Episode 46 Transcript

Welcome to Episode 46 of the Business in
Morocco Podcast, in this episode we're
going to be doing a review of 2019
talking about some of our business goals
and also this podcast talking about
where things are at a little bit of a
State of the Union address related to
the business of Morocco podcast before
we get into that topic as always we'll
start with an update so Ryan, Merry
Christmas my friend, Merry Christmas it
is a holy week for Christians around the
world NOEL the week the birth of
Jesus and also the last week of the year
we thought it would be appropriate to
discuss 2019 and how it went and reflect
a little bit on it I'll be doing that
this week I'm not really working that
much because it is a holiday week my
kids are off from school but I am
pursuing this new business relationship
I have to help a retailer sell some of
their overstocked items meaning the
items that they've tried to sell in
stores and supermarkets that did not
sell but are just sitting in a warehouse
gathering dust and I suggested to them
they try and sell them on the internet
they liked the idea and now given my
experience working with Amazon ecommerce
in the past and logistics we're gonna
create their entire process from scratch
and start selling these overstocked items
on the internet through a virtual store
wow that's cool have you decided which
platforms you're gonna try to sell it on
you're gonna create your own or sell
through an existing one so we're gonna
start with Jumia.ma yeah ma we're gonna
build an online store and I think that's
the easiest way to do it because all
they have to do is receive the orders
package them and then deliver them to
Jumia.ma who will put the delivery sticker
on the package tape it up wrap it up and
the final mile delivery and receive the
payment. given all that they do the
website and the logistics and the
payment they take a very low commission
on average is 10% or less yeah so if you
want to test selling products online I
think it's a great way to do it it's
free to set up an account it's a good
idea to take some of their classes
they're free classes that they offer how
to be a seller on Jumia.ma
that'll be one of my projects in the new
year are those classes available in
English as well did you take them in
French no they're only available in Darija
and French okay yeah I think you're
right it even if you're a larger company
and you've got a lot of volume of
products that you could potentially sell
if you haven't set up the logistics and
the platform it's a great place to just
test will our product sell on the
Internet
learn from Jumia and then if you've got
the capacity you can duplicate the
process yourself and take out the
middleman for my point of view there's
really no reason to start your own
e-commerce vertical supply chain the
cost of warehousing and running your
your internet platform handling payments
handling customer service handling
returns damaged products lost products
managing all of that yeah I honestly
don't think that Jumia is covering their
costs when it comes to their commission
structure I think they might just try
and be trying to operate and hoping one
day they're bought out by Amazon yeah
well there's lots of people who think
that and when they listed on the New
York Stock Exchange there's a few of
YouTube videos you can watch that they
kind of have like a bit of a conspiracy
theory type feel to them you know
interviewing former employees with their
faces blacked out and things like that
but legitimate concerns about whether
they're actually making any money or
just sinking money into a black hole
waiting until somebody targets the
west-african market,
and they can cash out right and you know
what in the last ten years that's been a
reasonable business model yeah that's
true you start a business you make no
money you use venture capital and
investor money to build up a platform or
a network a two-sided network whether
it's Uber or Airbnb or some of these
other platforms that are two-sided you
just wait to get acquired yeah well I
mean look at Glovo we could have a pizza
delivered to the office while we're
talking here and how much money does
Glovo get from that interaction I mean
it's hard to imagine that they're making
money paying an employee covering the
cost of someone's moto all the logistics
the application itself I don't know I
don't know that they're, it worked for Careem
right, I think it was questionable and
whether or not Careem was making any
money in some of the markets maybe there
were certain markets that were
profitable but certainly not all of them
but they positioned themselves well and
they got bought out and all those
investors and the founders of Careem are
very rich today that's right
3.1 billion goes a long way what about
you what are you doing this week well
the same as you I'm celebrating
Christmas so kids are off school it's a
slow week related to work I've purposely
carved out some some time it's been a
really busy month and finish to the
year I work in personal development and
training industry and so this is when a
lot of companies are trying to spend
their training budgets they were allotted
some cash at the beginning of the year
they've all been so busy just doing work
and not really investing in themselves
and then they realize oh crap this money
has been allotted we need to spend it or
we're not going to have any budget for
it next year so everybody's schedules
trainings in this month it's always our
most profitable quarter so that's great
I'm happy to have that but I'm ready for
a nice rest and it's been good to just
have some days to stay home with the
