Doing Business Podcast Ep 2

An episode of the Doing Business podcast, hosted by FairMoney, titled "Doing Business Podcast Ep 2" was published on July 28, 2023 and runs 49 minutes.

July 28, 2023 ·49m · Doing Business

0:00 / 0:00

Summary

In this episode, our CEO and co-founder Laurin Nabuko Hainy sat down with Gym buff and businessman Lanre Rasak, CEO of IAmFit. They deconstruct what it takes to get into the fitness world from the eyes of a business owner, how to carve a niche and overcome the unique challenges that come with the Nigerian market. Here are some of the lessons learned 31:20 - Lesson 1: Incorporate a revenue collection model that works for your business33:00 - Lesson 2: Minimize customer churn by frequent engagement and check-ins to establish a deeper connection and Top-of-mind for your business34:59 - Lesson 3: Be a valuable partner to your customers, be invested in their growth and they will reward you with patronage, loyalty, and referrals38:49 - Lesson 4: Empower your clients with information to enable them understand and appreciate your value and expertise.39:49 - Lesson 5: Understand your operating environment and key challenges that affect your business. For example, Power/Electricity, sourcing, importing, and maintenance of gym equipment.44:29 - Lesson 6: Do not neglect the importance of planning when you are starting out, or in the course of running your business46:04 - Lesson 7: Empower your workforce to do their jobs better by training them46:50 - Lesson 8: As a business owner, it is important to improve yourself by learning from your peers, community, mentors, and through formal learning opportunities

Episode Description

In this episode, our CEO and co-founder Laurin Nabuko Hainy sat down with Gym buff and businessman Lanre Rasak, CEO of IAmFit.

They deconstruct what it takes to get into the fitness world from the eyes of a business owner, how to carve a niche and overcome the unique challenges that come with the Nigerian market.

Here are some of the lessons learned

31:20 - Lesson 1: Incorporate a revenue collection model that works for your business
33:00 - Lesson 2: Minimize customer churn by frequent engagement and check-ins to establish a deeper connection and Top-of-mind for your business
34:59 - Lesson 3: Be a valuable partner to your customers, be invested in their growth and they will reward you with patronage, loyalty, and referrals
38:49 - Lesson 4: Empower your clients with information to enable them understand and appreciate your value and expertise.
39:49 - Lesson 5: Understand your operating environment and key challenges that affect your business. For example, Power/Electricity, sourcing, importing, and maintenance of gym equipment.
44:29 - Lesson 6: Do not neglect the importance of planning when you are starting out, or in the course of running your business
46:04 - Lesson 7: Empower your workforce to do their jobs better by training them
46:50 - Lesson 8: As a business owner, it is important to improve yourself by learning from your peers, community, mentors, and through formal learning opportunities