Download Small Business Big Money By Akin Alabi

Small Business Big Money

Download Small Business Big Money PDF Book By Akin Alabi – From the book Small Business Big Money : Give Me Just 3 Hours And I Will Show You How To Start, Grow And Turn Your Small Business Into Your Personal ATM That Will Give You Money On A Daily Basis!

Small Business Big Money PDF Download

Are you planning to start a business? Do you have a small business but you are not making enough money to cover your bills and live the kind of life you want? If you answered YES to any of those questions, this is the most important book you will ever read.

Recommended: Make today count by John C Maxwell

Here’s why; In this book, I shared the exact business and marketing techniques I used in starting my business from scratch and turning it into an empire that it has become today. You will discover valuable lessons like…

Small Business Big Money Features

1. How to decide on the kind of business you should do

2. Why it can be a bad idea to sell what people NEED to buy

3. 7 commandments you must follow before you spend any money on advertising

4. How to get others to promote your business for you for FREE

5 How to price your products and services for maximum profitability

6. 10 factors you should consider before you quit your job to start a business

7.The full story of how I started NairaBET.com And lots more.

Read this book (Small Business Big Money), apply the lessons in it and watch your business transform into a cash minting venture.

Disclaimer – Small Business Big Money

I am not a lawyer. This book and the contents provided herein are simply for education, general information and entertainment purposes only. They do not (and should not) take the place of legal advice from your lawyer. It is sold with the understanding that the publisher is not engaged in rendering legal, accounting or other professional service. Every effort has been made to ensure that the content provided in this book is accurate and helpful for our readers at publishing time. However, this is not an exhaustive treatment of the subjects. The author has made every effort to ensure the accuracy of the information within the book was correct at the time of publication. While we try to keep the information up-to-date and correct, there are no representations or warranties, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the information, products or services contained in this book for any purpose. Any and all references to persons or businesses, whether living or dead, existing or defunct, is purely coincidental.

Any use of this information is at your own risk. The author does not assume and hereby disclaims any liability to any part of the loss, damage or disruption caused by errors or omissions, due to the information provided, whether such errors or omissions result from accident, negligence or other causes. No guarantees of income or profits are intended by this book. Many variables affect each individual’s results. Your results will vary from the examples given. Akin Alabi Foundation, Get Altitude Nigeria Limited and AkinAlabiTeaching.com cannot and will not promise you personal success. Akin Alabi Foundation, G e t A l t i t u d e N i g e r i a L i m i t e d a n d AkinAlabiTeaching.com has no control over what you may do or not do with this book and therefore cannot accept the responsibility for the results. You are the only one who can initiate the action, in order to reap your own rewards. If you wish to apply ideas contained in this book, you are taking full responsibility for your choices, actions and results. If legal advice or other expert assistance is required, the services of a competent professional person should be sought

Summary of Small Business Big Money PDF

Small Business Big Money by Kin Alabi avoids the tired motivational platitudes about how you need to believe in yourself to succeed in business.

The book reveals the harsh realities of the Nigerian market and what small and large enterprises alike must do to succeed. The themes in this book are incredibly relevant thanks to Alabi’s straightforward writing style. Plus, there’s more. His conversational tone makes reading feel more like a conversation than a lecture. Alabi sabi means “the road” in basic colloquial terms. The book’s seven chapters take you through a mentality surgery that will ensure your business’s success.

Before I get into too much detail, here are six key takeaways from this fantastic book.

  1. Be a man! Entrepreneurship is not for the faint of heart.
    First and foremost, the book takes aim at long-held illusions about entrepreneurs and business in general. We’re nearly intrigued by the bits and pieces of motivating crumbs placed throughout successful businessmen and women’s messages when they tell their story. Although this is admirable, business success takes more than motivation. Alabi pens…

Nothing is more frustrating than establishing a business and having no customers. Nothing beats putting all you’ve got into a business and working for years to establish it only to see it fail. There’s nothing interesting about not knowing how you’ll pay the salaries of the people you virtually begged to work for you and accept your below-minimum wage offer.

ALABI, AKIN
To succeed as an entrepreneur, you must have a compelling WHY. Otherwise, you’ll give up at the first hint of hardship. You can’t avoid having a boss just because you’re an entrepreneur. A. Boss. Will. Always. Be. With. You. Do you have any reservations?