kids and open presents celebrate
Christmas you know take some relaxing
days doing puzzles and all that but it's
also a great time to reflect on
the highs and lows of the past year and
gear up for the new year I've always
been really motivated by a new year and
I've done a few of these before
you know I'm 40 years old so this isn't
my first lap around the Sun so I know
that motivation is high and it doesn't
last but I love to capture to channel
that motivation into creating good
habits and I am motivated by goals and
really having a vision for what I want
my year to accomplish so this is a
really strategic time to spend
reflecting planning if there's one thing
that I want to communicate to our
listeners about 2019 is that we all have
goals and aspirations and hopes and
predictions when a new year starts but
then we go and live life and things
change and it's not the end of the world
if you don't meet a goal or if you
change your mind halfway through but it
is good to have a plan and to try to
take material steps to achieve goals but
for me personally
starting 2019 I had certain aspirations
that when I look back on it now we're
completely unrealistic but I'm okay with
that I'm okay with shooting high and
then making the best decisions that I
can make on a daily basis while keeping
the the long-term goal in mind for
example when the year started I had no
intention of getting an office or
spending any time looking for an office
or really committing to that but as I
mentioned in episode 28 when we made
some goals and predictions for the last
third of the year it was the number one
thing on my my list and here we are
sitting in the office that's right check
that box yeah
achieve that goal the other one that
I've been working on since March or
April timeframe that I also mentioned
in episode
28 was securing this deal with duty-free
to sell products out of their store
mission accomplished
checked that box but even more
importantly I've now created a
relationship with these two entities the
the middleman the distributor of the
products the exporter and the the
retailer duty-free which will be a
future source of business for me whether
with paintings or some other kind of
product or service so that is a new
development that came out of a goal that
wasn't necessarily planned yeah so if
I'm going to communicate something to
our listeners keep your eyes open when
you're pursuing your goals and be ready
to take advantage of things that come
into view because it's impossible to
know every opportunity that's going to
come down the road when you're going
through life you just have to be ready
to take advantage of them yeah what is
the definition of luck when preparation
meets opportunity
oh I hadn't heard that yeah I think of
someone coined the idea Hallway theory
where you imagine yourself in some sort
of situation with a long hallway with a
whole bunch of doors on either side you
know you picture a hotel or a university
and you can't see what's in the
different rooms but you've got to move
forward so you can see what's at the end
of the hall you might be pursuing that
you've got a vision for where you want
to go but then as you're walking down
you see on your right or on your left
this incredible opportunity and it draws
you in it's not necessarily a
distraction you have to watch for those
things that can divert you from the best
thing which is the goal you're pursuing
but it's something you couldn't have
seen at the beginning but now you
recognize it as a really valuable
opportunity and so you run with it did
that happen to you this year definitely
when I think about one year ago so end
of December it wasn't really on my radar
to be doing team buildings that wasn't
something I did at all in 2018
I was doing personal development and
trainings but not team buildings that's
got a very different format I wasn't
travelling going to these different
hotels and venues doing lots of
activities and games and having a lot of
fun and Trust building things as well as
the development or the training side of
things but I landed this contract and
it's proved to be something I've really
enjoyed and has been fruitful I've met
found a niche there where there's these
multinational companies they want to do
team buildings they want it to be done
in English they need somebody who can
travel mix up activities and training
and I've found a profitable opportunity
that wasn't on the radar at the start of
the year but I'm really glad I
discovered it are you doing that on your
own or through Franklin Covey I'm doing
that on my own yeah it's right through
my personal company yeah I've been
trying to expand that land contracts
with some others but that's been slow so
but I'm hoping that as I continue to
build my experience and reputation put
out content I've made a team building
video this year I've shared different
quotes and pictures about team building
on LinkedIn so more and more people are
associating me with someone who does
team building and so that's people have
contacted me I have put in some bids
just haven't landed yet. so today's
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now back to the show what about the
goals and predictions and aspirations
that you mentioned in episode 28 what is
the status of some of those yeah so that
was back in September we had one third
of the year left for any listener that
hasn't listened to that episode we kind
of looked at what's coming up in the
next four months and what we hope to
accomplish before the end of the year
one of the things that was a success for
me was doing some workshops so this was
something I've been thinking about for a
