This is discussed in 5th discipline by Peter Senge. This video lists mental models we can use
1 Maps and reality dont match
2. Focus on your circule of competence
3. First principles (eg believing that launching rocket is an expensive enterprise) Find the first principle. Eg. that costs of launching rocket is only 2% of total costs.
4, Test your theory vs reality with experiment
5. 2nd order thinking
6. Probalistic thinking (degree of confidence) vs results
7. Inversion (what can be worse so that we can avoid mistakes) What can be stupid?
8. Occams razor. The simplest explanation is usually right.
9. Hanlon razor - things happen not because of malice but oversight
Mr. John Rockefeller when he was young and studying was taken out of school picture at the request of the photographer for not being pleasant looking It was degrading and demotivating to be excluded from class picture that he would be greatest man wealthiest man ever...This was contained in 38 letters to his son (which later became a book)
So a negative should be a demotivator. It should be a motivator.
We should have a relentless self belief that we are the best
A businesswoman from Cebu stayed in a hotel overnight in Makati and was being charged P4,500 for the overnight stay. She asked how come. The receptionist said the price included breakfast, use of gym and swimming pool However she said she did not use the facilities and why would she be charged for this Also she was doing business advisory and consultancy for the hotel. Because it is not being used she is not charging for it
The owner, boss of the hotel heard the commotion, asked what was happening and apologized for the misunderstanding. He just said it is on the house.
The lady overhead though that it is the end of the month and they would not be able to pay the rent of the building.
Lady q - How much is the rent?
Answer P2,000, 000 per month
Q: How many total rooms and how many are occupied
A: 80. Only 35 are occupied
Lady: Suggestion
1. Tie up with car wash repair shop to tie up with hotel at P1,500 per room. If you have 10 car wash
enrolling for 10 each that is P150,000 + x 30 = P4,500,000
2. Offer unli voucher for P20,000 for frequent travellers. Aim for 1,000 subscribers. Thats 20 m!
Thats a lot of addition to revenues and cash flow that will solve your rental problems
Did the lady earn her P1,000 freebie? What do you think of this unique ideas? Innovative, amazing to solve both marketing and financial issues.
Will you able to think of similar strategies/moves, bordering on tricks or scams.? Or regulatory limits
Some of the better businesses are in entertainment and what could be better than the bar where students, workers, and the elite gather at night to relax and be entertained. But how do you acquire man
From Mashabooks:
A millionaire lost all his money and had P40,000 left. But he has still an Armani suit with him. He went into a bar and thought of how he can recover if he invests in a bar. He toyed with the idea of investing in a bar. He talked to the owner. He said P80 million.
Ok he said P100,000,000 . I will pay you P10M up front see if the business is good and pay you the balance in one year. If not I will let you keep the P10 million
So on day 2, the new owner called the 5 managers for a meeting Ok if you put up P3 million each, you will receive 8% share in the bar. (or 40%) He will return the money in 1 year. To which they agreed Thus he got P15 million, paid P10M to the owner, and has P5M as operating capital Then he announced to the manager of his marketing and investment blitz. GC your contacts:
He will have customer investor day, and food and drinks will be for the owner.
He welcomes investor of P2M each who will receive P2M worth of gift check for food and drinks;
He will return P2M at end of 1 year
2.5 at end of 2 years
3.0 at end of 3 years
5.0 M at end of 5 years.
400 guests came to the bar and 200 signed up for the investor deal. He grossed P400 m, he got the 90M to pay the owner, and 15M to pay back the manager. Brilliant eh.
The principal is lucky because it does not usually happen that way. Maybe a fairy tale
This calls for:
1. Creativity,
2. Frugality to come up with P500,000
3. Salesmanship to convince the bar owner,
4. Integrity so that they will trust you
5. Creativity and ingenuity to come up with the deal