Let’s have a look at the facts.

Do you have any investors? Do you work in an industry that is governed by the government? Do you have to pay taxes? You are not yet your own boss if you answered yes to at least two of these questions. The notion of being your own boss or working when you choose does not hold water in this environment. Entrepreneurs put in even more effort than the regular worker.

That said, if your motivation for launching a business is to address a significant need for a starving population while also creating actual value, you’ve taken the first step on your entrepreneurial path. This brings us to the age-old debate of whether to sell needs or wants.

  1. Market what people desire, not what they require.
    The book’s second chapter struck a serious blow to the commercial philosophy of developing a product before establishing a market. Alabi pens…

Don’t start a business or a product and then look for customers…

Instead, find out what people want and then build a business around it…

Only after I’ve seen a market that wants to purchase do I decide what to sell. Rather to creating a product and searching for clients, I first identify a market and then produce a product or service for that market. Don’t even consider products. Consider the market.

ALABI, AKIN
The author’s encouragement to offer what people WANT to purchase, not necessarily what they NEED to buy, is perhaps the most unorthodox premise in this book.

He imagines a mobile bookseller with two new titles in stock: How to Easily Pass WAEC and JAMB and How to Inexpensively Relocate to Canada. Assume that the bookstore wishes to sell the books to a group of high school graduates. Isn’t it true that most parents want their children to pass WAEC and JAMB and go directly to university?

Consider polling 100 teens who have recently graduated from high school and asking them which option they prefer. To pass JAMB and enroll in a university or to travel internationally? There’s a good chance that 90% of them will opt for international travel. Why?

That is exactly what they desire!

When it comes to desires, people do not make purchasing decisions based on logic. We buy based on our emotions. That explains why sports publications sell more quickly than business publications.

  1. Become the market leader in your niche.
    The author exposes readers to the Evoked Set, as described by Philip Kotler. It means being one of the first persons who comes to mind when your field is mentioned. We can’t talk about online selling without mentioning Amazon, for example. Thousands of companies operate in the internet commerce market, but Amazon and Alibaba are two that always come to mind.

They’ve risen to the top of the evoked set, which refers to what people think about when the industry is discussed.

One approach to be number one in your sector is to be number one. Be the first in your industry. Being first for the rest of your life earns you the title of pioneer. Being the best is a matter of opinion, but being the first is unquestionable. People instinctively perceive others as clones of you because of your pioneer status.

Unfortunately, only a few people can hold this post. There’s no way to claim first if you’re fresh to the online retail market. That was long ago taken from you by the bog lads. However, you can set yourself apart by becoming the first in your field.

Make your company stand out by adding a novel feature or developing a business model that challenges the status quo. If you run a pharmacy, make your services available 24 hours a day, seven days a week. As a result, you’ll stand out as the “only” pharmacy operating 24 hours a day, seven days a week.

Disrupting the industry is another approach to be number one. Uber isn’t the world’s first cab service. They just launched a new business model that threw the status quo into disarray.

  1. Advertisement is not done for the same reasons by all businesses.
    When you provide value, the next step is to let the rest of the world know about it, right? There are numerous strategies to publicize your company. It isn’t, however, a random selection. Businesses do not promote for the same reasons that individuals do.

Coca-Cola does not market for the same reasons that a local fruit juice company does. While Coca-Cola advertises for brand awareness and mindshare, a small firm must focus on direct sales, prospects, and contacts. The outcomes aren’t the same.

The majority of small businesses promote due of the following reasons:

Everyone promotes themselves.
Competitors are running advertisements.
To be at ease in their own skin.
Alabi then goes on to discuss the SEVEN ADVERTISING COMMANDMENTS.

You must grab the reader’s attention with a compelling title (for print) and a compelling statement (for radio).
You must make an offer: you cannot talk about your business while leaving the lines open, assuming that your audience would figure it out on their own. No, they must be enticed with a proposition.
You must make a call to action (CTA): even if your offer piques your audience’s interest, you must still ask them to take action.
You must instill a feeling of urgency: most people delay, thus your advertisement must instill a sense of urgency, whether through a deadline, a limited number of slots, or any other means that makes your offer appear limited.
You must track and test the effects of each advertising campaign you use. That’s why businesses often inquire, “How did you hear about us?” Feedback can save your life.
You must build credibility by using testimonials, expert advice, or survey statistics to establish a level of trust with your prospects.
You must remove the risk from the prospective customer: offer a money-back guarantee, a product change guarantee, or a service guarantee to persuade prospects that you will bear the risk.
Remember, before you choose the media to advertise on, you must be clear on the message you want to convey.