long time but just hadn't pulled the
trigger I can remember last spring going
and scouting out a friend's office
conference room to see if that would be
a good place to host it but then I
traveled in the summer and just
procrastinated and never really made it
happen but then after that episode I had
a room booked and then started promoting
it and have done too and have another
one scheduled for early January or
January 18th that was a win it's still a
long work in progress
wanting to keep improving the content
and really keep improving my marketing
efforts so that it's more effective but
I'm moving in the right direction
eventually I'd like to have the whole
course kind of perfected and packaged
and put into a video format so that you
can watch it on your own pace you don't
have to do it all in five hours because
it can be a lot of information and then
also from anywhere in the country you
know you can
it'll be targeted towards Moroccans but
even from anywhere in the world anyone
who speaks English could take this
course so I'm looking forward to
developing it to the place where I can
do that but this was a really big step
that I'm happy I took another idea was
I'd love to host a big event the I call
it the get wisdom event and so bringing
a bunch of speakers together who can
impart their area of expertise
specifically targeting young people I'm
kind of thinking you know the seventeen
to twenty five age bracket you know back
students University students some young
professionals really just people to help
they want to grow their vision for life
and they want to improve themselves and
they want to be motivated they want to
be encouraged that the future is bright
and be be empowered to go out and make a difference and to become the best
version of themselves so I've got a
whole bunch of different friends and
people I'd love to invite to come and
speak different influencers and experts
and I was hoping to do that in the fall
but I I decided to push it to the spring
and one of those other opportunities
that came up was I went to Saudi so this
was my first time going in working in
the Middle East which ate up a chunk of
my time
and then also made my classes more
compacted and how I needed to teach the
content in a shorter amount of weeks and
then a couple other opportunities in
Morocco with training so that got pushed
to the spring so that is a a check box
that did not get ticked for this last
quarter let me pass it back to you well
aside from getting the office and do we
deal with duty-free I also have
desires to hire commission sales agents
not necessarily as employees but as auto
entrepreneurs as freelancers who could
go out and sell my services and
receive a commission I have a few people
I mentioned last week I have that
printer I have a few clients who are on
a referral program but I have yet to
find someone to actually go out and sell
my services in the way that I had
imagined back in in September so I'm
hoping that now this new initiative that
and then even think about in September
which is the entrepreneurs club will be
a source of sales, will be a source of
sales agents for me as well that I can
either meet club members or their
friends who will go out and sell my
marketing and digital services for
Commission and unfortunately I haven't
gotten there yet but it's still a goal
of mine and one of the obstacles is
actually getting people to an auto
entrepreneur status so that they can
issue the Facture or I think one of these
days we're gonna have to revisit this
topic of auto entrepreneur and really
get into the details of who can do it
what are the limitations how do you sign
up what are the steps because I'm seeing
that it can be a confusing process for
people the website is not great in fact
it can be a little bit difficult to to
sign up and get your application printed
but I was encouraged to learn the other
day as I was reading The Economist or
maybe Le Matin, that there are more than a
hundred thousand auto entrepreneurs in
Morocco what? that have successfully signed
up and have the card wow that's really
surprising but that makes a little more
sense with the current popular
advertising campaign around the city I'm
not sure if it's running in other cities
as well but here in Casa there's many
billboards of
different types of people holding up
their auto entrepreneur card and the
premises come and have your small
business needs met at bank popular so
that makes sense if they're running a
billboard campaign that there's a large
enough market that they're gonna appeal
to these 100,000 people hopefully get
them recruited in to as customers wow
that's that's encouraging yeah I need
people to be Auto entrepreneurs so they
can give me an invoice somebody can give
me a facture, yeah because I'm not
going to pay people cash and not be able
to expense it on my taxes for my
fiduciary
they need to have that status yeah and
as I've mentioned in previous podcasts
if you're interested in selling my
digital services you want to have a
conversation send an email to
ryan@Moroccopodcast.com or send us a
message on Facebook that you're
interested in being a commissioned sales
agent and I'll be happy to meet with you
and talk about developing a partnership
yeah it's a great opportunity as we've
said especially for people that want to
do something on the side
even for full-time students that want to
just start developing their business
experience and a passive income or a
relatively passive income so yeah that's
exciting I definitely agree we need to
revisit auto entrepreneur and do more
episodes on it maybe some videos maybe
even like a tutorial here's how you get
