STORY.

Getting mugged once was unfortunate. Getting mugged twice was a lesson from the Universe.

It was a miserably wet night at Dalymount Park where Bohs had just beaten Galway United 1-0 and Reilly couldn’t get a taxi quick enough back into town.

It was only then that he noticed his wallet with €100 in it was gone. He’d had it during the match to buy chips at half time.

‘They see the culchies coming a mile away,’ says the Dublin taxi-driver cerebrally.

Reilly swore that it would never happen again and felt as safe as houses in the more salubrious surrounds of Dublin 4 after the Ireland v Italy rugby match a fortnight later.

And yet once again, as he was he was in deep conversation with a sound man he’d met in Doheny & Nesbits, he noticed that his wallet, also containing €100 was gone. Unfortunately this time he also had a watch and an inscribed signet ring belonging to his Father in it. Neither the watch nor the ring had any street value. Luckily he’d kept €80 cash in his back pocket.

He was still fuming the next day as he was walking down Stephens Green when who should sidle up beside him but the sound man he’d been having the craic with the evening before in D&Bs.

Reilly described to him the entire saga and explained that it wasn’t so much losing the money that upset him – it was the sentimental value of losing the watch and the ring. He’d pay anything to get them back.

When the sound man empathised with him and offered to get his watch and ring back for as little as €500, it was then that Reilly heard the lesson from the Universe.

He was in the presence of a professional.

They haggled and haggled and eventually the sound man came down from his high horse and acquiesced to accepting the €80 cash in Reillys pocket.

In return he exchanged a ticket to a Pawn Shop where Reilly could retrieve his watch and ring. 

Although Reilly would later have to pay a further €70 to get receipt of the watch he was secretly proud of the hard bargain he’d driven with the thief.

Reilly was still figuring out what the message from the Universe was when the mugger took out one of Reillys business cards that had also been in the wallet.

‘I see you give business courses to entrepreneurs and have a new Smácht programme starting at the end of March,’ says the mugger. 

‘I’ve checked you out online and I’m prepared to deliver the session on Finance and Profitability for you at a very attractive fee. Your clients can be guaranteed they’ll learn income generating strategies that no business Professor will ever teach and that will generate serious returns for their business.

Reilly didn’t doubt it and signed him up on the spot.

INSIGHTS.

  • Compare and contrast the outcomes of the two muggers. 
  • Mugger number one made a straight €100 cash and will never see his victim again.
  • Mugger number two, applying effective income generating strategies, made €100 on the mugging; €70 in the pawn shop; and €80 selling the pawn ticket back to Reilly. Total income: €250. In addition he acquired a satisfied customer into the bargain who will continue to do business with him for many years and will most likely refer him to dozens more successful entrepreneurs who would like to generate more money. 
  • When you think about it every industry is characterised by their own similar approaches to generating income. For example, most:
  • Retailers advertise in local papers.
  • Manufacturers use direct sales teams.
  • Doctors, dentists and solicitors rely almost exclusively on referrals.
  • Stockbrokers do practically all their business on the phone.
  • And most thieves just mug you, take the money and run for it.
  • But not so the Professionals. They have a unique approach all of their own that maximises profitability and customer satisfaction. They understand implicitly the meaning of value and charge accordingly. 
  • Always be asking for business. The Pro’s do.

QUOTE.

‘You can’t bate the bought experience.’ (It means that it has to cost you to profit from it.)

—John Webb O’Rourke. Serial entrepreneur.

QUESTION.

1. What are the myriad ways you could generate more income?

NEW SMÁCHT COHORT.

Reilly is currently recruiting for a new cohort of Smácht. If you feel you have reached a ceiling in your business and are eager to upscale contact Pádraic at p@omaille.ie or call on 087-2647817. Smácht is a leadership development programme that helps you clarify your vision, commit to a plan, and holds you accountable for achieving that plan. 

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