The billionaire mentality

Every generation needs a revolution - an entrepreneurial revolution

Why are some people lucky?   Why do they have all the ideas in the world?   How come we can only come up with mediocre dry ideas.

We often see posts about billionaire:

1.  Making suggestions on a  barbershop that is hardly breaking even.  He advises the chief barber owner to offer free hair cut.  It is a way of just getting customers in the store, generate traffic, creare the ambiance that people are rushing in.  Money is made in grooming kits, shaving kits and membership

2.  Making a suggestion to a coffee shop to make coffee free.  It would devastate the finances of the coffee shop .  But the billionaire suggest that money is to be made not on coffee but on other products:   sandwhich, coffee blend, mugs and the like.       Others would buy other stuff in the store.  The free always draw in the crowd

3.  The billiard hall that is empty.  Offer first 30 minutes free.

What can we offer as free or as a bait?  Free interment?    For so many number of plots

The business, marketing success secret revealed

Every generation needs a revolution - an entrepreneurial revolution

   

Rizal Philippines
May 17, 2017

What do you get from this story?   Having a lake full of Pesos:

The story is about prioritizing, when you fish:

1.   bait
2.   the fishing rod,
3.  fish processing
4.  lake?

I would like to think that this is marketing parable.  We often say that we are to be market oriented but most of the time we are not.  We are product or sales oriented.  This story says that we prioritize the lake, the market, where we can catch fish.  Thus a market research interview about the needs and wants of customer.



Of course the correct sequence would be:

1.  lake -  the market, where you can catch fish
2.  bait -   the product
3.   Fishing rod  -  your pitch, your promo
4.  processing -  the customer link bond to retain customers to get repeat sales

This is very consistent about my thesis for business success as gurus have all ready stressed:

1.  Peter Drucker -  a business is an entity that creates customer.  No customer no business.   Thus marketing and innovation are important function of a business

2.  Theodore Levitt -   Everything starts and ends with the customer.  The goal of business, all its functions are geared to satisfy the customer.

3.  Our belief - Customer service.  The customer is the king.     The customer is divine.  He pays our wages

This is the full story: