Is everyone rich ?

[Harry101]

I posted a few days ago in another thread - but I find it strange that no one is looking at other opportunities when presented . Not only during these Covid times, but in general people are are just uninterested to explore what else is out there. A few years back I co-founded a webstore and every query was investigated. Every lead was followed up. But it seems it isn't the norm.

About 3 years back I brought in a consumer electronic product and approached guys to sell. I contacted one particular online store (in existence today) about stocking it - and was ignored. I followed up a week later and received a 'Thanks. We'll check it out. Good luck though' and never heard from them. After a weeks I approached another online retailer who stocked it - and caught the attention of an international retailer who tracked me down. So far, R40m+ worth of business between the online/retailer over the the last few years.

I have another brand that I wanted listed in a few retail stores. I emailed a number of them and not a single one got back to me.

Are people really struggling as much as they say they are ?

[adrianh]

Nobody bothers with emails. 99.99% of emails are SPAM so everything is ignored.

Another thing is that companies don't like stuff that is also sent to all their rivals and posted on Facebook etc - Why would they respond to a message that was mail bombed to everybody in the industry.

We now live in a world where its boots on the pavement - if you want to get the attention of a buyer then you have to go and show them in person.

I also think that companies don't like the idea of having to deal with a middle-man (i.e. a person that makes an introduction and then sits back smack bang in the middle and makes demands). Kinda like a two big dogs not being able to eat the bone because a little dog sits in the middle holding on to the bone store locker key for dear life.

I think that companies would say that if the products were as good as you say they are then why are you not getting venture capital and running with it yourself. If you succeed they would be happy to buy you out.

Again, this isn't personal, its just my personal views on the matter.

[Harry101]

Fully and 100% disagree with you on every point

https://mg.co.za/business/2021-02-17-small-business-owners-closing-shop-and-feeling-the-financial-squeeze/

https://businesstech.co.za/news/business/455100/lockdown-forced-nearly-half-of-small-businesses-in-south-africa-to-close-study/

https://businesstech.co.za/news/business/509410/nearly-1000-businesses-closures-in-south-africa-in-the-first-half-of-2021-these-are-the-industries-most-affected/

I wonder how many of these followed your advice and wanted to play stubborn?
I wonder how many of these companies didn't explore other opportunities ?

Not personal either, but my own personal views.

[Harry101]

https://keap.com/resources/how-to-sa...small-business

70 percent fail because they don’t recognize, or accept, their weaknesses and don’t seek help from others

I've seen it over and over. The owners 'know' best and although they're dealing the public, they don't actually listen to what the public is saying . They refuse to adapt, they refuse to explore and they feel they know best.

My first post is saying :

Don't ignore everyone , advice, help, opportunities - and then then cry when your business eventually fails / declared bankrupt

And btw, this isn't about my product - It's been under a year and I'm doing 1,000si n a month. I'd like to accelerate those sales and get into a Partnership with certain people to assist, but if no one is keen to explore ... then it is what is is. I'll keep looking.

[Justloadit]

It is the same thing with an idea, its not worth the thought, unless a huge amount of capital is invested in firstly R & D, then producing, then a huge amount of money required to market to get the sales.

Most with capital, are not interested in investing in the 'baby' they rather buy the fully grown and 'trained adult', at this point, it is a sure thing.

Another observation, is that most companies, lack vision, and can not see the wood from the trees, a good example is IBM and personal computers.

On a number of occasions I have been so far ahead of the head lights, that no one can even see me.
A few examples, in 2004 and I was the first one to manufacture a handheld terminal which made a real time 128 bit encrypted transaction through a wireless connection using GPRS and would use approximately 500 bytes of data. I ran around to almost every one I could get an interview, and I just could not get a buy in. The amount of data used was important, since data bundles was R50 a megabyte then.

Today this is ubiquitous, every one with a wireless connection is making real time transactions.

Another one, in 2005, we had a complete tested platform to do real time financial transactions using a wireless communication, in those days it was GPRS, tried again at getting a buy in, but could not get any one to make the move. To do financial transactions you require a license, unfortunately we were not legible to get one, the only buy in we got was a fellow, who supposedly had a special license, after signing contracts and spending money, it went no where because it was a farce. Today it is ubiquitous on any device which has a wireless connection.

We did invest in the R & D, we did invest into manufacturing, and producing ready made operational products, but we just could not get the buy in.
So why did it not sell?

The main issue at the end of the day, is that when you are the first with new technology, you spend all your time and effort explaining how the technology works, and this means that you teach other people to be your competitor.

[adrianh]

The main issue at the end of the day, is that when you are the first with new technology, you spend all your time and effort explaining how the technology works, and this means that you teach other people to be your competitor.

There is a difference between you and the original poster - YOU are a highly skilled technology company that understands and develops technologies. The original poster is a middle man that tries to get others to adopt technologies developed by third parties.