  1. Encourage others to talk about your company.
    People don’t trust what corporations say about themselves, despite the fact that advertising is fantastic. What corporation, by the way, criticizes its own products or services? When people talk positively about you, your business grows faster; recommendations.

Your firm must give Super Customer Service to generate this Word of Mouth (WoM) marketing. As Dan Kennedy puts it:

Because they die, 1% of your clients quit buying from you. 3% Move away: alter your location. A competitor attracts 14% of people. Product dissatisfaction turns away 14% of customers. Because of disinterest and poor attitude/customer service, 68 percent of employees depart.

KENNEDY, DAN
Maintain contact with customers even after they have purchased from you in order to provide excellent service. Reward them, use influencers and opinion leaders, provide excellent product and service delivery, provide referral incentives, and maintain a strong internet presence.

  1. Customers aren’t shopping for the cheapest deal.

For any tiny business, the price war is a death trap. Only engage in the pricing war if you have the financial means to do so. Why? People aren’t always looking for the cheapest deals.

If you look at the pricing of the gadget you’re reading this on, you’ll see that it’s not the cheapest in its category. The same may be said for any item you consider valuable. You were motivated by value rather than price at the time of purchase. When making large purchases, this is true for everyone.

People are on the lookout for bargains. The prices are not the cheapest. Prices are only viewed in relative terms, not in absolute terms. Customers will not buy from you if they do not believe they are receiving the greatest deal (in terms of value against price) even if your product or service is the lowest in its category. It’s now acceptable for the best bargain to also be the cheapest. They are not, however, the same.

Rather of lowering prices to the point of danger, start thinking about how to increase perceived value in your customers’ thoughts. This can be accomplished in a variety of ways, including:

Make your goods accessible (not cheap): peak milk is an example. If 850 grams of powdered milk costs N2,080 (Nigerian Naira), a 20 gram sachet costs N60 (Nigerian Naira) (Nigerian Naira).

N60 is unquestionably less than N2,080.00. But, according to the arithmetic, you’ll need 42.5 sachets to reach 850 grams, correct? We get N2,550.00 by multiplying 42.5 sachets by N60. To put it another way, the little sachets are more pricey, but still within reach.

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Extra perks and bonuses are another approach to increase perceived value. If the average cost per night for hotel rooms in your city is N35,000 (Nigerian Naira), and you boost yours to N45,000 per night with incentives like free chauffeur services to the airport on check out, free massage services, or a free meal the night before check out, you’ve made a profit.

More sales will result as a result of the bonuses, as the price becomes immaterial when people see them.

Akin Alabi concludes his book with a few useful tidbits for business owners:

Begin now, and begin small.
Never consume your first harvest; instead, plough it back.
Don’t start a new business just yet.
Make the switch to digital!
Learn how to keep what you’ve created.
Customers should never be turned away from your business: Businesses, not people, can take a break.
Small Enterprises Big Money is a must-read for everybody who makes, spends, or invests money, not just business people.


Content – Small Business Big Money PDF

Praise Report……………………………………………………………………………….i
Disclaimer…………………………………………………………………………………xii
Contents…………………………………………………………………………………..xi v
Foreword…………………………………………………………………………………..xv
Introduction……………………………………………………………………………xxiii
CHAPTER ONE
Before You Quit Your Job To Start A Business…………………..29
CHAPTER TWO
How To Decide On The Kind Of Business You Should
Do……………………………………………………………………………..47
CHAPTER THREE
How To Become Number One In Your Marketplace…………79
CHAPTER FOUR
How To Advertise For Maximum Profitability………………….97
CHAPTER FIVE
Word of Mouth Marketing: How To Get Others to Talk About
Your Business…………………………………………………………….141
CHAPTER SIX
How To Price Your Products And Services For Maximum
Profitability………………………………………………………………..165
CHAPTER SEVEN
What’s Next?……………………………………………………………..191
RECOMMENDATIONS……………………………………………221

