You Are Poor Because of Wrong Business Psychology

0
392

I can see God’s blessings everywhere. This evening, I had another encounter that may occupy a chapter in the book and e-book I’m writing. It’s about one of the reasons why poor people are getting poorer if not remaining on their same level of being poor – wrong business psychology.

My wife and I decided to have our weekly date at the mall (Yeah, I’ve become a better husband now by deciding to date my wife at least once a week). We usually eat in a restaurant, watch a movie, have a body massage or a simple manicure and pedicure will do. We enjoy the rest of the day after a week-long hard work.

The mall is only a 5-minute walk from our house so we decided to just ride a tricycle. Sometimes, we want to enjoy the stars at night so we take a good walk back home, too. But this evening, we decided to ride a tricycle back home.

Okay, that was a very long and detailed introduction already. I won’t tell you what I wore, how I walked, how I talked and so on.

Story # 1

So here’s the message. My wife handed a one-hundred peso bill. The driver asked if we don’t have a smaller bill. He said that PHP50.00 will do. I am a businessman and an investor in the stock market so the numbers of the past and projected inflation rates of the cost of living in the Philippines are at the top of my head. Never did my two fund managers report to me that the cost of living in the Philippines for Q4 2012 has exponentially increased by 150 percent. Why did I say that? Because this tricycle driver is charging PHP50.00 instead of the standard fare worth PHP20.00! So now my two fund managers are not doing their job of reporting this exponential economic inflation rate.

So I told the driver, “We only pay PHP30.00.” Hey, take note that’s already a PHP10.00 tip on top of the standard fare. The tricycle driver finally blurted it out (or he will make a butt-burp), “Oh ayan PHP30.00 na lang. Nakakahiya naman sa inyo.” [He originally spoke in Pampango dialect but here’s what it means in English: Okay, I’ll just charge PHP30.00. Excuse me for embarrassing you.) From that very second, I realized that the tricycle driver studied two languages: Pampango and Sarcasm (I received an email in my spam box that “sarcasm” has become a universally accepted language as of December 31, 2012 at 12AM EDT. I do hope it is a genuine spam email.) So, I just bit my tongue and excuse myself and my wife for an energy-sucking and unwise discussion. Gosh, I saved myself from losing  $100.00 (1-hour professional fee whenever I give a one-on-one coaching on Internet Marketing.)

Do I complain for a measly PHP30.00 on top what we should only be paying the tricycle driver? No. Not at all. In fact, the tip I gave to my manicurist is higher than what I paid for the service rendered. God has blessed me so much that my heart jumps upside down for generosity – but in the right circumstances.

It has been a favorite Filipino pastime to raise prices (I’m holding my composure not to write “illegally raise prices.” Oh, there you go. I can’t help it.) because of the holiday merriment.

As of this writing, I can imagine it on the ceiling of my room that some people are thinking this way, “Aha, while she’s laughing so hard, I’ll nudge her with a quick, ‘Hey, can you lend me PHP500.00? I’ll return this later.’ I’ll take advantage of her good mood while she’s on a cloud nine. It’ll be pretty late for her to realize that she handed me a quick and hot PHP500.00 while she was busy laughing so hard that she doesn’t even feel the flies coming in and going out of her mouth. Yuck!”

Some people have the wrong roots of their business psychology. Business is monetizing talents and not taking advantage of people while they are on extreme emotions or while they are unaware of a dreadful hidden agendum – to take advantage and not to serve. After all, the tricycle driver is a service provider. He provides comfort by keeping us from the heat of scourging the sun or from the frightening barks of stray dogs.

Story # 2

Two weeks ago. I brought my wife and son to the Mall of Asia and to Star City in Pasay (Philippines). My son, Juan Carlos, who is about to fill 5 big baskets of toys, pulled my suit to buy a toy sold on the sides of Star City. Yes, kiddie guilty pleasure. So I told my wife to buy one for Carlos. We go to the Philippine International Cultural Center (PICC) every weekend to attend a Catholic Mass and participate in our worship ministry so I know the regular price of those toys. Oh well, we often go to Divisoria when we ventured into the clothing business so I know the price of those toys, too, I’d say. To my surprise, a toy that’s worth PHP30.00 became PHP90.00. So my two stock market fund managers are not doing their job again.

What Is the Right Business Psychology?

For centuries, Filipinos have dreamed of becoming a first world country but that will only happen after being a first world citizen in having the right business psychology. Increasing sales by implementing an under-the-table price increase is the mastery of the unwise. Instead of illegally increasing prices during the holiday season with the wrong theory that all happy people will let it pass, I encourage you to increase your marketing creativity.

Use Internet Marketing

Use the power of Internet Marketing if your product or service is not just exclusively available within a specific area. To make it more specific, maximize the promotion of your products and services through social media.

YouTube – Create short videos explaining what your buyers will get from your products or services. Video marketing has become viral like never before. If a cat that you see every day becomes a superstar in YouTube by merely doing cat moves, why can’t your products and services, eh?

Facebook and Twitter – Announce your latest promos to all your fans and followers, respectively. Let me give you a fact. Asking some “Do you have a Facebook account?” is also like asking “Are you human?” Be where your potential customers are.

Your One-Million Strategy 10 Years Ago May Worth Nothing Today

That’s a fact. The strategy that made you to the top of your net worth sales through Internet Marketing some 10 years ago can be the laziest business strategy today. Find a mentor on Internet Marketing. This is the reason why I put up the IM Pinoy Club (IM means Pinoy). This is a private mastermind group where like-minded people channel their passion, potential and purpose with one another. Visit my fan page at https://www.facebook.com/JayceeSDeGuzman and send me a private message with your intention to join this private mastermind group for FREE. I’m not going to charge you a professional fee worth $100.00 an hour by asking me questions on Internet Marketing as long as you ask within the group’s page so everyone will benefit from your question and my answer.

P.S. If I could exchange my time with your ability to like my fan page, I’d be happy because I can make you achieve your first greatest action for 2013.

 

Jaycee De Guzman

Jaycee Silverio de Guzman is a computer scientist by profession. He is the founder and CEO of iPresence Digital Marketing, Inc. and Equilyst Analytics, Inc. He is a husband and a father.
Jaycee De Guzman

Do you have a comment?

This site uses Akismet to reduce spam. Learn how your comment data is processed.