your card here's the process I can walk
people through throw it up on YouTube
and as people google it that could
become
traffic source for us which would be
great yeah the other thing I'd mentioned
in episode 28 was my desire to create
this small business marketing Android App, right
out
that is progressing slowly
I still have a potential co-founder in the
United States who's working on a very
specific piece of that app just sort of
his test but it's come along a little
bit slower than I'd hoped but it's still
my ultimate goal because I still believe
that online marketing is the future
around the world and here in Morocco as
well and your digital footprint your
digital presence is as important or it
could be more important for your
business than your actual physical
location whether you're a dentist or a
doctor or restaurant or a retail shop of
some kind yes so for the future I think
it's necessary I think it works and I
think there's a need I'm solving a
problem so I'm still gonna keep pursuing
that until it becomes abundantly clear
that it's not gonna work okay
yeah I have another item on my list that
I was really hoping to move forward on
that I have not progressed which is
creating an audio book about how to get
a job in Morocco so based on the
subscribers I've got on my youtube
channel, Maroc Treasure, I have a lot of
young people that are unemployed or are
wanting to do an internship or are
wanting to land their first job out of
school and they find different videos
I've created on the topic and so I know
there is an opportunity
I would create the book in English and
then have it translated and eventually
published in French as well as in Darisha
if the book goes well and then possibly
produce content around it like gathering
a group of people - almost like reality
show
follow the principles together as a
group and videotape their their progress
as they land their first job I'd love to
do that but the strategy we discussed
back in September was just small little
pieces so you know putting 30 minutes of
time aside each day to chip away at it
and you can create even something as big
as a small book just a little bit by a
little bit just schwäbisch Weah
but that really hasn't happened you know
it's been pushed off my schedule I
haven't been disciplined to hold to it
and so I think my plan is in 2020 to try
a different strategy to accomplish a big
task which is to take radical action so
sometimes you know doing 30 minutes a
day just isn't making the progress you
want and so you need to carve out some
intensive blocks of time so I'm looking
at how maybe in February I can find one
week or two weeks that I can devote
almost solely to this task so to have
everything else wiped off my schedule
and to have parameters in place like
eliminating distractions like my phone
or the internet things that may pull me
back to other quote-unquote priorities
to really focus in on on this task
because I'd love to create the book
publish it in English see how its people
respond and then have it translated so
that by the time summer and fall roll
around I'm starting to generate some
passive income through selling it online
that's one of my goals for 2020 is to
create passive income well I look
forward to seeing how those initiatives
unfold in the new year right the last
thing I want to mention and it goes
along with what I said earlier be ready
to take advantage of new opportunities
or to pursue new goals based on the
circumstances you find yourself in I
knew that as an entrepreneur it can be
lonely sometimes it's hard to network
it's hard to stay motivated
sometimes the habits you've created
aren't enough to keep your going and so
I looked around Casablanca for a club of
people that are like me and I couldn't
find one so I decided I was going to
start one and so that has been another
goal that has come about recently that
is unfolding and I'm going to keep
working hard to get to full capacity on
the club and my goal is that it becomes
essentially self-running that members
take responsibility for organizing
presentations deciding the dates and the
times of the meetings leading the
meetings reaching out to club members
holding each other accountable and then I
can just sort of be the host and a
regular member so that's the goal for me
but just to reinforce to our listeners
not everything that you achieve during
the year you thought about at the
beginning of the year right and it's
okay to adjust it's okay to pivot and
pursue those opportunities that you see
that are right in front of you yeah but
next week we'll go deep into our goals
for 2020 wow I can't even believe it
2020 I still remember when it went from
1999 to 2000 oh yeah that was a big deal
there was everybody thought that the
planes were gonna crash and fall out of
the sky because of y2k yeah I mean I bet
most of our listeners have no idea what
I'm talking about
but that's a Google at Google y2k y2k it
was gonna be the end of the earth the
end of civilization and then nothing
happened yeah I still remember seeing
stickers on devices y2k approved or y2k
tested or something at the end of the
1990s but anyway Merry Christmas once
again Ryan and I guess we'll talk again
in the new year all right sounds good
you've been listening to the Business
in Morocco Podcast my name is Ryan Kirk
here with my co-host Ryan Maimone, if
you enjoyed this episode be sure to
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theme music is lovely day by Bill
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you'll have a lovely day doing business
in morocco we'll see you next time

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