I’m not one to boast that I work under my own terms or that I am my own boss. That is simply the reality of it all. But I don’t have a multi-million dollar business, I only have enough for myself and I am happy with it. I do not strive to be 10 times as good as anyone, such things are purely ego.. bitterness is not the proper inspiration for me. I am happy where I am, how I am doing and it’s good enough that I am earning more than enough for me to say that I would probably make more for myself and maybe a family.
So allow me to give you some tips on how you can succeed the Paolo Mendoza way. I mean, it’s not much but maybe it might work for the four year old selling lemonades.
1. Dont do what the rest are doing. If I were to tell you how I earn money, you’ll most likely laugh. I do get much respect from that business, sure it’s good enough for the 26 yr old yuppie but not when I turn 50. But there is one good point to learn about this, the only reason why I am earning is because nobody else is doing it. I am the prime provider of the service I do and I reap all the benefits.
I remeber back in the day when Tapioca stores were new in the Philippines, everybody wanted to franchise. They said you can be a millionaire doing such, but alas the market became saturated and all the people who invested 6K bucks went bankrupt. The same is true for water purifiers, internet cafe’s and billiard stores.
2. Location, Location, Location. This is the first marketing concept that everybody learns and it doesn’t even mean anything. It’s one word repeated three times. but let’s face it, it does make a jarring reminder that your business can be a make or break depending on location. If your business is good enough to stand on crowded ground and have that appeal to grab the eyes of customers, you’re well on your way.
3. Are you ugly, dont be an employee. I’m rested on the fact that I cannot hire ugly people. It’s the math of it. The young will bring in more people into my business and if they’re hot, they will most likely bring in twice the amount of people. I would rather hire hot men than women because women-stalkers are such a pain in the ass, and let’s face it a man is more likely to come up to me holding a gun than a woman. As far as sales go.. having a hot guy on board will double up sales because there are several men who will spend for a good flirt.
4. Accounts and discounts count. Back in the Philippines, I had a small gig which were basketball uniforms. If you’re paying 700 pesos for a pair of 3 colored silk-screened uniform, you’re most likely giving its owner 500 pesos. It sounds like a rip-off but it never is, that’s business. You pay for the things you like, and it’s most likely cheaper when you do the research. Think about that 700 pesos for a second, now imagine if I told you I’d give it to you for 650.. now that’s only a 50 peso discount but it makes all the difference. You’re gonna be back for the varsity games, and for the december games and if I offer a sports bag out there (which I will say is worth 50 pesos but is really just 5 pesos), you I have you in the bag as well. Hihihi.
5. Which came first, the business or the egg? So what is it, your receivables versus the others. Sounds whack to you? Let me give you a better sense of it, receivables are a huge part of your business, you should respect its existence. All of us really just prefer the cash, but thankfully banking allows accruals. But you too will have receivables and you should prefer it before cash. In truth the world revolves around receivables. Your management skills is where you weigh out the ones that make and the ones that you get. There’s no evolution versus creationist here.. the answer varies depending on your worksheet, with the objective of not being in deep debt.