Foreword

My first encounter with Akin Alabi was in Man airport terminal. If my memory serves me right, it was the Upper Class check in desk at Virgin Terminal 3 at London Heathrow. As usual, I was staring intently at my phone. Mrs Njoku was nearby and I was being a dutiful husband and making sure all was well. I don’t really do chit chat at the airport or whilst in transit. Instead, I prefer to plough through Slack / email / Whatsapp messages. Once in a while, I’ll bump into some regular faces on the LOS-LHR route, we briefly exchange niceties, and then resolutely return our attentions back to our phone or pressing business matters. (Small Business Big Money free ebook download)

On this day, in the Terminal, I was approached by Akin Alabi. I’d never met him, just heard about him. I was aware of his company and his signs which were dotted all around Lagos. Like you hear about so many Nigerian business people. I’m generally a glass-halfempty kind of guy, so very few people I read about impress me on paper. SMALL BUSINESS BIG MONEY I’m skeptical about what the press writes about people. Almost always, it’s just fluff and hype. But people in my wider circles, who knew Akin, rated him – they spoke highly of him. So I was happy to pull myself away from my emails for him. And what followed next shocked me. He asked me my opinion on a number of capital raising, financing and deal structuring issues. See, Akin was self funded, self made – an unfiltered entrepreneur. Akin Alabi, of NairaBET fame, who has proved himself time and again in the Nigerian technology and business space, was asking my opinion, and eagerly listening to my input – I could see him mentally taking notes. It was a humbling experience, for me. All that I had heard and read about him, was actually true. He was inquisitive, sharp and a master at understanding and figuring out ‘Nigeria’ – the market, the trends, the hyper-idiosyncratic nature of Nigerians. He just ‘got it’. This, I gleaned from only the briefest of exchanges. After this encounter, I remarked at the time, to Mrs Njoku, that Akin Alabi was like a walking encyclopedia for doing business in Nigeria. That was a flyaway comment which has now, funnily enough, been brought to life, as he has distilled his vast SMALL BUSINESS BIG MONEY knowledge into this striking new book, Small Business Big Money. (Small Business Big Money free ebook download)

As anyone who knows me will tell you, I read a lot of business books, from some of the world’s most well-respected entrepreneurs – Branson, Buffet, Bloomberg, Bezos, Gates etc. I’ve gobbled up all that they have proffered. Their experiences have helped me define and sculpt many of my thoughts and strategies. Yet their experiences don’t, and will never, really truly be able to reflect my personal journey through business, as they don’t operate in Nigeria, or indeed an emerging market. And this is where the importance of Small Business Big Money is evident. This is a critical tool for actually getting down and doing business in Nigeria, with Nigerians, in a hostile, unforgiving emerging market. Akin has documented and analyzed issues and challenges that the likes of Branson and Buffet have never really had to overcome. Akin, over the years, has given his time to teach me one-on-one about the realities of building in Nigeria. I have taken my product teams on pilgrimages at his offices, where he has shared their important lessons with our team. He has made available his team to SMALL BUSINESS BIG MONEY XVII connect and share knowledge with no obvious gain to himself. My personal experience is that in Nigeria, people don’t really share knowledge. Not in the business world. Not unless they want something in return. Business hacks, data, the processes around deal-making, scaling businesses – the details are almost always shrouded in secrecy. This is a shame, as it means those starting out have very few genuine points of references from which to learn. Small Business Big Money lays bare the brutalities of conducting business in Nigeria. (Small Business Big Money free ebook download)

The book delivers, not only in terms of real-life, personal anecdotes and scenarios, but also hard facts and numbers around some of the deals he himself has carried out in his many years in business. Akin Alabi exposes challenges and fights back, head-on, with solutions and guidance on how to function and operate in our market. The life of an entrepreneur is hard. In Nigeria? It is harder. His thoughts on why people start businesses are a poignant and stark reminder to us all as to why we must fully understand the difference between perception versus reality. Perception – starting your XVIII SMALL BUSINESS BIG MONEY own company means you can be your own boss. Akin Alabi’s version of reality is that you take on investors, and you have a boardroom of bosses. (Small Business Big Money free ebook download)

