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THE MBA BEGGAR’S LESSONS

I have bought a Gucci bag in Crescent Plaza and stood at the door waiting for my friend. Unexpectedly, a professional beggar spotted me and headed toward to my front side. My story is just that. However, the beggar taught me a better economic lesson than any MBA courses at school. Now I tell this story because of his intention.

– Please … give me some money! – I stood there and throw him a coin, then started talking together because I had nothing to do at this time.

The beggar seems interested in that. He said:

– I only walk around this mall, you know? I just slightly glance to find you. You are going to buy Gucci in the Plaza and certainly has a lot of money…

– Huh? – I am surprised. The beggar seems so smart.

– To approach you, I have to use some of scientific techniques. – He started to explain.

I thought for a moment and ask him:

– What are those scientific techniques? I looked at him carefully, his hands were thin but clean.

He explained:

– Everyone hates beggars, but I believe you don’t hate me. I’m sure about that. That is the difference between me and the other beggars.

I nodded as agreement. I did not really hate him, so I was talking to him.

– I know SWOT analysis, advantages, disadvantages, opportunities, and risks. Facing to other beggars as my competitors, my strengths are that I do not offend people. Opportunities and Threats are just external factors in the circumstances, whether the population is large or small, the city has the decision to embellish it again or not.

– … ???

– I used to calculate very carefully that this area has a huge daily traffic, approximately ten thousand people, and the majority is rich. Theoretically, every day if I get a dollar from thousand people, each month my income will be thirty thousand dollars. But in fact, not everyone will give beggar money. Therefore, I have to analyze who my target and potential customers are.

He continued:

– At Crescent Plaza, my target customers account for about 30% of shoppers, with a 70% success rate. The number of potential customers is about 20%, the success rate on this object is about 50%. The rest 50%, I choose to ignore them, because I do not have enough time to find my luck with them, (aka asking for money).

– What do you mean about your customers? – I asked.

– Firstly, the target customers are the young men like you who have high income and be able to spend money without hesitation. In addition, couples are also my target audience. Because they can not lose face in front of their partners, so they will hand out generously. I also choose beautiful girls standing alone are my potential customers. Because they are afraid of being annoyed, so they choose to spend money to get rid of me. These two groups are in the 20-30 age range. If the customer age is too small, they certainly have no income. Otherwise, with the older age, they may already have a family and their money is hard to beg.

– How much money do you earn every day?

to Friday, will be a little less, about 200 – 300 dollars. Weekend can even 400-500 dollars.

So much?

me suspicious, he counted me:

am different from you, I also work eight hours per day. In the morning from 10 am to 6 pm. Every time I approach a person, usually one minute I would get a dollar, so that after 8 hours I get 480 dollars, then calculated with a success rate of 60% [(70% + 50%) ÷ 2] then I was about 300 dollars.

My strategy is definitely not wasting time. If you ask them unsuccessfully, I definitely do not continue to follow them. Because the longer time you spend, the lower success rate is. I can not invest my limited-time beggar to waste on these guests, while I can turn right to the next target.

God, this beggar’s mind is so genius, he analyzed as if he was a business director or marketing director.

-Keep going on! – I’m excited.

– Someone told me beggar have good or bad luck, but I do not think so. For example, if you meet a handsome young man and a beautiful woman in front of a cosmetic lingerie shop, who do you choose to beg?

I thought and said that I do not know.

– You should go to ask for the money of that man. Because standing beside him is a beautiful woman, he probably would not ignore you. But if you ask the beautiful girl, she will pretend to scare you and walk away.

Let me give you another example: One day, standing at the door of BigC supermarket, there was a young girl holding a purse bought from a supermarket, a couple eating ice cream, and a guy dressed up as a business man with laptop and carrying case. I just looked at them for three seconds, then would not hesitate to walk straight to the girl asking for money, the girl gave me two dollars, but why I only ask her for money.

As you can image, the couple were eating, so they did not pull the wallet for the money. The business man looks very rich, but he may not have money available except digital cards. The girl is potential because she had shopped at the supermarket and she would have available money.

That’s so incredible, the more I hear the beggar, the more I respect him.

– So I say, knowledge determines everything! I heard my boss say this many times, but this is the first time I heard a beggar say this.

– You also have to bring your knowledge out. Learning new knowledge makes people smart and smart people will never stop learning new knowledge. In the 21st century, we need talents. One time, there was one person who gave me 50 dollars, asking me to stand under the window shouting, “Alice, I love you”, screaming 100 times for him to propose his girlfriend. I calculated a 5-second call would be the same time I go begging once, but the profit was only 50 dollar, lower than begging, so I refused.

Here, generally one beggar a month can do begging a thousand or eight hundred times. Those lucky enough to get two thousand times. The population here is about three million, so that I have about ten thousand other beggars as my competitors. Therefore, my income is stable. Basically, whether the world economy goes up or down, my work is stable with not much fluctuation.

– Oh my goodness! I’m impressed

– I used to say I was a fun beggar. The other beggars are happy because they get a lot of money. I often tell them it is not true. Because we are happy, we will be able to get a lot of money.

– Exactly right!

– Beggar is my career so that I have to understand the joys of my work. When it rains and few people will be on the street, the other beggars get angry. Do not be so, take advantage of that to feel the beauty of the city. At night I took my wife and children to go out to see the night sky, we talk to each other, sometimes go to meet colleagues. I can also throw a penny to them, to see them happy, look at them like seeing myself.

– You also have a wife and children?

– My wife is at home as a housewife, my child goes to school. I borrowed money from the bank to buy a small house in the suburbs with payment gradually in ten years. I still have six years to pay off. I have to make money, my children have to study in college. I will let him study Business Administration, Marketing, so my child can become a better beggar than his father.

I blurted out:

– Grandpa, do you accept me as a disciple?

 

 

– Đăng Đăng –

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