[0:01]GIMPA Business School presents PRACTITIONERS FORUM VI
[0:12]I actually intentionally took, because we are dealing with how to how do small businesses in marketing operate. Um, I deliberately I selected you, um, the two of you, um, both of them because, um, sort of small business and the medium, you are not dealing with a micro, yeah, but small business marketing operate.
[0:33]Okay. Also with the unique characteristics of your business, which we will come, we would, um, sort of discuss, um, we will talk about um, later. Um, so that is also speak to, uh, Mr. Aniwu. Is it Aniwu? Yes. Yes, sir, it's Aniwu. Aniwu. Okay. Hi, Madam Victoria. Hello. Good morning. I'm fine. And you? I'm blessed. I'm blessed. Thank you. Thank God. Yes, uh, I am, uh, I am Isaac Aniwu. And uh, yes, uh, currently student of GIMPA, and also a business person with so many experience. Yes. I established my company in year 1998. That is over two decades ago. And uh, I am into I am into fast moving consumable goods, that's the FMCG. And the industry is one of the fastest growing industry currently in the world. And though, yes, the profit margins are small, but but it's a recruiting it's it's very good industry. Simple because the goods move very fast. So basically that is what I do now as a form of introduction. Okay.
[2:14]That's as a form of introduction. That's, that's good. Um, So, maybe to continue the name of my company is Glorious Move Enterprise. Under my portfolio, also I run Glorious Haven Montessori School. I am into Estate Development and also distribution as part of the business portfolio that I manage.
[2:56]Okay.
[3:02]The that the visible, yeah, that's that's that's what you do.
[3:12]Okay, can I say mine too? Yeah, yeah. My the name of my business my company is Vicky Classic Shoes. I started in October 2018. I started right from when I I lost my job because you know, the corporate world is a bit aggressive. So I I lost my job and in the search of searching a job, I said, ah, why not do something with what I've learned in the classroom? Because my job requirement at the job market was to sell. That is sales. So if I have that experience, why not start my own business? So I started. I I started with a few number of shoes. That's why my name is my the business name company is called Vicky Classic. I started with shoes. So I started small small by selling shoes to my church members and my friends. So as time goes on, gradually, I started building up. And, uh, it's basically online business. My my company is basically online business. So I have this, uh, I post my goods on my status, Facebook, Instagram and Snapchat. Yes, and, uh, I think it's it's it's okay. I also go to, uh, offices. I also go to offices to do some sales. So introduce my goods to them, that is the shoes, men, female and males, kids shoes and shirts. Yes. That, that's what I do. Okay. All right. Two people are doing different ends. One with a lot of experience, one with, that's important. What I want to know is that, now, what you you've given us the reason, the motivation for setting up your business, as to, yes, job loss, etcetera, and all that. And what about Isaac? Yes. I read your bio a little bit, etcetera, but I just want to know, yes, because we want to understand that, the whole thing is to get people to understand that it is not, it's to demystify entrepreneurship. That the this whole thing. And then because we've been loading them with a lot of concepts in the school, and I mean, concept and practice, yes, you it, they are two different ways. Though, yes, and we have to get people know how to move from concepts into practice. Yes, uh, my, my, my journey for entrepreneurship started this way. Um, as a young man growing up, I aspired to be self-employed. Just like others will like to be a doctor, others will like to be, um, engineer, uh, architect and so forth. Lawyers, I aspired to be self-employed. So when I came to Accra, initially to stay with my brother and work with him, that is when my journey began. So, when I came to him, I started by telling myself that I'm schooling in his company, which happened to be, the name happened to be Penny Savers Enterprise. So, as I've intentioned to be self-employed, and also want to, uh, uh, uh, want to learn, I got myself a book and start writing my observation while I was there with, with him. So I will know how the market trend is at that time. So, I start observing the seasonal goods that was doing well in his shop, and also, uh, seasonal being the wet season and the dry season, the kind of goods that, uh, customers normally patronize, and on occasion like Easter and Xmas too, also the kind of goods that customers are interested and moves very fast. So, I jotted all this down, and at that time too, uh, when the AMA people, they come around a lot, so I also consider my sanitation as being a major challenge and a a major challenge if I want to be an entrepreneur with a repeatable and, uh, able to establish myself with time with my customers, environment, will have to be kept neat and all that. So that began the this in the journey. So, as I was