/biz/ - Business & Finance

>>764084
Note that I will be accompanying my father on his next trip to Shenzhen so any suggestions would be great! Thanks!

>>764084
One of the richest men on earth (formerly richest man in the world) is Carlos Slim.
If you study his story, you can follow hif footsteps and be rich.
In short;
Understand how business works.
Help your father to make your businesses more efficient.
Buy already established businesses and repeat the process.
Good luck

>>764103
So basically, run your business like a cartel and snuff out all competition if your government is super corrupt and allows that kind of thing.

>>764137
>>764103
Thanks for the reply! How do I start doing this exactly?

>>764084
In China, you'll see lots of stuff that is normal there but not really known in the Philipines.

You know how if you go to Japan the toilets and vending machines are amazing right?

I suggest you keep an eye out for small differences and innovations, and try to spot something that will sell well. I think Londoner in Japan goes home daydreaming about putting those vending machines in a Waterloo station.

The Philipines is a great destination country for this stuff, especially when catering to the luxury market. I know a guy there who fits out high spec hotels, and he has a terrible time getting the kit together to make fast filling baths and big power showers.

If I were you though, what I'd be looking for most would be batteries. Brownouts are still common in the rural Phiipines, and a lot of resorts want some kind of backup. If you can source car batteries, and use them to build high capacity UPS for a relatively low price, that could be a really nice option...

>>764147
Thats an amazing idea. I will be proposing this idea to my father as soon as possible. Any other ideas guys?

>>764143

Most self-made millionaires make their first million after the age of 40, largely because they toss around in their 20s looking for different ways to get rich quick. But what it really comes down to is specializing in a given field so that you are able to create more value for your customers than others.

So don't try to look for a dozen gimmicky ways of making a quick buck. Focus on one single product/method that will yield the best return, and then pour thousands of hours into optimizing that enterprise.

And if you don't know how, the natural first step is to learn how. And learning through experience in business can be a costly affair, so try to learn from your dad as much as possible. Alternatively try business books.

>>764163
Can you recommend a good book for this matter?

If you guys were in my situation, what would you do?

>>764180
You're talking to a board of american teenagers.

I had another idea, but you'd have to think about whether it's any good -
There is a problem in rural philipines where richer people have decent android phones, unlimitted mobile data packages, but the links back to the main internet are too slow.
I think there could be a market for a kind of local internet device -

it's a little device rather like a globe wifi dongle, and it talks to all the other same devices in the village.
It hosts files and websites, that you can upload or build easily with a smartphone app (and they are mirrored on the main internet?).
If another guy in the village wants to download Something About Mary and you have it, he can see it. Maybe you could even charge him a small amount through it via phone credit payments?
If you are a barbers and someone wants to book an appointment, they can see the website hosted on your device.
The devices form a 'mesh network' enabling fast transfer within the village without using main internet.
They mirror to the main internet so you can still see the content if disconnected.
This is for rural areas, and the target would be to produce a fairly cheap device.

>>764180
dude ask your father no? hes already experienced and already knows the field you want to work in. also emulate big in the pasts and remember if you go illegal you will ever get caught at a certain point

>>764169

Jim Collins is a great business author

You can start with his book Good to Great
Also other autobiographies by business leaders give great insight.

Ray Kroc - Grinding it out
Akio Morito - Made in Japan

Also learn to sell before anything.

>>764137
Yes. You do whatever to be the riches man in the planet.
Also I smell a sore loser who is using morality as an excuse for being a loser!?!
Check your bank balance. If it shows that you're a loser, change your mindset and you will make it big time my friend.

>>764143
Listen to this guy;
>>764163

Business books could be your competitive advantage. Last thing your father would like to see is that his sun is coming up with wacky ideas from 4chan ( >>764147 ) and thinks he can make millions by them.
Ideas are chip brother. It is all about execution.
As for the books, search for the first subject that you think is your weak link, find the best book in that subject, as you are reading implement at the same time.
Don't wait until you finish the book then implementing.

So what you guys recommend is read books and apply the knowledge learned in my situation?

Shit, I'll bite this.
It sounds like your dad runs a decent sized but by no means a large conglomerate. What you need to do is find something that you'll do for a generation and more. Look at Hyundai. Hyundai started out as a car repair shop 70 years ago. Hyundai expanded their business into countless other shits, but what's their main focus right now? Car. It's that simple. Look at Samsung. Samsung did a gazillion shits too. When Samsung surpassed Hyundai as South Korea's largest company was when they started to focus on electronics. You don't need to find this now. You'll fail a hundred times, but that's fine, you've got money. (But exercise common sense.)
Right now your dad's company sounds all over the place, because honestly I can't really find meaningful overlaps between LED lamp trading, construction and advertising. That's fine. In fact Samsung still does all this and they're all good sized portion of the company. But enough about Samsung. What you need to do is listen to as many people as possible but still formulate your own opinion. You're the leader.

>>764084
I hope you're still here.

I have been looking for this for a long time.

Not only can you get commission from me and your father's upcoming advertising deal, you and your father can help me make us millions from those billboards.

manwiththemail@gmail.com

We'll continue our chat through there. Im 100% serious.

By the way, what are you studying in college? Please don't go into business school, it's filled with people with slave mentality who will do whatever's told to them. That's not how you get wealthy. You might get sorta rich, but won't get true wealth. If you want to get wealthy, you have to call your own shots when it's really important. You can get an MBA, that's fine, but please don't get a BBA.
Go study something really theoretical. Anything in the humanities and hard sciences is fine. Philosophy, history, physics or math are probably the best. Those subjects make you think. Really fucking hard. Stay away from applied discipines, those tend to be filled with mindless automatons although there may be a few exceptions

>>764229
now i feel like a retard for responding srsly

>>764230
Im getting a degree in Flying to be a pilot but I'm not planning on making it my main source of income.
>>764232
Hi, I'll be sending an e-mail regarding your statement. Will be in touch with you.

Any more ideas guys? I pitched the UPS idea to my dad of buying the units directly from China and selling it here, he seems to show some interest. I've also told him about the possibility of using our spare drivers and cars on joining the Uber service while they're on stand by.

>>764250
Ive got some connections in the Philipines and might have got a great opportunity for you (& your dad)

>>764295
How do you wish to speak regarding this matter?

johnrskie@yahoo.com

>>764234
>Hi, I'll be sending an e-mail regarding your statement. Will be in touch with you.
You are fucktard for taking that bait.
You father should sell both of your kidneys to recover the loss of having you as a son

>>764337
Oh shit. Oh man. I tried I guess.
Thanks for the great replies guys!

>>764389
Mail send

>>764103
Oh, of course. You just need to buy a state owned monopoly in a corrupt country.