Tuesday, March 4, 2014

The Bus … benefits of thinking like an entrepreneur

As his friend got on the bus, this guy asked him if he had 50 cents. His friend said he didn’t, then he turned to me, sitting in the back, asked me if he could borrow 50 cents. I said not now. His friend nudged him to ask the lady in front of him across the aisle. She rummaged through some things and came up with a bag of pennies. What went through my mind is that he is going about this all wrong. He used the word, “borrow,” which implies he plans to pay you back, a time, a place. Well, I obviously didn’t see any of these conditions present, and not knowing him how in the world would I know I could count it being paid back as he suggested… a lack of trustworthiness. 

Consider this scenario, someone (let’s call him Todd) needed $20. As Todd walked down the street he saw a lawn mower for sale for $20. As he continued walking he saw several yards that needed mowed. Todd found a person who would pay him $20 for mowing his yard. He told the man that he needed to go buy this lawn mower on sale for $20 so he could mow the yard. He asked his prospective customer if he would advance him $20 so he could do this. The man hesitated. So Todd asked the man to go with him or he would leave him his jacket as collateral. The man agreed. He bought the mower and mowed the yard. The man liked the job and asked him to come back again. 

Then as he walked down the street with a lawn mower he found another yard needing mowed. He offered $20 to mow it. The lady said yes, but now he needed gas. He asked the lady to pay him $20 upfront so he could go buy gas. He offered to leave the mower there to protect her money advance. She agreed and he went and bought a gas can and gas. That day he mowed two more yards for $20 and made $40 profit while having his equipment paid for. He would buy another mower or two when he saw good deals along the street, so he would have a backup. 

Todd rides the bus when he’s not mowing and now makes up to $200 a day mowing yards at a competitive rate. 

Two people who ride the bus. One has an entitlement mind… ask with no guarantee of a  return. Another uses an entrepreneur’s approach… provide something of value for someone who investments in your service. 

The bus culture is a prime place to teach entrepreneurial skills… to learn how to use your skills, provide a product or service that someone else would see of value and pay for it. If this culture were taught this, we would have Todd’s of the world making a positive contribution to the world around them. It starts with a change of mindset, creating belief in one’s self, and showing how to make money while improving lifestyle for others and our self. We could change our culture for many on the bus and those around us if we learned how to apply the entrepreneurial way of thinking for getting what we need. 

Actually, as an entrepreneur friend of mine told me, we should make learning entrepreneurial skills a requirement in our education system.  It’s not only personal survival insurance, but a lifestyle fulfillment factor in our pursuit of happiness… our privilege of the free enterprise system in America. 

While on the bus that day I was thinking about this guy’s approach to get 50 cents. (I really didn’t want to reward a method I disagreed with.) I felt for the lady who gave her bag of pennies to this guy. As I got off the bus I passed by her. I reached in my pocket, pulled out my change. I spoke to her as I walked by and handed her my change, “God wants you to have this for your kindness.” I realized I had about 80 cents in change and a few pennies. She got paid back more for being kind. 

The lesson learned:  think like an entrepreneur; create something of value to someone who will pay you for it. And God rewards kindness. 

Also, here’s a book summary that teaches how to make money, when you need a few extra hundred(although the author suggests a thousand). It’s the Todd way of thinking… an entrepreneurial approach. Put More Cash in Your Pocket.
Feel free to pass it on. If we taught people “how,” the “have” would be more widespread.

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