybe a mercure of one hundred.
Speaker 1 (09:58):
So you don't have a lot of agine.
Speaker 2 (10:01):
You're not, don't, I mean, because if you do, if
one thing about skincare is this kind of product that
we sell, it's not like it's not it's not everywhere,
but people that know no, So when you when you
when you see a market of fifteen th on there
and you as vendor in sellingly twenty thousand there, they
would buy from you at first, but subsequently when they
(10:22):
see cheaper you will go even if your own is
more original, there will still go. Yes, there's still go
because everybody wants something that is a bit cheaper here
in Nigeria because things actually not start.
Speaker 1 (10:32):
Also, there's a lot of fakes. Of course, there is
so a lot more people are also quite conscious of
bandaging than actually the price. I mean, I this is
not trying to advertise in their brand. I mean there's
a particular took place that I use censori. Yeah, that's
(10:54):
a lot of fakes around. There is even some popular
big market you stay by fake. So now wherever you
see the region, now you stick to it. You're not
looking at the price. You pack everything they have on
the chef.
Speaker 2 (11:09):
True, But what I'm saying is, yeah, you're also trying
not to chase over your customs. That's just because let's
say that I say a week its allowed might have
ten thousand air benefits on one product, but when it
comes to skink you might get ten thousand air, but
you have to let's say that I bought three items.
Yes that is how I'm going to get it, thank you,
but not on one product. Because when you add ten
(11:31):
thousand air on one product, people who are only from.
Speaker 1 (11:34):
It's quiet Okay. I mean, so you say important, you
can double your venue? Important? Yeah, how is it that
you can double?
Speaker 2 (11:41):
Imagine that way when I start importing, at least even
if I'm selling for the same price I'm selling now,
I know that it's not going to be as expensive
as I used to be.
Speaker 1 (11:51):
You know, or you think I know.
Speaker 2 (11:55):
What I said that I know is I know that
of course all those clearing but I'm not to start
orderinging bulk that was that needed to be shipped and
go through all those their processes. I'm I just I'm
just trying to figure it out. I've not I've not
done my researches. I've not done everything yet. But that's
my construt I'm trying to consider it.
Speaker 1 (12:15):
Okay, Okay, So let's talk about it for your tellers
or the method. Obviously, if you want to consider important,
you have to look at the advantages and disadvantage. Yes,
which means that, in my opinion, now you're trying to
get better imagine. Yes, so you need to be absolutely
(12:36):
sure that you will get better imagine true, because exactly
because importing probably if you can buy directly from the manufacturer,
you understand they have Mokeys you have to buy hundreds.
So again that's the beauty of importing is for you
to be able to buy the mokey at least because
(12:57):
again that's where you'll be able to really aximise imagine
and you're trying to so which also means that you
would need maybe extra money, and which also means that
you will keep more inventory. So you need to be
able to analyze all of those risks you understand and
(13:19):
way and see, Okay, do I still have any advantages?
Does the advantages overwegh the disadvantages, and do I have
strategies in place to also mitigate all of the other risks,
because again sometimes in a b to grow a business,
we can keep business. So you need to be very careful.
(13:43):
So the strategy of importance is not bad. Actually it
can work. You w your imagine, you double your revenue,
you understand. But these are just the nuances in terms
of how to approach it properly and make it to
work so that you achieve the specific objective of growing
revenue that you're trying to achieve. Is that okay? Yeah,
all right, So what other strategy have you thought about
(14:05):
in Dublin? Your revenue ADS ADS of marketing. Yes, marketing,
which means that acquiring new customers.
Speaker 2 (14:14):
Yess when I noticed that when I run ADS, I
have I have more customers, even though some of them
might not come back, but at least they're going to
buy okay, and the ones at least when I run ADS,
I got like three new customers and they stayed back.
So it's two way thing, leader, stay by or just
(14:35):
buy angle okay. So but that's another way to masimized
profits or.
