AFRICA TOUR DAY 3, June 17th, 2021 | iLEAD GLOBAL

Today we will deal with money, money, deep money, money, money, money, money. So I will deal with money. One of the reasons, one of the excuses people give when they want to go from dream to reality, or when they tap into the entrepreneur world, is money. Where the money is gonna come from? Who's gonna fund the deal? Who's gonna pay for my vision? Who's gonna help me? Hey, at the end of this training, you understand that if you master this, you know exactly where to go to get the money you need to fund your vision. Rich people are people with vision, not people with money. Vision attracts money. Money does not attract vision. That's why you see you have people who are looking for where to put their money. So as an entrepreneur, I mean, you have an unfair advantage. You should never, ever, ever worry about money. Never, ever. If you have an idea, if you have an idea, that's all you need. The money should come to you. However, you have to know how to package the idea properly so the idea can attract money. Anybody with a business idea, with a small shop, with— who want to create something, just like what Tunde said, there's more people with money that are looking for a place to put that money than people with ideas that are looking for money. So many banks, so many hedge funds, So many people walk around, make advertisement. Matter of fact, I probably get more than 20 credit card invitations per week. Just junk. This person want to give you a loan, they want to give you money, they want to give you money. Now, why people have this challenge? Why people have this challenge? Why people are not able to fund their dream? Why people are not able to fund their business? Why people are not able to land that business with the money they are looking for? There's a few reasons. You know, I want to go quick with my presentation because I want to deal with questions, with practical questions. I want you to give me a case like, okay, this is what I do. How can I get money? So I could tell you exactly how to get money. So I will be fast with the presentation and then take a question with the rest. So the first thing is the international, the more advanced country, there's more money there than certain poor countries. You may not see somebody who can give you $1 million in Africa. But in the Western, you will find a lot of people that are sitting on their money and they are getting 1% yearly. 1%. That means you put $1 million in the bank, you accumulate interest on 1% yearly. What does that represent out of $1 million? What's the 1% of $1 million? Put in the chat room, I want you to be active. $1,000. $1,000! That's the 1% of $1 million. So somebody is putting $1 million at the bank for $1,000. Do you think this guy is happy? No. He want a better return on his investment. Those that pay so much in the United States today, that you probably have between 5 to 9%. So for $1 million, you either have $5,000 or $9,000. For a million dollars per year, not per month. Guess what? All these guys are looking for a right project to put their money in. Now, how could these people— how can you approach these people? We say you have to structure your business for international standing. Listen, just like the way Coach Tunde approached investors in America, in China, This guy don't understand that a lot of Nigeria eat fufu. They don't know. This guy don't know. He don't— I mean, you probably assume that, hey, so you don't know that people eat fufu in Nigeria? Almost everybody eat fufu. This guy don't know. You have to have what we call a structure your business and develop a business plan. A business plan. If you are in a business and you are looking for investors, even if it's a family member or an international person, and you don't have a detailed business plan, maybe that's why nobody wants to give you the money. Do you know what people eat in Texas? No. Imagine I come and ask Andrew, Andrew, I want you to put $2 million in my restaurant in Texas. No. Because I know I can sell like 10,000 burgers per day. He'll be like, what? Burger? What's that? In his country, in Tunisia, maybe they're not eating burger that way. So he don't understand. I have to make sure I present to him the way he understands, right? So that's why in your business plan, you have to develop a detailed business plan. Matter of fact, for those that are in the School of Coaching, I mean, of 365. After this, after this, uh, this course, I will put what we call the, um, it's like a software business plan. You can just plug the number and it's going to activate on its own. I want to give to everybody in that school for free. You have an ID, develop a business plan. It's like a software, you just punch the number and change the company name. It's gonna tell you what to address, what to address, so you can have at least a basic business plan. And anybody can do it. Anybody will be able to do it. So, Coach Keith, please remind me, make sure we, we activate that in the School of 365. So, because that's where everything starts. In order to convince yourself You must have a business plan. Sometimes I have to go back on my business plan to make sure I'm not off track. You have to develop a business plan. So I'll make that available. So if you don't have one, please don't even ask for money. Don't even think about money because your business is in your head. Nobody knows what is going on in your head. or in your heart, or you are so passionate about it, you have to be able to lay the business out. You don't have to have a resource before you lay the business out, because there are people after you draft the— your