April 18, 2011

Financially literate..

If I would ask a group of my friends, " How many of you can cook better hamburger than McDonald's? " almost all of my friends would answer yes. I then ask, "So if most of you can cook a better hamburger, how come McDonald's makes more money than you?"

The answer is obvious: McDonald's is excellent at business systems. The reason so many talented people are poor is because they focus on building a better hamburger and know little to nothing about business systems.

Here's a good example of what I'm trying to convey dear readers. A friend of my father in Kota Damansara is a great artist. He makes a sizable amount of money. One day his mother's attorney called to tell him that she had left him around 120k of Malaysian ringgit. That is what was left of her estate after the attorney and the government took their shares. Immediately, he saw an opportunity to increase his business by using some of this money to advertise. Two months later, his first four-color, full-page ad appeared in an expensive magazine that targeted the very rich. The ad ran for three months. He received no replies from the ad, and all of his inheritance is now gone. He now wants to sue the magazine for misrepresentation.

This is a common case of someone who can build a beautiful hamburger, but knows little about business. When my father ask what happen and what he had learned, his only reply was that "advertising salesperson are crooks". My father after entering a class in sales and direct marketing really express his satisfaction of the classes. It really help him a lot, he said. But, after my dad asked him if he would willing to take a course in sales and direct marketing. His reply, "I don't have the time, and I don't want to wast my money."

The word is filled with talented poor people. All too often, they're poor or struggle financially or earn less than they are capable of, not because of what they know but because of what they do not know. They focus on perfecting their skills at building a better hamburger. Maybe McDonald's does not make the best hamburger, but they are the best at selling and delivering a basic average burger. It all comes own to your financial literacy and knowledge about the matter.

Well those are the points I'm trying to let you know. The hamburgers are merely metaphors or an example to help you understand better. There are a lot of people missing all this opportunities to expand their wealth through some simple knowledge. Do take notice.. If you guys want me to write more about the matter, do leave a comment.

Lutfi Adam..


Anonymous said...

business strategy .

tu dia post panjang lebar lepas hibernate .

Lutfi Adam said...

fin.. seriously laa.. ramai yg missing out.. byk lagi actually..

Anonymous said...

yes . i know . thanks for sharing . bila nak share pasal real estate ?

Nani Othman said...

blogwalking. and found out that you're actually following me! XD omg i'm flattered - because i like your entries and i think you're cool. =)

ah yes regarding the post..i should say something, no? i think it applies to some of the people around me, too..like they asked if i think they're great girls..i told them yeah, i think so. then they went, 'so how come aku tak kawen lagi, the not so great girls semua dah ada anak?'

or did i miss the point?

Lutfi Adam said...

woahhh.. nani othman actually commented on my blog..i'm flattered too.. sorry for the late reply tho..i'm quiet busy with Ib and life.. Hahaha..

ermmm..bout ure cmmnt.. i think u pretty much got the point there.. to think that so many of us are missing the chance to actually succeed.. its scary but eventually, everything comes to rezeki jgkkan.. :)