LET US MAKE REAL GOOD MONEY TRADING GARRI
I have never despised the day of little beginning. The business that gave me the biggest financial breakthrough of my life was an idea I stumbled upon in a hotel bar. The guy that mooted the idea was very haughty but empty in terms of finishing and ideas. I picked the idea but nearly discarded it for its ordinariness and pedestrian appearance but for the timely advice of my friend and brother, Enerenwa Kingsley Ihechi.
Since then, plucking low hanging fruits has been my business model and business philosophy. It hasn’t failed me, and from the look of things, it will not fail me.
What is plucking low hanging fruits as a business model?
Practically speaking, I normally look out for those businesses and areas that many others look down upon as not befitting enough for them. I normally look out for those businesses whose per unit return is too meager but affordable by the poorest of the poor. I always go for those businesses that are not only in daily need but necessary yet affordable.
To understand the practical utilitarian value of low hanging fruits business model, permit me to use a juxtaposition of two successful business moguls as practical examples Cosmos Maduka of Coscharis Motors and Dangote of Dangote Groups as typical examples. Choscharis Motors is sole representative of BMW cars in the whole of Nigeria, and possibly West Africa. In contrast, Alhaji Dangote manufactures and markets mainly daily food items such as noddles and indomi noodles.
Cosmos Maduka of Coscharis Motors markets his BMW cars at more than ten million Naira per car. Very good some of money right? In the other hand, Dangote markets his indomie noddles at one hundred naira per unit. No Nigerian can buy more than one BMW car daily while more than hundred million Nigerians buy two pieces of noddles every day.
Let’s take it that Cosmos Maduka makes two million naira profit from every car he markets while Dangote takes in a paltry sum of ten naira from each noddle he markets. In an impoverished economy of two hundred million Nigerians, Cosmos Maduka of Coscharis Motors cannot possibly sell more than five hundred BMW cars at the profit value of two million naira in a day while Dangote sells at least hundred million units of indomie per day at the profit value of ten naira per unit.
Again, no sane Nigerian buys more than a unit of BMW car in a day but every Nigerian eats food every day. In other words, while no sane Nigerian buys a BMW car everyday but more than hundred million Nigerians buy indomie daily.
If Mr. Cosmos Maduka markets two million pieces of BMW cars daily at the profit value of two million naira per unit, he would be raking in about one billion naira daily. In the same vain, Dangote that markets his indomie to an average of one hundred million Nigerians daily at the profit of ten naira rakes in the same one billion naira daily. But you know what, his product is a daily necessity but Cosmos Maduka’s BMW car is a once-in-two-year thing.
Irrespective of the much touted government-backed Dangote support system, can we now see how and why Dangote is far richer than Cosmos Maduka?
Now listen, I want you and I to rake in millions from garri business. Let us make this happen. Indicate your interest by commenting on this post. Ideas rule the world. And nothing gets done until and unless somebody gets it done. Moreover, nothing gets done unless somebody does it. Once again, everything big big started small.