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- 2. About Me My name is ‘Seyi Ajani. I am an entrepreneur (founder - JaniCuts), strategic thinker, gentleman and a child of God. I am on a mission to create 100,000 jobs. JaniCuts is a culture driven brand which provides innovative solutions you can trust. • Media and Gifts @janicutsmedia • Logistics @Janilogistics • Fashion @janicuts I also run an NGO called Just Let Go Foundation. We frown at the habit of wastage and encourage the youth to imbibe the habit of giving. I love helping and seeing people grow.
- 3. Overview Chapter 1: Value Chapter 2: Registration Chapter 3: Funding Chapter 4: Selling Chapter 5: Saving Chapter 6: Team Work
- 4. Chapter 1: Value People pay for valuable solutions to problems • Jani's Money Law Problem Solutions Money • To make money, give people valuable solutions Know your worth! • Never Settle for less than you deserve • Quality matters a lot • Be in competition with yourself but know your competitors Understand your market • Recommended Book: Blue Ocean Strategy by Renée Mauborgne and W. Chan Kim
- 5. Chapter 2: Registration • Give your business a unique name - brand identity. Get a graphic designer or a media company to help you with branding. • Register a business name (Sole proprietorship) on the Corporate Affairs Commission (CAC) website • Tax - with your CAC certificate you will generate your TIN (Tax Identification Number) from FIRS. The Certificate, TIN ,your passport, form of identification and NEPA bill can be used to open a BANK account. • According to the Federal Inland Revenue Service (FIRS) a new business has 18 months tax exemption period.
- 6. Chapter 3: Funding • People need the right reason to invest in your business – what is your business growth potential? Potential sources of funding: • Personal cash/ family and friends - this is advisable for a small start up • Angel Investor • Venture Capitalist Angel investors are rich individuals who invest their own money into businesses while Venture capitalists are employees of venture capital firms that invest other people's money. • Bank Loan – not advisable for a small start up • Grant - unlike loans, you don't need to pay back
- 7. Chapter 4: Selling Emotions or logic? • Decision to buy is triggered by emotions • Your job as a sales person is to make people emotional while you remain logical • People will buy from you if they like you. The VAA selling Principle • Voice - Be Clear and Confident • Attitude - Be Calm and optimistic • Appearance - Look good! 95% of the first impression we make is based on the way we look • Book recommendation - Psychology of Selling by Brian Tracy
- 8. Chapter 5: Saving • You do not become rich to save rather you save to become rich Invest in assets not liabilities • Assets: things that add money go your pocket, things you own • Liability: things that take money away from your pocket, things you owe • Is your phone an asset or a liability? Proverbs 23:5 - money has wings! • Have an investment plan • Separate your personal account from your business account • Pay yourself salary to take care of your personal needs.
- 9. Chapter 6: Team Work • You can't do it alone, you need the right team to develop and execute the vision • We live in a digital age, you may not need an office at the early stage of your business. Work from home or outsource production depending on your type of business. Building the right team • Clearly state your goals, mission and vision • Trust and respect your team – boosts confidence, leading to high productivity. • Communicate - do not assume that they know and always listen to them. • Celebrate and motivate
- 10. Key Takeaways One Value Two Registration Three Funding Four Selling Five Saving Six Team Work Key Takeaways
- 11. Remember: Only you can make that decision to build a successful business, ONLY YOU!
- 12. Thank you!