The tax man is your boss. The regulators are your boss. In reading this book, I showed a line in particular to Mrs. Njoku, “If someone invests in your business, when he calls, you pick up. If you miss the call, it will be the one you will return first, probably before that of your wife”. Mrs Njoku said nothing but just gave me that knowing wry smile. She knows this to be the truth. At every stage of his analysis, Akin demonstrates again and again that he just ‘gets it. Small Business Big Money wastes no time on niceties and doesn’t waste paper with meaningless platitudes about how believing in yourself is enough to succeed in business. It isn’t. Akin Alabi’s call to arms is “You should stand apart”, and considering the copycat nature of so many millions of Nigerians and, subsequently, Nigerian businesses, it is critical that successful, battle-hardened entrepreneurs such as Alabi articulate this. No, shout it. Because, again, it’s the truth. We need more people like Akin Alabi telling us the truths about the market and about how we approach business, and then we must listen, intently, to how he will help us through the mire. He knows, SMALL BUSINESS BIG MONEY XIX he’s been through it on countless occasions. And he has come to this ‘truth’ due to years of working on and figuring out the complexities of Nigeria’s consumer space. He’s not trying to change ‘the market’, he’s simply supplying it. He’s building for it. NairaBET was built for ‘the market’. He observed he listened, he delivered, he moved with lightning speed to build a platform that allowed for online betting in Nigeria. (Small Business Big Money free ebook download)

He doubled down on great customer service and a product that spread through word of mouth, coupled with an acute understanding of how to market his product. He’s winning, even as new entrants try and flood the market that he single handedly nurtured. But his business nous and ability to work in cohesion with the market means that Alabi will thrive as new competition bears down on him, and he will be able to pick off and outlive the pretenders. But you see, here, I have fallen into the trap of over simplifying Akin Alabi’s journey. I’ve neglected to include the deals, the 90+ hour weeks, the financial uncertainties, the risks and the many absences at family parties/gatherings/events because he was tied to his laptop building his company. The reality of SMALL BUSINESS BIG MONEY building a business empire? In Akin’s own words, it sucks. But that doesn’t mean we shouldn’t start out on that journey. But when we do, we must challenge our own motives for why we want to start a business. We must build for customers, not solely for investors. (Small Business Big Money free ebook download)

We must start now, not in an hour’s time. And, certainly for Nigerians, we must read Small Business Big Money before we take one more step into the murky world of entrepreneurship. Akin Alabi tells us that he’s a ‘nice guy’. I concur. Me, as an entrepreneur, and my businesses in Nigeria, are all the better for being beneficiaries of his wisdom and knowledge. What makes Akin so impressive is that he extends this courtesy of sharing his wisdom to thousands of others as well, via his philanthropic work with events such as his annual Youth Enterprise Conference – a free event for young people to come and interact with and learn from seasoned professionals. The thousands of attendees, like I, are indebted to him for allowing us into his world. As any entrepreneur knows, time is our most revered asset. Time and again, Akin has donated his time, to me, to ensure I think more critically about how I build SMALL BUSINESS BIG MONEY my own business; how I love, listen to and build for ‘the market’ in which I operate, and how I continue to make an impact. His persistence with me, and his insight has always, and will continue to be greatly appreciated. For those who have not yet been fortunate enough to cross paths with such a maven, they will do well to use Small Business Big Money as their business Bible. It’s a seminal piece of work for our Nigerian business ecosystem. Jason Njoku, Founder, iRokoTV, Rok on DSTV and Rok on Sky

See you at the bank.


About the author

Akin Alabi started his business career in 2003 writing and selling books, manuals and other information products. He proceeded to launching his own seminar and training company specializing in teaching and consulting for other young people starting their own small businesses.

He also started publishing a business opportunity newspaper titled INCOME (now rested). To add to his publishing enterprise, Akin launched, World Soccer News, a weekly sports newspaper.

Akin has gone on to build many other businesses from scratch; one of them being NairaBET, Nigeria’s first online sports betting portal, with outlets across Nigeria. He got the idea for NairaBET when he visited the United Kingdom and went to a sports betting shop. He created an information manual about it and sold online.

 

The success of the product prompted him to start his own online sports betting platform in Nigeria.  Nairabet.com has its headquarters in Lagos with its nationwide operation regulated by the National Lottery Regulatory Commission. NairaBET is Nigeria’s first sports betting company.

Akin Alabi is involved in the Nigerian entertainment industry. He is the founder of Nightlife.NG, an online portal that showcases and reports the nightlife industry in Nigeria


Originally published30 September 2017

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