jogging, jogging, down notes and making notes, while working with my brothers, I will call this stage as an apprenticeship kind of stage. And, uh, from there, I came to a point in time that I said, no, let me venture on my own. And, uh, when I told my brother that I wanted to leave, he said, no, wait, you cannot venture yet. Have tuition. Yes. So with I did, I did, and he equally told me that, uh, as a young man growing up, when you come to a place like Accra, first of all, you think of where to lay your head. Oh, yes. So, let me get you an accommodation. Meanwhile, I wasn't paid or he was not paying me at that time. So, let me get you an accommodation. I say, why not? So I was in the process of, uh, getting the accommodation, then he came and said that, oh, I should hold on. Hold on, hold on. Why, he's doing some major investment, in which it is quite, uh, financial demanding, so I should hold on. In which I did. In fact, I wasn't happy with that situation, but with time, he reverted and said that, for some reason, the transactions did not come on, so I should go on. I got a green light, and got the room. Got the room, and as a young man, manage to, manage to get myself some TV and refrigerator in my room, and so forth. So, with time, the age came back again strongly that this time, I should still leave and establish on my own. In which I went back to him, and told him that I wanted to leave. And he said, okay, if I want to leave, fine, by this time, I have no money for me. I said, all right, since I'm determined to leave, I will still go ahead and leave anyway. I did. So, how do I finance this living? Yes, I did. So, how do I finance it? Yes. And that became a challenge. Simple because as I was leaving him, I didn't have any income or capital with me. I wasn't paid by then. So I sold some of my belongings at that time, which happened to be my TV. I sold it. The fridge, I sold it. And also, the room that I rented not long ago, I will have to rent the room back. Rented the room, I went and lodged with, with his boys, you know, some of his working workers. Went and lodged with them. Then, then ventured and went and bought container. So I started humbly from a container shop. And, uh, went to family members for for for money in terms of support to to to stock the store. And also by then, when I was with him, I was doing a bit of purchasing for him. So I got to know one or two people, and I went there for credit items. So you went to some of the people that he's, um, that supply him, and you went for some credit. Yes. Exactly. Okay. That's that's the whole, yeah. Because most of the time, one of the main things in small start-up, um, um, micro-enterprises, people, we talk about entrepreneurship, the issue is that, oh, how do I get the money to start? How do I get So sometimes it's not about getting the big, not about the money. Yeah. It's true. It's true. For you to start. It's true. It is true. The money for you to start. It is about, yes. We can get, there's a lot of a bit of commissions here, a lot of the people, the margins. A little funds. Yes, yeah, that's, that's the, that's the whole thing. Yes. In your industry, you are dealing with, um, FMCG, FMCG. Sorry. FMCG. And that that that fast moving consumer goods. The margins are not that very, they are not big. Okay, but it means that you have to do a lot of throughput, you have to sell a lot to be able to. Yes, people. Yeah. That's a lot of customers. Yes. And basically, it's the same concept. I I've looked at some of the very big, big, um, international retailing, customer. Like the Tescos, the Sainsburys and all those things. And basically, it's the same thing, but the scale, it's just the scale. The concept, the business model is the same, but it's the the concept that has gone, yes, yes, is at a certain way. They buy, and then they because of their size, they are able to get a lot more, um, discounts from their, um, progress to be able to sell. Yes. So how do you manage that in your, in your business, um, Mr. Aniwu? Yes. Yes. Uh, managing in terms of securing goods. Yes. Securing goods. I've already said, uh, I did that through credit. Yeah. Through credit facility. And though it was difficult, so at a point in time, I have to go and seek for a loan also from a sibling. Yes. All right. From a sibling in which I had it in a foreign currency that I have to pay it later on. So I go to the companies also. Yes, like the Unilever outlet, Nestlé, Nestlé and other listen, other FMCG goods outlets. Yes, to see goods to come and sell, which is a very fast moving industry, as I've already said. So, how do you meet like because most of them, they have some, um, criteria for their distributors, and they have small, and very large, and that sort of thing. But then in also, they have some, you have to get some amount, the minimum amount of money, um, to be able to start as a distributor for them, uh, and all that. Those are some of the How do you manage some of these things? Like the money that you borrowed, that's what you use you use to pay those things. Yes, you reinvest. You reinvest. Exactly. Reinvest. Is that how you do it?