initial investment from any idea should be your business plan first. It doesn't matter what you are doing. Every day I develop like 3 business plans. When I have an idea, I make a business plan first to even see if it's gonna make sense or not. For those who are close to me, I don't start anything without having a business plan with it because the business plan is gonna help me to have more clarity. So before you talk to anybody Have a business plan. You have your full detailed business plan, and then you have what we call the little pitch presentation that talks briefly, summary about business plan. I'm not asked to make your business plan and just take and send to everybody. No. You have a full business plan that's for you. Any investor, you give them a summary of the business plan. No investor will read your whole business plan. When they pick that, they look for a few things. Who's behind this? What's the market? What are you looking for? What's the return of the investment? How long is it going to take to get the money back? And what does the future look like for me in this thing? That's what more investors will look. Okay. So I'll talk about an investor, how to raise capital, where to get money from, where to get money from. The reality is that this thing is so funny. Most of my business, most of my business, Now I was able to raise so much money without talking to a banker, without talking to anybody. Where is the first place to go and raise money? Put in the chat room, because I know this is magical. Put in the chat room. Let me open the chat room on my other computer. Where should we go to raise money? Sebastian said bank. Nope. Thank you, Koshano. Friends and family. Friends and family, they are walking around with the billion dollars. They have more money than the bank. The banker don't have any money. Your friends and your family have more money than Anybody. That's where you get most of the time for my business. I mean, yeah, last time I just— I had money from the bank, but I always start with friends and family. I have some friend that call me from time to time and say, hey, I have $100 million, I have this, I have this, what could we do, Raf? Friends and family, there are people who know you. They trust you. And you have more friends that are not in business, they are just professional people, but they are sitting on money. They are sitting on money. I was on the phone with one of the persons that I coached yesterday. He told me, I have about $1.3 million, what should I do with it? I said, give it to me. Let me come up with one project. You always have people with money, they don't know what to do with it. But guess what? Never lose your friend or your family member money. Don't put in something that you know you're not sure about it. That's why it's so important. It's so important to understand your business before you start raising money. So the first place is. to go to your friends and family. That's why when we, we teach about the 15 Laws, we teach about integrity. When you are an honest person, you keep your word. People know that if they give you the money, they will never lose it. You rather die than let somebody lose their money with you. The day— because your first deal, friends are gonna give you some money. And if they get their money back and they have more better return, every day they will be calling you with money. Like, hey man, do you have any deal? What are you doing? I have some money, man. They will rather pass the money over to you. So your friends, it's very, very important to maintain good relationship with your friend and family member the same way. Be a person of your word. Establish your credibility around your friends and your family. Don't just call them when you need money. That's why we talk about the law of, uh, uh, how to become a person of influence. Develop relationship. Relationship is more valuable than tangible money. So the day you need it, it's gonna be there for you. Any business person that doesn't value relationship is somebody that is wasting money. Don't wait until the day you need money to go to the ATM. No, your friends and family are your first ATM. Make sure they trust you. When you borrow money, pay back, even to your mom, you know, even to your siblings. Pay back. Be a business person. Keep your word. If you establish credibility with your friends and family, around the people you know, and you are around a big network, you always have money. Matter of fact, most business people, for their first 2, 3, 4 million, what we call the early-stage money or the seed capital, always come from friends and family because the banker is never gonna give you money because you never prove yourself. They don't know you. So your first bank is friends and family. Where's the second place to raise money? What's the— where's the second place? Put in the chat room. Angel investors. Do you have my PowerPoint with you, Julia? How do you know that? Okay. Angel investor. Angel investor. Awesome. You have some great people who have money. You know, they're just good. They want to, they want to see you succeed. They have way more money than what, than what they can use. So you call them and say, hey, maybe somebody like Coach Coach Angela, you know, to be an angel investor, you don't have to have a billion. You don't have to have— I can call Coach Angela and say, hey, I need $50,000. I'm doing this project, blah, blah, blah. If she really like me, she can give me money. The name, the term angel, you know, good heart people. She'll trust me and be like, you know what, let me give Raf this $50,000 to take off with the business that You want to do, and I