On the west coast of the United States, there was a young mechanic.
Let’s call him Eric for now.
He’d been fixing cars since he graduated from high school.
He became a father after nearly seven years. He made the decision to increase his earnings.
He got a job as a salesman at a used car dealership.
There, he saw the best salesmen selling an accident-damaged vehicle to a single mother.
“There were no mishaps or mechanical faults. He assured her that everything was fine.
From that transaction, that salesman received a sizable commission.
That is what must be done in order to sell automobiles. Tell a lie. He was unable to perform the task of telling lie. He left his job and went to work for another dealership, hoping that they would be more honest with their customers.
Unfortunately, it was not the case for him.
“This car has a turbo that makes amusing noises, but if you keep the customer interested, he won’t notice.” His manager once told him, “Hopefully, the turbo will go bad only after we’ve sold the car.”
He wondered aloud, “Why can’t we just fix the turbo?”
“We’re a car dealership,” says the boss. “It’s not a garage,” he was told.
Meanwhile, he purchased a used VW Jetta from a friend for a very low price.
Since the car had been flooded, it had electrical and mechanical damage.
Things had been fixed, but clearly not everything was up to par.
He’d had enough by the time he replaced his wiper motors a few months later, after having already changed numerous other components.
He discovered a VW Jetta that had been in a crash in a scrap yard where cars written off by insurance firms were stored. From the back, the body structure was shattered. There was no way the car could ever start again.
However, the engine and electrical systems were in good working order.
He got this car for next to nothing.
He took parts from the crashed car and installed them in his own car over the course of a few weeks.
He ended up with a car that was in perfect condition and had no issues.
Yes, that’s it!
From there, his story progressed as anticipated.
He was doing something that no one else in his neighbourhood had considered.
He, too, was selling older automobiles.
Unlike other dealerships, he would purchase two old cars with different defects and sell them for a profit. Then he’d try to swap parts so that he could have one decent car.
Several entrepreneurs, like Eric, work on automobiles in a similar way. In reality, there are people like this working in the fields of computers, smartphones, appliances, watches, and everything else.
How do you think Apple makes money? (to use an example from another company?)
Apple’s largest source of revenue was computers until 2007, when Steve Jobs walked on stage and introduced the world to the iPhone.
What exactly is it now?
What exactly is it now?
iPhone, yes.
What about McDonald’s?
McDonald’s is so well-known for its burgers that there are places on the planet where people have heard of McDonald’s but not of Santa Claus.
What is their source of income?
Sure, there are burgers. Yeah, there are fries as well.
Real estate? Isn’t that correct?
Yes, indeed. A resounding yes.
McDonald’s owns commercial space in such high-demand areas that even luxury watch brands are having trouble finding space.
Yes, near Big Ben in London.
Yes, Times Square in New York.
Yes, Moscow’s Red Square.
These places provide them with a source of income. And it’s this that keeps them afloat when the burgers don’t sell well.
shell? the corporation that owns petrol pump? Petrol is a petroleum product. However, groceries and coffee are also available.
PVR. Movies. Also, popcorn.
A company used machine learning and artificial intelligence to evaluate politicians’ live speeches as they made major announcements.
They’d be able to guess whether the news was good or bad based on the sound of the voice a few seconds before the actual bad or good news was revealed.
They’d place bets on the markets and profit – all in a matter of seconds.
What do all of these things have in common?
One thing is for certain: they all make money.
Apple makes money in the forms you would think.
McDonald’s makes money in a way that few people predict. They all make money, though.
And that’s the thing about investing: you never know what you’re going to get.
There is no such thing as right or wrong.
Things work different for various business.
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