Oct
Show No Mercy
Show No Mercy because none will be shown to you. Hustle is cold as night, cold as the arctic and colder than space. Since money is the reward for your Hustle get prepared for those without any morals. There will be people who will lie on you, sabotage you, hold money from you, and overall prey on you being understanding and fair. You have to develop a separate mentality towards your personal life and your Hustling life. One cannot be mixed with the other and you need to constantly reinforce the consequences of crossing you when it comes to the receiving of your money.
Once your Hustle is in full swing you will develop good and returning customers. The Customer will start to believe you are friends, and if so you have done a great job in making them comfortable. As a result of this they will start to ask for payment extension, they will start feeling entitled to free gifts and will start to ask for you to lower your prices. The Customer starts to lose sight of their true value as they become more and more consistent with their business with you. The Customer cannot see that their one sale is not going to pay your rent, your car, and your house, but they aren’t supposed to. Sooner or later the Customer will decide to short pay you or ask for credit, this is the first warning sign and you must be ready.
Stand your ground! Most Suckers extend so much credit that their kindness destroys their Grind. The Sucker believes in the Customer while the Hustler focuses on the money. The Hustler must look at the transaction and find out what is the critical point of the Hustle that the Customer must have. The Hustler must keep this information in their mind at all time and be ready to snatch away the product at the right time. The Hustler might extend credit, but they will be ready to cut their losses. The Hustler will let the Customer know the money is due and give a slight warning. The Hustler must set the time when they have had enough and must cut the Customer off completely. The Customer of course will be mad and wonder about all the good will they built up, but good will isn’t going to pay for anything in this world. If you execute this properly you might lose a little but you won’t lose a Suckers share if you believed the words of the Customer.
BottomLine: If someone is going to hurt let it be them!
Popularity: 23% [?]
This was a good reminder. Thank you.
I was just talking to my Mom last night and she was telling me about employees that I would have to hire. Even though I know this is kinda off the topic, but she was just telling me that once I start my own buisness all my troubles won’t miraclously disappear and everything is going to suddenly be all happy happy happy!
What she was saying to me is I will have screen people to see who I could trust and who can do the job. Pretty much this applies to employees too!
hey free!!!
lol @ the guy beating up the man in the wheelchair.
hopefully this won’t be my problem when i go into business. i have such a soft spot for people and when i think of selling things, i try to make things reasonably priced for my customers and my whole thing when dealing with ANYone is to be fair but while i’m tryna be fair, others will probably be thinking of how to get ova. damn shame
Hi Keisha
I agree with you. That’s why I know I have to keep my charity side separate from my business. I can still keep my soft side and but still know how to be a B too LOL.
When I started in the rental property business, an old guy told me “if you can’t put a pregnant lady out on Christmas day, then you don’t need to be in this business”. At the time I thought that was a bit harsh, but I understood where he was coming from and hoped that I never had to make that call. Then one December I had to evict 3 families who made the stupid decision to spend up their rent money because it was Christmas time. Their asses were homeless for New Year’s.
Friends of mine who weren’t in that business told me how f*cked up that was that I put them out around Christmas. But I just reminded them that the mortgage still had to be paid by me, regardless of whether or not I received rent from those deadbeats. On top of that, doesn’t my family deserve to have a nice Christmas also? Which they wouldn’t if I had to spend all of the money that I would have spent on their presents to essentially support someone else’s family.
Never for get you’re running a business and not a charity.
@Freedom – I’ll tell you how I hire people. I pick people who on paper don’t deserve it but were willing to take the chance anyway. My best employees were people who worked hard and had 3 jobs but could never get the big break. Once I gave them the break they were looking for they would kill anyone who came against me and the company. Everyone I hired was not qualified for their position but I could spot hustle and determination because I saw it in myself. So I have had a pretty good record of choosing people who want to work instead of those who feel they are entitled to money!
@Keish – You have to get rid of that soft spot when it comes to money. I’m telling you this because I was the same way when I first started. So I want you to concentrate fully on making money and not make my mistakes of showing mercy. Either they have it or they don’t and that’s how you have to approach money. Depending on how fair you want to be you’ll lose it all. It ain’t Fair when you’re Broke so you better make sure you aren’t that Fair!