have to make sure I have a good term. We'll talk about terms later on. Never borrow money. No, never beg for money. Maybe that's why you never get it. Don't ask your mom to help you. Don't ask your dad to help you. Pitch your dad as an investor. Pitch your sister. Make sure they have something out of it. Don't appeal to their emotion and let them feel bad. Because when they give you money once, they will never give you money. They will never show that they can even see money. This is a business. Even if it's between husband and wife, you want money from your husband, pitch the husband. Let him invest and let him make some money out of that. He'll become your best banker. He'll be asking you, sweetheart, do you need more money? Because you are making, making money. So don't beg. No, forget about begging. Even if it's your mom, make sure they get the return on their investment. Hey mom, I'm opening this restaurant. I'm gonna be selling chicken. I want you to invest $10,000 on me. Mom, I'm giving you $300 every month, $500 interest every month on your money. And make sure you do it. If you do that and pay mom 3, 4, 5 times, your mom will keep telling you, Tunde, do you need more money? I have $30,000 that I'm not doing anything with it. Let me know if you need it. Whatever you need, let me know. That's how it works. So second place, angel investor. You have angel investors around you, people who love you, people you have great relationship with. Go and sit down, take appointment with them, and go and talk to them about your project and ask them to invest. Look at them in the eye and say, today I want you to give me $10,000 for this business. I want you to come in as an angel investor. They will do for you. They may say no, but if you don't ask, you're never gonna know. There's so many— I mean, not so many people, Most people with extra money rather put it into a business that can give them a better return, or that, you know, that could be just a business that is helping them to fulfill part of their human need. I like to invest in nonprofit organizations because it makes me feel good. I feel like I'm accomplishing some great thing. If you tell me that, hey, I have this program where I'm helping young women get off the street and I need some fun versus— and maybe I can get 5% return on my money versus another person who say, hey, I want to sell sexy clothes and they can give me 15% yearly on my money. I'd rather put my money where I get less money but be fulfilled. Be like, yes, me and Doris are getting young girls off the street and put them, channel them back, right? So angel investor, most angel investors, they invest to fulfill a need also. They want their money to do something good for them, something they can feel good about themselves. You know, there's a lot of guilt when you are rich, when you have money. So when you invest in something that can cover that guilt, you feel good. You walk around knowing that you are helping people. So that gives you freedom to enjoy the rest of the money. Good, good. So what, what, what's the third way to raise money? Let me see if you could— if you guys truly have my note. Okay, what's the third way? We talked about family and friends, angel investor. What's the third way? Where do you go get the money? Okay, Delia, you are doing well. Crowdfunding. Crowdfunding. This is a basic, basic, basic way to look for money. And how does this work, the crowdfunding? How does this work? This is a— I mean, let's say you want to— you have a farm, you want to get into farming. You have, let's say, 100 acres of land and you want to cultivate cassava. You can actually— there's a few websites that I'll share. You can go on that website and sell cassava before you cultivate it. So people buy and give you money, and you take that money and go cultivate and come and deliver the goods. Crowdfunding is very, very, very, very very easy to use that method to, um, to use that method to raise capital. Even if you want to do a— let's say you are a designer, you can make some type of shoes and sell it. People pay you first. You can sell so many of them before you place an order at the manufacturer to get the shoes and then deliver. So it's saying get into business, make money before you actually go and produce. It's very, very common today. You can do from Africa, you can do from Europe, from anywhere. You can set that way that enable you to do— I mean, somebody like, uh, Coach Ramatu that is into farming, she can send her chicken for the whole year before, before actually producing. But you have to, you have to be honest. You have to be honest. Who has a question about this 4th one? Did you understand? The concept is very, very simple. Whatever you want to produce, you can sell it before you produce. This actually even helps you if you have a product that may not work. You know, you know that, hey, maybe this is not gonna work. This is not gonna work. This is not gonna work. Okay, number 4. How do you— how can you raise money? Number 4, number 4, when you have an idea and you need money, is to look for partner. You get partner, people with money, to bring you money into your idea. It's your idea, they bring the money so you can take off with the business. Partnership. So the first, the first 3 ones are the simple method. When you start get to the 4th, you know, you get somebody with money and say and tell him, loan me the money. You tell him, okay, let me give you a piece of my business. So you give me the business. So you sell him part of the business and then you collect the money to fund the business. Partnership. So if you can't get money from friends, you can't find an