August 29th, 2014 by Alan Yu
I thought this was kind of funny the other day as there was this sign plastered near the location of the annual fair here. As you can see, there was an individual that was selling bottled water on the street with a sales pitch on how inside the fair you would be looking to pay at least $3.50 whereas this person is charging $1.
I was thinking how you normally need some kind of permit to street vendor like this. Especially being right next to the fair itself where I am sure the merchants inside wouldn’t be too happy about it. Almost like a person going up to a movie theatre and advertising right next to the door on how he can sell the same soda for less. However, I would assume that this person simply decided to take the risk hoping nobody would care and that he would end up making a decent profit. Almost like setting up a lemonade stand.
Kind of ironic in some ways where I’m sure in most business types of books you are told to go through all the proper procedures to do business. In cases like this it’s not too far fetch that a lot of people get started this way even if it isn’t technically abiding by standard rules. Would you take the risk in not getting say licensed to sell your products in these types of scenarios with the mindset that you are so small that no one cares?
August 28th, 2014 by Alan Yu
There are about three different items I was thinking of investing in as a way to get some specific projects going and it got me thinking how this is kind of an important mentality to stay out of debt in many ways. Basically, instead of always using your money on entertainment or lavish ways to dine out you should get into the habit of thinking how you can use your money to either make more or to free up your time.
Trying to do this during times where finances aren’t really an issue is a good time to do so too as oppose to scrambling to say find some money making opportunity when you are in a pickle in hopes that all your financial problems will go away with a lottery mentality. It helps to surround yourself with other like-minded individuals as I often find doing so allows you to get ideas and support from others who have similar goals. Basically have to be pro-active in finding ways to not always have zero savings if your goal is to have a good nest to rely upon.
August 27th, 2014 by Alan Yu
I was talking to a person today who appeared to have won a few stuffed animals as result of playing these games. These are basically carnival games where you often have to pay $5 or more to try and win a prize. There was this one game where it didn’t sound too hard but you had to essentially play X amount of times to actually win anything good. The cost to do this was about $30 it seems. I was looking at the stuffed animal that was won and I know for a fact you could buy it for like $7 at a retail store.
It does sound kind of silly if you were playing it just for the prize in that sense huh? This can apply to other things too such as people buying a lot of cereal to simply get a toy or candy that comes inside the box. I guess sometimes we just assume that prizes from places like these are exclusive to these game vendors only when many times that isn’t the case. They bought it from somewhere too and if you look hard enough you can easily get it for cheap as well.
August 26th, 2014 by Alan Yu
I was having a conversation today about comparing some staffing scenarios where there were two different teams that were essentially running the same type of program. However, one team had less work to do while the other had more. The one that had more work actually had the same amount of people working on it as the other group. Apparently the group that had less work was mentioning how it was difficult due to not having enough people which the other group had to laugh about a bit.
It’s a funny topic in some ways as it had to do with company budgeting and I can imagine in this case an executive would simply look at numbers and dollar signs to assess what is appropriate. However, in this case there didn’t seem to be any consideration in terms of the quality of the individual. Kind of like saying, in many ways in this case it was like you can hire two people at $20 an hr each to try and fulfill a task or you can attract a superb worker at $35 an hour who can literally do the same thing as the two combined.
It’s not something we often think about huh? People do it all the time when it comes to buying products, but it’s interesting how many times we don’t even think of this when it comes to paying people to do a job. Sometimes it can make more sense to pay for higher quality workers.
August 25th, 2014 by Alan Yu
I know a person who needed to get some medical testing done and the price to do so was pretty hefty. As a result, they turned to the Internet and saw all these kits that promised to do what all the professionals would do except the cost was like 20% of what you would normally pay for an in-office test. I guess a very common type of service is teeth whitening where an in-home kit is a lot cheaper than going to a dentist.
Would you ever trust an in-home kit though in this cases where it’s something that you really need and are simply trying to save money? To me it just seems so risky where there is a high chance you will end up buying something that doesn’t work. As a result, you then buy more products where eventually it’s like you ended up paying the high fee for the professional anyways. Funny enough, even for professional services you can often try to at least “price match” service fees too. I would much rather try that route personally if it is for a seriously needed product or service.