Being mysterious: do you want to share a secret?

Nation building via learning and being the best in business

  Air of mystery (do you want to know a secret?)

       In sales platform, they sell mystery boxes and many fall for this.

      People go for mystery and intrigues and hence the prevlance of such shows novels and books

      We want to be kept on edge and be in the world of mystery and unknown.

     Hence the 11th missing herb for KFC, the secret formula for Coca Cola

     Hence in ads, dont reveal all.  Leave something for imagination   

     Make it a striptease.  Dont go for full brochures but fliers or ads that are teasers asking customers

     to want more.

    But personally I find the ads that asks something in return for more info more annoying especially

    if the competition is high.   Some companies are not so domanding.

   What do you do with your ads?   Selling benefits before mentioning price is a way of putting mytery

   in your presentation

      

     

Dam Management - Save for a rainy day

Ateneo Professor on Entrepreneurship

Rizal Philippines
July 21, 2019

Attributed again to the founder of National  Matsushita.

Prepare for the unforeseen;  have contingency planning.  Anticipate that things could go wrong and set up system to address the possible difficulty.

1. Have cash in excess of your usual requirements so that you will not scrounge for cash to finish the project.  Keep secret cash hordes to get you by in times of crisis.

2.  Have extra staff as back up  in case somebody gets sick, or leaves.

3.  For your working capital requirements:   have cash

    1. For your usual operating expenses;

   2. Have reserve in case your payables comes due and the receivables are not paying.

   3.  Have extra cash in case the tax men suddenly comes in and ask you to pay.

   4.  Have insurance for fire and other calamities

4.  Have redundancy for your critical machinery.  Have a back up especially if they are imported.  A downtime will severely affect your outputs