Speaker 1 (14:42):
Increase would you maize profits? Because there is a cost
of art, which means that you have extra costs that
eating too your imagine. Yeah, so what you need to
look at is that do you get enough new customers
to make it to watch your Why the amount you're
(15:03):
spending and running her because again you're trying to imagine,
you now need to deduct the cost of the herd
add from that is true. So which brings me back
to the first conversation we had about looking at your
old customers and see how you can bring some of
the ones that have not brought in six month, three
(15:23):
months back. Do you understand? So in that case, you
can avoid spending the extra and eating into your margine.
I'm talking about the amount of money you spend on her.
Do you understand because obviously hurts are to your cost
line and they're expensive.
Speaker 2 (15:41):
Okay, And most of the time the customers I have
written and they I don't know how they did, but
they always tell their friend to tell their friends if
you provide good service exactly, added nurse friend. Yeah, when
she was in Nahing school, at least like ten of
the Nazis were baring from me.
Speaker 1 (15:57):
I didn't say that.
Speaker 2 (15:58):
I was so surprised because they would see us and
I'd be like, who's your vendor, and they will tell
her that it's me, and they want to buy. Some
of them would not want to buy. They just want
to know how much I sell and who is the
person that they're all buying from. Well, at least it's
a good thing that you're beginning to see my business
and all that.
Speaker 1 (16:14):
Yeah, what this tells me is that you need to
manage the relationship that you have your customers. You need
to find a way to provide good service and also
manage that in such a way that they all lists
come back and also tell of your fantastic services to
their friends and their people within their natal With that
(16:37):
you would have more of word of mouth and refer
our kind of new customers. True, So I think where
the advantage is for you now is that your serviced
a lot of client in the past. Go back, look
into them and see the new ones that you can
pick up calls, check up on them, send them in EMBA.
Might be two for me. What's that message is where
(17:00):
pick up course first your phone, called them and checking
up on you. Have you been been a while? Become
chatty a bit with them, and of course you take
it from there. And you have not brought from us
in a while, So please do that because I think
there's more opportunities for you there than they had because
(17:21):
they had already eating into your thing. Imagine. So now
to just wrap the old thing together. You have the
important side of things. You have now leverage am your
older customers, like your database and see how you can
(17:41):
get at least kind of the guys have not brought
from you in a way to come and buy from you. Okay,
so we employ you to do that in the next
one to two months, will check back on you. You
want to be able to see that by the time
we check back on you, you have double your revenue.
And also one of the other things also that we
(18:04):
have some sort of financial support for some of the
entrepreneurs that we think probably they would need that. So
if you're exploring the important inside, if we look at it,
if we're able to help, we're also going to help
with that. But I think those two strategies we unlock
growth in times everywhere for you, because.
Speaker 2 (18:24):
I have some customers outside the country and sometimes we
like the way is expensive and all that.
Speaker 1 (18:29):
But I'll do that. I'll definitely do that. Thank you,
Thank you so much. There any question for me I
think I should? Yeah, I do so.
Speaker 2 (18:40):
Now how do I how do I maintain my customers
while trying to increase my margency. Let's say that I'm
scared of adding five thousand air profits, yes, okay, because
I know that someone else is selling nipa and it's
probably original as well. Okay, So how do I still
(19:00):
maintain my profits, my margin and still keep my customers okay,
like without them running.
Speaker 1 (19:07):
Away and saying it's expensive and other stuff. Okay. The
foundation of everything first is a proprivide good service. Once
the service is good, there's a tendency for your customers
to become lawyer. Okay, yeah, I do have real customers,
good second day, but I tell you want to increase
(19:27):
need to come out with the reason and communicate that
to them personally individual don't send blast email. Communicate to
each one of them individually. Tired them, Oh this this
is where we are facing now, so we'll move this
price of this one from this to this or We're
(19:48):
still committed to delivering quality services and getting your quality
product so that you don't fall into the hand of cammers.
So you know, just kind of you need to structing
good compose good communications material to kind of like communicate
that to each one of them. You know that we understand.
(20:10):
Any one of them that does not understand, we reach
out to you and they will ask for clarification. So
with that, you know, they know that you're thinking about them,
they know that you're not just gonna wake up one
day and just be tally increased price, and they also
know that you're committed to delivering quality services and quality
(20:31):
product to them. Okay, that works, Thank you fantastic, Thank you. Yeah,
it's been nice chatting to you same year. Thank you
so much. You're most welcome.
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