Friday, 4 December 2020

29. Advices For Young People. Create, not consume

4 Dec 2020. 

There is the perception that the younger generation is not into hard work and sacrifices of time out of office hours to build up the business, especially inherited ones.


CREATE, NOT CONSUME 

1.  NEW SKILLS. 

If you are an employee, do know that your boss will hire a younger and less expensive replacement in time to come as intense competition makes pricing cut-throat.   

Make use of every second of your free time to acquire new skills by creating products or services, rather than spending a lot of time on computer gaming and watching movies. 

2.  TRAVEL INSIGHTS.  When you travel, be aware of the culture and businesses, rather than go from one point to another sight-seeing. 

For example, headwear sales in Chaung Tha Beach in Myanmar. The average tourist will do sight-seeing. 


However, if you look deeper, you will see the business aspects of the headwear sales---niche marketing.  How such sales person can earn a living. You have the sales strategy. Those people sells just one product or diverse products, doing cross-selling a related product and what customers are targeted.   


Young people to create, not just consume for their future 
when they are no longer young and strong to be an employee


Beach goer with children


Focus on one product to sell




More sources of revenue hopefully





Beach goers---younger generation and families




Different category of products for beach wear



Beach goers



Create your products to sell.
Focus on a niche market e.g. headwear in this example
Know who are your competitors and customers 
Product diversification
Cross-selling
Don't expect instant success. Many failures.
Hard work and perseverance


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