📚 WEEK 1: BUSINESS MINDSET — STOP THINKING LIKE EVERYBODY
🎯 SALES NO BE PROFIT!
Lagos. 6:42 a.m.
Emeka woke up thinking about yesterday's lesson.
He had learnt something important:
KNOW WHO DEY BUY FROM YOU.
But as he opened his notebook, another question came to his mind.
«“If I find my customer and they start buying from me, how do I know whether I'm actually making money?”»
He paused.
Then he remembered something Kunle had told him the previous day.
“Guy, once people dey buy from you, you don make money!”
Emeka wasn't completely convinced.
He decided to investigate.
---
🕘 9:05 A.M.
Emeka visited a small phone accessories seller.
The seller had made several sales that morning.
One customer bought a charger for ₦8,000.
Another bought an earpiece for ₦6,000.
Another bought a power bank for ₦15,000.
The seller smiled.
“Business dey move!”
Emeka smiled too.
But then he asked:
“Sir, how much be your profit?”
The man paused.
“Profit?”
“Yes. After you remove everything wey you spend.”
The man looked at him.
“Ah… I never calculate am.”
Emeka opened his notebook.
He wrote:
SALES ≠ PROFIT
---
🕚 11:30 A.M.
Emeka met Kunle.
“Guy, I don discover another business lesson.”
Kunle laughed.
“Wetin again?”
“Sales no be profit.”
Kunle frowned.
“Abeg explain.”
Emeka picked up his notebook.
“Imagine say I buy one product for ₦7,000 and sell am for ₦10,000.”
Kunle replied:
“Simple. ₦3,000 profit.”
Emeka shook his head.
“Not necessarily.”
“Why?”
“Because I still need to consider other costs.”
Transport.
Packaging.
Data.
Delivery.
Shop rent.
Electricity.
Staff.
Damaged goods.
Transaction charges.
Advertising.
And other business expenses.
Kunle nodded.
“So the ₦3,000 fit no really be the final profit?”
“Exactly.”
---
🕐 1:15 P.M.
Emeka decided to use his own ₦350,000 as an example.
Suppose he buys products worth:
₦200,000
He sells everything for:
₦260,000
His sales revenue is:
₦260,000
His gross difference is:
₦60,000
But then he spends:
🚚 Transport — ₦8,000
📦 Packaging — ₦4,000
📱 Data/marketing — ₦5,000
💳 Transaction charges — ₦2,000
🏪 Other business expenses — ₦6,000
Total additional costs:
₦25,000
So the amount remaining after those costs is:
₦35,000
Emeka stared at the figures.
If he only looked at sales, he might proudly say:
«“I make ₦260,000!”»
But ₦260,000 was not his profit.
It was his revenue.
That was a major difference.
---
🕒 3:40 P.M.
Emeka opened another page.
He wrote:
REVENUE → COSTS → PROFIT
Then underneath:
PROFIT = REVENUE − TOTAL COSTS
He began to understand why some businesses could have plenty customers and still struggle.
A business can sell a lot and still make little profit.
A business can even increase sales and reduce its actual profit if its costs increase faster.
So he wrote another question:
«“AM I MAKING SALES OR AM I MAKING PROFIT?”»
That question was becoming important.
---
🌙 THAT EVENING
Emeka looked at his ₦350,000 again.
A few days ago, he was eager to spend it.
Now he was asking better questions.
He wrote:
BEFORE I START, I NEED TO KNOW:
How much will I spend?
How much will I sell for?
What does it cost me to serve one customer?
What other expenses will I have?
How much remains after all costs?
How many sales do I need to make before the business becomes worthwhile?
He smiled.
His ₦350,000 was still untouched.
But his understanding was growing.
---
💡 THE BUSINESS LESSON
Many people celebrate:
“I SELL ₦100,000 TODAY!”
But the better question is:
“HOW MUCH PROFIT REMAIN AFTER ALL MY COSTS?”
Remember:
SALES = MONEY GENERATED FROM CUSTOMERS
COSTS = MONEY SPENT TO RUN AND DELIVER THE BUSINESS
PROFIT = WHAT REMAINS AFTER COSTS
Don't confuse:
❌ Sales with profit
❌ Revenue with income
❌ Cash coming in with money you can spend
A serious entrepreneur tracks the numbers.
Because:
HIGH SALES ≠ HIGH PROFIT
🔥 SALES NO BE PROFIT!
---
🎯 DAY 5 BUSINESS CHALLENGE
Think about one business you want to start.
Write down:
1️⃣ What will I sell?
2️⃣ What will it cost me to buy or produce?
3️⃣ How much can I sell it for?
4️⃣ What other costs will I have?
5️⃣ How much will remain after all costs?
6️⃣ How many units must I sell to make meaningful profit?
Don't just ask:
❌ “How much can I sell?”
Ask:
✅ “HOW MUCH WILL REMAIN AFTER MY COSTS?”
KNOW YOUR NUMBERS BEFORE YOU SPEND YOUR CAPITAL.
---
📚 WEEK 1: BUSINESS MINDSET — STOP THINKING LIKE EVERYBODY
This is Day 5 of 30 in SCHOOL OF MONEY.
Day 1:
CAPITAL NO DEY? LEARN FIRST!
Day 2:
BUSINESS NO BE JUST “BUY & SELL”!
Day 3:
YOUR PROBLEM FIT BECOME YOUR BUSINESS.
Day 4:
WHO DEY BUY FROM YOU?
Today:
SALES NO BE PROFIT!
Tomorrow, Emeka will discover another important business principle:
🎯 KNOW YOUR NUMBERS BEFORE YOU GROW.
Because a business that doesn't understand its numbers can grow bigger while becoming less profitable.
LEARN • LEVERAGE • LEAD
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Follow @schoolofmoney for DAY 6 tomorrow.
LEARN • LEVERAGE • LEAD.
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