angel, you can't— if it's something that you don't know how to go sell it before you produce, you look for a partner. People love that. You pitch them the idea and tell them, hey, I give you 5% of the company, give me X amount of money. I give you 3% of the company. I give you 10% of ownership. I give you, you know, 20% of ownership. But make sure you don't sell the whole company and lose control. Because when you lose control, the partner will take over the company. And now you lose the power to decide with your own company. So that's number 4. So you can do partner or you can, you know, get with different firms that can do venture capital or just those who have funds that they manage. Most football players more athletes that actually have fun with the manager that is managing those kind of money. They are just looking for things to put their money in. So you can sell part of your business that way, and that can be a very, very, very, very good and effective way to raise capital. Very good, effective way. To raise capital. Now, as a as an investor, most of these people they will have a question. I mean, when you come and talk to your mom or your friend, okay, please, uh, Eugenie invest in my company. Please, Coach Majedo invest in my company. Sebastian, invest in my company. They may not say anything, but what they are thinking is like, what is in for me? What is in for me? It's their money. They work hard for it. That money must go to work for them. What is in for me? What is in for me? You must answer that. You must develop a pitch. For every single investor, I'm not talking about business plan. You need to develop a pitch for them. What it's gonna mean to them. What it's gonna mean to them. And any investor you talk to, make sure you do homework on them. What are some of their values? What are some of their human needs, if you know it? Most of most of you, what you guys talk to me about? A lot of people call me for money, and most of the people who really know me, they say, "Hey, we're gonna help a lot of people." They know when I hear that, I get up like, "Man, we're gonna help people." Uh huh. They're not gonna say we're gonna make so much money. For somebody else, that could be a we'll make so much money. For somebody else, that could be that a you'll be so popular. For somebody else, that can be, you know, let's say if you want to pitch a politician, you want to show him how it's going to make him popular, right? So when he goes to his next, next, uh, if he's running, uh, for the, for the house somewhere, he could use that. If you want to pitch a person on faith, You need to touch their value. What do they value? If you want to touch a capitalist, you want to show him that he's going to make more money, he's going to become more. As a business person, you must be very smart. When you pitch an individual, make sure you do homework on the individual. Make sure it meets their needs. If you are pitching somebody who have so much uncertainty, they are so afraid to be broke, to be poor in the future, show them how you secure the future. So in the long run, they will really have the money they will retire on. You can't use the same pitch on everybody. That's why you must understand the human need. If you go and ask Mike that, I mean, I know Mike. I tell Mike that, okay, Mike, come on, let's go and sell your house, invest in my company. You know what I mean? You have so much money. He'll be like, no, that's not one of his values. It's not about just money, money, money. Maybe if you tell him, Mike, let's, let's go sell your house, invest in my company. we will help tons of people. He may go like, what? How many people? You know? So each person, you have to make sure you understand their value and pitch the person, make sure your product, your service, they can see the value from that angle. And this is completely different. If you need to pitch Ramatu, let's say she always wants to be a mayor of Lagos, and I tell her, hey Ramatu, if you come, you invest money in Ali Global, guess what? You'll be part of the co-founder, and you know, and you'll be more popular. We'll make sure you appear in front of people. She'll be like, huh, that will fulfill my dream. That will fulfill my dream. I'm talking about her dream. I'm trying to answer the question, what is in for me? It's your business. You need the money to be successful. But what is in for the person that you're trying to take their money? What is in for them? Most of the time we don't get the money because we didn't answer that objection. What is it gonna look like for them? Very, very, very important. You must answer this question. How much money do you need? So many people are looking for money and they don't know exactly how much they need. What stage are you in? Are you in your early stage? Are you looking for seed capital? That's the early stage. Are you trying to scale the business? That's like a middle stage. Are you trying to exit? Like you want to wrap up the business and sell it? That's the exit stage, which some people call the mature stage. When people get in, they want to exit the business, they need to make the business bigger so they can get more money out of it. What state are you in? People that put money in, people that invest, most angel investors, when people are in the first stage, they look for seed capital. That means they don't have anything, any return yet, but the business actually has so much potential. I'm trying to To let you see before you say, well, I need money from investor. I need money from my friend. I need money from my family member. I need money. I'm not even talking about a banker because a banker will want