[14:26]Yes, basically, that's that's how I did it. I did it by reinvesting the money that I have. And also, with the distributorship, I initially, when you go to them, they start you from somewhere. Uh huh. They start you from somewhere. So, uh, basically, when you go to Nestlé, for example, at that time, you're supposed to give about 100,000 deposit for them to supply you. So if you cannot pay the 100,000, what you do is that you partner. Okay. With someone who have that capacity to purchase. Then you partner with them. So when the person goes to buy the goods, then you go and stock a portion, and sell it for you to be able to make some. Because they also give you some time a period for you to be able to sell the goods and come back and that sort of thing. Yes, the target is given. So your outlet becomes a kind of a twin outlet, a twin outlet for the for the person, for the other, the umbrella person, and you're able both of you are able to sell, um, that quantity and be able to go back for another set. Yes. Yes. Okay. That's that's that's good. Yes, yes. So, you're able to yeah. And you're not going. Yes. You're not buying that sort of a, Yes. Okay. For me when I I started, when I started initially, I got some suppliers that supply me with some of the goods. That's the shoes, men shoes, the shirts. So I go to them. I I I took some some money from my savings. So I used them those savings, and I used it to purchase some of the shoes. That is sizes of the shoes. And then I as I have gotten them from my suppliers, I told them that as time goes on, I may come for a larger quantity. Yeah. Sometimes, normally, they give you a large quantity because you know, there's there's a competition. So if you want to buy something small, they won't give it to you. So I assured them that I just started, so they should allow me to get a a smaller quantity. As time goes on, I'll come for a larger quantity. So that is what I did. And God being so good, I think as I started going to the offices, I realized that people in the offices don't have much time. They can't get time to go out to buy things that they need. So, it's like I have I have solved some, uh, problem. Yes. I have solved a problem because somebody needs a shirt for an a conference, and from Monday to Friday, he wouldn't have the time to go out and look for the shirts. So as I get to the office, and I showed him the shirt or the shoe, sir, this is what I have, uh, then, let me have a look at it. Oh, it fits. Okay. How much is it? Uh huh. And I have solved a problem. So, through that, I, I I made a lot of customers, I I I got a lot of clients that even call me. They do call me when they need something, because they trust my brand. They trust I can give them a quality thing to, I mean, to to have confidence when they put it on. Yes. So I solely started with my own coins that I have and God being so good. I think I have some suppliers that supply me things when I needed them. And I also order some from outside. Outside. Okay. Yes. I order some of the goods, mostly some of it from outside. Yes. I do that. And before it comes, I have to inform whoever, that's the customer, that this social and so product will come in two or three weeks time. Are you ready to wait? If you are okay, then fine. Then I'll have to order it for you. Yes. So that is, that is how my business is going now. So you order, it's a made-to-order thing. You order based on, on that, then I'll order for it. So you don't necessarily have it. So it's an it's more of you don't have a lot of brick and mortar, you don't have big like warehouses or stores at the moment. You don't have it. I don't have it. I don't have it at all. I don't have it like this. Yes, it is true. It is a good, is a good venture, a good business venture. Yeah. To I mean, for those who are complaining of unemployment, they can try. It's it really helps. Yes. Yeah. Because it it's not a sort of, I'm looking at it. It's gradual, and and I'm kind of you can build up, you can build up. It cuts down some of the initial capital cost investment like getting renting a store and all going to get a store now. I mean, concrete or something. Yes. The amount of money you have to pay, and then the, whatever, the rents, I mean, for a year, two or three years of rent and. all that money for now that you have to use it as your capital to turn around until you're able to generate some money before you can, yeah, yes, you can look at that portion. Yes. There's a lot of an online, sort of most of the big supermarkets are looking at some of these concepts now with all these, um, motto, um, uh, uh oh, What's what's going on? What's going on? So, so so so they were stocking and buying exactly the toiletries, the laundry soaps, and especially the food. The food, the provisions. They were just queuing and queuing and buying in the in the quantity that at the normal circumstances they will not buy. Exactly.
[28:26]But because the family is in the house, I mean, including the children and, uh, and everybody is in the house, there is no movement. But yes, people are eating. Yes, people have to, have to consume this fast moving, uh, listen, products. So, the COVID for my, so the blessing for your industry, basically, Yes. You see that's the two two ways of the queen. You were benefiting and it has been. I was affected. Yes. Yes. It's the other side of the coin. Exactly. I was affected. Yes. We still, we are still doing well. We are still pushing. Yes. We are still pushing. Yes. Isaac. Yes.
[29:53]Okay. Thank you for having us. Thank you for having us. Thank you for having us. Oh, wait.
