The Best Product in the World

Okay , back to my favorite topic , business .

When i was young , i like to think “what is the best product in the world?”

I made a list when i was 17 years old . The best product in the world must be .

1) Very sellable , the demand exceeds the supply  .. everybody wants a piece of it .

2) Very low cost & high profit margin

3) Do not need to keep stock , so that i can apply JIT system

4) Of course , a high quality product that can grow and expand ..to Overseas market.

5) very little competition , or none .

6) A service or Skill that ONLY i can offer ..

I thought of many things ..Such as Insurance , Cars , New Burger Chain Store , Computer game , DRIVING SCHOOL (My fav) , Cinema , Amusement park , drugs ..heck , i even thought of selling MALAYSIAN PORN .

Lots of crazy ideas ..but , most of them are either illegal , or i need ALOT of Capital to start ..

Then , here comes WORKING LIFE ..(Started teaching guitar when i was 17)

I found out ,  there are 2 different types of product .. Both different nature..

1.Group A : High Price , low quantity

High price , low quantity ..think BMW Cars …Only rich people can afford . Every month you sell ..maybe 50 units ? But the profit margin per sale is ALOT .

2.Group B : Low price , lots of quantity

Low price , lots of quantity , think , Tesco , Air Asia , Giant , Shampoo , Soap ..products that MANY people can afford and use . Every month 100,000 Sales , but you only earn RM1-RM20 per sale .

Which is better ? Same lah…

Group A will always argue that the profit earned from a SINGLE sale , is equivalent to Group B’s 10,000 Sale . All they need to  do is work on their TRAFFIC and their quantity .

Group B will always argue , because they have the quantity , they are more flexible ..they can have multiple streams of incomes , such as ADVERTISING to their audience and make group B pay for the advertising fees . The problem though , is Group B will have high overheads ..they need to hire alot of people ..can you imagine 10,000 customers dealing with  2 customer service rep ? LOL . Plus , the profit they earned per sale is RM1 ..what if its a hard ass demanding customer , is it worth all that trouble for that RM1 profit ?

Same lah , this argument can go on and on ..Its a good topic if you’re in the mood of debating . Quality Vs Quantity . Traditional never ending argument .

Back to myself , 18 years old kid . Once again , I was looking for the best product in the world . This is where i found the BALANCE ..selling GUITARS ..a perfect balance between quantity and quality . Other balance industry to consider are : fine dining , used cars , handphones , computers .. But they have ALOT of competition , so let us not get into there..

Okay , so business started…I became a guitar reseller when i was 19 …after 3 years , I started Music Master .Before Music Master , i thought i was selling the best product in the world ..but i was wrong ..

One day , while i was clearing my cupboard in my room , I found the list that i created when i was 17 years old (On top of this post) ..i realized , being in a guitar business .

1.Not very low cost

2.I need to keep stock

3.Fair amount of competition

4.MOST of the products , the supply exceeds the demand .

I realized , people wasn’t buying from me because i am selling BEST PRODUCT IN THE WORLD . I went on , tried to figure what’s wrong and what’s right ..soon , i got myself into the sound & lights , events , advertising and consultation industry ..

Then , I finally understood ,

The Best Product in the world ,

is YOU , YOUR BUSINESS & YOUR NETWORK .

Which basically means , contacts , people you know  , people you work with and people who work for you..yeah ..Networking . You always hear working people say shit like “its not what you know , but who you know” ..man don’t take it lightly ok , its SERIOUS SHIT. You’re in deep shit if you don’t have a strong network .

Let me give you an example .

I got a friend . Who has huge network with the government . Government love him so much and they gave him a contract . The contract was , he gets to be the official “Printer” for SPM , PMR & UPSR Test paper .

My friend , who got the contract . Charged the government RM0.10 per piece . Then he went to 5 other small photocopy companies and get them to do the dirty work . He paid them RM0.03 per piece .

He earned like mad .Imagine how much he makes ..by doing nothing  , he doesn’t even have a photocopy machine . All he has is a business license , a priceless contract and a name card .

*Not to mention his “extra income” by selling Pre-SPM paper to Kiasu students .

Example two :

Another friend , who is earning RM2000-RM3000 through Forex . Met up with me and introduced me to the world of Forex , He showed me its potential , how can it make money while he is sleeping . The business is autopilot .

All i need to do is , join his “group” and his “group” will teach me .

I told him , “Forex makes you money , but i know the REAL money is to TEACH people how to make money with forex “

True enough , joining his group would require to pay RM3500 per person . Imagine if i am the owner of the training company , and i have a network of lets say …100 people joining a MONTH ?!! Plus i can impose Subscription fees & membership fees , not to mention selling the software , subscription fee’s for the software , upgrades for the software , organizing bootcamps & seminars for forex . A super money generating business .

.

Other examples :

Selling Insurance makes you money , but the real money is owning a network of Insurance Sellers

Selling Beauty Products via direct selling makes you money , but the real money is owning THE network , and supplying them the products

Opening Mcdonalds and selling burgers makes you money , but the real money is OWNING the BRAND , supplying your network of franchises.

Being a Pilot , makes you money , but the real money is owning Air Asia and pay YOUR Pilot .

Being Bentley and sell guitars makes money , but the real money is …owning Ibanez co . itself . Manufacturing guitars every month .  Getting your international network of guitar stores such as Guitar Center , Bentley , Swee Lee to carry IBANEZ so that they bow down to you .

Do you wanna know how to retire young ?

You sell your business & your network , for a big chunk of money .

Network is the SHIT .

Don’t think what product should you sell ..

Think …how do i build my network. Today .

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