you to to to provide way more. But if you think this way, you may not even make it to the bank. You get that money before you go to the bank. So what is so how much do you need? What's the yearly return? How much the person's gonna get out of their money? Sometimes I see people who call me and say, Coach Rob, can you give me $100,000? They don't even tell me how much am I gonna get out of my money. Even when they're gonna pay me back, they don't even tell me that. I'm like, these guys are serious? I'm waiting for him to tell me, okay, I need $100,000. I'm gonna keep for 1 year. You get 20% back. And I pay you this way. This is a guarantee for your money, so you know that you're not going to lose the money. That's what investors are looking for. That's what your mom wants to hear. That's what the angel investor wants to hear. It's not just about taking from the person. How are you going to pay back? Could you prove that you're not going to lose the money? I was actually sharing with one of the— I think that was Coach Arnold— that I learned that it's so hard— it's easy to make money, but it's so hard to keep money. Because when you have money, everybody wants that money from you. Even the money wants to leave you. So most wealthy people, they learn how to keep their money. Wealthy man is a guy who knows how to make money but keep it and let the money work for them, not waste it. Because in reality, we all make money, but some people waste their money, and you don't want to be part of the— one of those that waste their money. Make sure when you pitch your family member, you show them how you pay back. You show them how, what they will gain out of that, and you show them the security. I would tell my mom that, Mom, if I don't pay you back, take— I'm gonna give you that house. If I lose your $100 million, take my house in that city. Yes, and I mean it. Don't say, oh no, come on, Mom, you're just my mom, you can't do that to me. No, that's why she's never gonna tell you that she have money, because you didn't say— you, you didn't answer the problem of certainty. Remember the human need. You must answer that certainty. If it's not, you're not gonna see the money. And any international investor will ask for that. You have to make sure you answer that. The risk factor. I mean, it's not easy to talk about the danger, but when you come transparent, when you are honest with somebody, they trust you more. Sometimes I have people come and pitch me with the thing. I say, okay, what's the risk? They say, come on, Rock, there's no risk in this thing. I said, man, you're not an entrepreneur. There's always a risk. Show me the risk. If you don't know the risk, that's even worse. There's always risk to lose money. There's always— you have to know what is the risk of losing that person money and show them the risk. Let them make a decision knowing the risk. One of the risks is maybe you can die. What do you have in place on that? Maybe you have a lot. You can say, okay, I have life insurance. If I die, my life insurance policy will pay you. What's, what's another risk? Maybe somebody can steal the whole money. A bad manager can steal it. What's another risk? Let's say you ordered 3 containers of things from China. When the thing passed Somalia, the, the guy will stop it and burn it. That's a risk, but find out the risk and show the person so they know that you are true. Never say there's no risk. There's always a risk somewhere. And then both of you guys can look and be like, you know what, this is 1 out of 100. Another risk could be that when you get in a plane to go in that other country to sign the contract, It could be a plane crash. Somebody can steal the money. You can wire the money to the bank and the bank close. They do this a lot in Cameroon. You see one bank, the next day you come, they gone. The place is for rent. What's the risk? Come on with the risk and make sure your mom know, your angel investor know, your partner know, you know. You know, just be transparent with that. Anything you're trying to keep for yourself, you know, it makes another person not trust you more. But when you put that out there, you really, really, really give them that certainty. So that helps them to balance the risk level and make the decision. Thank you. Now, what does your product or service mean to that person? It's very important to do it, to know. What does your product and service mean to the person? I have a young man that reached out to me. We are talking, you know, he's doing farming. farming in Africa. We are talking and he's helping people in village and all that, you know. To me, I mean, what does that mean to me? It's something important to me. I like to help people. I like to see people's lives change. I will invest in something like that even if the return of investment is not much. But maybe somebody else is not going to do it. They don't care. They will look at the return on their investment. So when you look to invest, make sure you show to the person the way based on the human need. What does that mean? What value does that give to the person? If you have a program where you are rescuing— No, actually, a lady in Kenya A lady in Kenya wrote a program to start entrepreneur, to start to help young women start small business. And this young woman was the woman that, that was from one tribe in Kenya. They circumcise them like men in Kenya. Oprah donated $2 million. into that. She just saw it online and she found who is the person and donated $2 million. That's something that is so dear to her. Matter of fact, after her, so many people start blowing money on that person. So your business value, your business