The video provides actionable advice on evaluating business viability, presented in a clear, numbered list format. The creator's direct and confident delivery, combined with practical examples, makes the information relatable and trustworthy, encouraging viewers to seek more knowledge through their bio.
Summary
The creator outlines five key factors to consider before investing in a business: demand, numbers (profitability and cost reduction), distribution channels, repeat purchase potential, and the operational capabilities of the team. They emphasize the importance of having concrete data and a clear plan for each factor, suggesting that a business meeting at least three of these criteria is more likely to attract investment.
Structure
1Introduce 5 key business success factors
2Explain demand and the need for proof of purchase
3Discuss the importance of numbers, profitability, and cost reduction
4Highlight distribution strategy and network
5Emphasize repeat purchases and referral potential
6Stress the importance of the team's operational background and long-term vision
Original caption
Every business owner should know these 5 things before starting or investing in any business: They are the signs that show whether a business is worth your money, time, and energy. #BusinessOwner #BusinessTips #ezechinonso
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Call to action
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On-screen text
Eze
Chinonso
BUSINESS TIPS
Transcript
If you bring a business deal to me today and I want to know if this business has a real chance at succeeding, I will check... Here are five things I will check. I don't even need the five to be correct. If three out of that five that is correct, I will give you my money. And for those of you that want to learn about business, check my bio to get started. The first thing that I will check is is there demand? I'm not talking about that one you come and tell me that we have over 5 million people suffering from this. Have you sold the product to somebody or have you sold the idea to somebody? Or has people created willingness to pay? I want to see that data. I want to see that data. So instead of you telling me, oh, we have over 5 million people that need this product, I want to hear I spoke to 20 people about it and they paid this amount of money for it. Do you understand? That is what I want to see. Number two, I look at the numbers. I mean, I'm a mathematician by, you know, going to school. And I will look at your numbers. If we buy from suppliers, we pay rent, we pay delivery, we pay everything. How much will be left? It needs to make sense. It's not if I'm putting 10,000 and the cost of the goods is 9,000 and I'm making 200. It doesn't make any sense to me. Do you understand? But if I'm putting 200 and the cost is 150 and I make 150 for every 200, it makes sense to me. So I need to be looking at that cost. And I need to understand how you are going to reduce cost, not just at the starting, but over time. Number three, distribution. Are you going to sell the product? Most people will come, oh, I have this idea, I have this thing, and I have this one. But you don't have the network to sell the product, right? But if you come to me and say, oh, I have this product, I have this cost, and this is how I'm going to distribute it because I have over 500 people in my community that needs this kind of product or I have this community that can help distribute this product or I understand how to run ads and target these people. So all those kind of things, that's what I want to see. Not just on paper, but in details. Number four, repeat purchase. Is your product that people can buy and buy again? Or is it something that people cannot buy again? Do you understand? So if I'm going to invest in a business, that business must be something that people can buy at least three or four times or five times. And it's a product that can be easily referred to other people. Do you get? So in case we want to start an referral program, it's something that people can refer. Number five, who is operating it? Who is going to run it? Is it you or your co-founder? I need to look at your background. Do you guys have what it takes to run that business? All right? Let's say it's an operations business. Let's say you want to go into cake. Can you make cake? Is it sweet at all? Or let's say you are a tailor and you want to start sewing and there's something creative you want to bring into the industry. The person you are going to employ, can he sew? How long will he stay with you? So that we can know that okay, for three years or four years, we'll be making X amount of money and be putting people under him so that he can train just in case he leaves. So I need to see that kind of thinking in terms of how operations will be run in your business. Now, if you pass any three of these things, I have a high probability that I will invest in it. Because I also need to talk to my lawyer, you know, it's very important. But if you don't meet up to three, let's say you have two or one, you don't have something concrete for me. This is from me. And that's what I even tell people who want to go into businesses to look out for. Now, if you want to learn more about business and how business works and how to grow and scale businesses, make sure you check my bio. Okay. See you on the next one.
