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- Feb 7, 2023
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Hello! It's finally the first time that I found the courage, or better said, I have found the motivation and reason to start doing something and write about my life. I have finally decided to take responsibility for my life, and this post is the proof.
First, I will give just a short introduction of myself, my family, situation and values, as to understand my point
I have grown in an above-average financially family in a city in Romania, Eastern Europe.
When he was rolling high, he was spending huge amounts, and got into the spending spree of a rags to riches story. He was and still is very practical and resourceful, but he lost his momentum at some point. Due to some bad financial decisions, social decisions etc, my father has gotten into big amounts of debt and started to crumble several years ago. This is, in my opinion, important, because he moved away in a bigger city when he was making the monies. In this spending spree, he ended up buying a big restaurant back in his hometown, which he didn't necessarily invest in for a number of years (not being in that location, it was hard to do that). Mostly, he bought it for opulence. And that's the idea that I want to get to.
Fast forward a few years later, he decided that the best strategic financial choice is to re-open to long forgotten restaurant (which was now a warehouse mostly) and thus he started investing in this landmark. But, the people around the area (being a small town in a post communist country) were still seeing him as an opulent spender, coming back to his hometown just to brag.
Now, a few years later (to the present day) he still invests money in this place, even opened a new place (which doesn't really amount to the ROI that would be necessary to get the money back in this lifetime). Basically, overkill in a business in an area that has little money and with potential customers that don't go there to not 'make more money to the already rich guy'.
Now, I know this is all a very subjective story, and for sure this isn't the only reason there is. But still, I want to keep all these in mind and ask here, is it possible that with good marketing strategies, to change this outcome of an iminent failure/foreclosure, in theory. I know this is just a bit of the story, and it's hard to actually assess something like this, but maybe I am asking about ideas. Leads. Proposals.
So, long story short:
- The area does have potential
- Societal culture revolves around small communities of people
- Money is tight in these areas, a lot of factory workers, hard labors, farmers
- Education is minimal (4-8th grade, high school some, very rough for university numbers)
- Post communist country, still having the values of communism instilled as even my parents grew until mid 20s in that regime
-It's already too late to give up, it's kind of a all or nothing type of scenario, and we are closer to nothing right now
The target is to raise the business enough to be able to get a good price on it to sell it entirely, as no one will buy it if it's not working.
My plan:
Increase marketing strategies and online presence to maximum. Quality of products, service and location in general is great (subjective or course, but we also have lots of reviews that praise the quality)
THANK YOU IN ADVANCE to everyone, and to MJ DeMarco for his inspiring books, forum and call to action!
First, I will give just a short introduction of myself, my family, situation and values, as to understand my point
I have grown in an above-average financially family in a city in Romania, Eastern Europe.
When he was rolling high, he was spending huge amounts, and got into the spending spree of a rags to riches story. He was and still is very practical and resourceful, but he lost his momentum at some point. Due to some bad financial decisions, social decisions etc, my father has gotten into big amounts of debt and started to crumble several years ago. This is, in my opinion, important, because he moved away in a bigger city when he was making the monies. In this spending spree, he ended up buying a big restaurant back in his hometown, which he didn't necessarily invest in for a number of years (not being in that location, it was hard to do that). Mostly, he bought it for opulence. And that's the idea that I want to get to.
Fast forward a few years later, he decided that the best strategic financial choice is to re-open to long forgotten restaurant (which was now a warehouse mostly) and thus he started investing in this landmark. But, the people around the area (being a small town in a post communist country) were still seeing him as an opulent spender, coming back to his hometown just to brag.
Now, a few years later (to the present day) he still invests money in this place, even opened a new place (which doesn't really amount to the ROI that would be necessary to get the money back in this lifetime). Basically, overkill in a business in an area that has little money and with potential customers that don't go there to not 'make more money to the already rich guy'.
Now, I know this is all a very subjective story, and for sure this isn't the only reason there is. But still, I want to keep all these in mind and ask here, is it possible that with good marketing strategies, to change this outcome of an iminent failure/foreclosure, in theory. I know this is just a bit of the story, and it's hard to actually assess something like this, but maybe I am asking about ideas. Leads. Proposals.
So, long story short:
- The area does have potential
- Societal culture revolves around small communities of people
- Money is tight in these areas, a lot of factory workers, hard labors, farmers
- Education is minimal (4-8th grade, high school some, very rough for university numbers)
- Post communist country, still having the values of communism instilled as even my parents grew until mid 20s in that regime
-It's already too late to give up, it's kind of a all or nothing type of scenario, and we are closer to nothing right now
The target is to raise the business enough to be able to get a good price on it to sell it entirely, as no one will buy it if it's not working.
My plan:
Increase marketing strategies and online presence to maximum. Quality of products, service and location in general is great (subjective or course, but we also have lots of reviews that praise the quality)
THANK YOU IN ADVANCE to everyone, and to MJ DeMarco for his inspiring books, forum and call to action!
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