Here is a perfect example of how a company got it totally wrong because they bought into a technical market without the technical skills required to even understand the basic underlying issues.


The HD-VMD story - The format that lost to the format that lost

https://www.youtube.com/watch?v=07Z4iL8hy1A

My finance friend always says this "You have to understand exactly what you are busy with" - generally one cannot do so if you are having to work through a middle man - the middle man has to play both sides (which is fine if it is Toshiba but not so much if it is John Smith that found an interesting product on the internet)

[adrianh]

It is the same thing with an idea, its not worth the thought, unless a huge amount of capital is invested in firstly R & D, then producing, then a huge amount of money required to market to get the sales.

I don't know if you subscribe to a channel on YouTube called "Forgotten Weapons" - I'm not into weapons per se - The presenter, Ian McCollum, is absolutely brilliant and I just find the technical details fascinating because there as so many design issues that have to be dealt with in a very compact, safe, reliable and maintainable manner. There are many videos about the issues related to getting weapons in production. He shows how and why prototypes often work well yet production weapons take years to refine.

The M1 Garand's Mysterious 7th Round Stoppage

https://www.youtube.com/watch?v=s5V_qIZEOUg

[Harry101]

.

I actually don't think you know what I do or how business works ?

No disrespect intended .

Do you understand a supply chain and how it works ?
Do you know how products flow from a factory through to an end user ?

We're getting off topic - but my original post is that a business that doesn't communicate to it's market and is unwilling to amend it's own practices to stay afloat, can't really complain when they're eventually forced out of the market / forced to shut it it's doors.

[Harry101]

I was the first one to manufacture a handheld terminal which made a real time 128 bit encrypted transaction through a wireless connection using GPRS and would use approximately 500 bytes of data. I ran around to almost every one I could get an interview, and I just could not get a buy in

So this closer to where I'm coming from.

As you said, no one would pay attention no matter how much you tell/show them it'll benefit them / how they'll have a competitive edge etc . They're just unwilling to adapt and do things different. I suspect that if one of those companies shut down a few years later, you'd probably also think 'you just should have just given me a chance ....'

As I said in my post, I approached a semi-small online store with 'you have to list this!' - and was just laughed at. A few months later I just went with the biggest online store and biggest retailer to stock the same thing - and 3 years later we're sitting at R40m sales. If the 1st store shuts down I'd be upset for the staff - but at the end of the day, they should rather give new ideas a bit of a look.

[Harry101]

Here's an example of a company that wouldn't listen and quit stuck in their ways

https://www.inc.com/minda-zetlin/netflix-blockbuster-meeting-marc-randolph-reed-hastings-john-antioco.html

"There are times when you look back on your career and all you can think is: "Oops. I really screwed up that time." You have to assume that's what former Blockbuster CEO John Antioco says to himself every time he remembers a meeting he had in Dallas in September 2000--and every time he streams a movie to his TV."

[adrianh]

Here's an example of a company that wouldn't listen and quit stuck in their ways

https://www.inc.com/minda-zetlin/netflix-blockbuster-meeting-marc-randolph-reed-hastings-john-antioco.html

"There are times when you look back on your career and all you can think is: "Oops. I really screwed up that time." You have to assume that's what former Blockbuster CEO John Antioco says to himself every time he remembers a meeting he had in Dallas in September 2000--and every time he streams a movie to his TV."

And likewise there are millions that failed because they chased after somebody else's dream.

[Blurock]

Interesting thread. Deja Vu.
Invested my pension into a quality product to replace imports. Could not get funding because people (Banks & Finance houses) did not believe that we could do what we said we would. Govt over the moon with the product but have not received one cent in spite of BEE. Got into bed with the wrong shareholders but in the end we have a business that is now well established and part of a listed entity (another mistake?).

Changed course and now have even more innovative products without the burden of shareholders, exploiters and crooks. I have a very good relationship with my suppliers which are giving the most amazing service. I am now collaborating with customers and suppliers to supply a variety of products and are signing up new customers on a regular basis. We are never too old to learn.

[adrianh]

Could not get funding because people (Banks & Finance houses) did not believe that we could do what we said we would.

The difficulty for banks and finance houses is that they make decisions based on math (by their very nature) - not faith. Another issue is that they are faced with hundreds of people all the time who have great, and not so great ideas.... so they get to pick n choose. Banks want to make money like everybody else so they are not going to put their money at risk.

The one thing that life has taught me is that you DO NOT want dependencies nor partners - Nobody gets stabbed in the back by their enemy....their friends maybe... but their business partners will look them in the eye while stabbing them in the neck....

[Harry101]

.

That website I mentioned earlier ?

People had told me not to go in with friends, but as I knew the friend 35 years I thought I'd go ahead. Web site did well for 2 years but then all collapsed. So, I've decided that should I want to do anything, I rather do it myself than rely on others .

[Harry101]

@adrianh Of interest, when you walk into Makro and see the products on their shelf - do you know how they got there ?