model can touch so many other wealthy people. And they will even pursue you to give you money because that's so dear, that's valuable to them. That's something they fight for already. Program to help people drug addicts, program for abused women, program for street kids, program to reduce the cost of something, business tool, it depends on what it is. You find so many people in the world that really want that, they value the same thing, and they'll be ready to give you whatever you need for you to make it happen. What does this mean to the person? What human needs does this align with the value of the person. When I moved to America and I was trying to change my status, I don't even know this, I went to file for asylum and I went to Catholic Social Service. So the Catholic Church paid for my lawyer, they paid all my fees, they paid for everything. Because I know they want to help people. It's dear to them. So a business person must be very, very wise. I mean, this was not even intentional. You have so many people who already have money to do what you try to do, so they can just give that money to you. They would rather give it to you, the money, and not even waiting for the money back. What are the questions we must answer? So I talk about personal values, belief, self-fulfillment, the human needs. Does this meet the investor need? Or not? So you must answer all this. Now, there's two type— there's multiple different type of money out there. There's a fund for so many business type of business that is called grant. That means you don't have to pay back. Most country have that fund. Matter of fact, the United States have a fund for small business in Africa. Every small business in Africa is qualified to apply for that fund. If you are one, you want to do business, you can apply for that fund and they give you up to $250,000. Matter of fact, a lot of people in Nigeria— Did you say you get these? A lot of people in Nigeria actually took that fund. Last— this year they already invest $117 million US. It's free money. You just fill out 2 pages paperwork. 2 pages. We'll put— we'll put a code key. Make sure we put the link in the School of 365. And tomorrow I will share the link also for everybody. You can apply. You don't have to pay a fee to apply. You just submit, that's it. They qualify you, send you the money. It's money for that. You don't have to pay back. Most type of business and service, there's already fund for it. So this particular fund is US I think it's the USAID, the United States Fund for African Development. There's also other programs that fund even in the millions if you create something You, you want to develop something that's going to create the job, there's a fund for that, there's a grant for that. So tomorrow we'll make sure we put most of the link with the deadline and then you can apply for most of those funds. There's also companies that offer grants. Here in the United States we have a Home Depot. that offer grant in a third world country, so they can give you that grant. Even Starbucks Coffee, they have different grants that they give, $10,000, $20,000. It's not much, but it's something that can help you to do your business plan and take off the business. It's free. You don't have to pay back. There's so— I mean, in almost every business, there's a grant out there for it. Every business. So many nations give grant today. For those that are in Cameroon and, and, um, I think Nigeria is participating on that also. There's a We Do, We Do. It's a program by German. They actually give €1,500 For startup, it's free money. No, not €1,500, it's €3,000 because it's 1.5 million CFA for startup. Free. Only thing you need to do is tell them what you want to do, they give you the money with the sponsor. You don't have to pay any fee, just show them the project. And then they give you the money. You can take that money, buy all the licenses you need, get your business plan, get the basic thing you need to take off. It's free money. So the grant actually exists out there, and you can use that as a program to raise capital. Okay, I think I should stop here for today, and tomorrow I will talk about the loan, um, and, uh, I will deal with the loan and the different application. So tomorrow we'll bring different websites that you can apply on it and show you so you can copy and save and copy and save and apply. Like I said, there's so much money out there Nobody should say, I don't have a business because I don't have money. No, there's so many, so many ways you can actually build that capital. I'm not even talking about different African companies because I know it takes forever. But most of these companies in the West End, you submit an application, they reply almost within 24 hours, and then they tell you what to do. You do it. They send you the money. Yeah. Okay, thank you so much. Tomorrow we will narrow down with the last part, but all this information is actually in the School of 365 business plan, the frame of business plan. You can use that to do multiple business plans, so it's like application. So I'll let you have it. You just enter your business name, enter how much you want to make, it's going to generate the rest. Enter the cost, it generates the whole business plan for you. So, uh, it's my first gift to you, Nigeria. You are such a great, great nation. So those that are already in the School of 365, make sure you download that. Do business plan. Don't keep any business in your head. No. Do it. Just go ahead and develop one. Develop one. Thank you so much, and tomorrow I'll see you tomorrow. Make sure you bring your friend. There's 220— 180 million people in Nigeria, so