@Freedom – It ain’t about being a B! It’s about sticking to the bottom line when it comes to money. You sell at this price and you want this money. So you don’t have to be angry it’s just the way it is. The more your company deals with customers the more this will be a problem. But no one goes into McDonalds and asks them to lower the price, No one goes into Best Buy and negotiates the price. You have to think of yourself like them and not like they are dealing with someone at the flea market. What part of the game is accepting less money?
@Carl – That is cold but I can understand! The businessman never gets the benefit of the doubt when it comes to being crude about chips. It’s like the way they treat NBA or NFL players. Everyone looks at them as selfish but no one ever analyzes the owners and how stingy they are. It’s all about the perspective of the person looking at you. If they ran a business they understand if they are a Customer then they think you are cold!
@FreeMan, Re: your response to Freedom; I get your point as a general rule. But people often forget or just don’t know that nearly anything is negotiable. Especially in retail. Every store has some kind of un-advertised “manager’s special” or whatever they may call it. Which is some measure of discount that the store can give you if you ask for it. Trust me, I’ve actually done it on several occasions. The bottom line is, just ask the manager, not some cashier; although at times they can give you a discount too. The worst they can do is say no
@Carl – I can concede to your point but even still you are looking for the person who can actually make the discount. In most businesses the person who has that power is not the cashier or your server so it is rare. I always call it the difference between a service and a business. A service is usually negotiable while most business on the retail level try to be set in stone, especially a corporate franchise.
I don’t mean it as the 100% rule but how about 85%!
Thanks for sharing how you hire.
Hey, I’m not talking about being angry when I say being a B! It’s the perceived coldness that one puts on a person when ain’t playing around and mean business about what they’re doing or trying to do. No, I won’t get angry but I will let whomever know that I mean buisness in a tactful, but firm way.
@Freedom – Who cares what most people think just run the business. No one likes to pay for anything so since you are entering into business this is the lay of the land. This is why everyone hires customer service people who have to take the bullets on the phone because they know if they said I’m not budging Customers will get mad. So instead they tell a nice sounding person to tell you no deal so you can hate them instead. The people up top are crafty!
Indeed they are LOL!
The worst move many businesses made was in developing those “Miles” cards.
I used to work for a chain whose policy was to give away three to five free tabs to customers every night.
When they introduced the “Spend $100 get $5 back” policy – people started expecting the hook-up.
The first policy created an unexpected surprise for paying customer, the second created customers who were always looking for a hook-up.
The chain has since scaled back their rewards program.
As far as being a slumlord; My grandmother used to always say, “If you can’t pay one month, you can’t pay two.”.
And she was right.
@Freedom – I laugh because most of your so called intelligent people can understand the most complex things but they still fall prey to those who understand the tendencies of humans!
@UBJ – I agree the smartest companies seem to have you playing Monopoly all day while buying Big Macs while the lesser evolved companies think giving discounts will bring more people in. I often wonder why people don’t copy off of what seems to work for others but instead they invent crazy money back incentives that seem to cause them to lose money. How many banks give you 20 bucks to open a checking account but soon realize no one really keeps any money in there. The people with real money probably don’t give 2 ishs about 20 bucks.
Real estate owners just get a bad name because it’s part of food clothing and shelter. Those 3 essentials if cut back make people lose their stability. So I don’t know how you can be a good guy when you have LordShip over their life. I don’t know if anyone with Lord as their title is going to get a fair shake when it comes to protecting their money and investments.
When I was at Sprint, the first thing they told us during orientation was not to engage in “gold-plating” to appease customers. Their reasoning was it is poor business thinking to make nice trying attract/retain one customer when you supposed to be in business to attract/retain tens of thousands.
I never forgot that phrase “gold-plating” when I heard of it…
@Ed – Yeah I have to add Gold Plating to my vocabulary. I think the way they explained it is exactly my point of view. Why spend more than one second trying to keep one instead of doing your best with the thousands you got. Most of the time the one who negotiates everything is a arsehole that can never be satisfied.
I get a lot of people negotiating with me and I usually say my number. They always tell me someone else is doing it for a cheaper price and I say the best business move is to go with them. Now they usually come back and accept my price but if I let them negotiate they would keep going down down down. Sooner or later you have to say this is what the service is worth and hold your ground.
I had a band manager tell me that they never do anything for free because then that is was people will think their service is worth ($0).
Always charge – the amount of money and time spent trying to collect is up to you.