- Joined
- Jan 28, 2023
- Messages
- 26
Rep Bank
$295
$295
User Power: 88%
Hello There, It's another day to practice CENTS by taking a shot at another productocracy Idea.
I will keep doing this for at least a week until I get a hang out of It. However, I won't take It so far as to make It an action-faking method. Let's begin:
Today, in the shower, I began to think about methods to skew Electronics Repair Services. You see, in my country, the economy is still among the ones with the most inflation, suffering from "Hyperinflation", which happens when prices go up every month and the money loses Its value at a steep rate. Thankfully, worse times have passed and now we have adapted the US Dollar as an unofficial currency.
Despite this, electronic appliances such as fridges, microwaves, blenders, TVs, etc, are still really expensive. For example, in the past month, we bought a single-door fridge for 640$, while monthly salaries range between 100-200$
It's because of this, that most people prefer to call a technician to fix their appliances. Here is where the Skewing opportunities come, as there are lots of problems when It comes to hiring someone to fix your stuff.
1.- Contacting Them: All the people I know look for technicians by asking other people. It is kinda like "The cousin of the sister of the husband of my neighbor knows someone who can fix It" This makes It a real pain in the a$$. If I make a business that people can easily contact through social media, then I'll have a skew.
2.- Knowing If they are trying to screw you: Sadly, most professionals here carry a mindset of "If they don't know I'm screwing them, It's ok", so they resort to dirty tactics such as taking advantage of people who don't know much about electronics, telling them problems are much worse so they can charge them more for It, either that or that they'll buy "original" replacements, then using a third to buy a cheap, generic piece. Hell, they even use replacements that they took from other appliances. Then, If I can make clear from the beginning that we're trustworthy, that's another skew.
3.- Not looking professional: I know dressing like a technician doesn't make you a technician. Yet, in today's society standards, we tend to pay more respect to those who dress the part. Sometimes you might have to fix things in dirty places, so I'm not asking you to wear a suit and a tie, but just have something that identifies you as a professional, like your equipment.
4.- Not fixing things properly/lacking the right equipment: If you take a look at 10-year-old appliances here, you'll surely see fridges and A/Cs that look like they belong to Frankenstein's house. They are an amalgamation of "improvised" techniques to fix a problem and lazy technicians who didn't want to spend an extra hour doing a good job. This detracts from the visual aspect of your devices and makes them more prone to get damaged again. Guaranteeing that everything will look as clean as on the first day is also another great skew.
5.- Keeping shit for more than a week: Another thing that bothers many people is the fact that If you decide to take something damaged from your home to an electronic repair shop, you'll probably see It in 2 weeks or a month, a period during which you might not know If they're taking pieces from your blender and using It to repair others. That's why, another great point will be a policy of "We do It in 5 days or we return It as It came."
In short, the stronger skews I can apply are customer service, convenience, trustworthiness, reliability, professionalism and offering guarantees. Now, according to the CENTS analysis:
Control: There won't be a problem with It. Clients are the boss and the only decision that would make things harder is If all stores decided to close at the same time.
Entry: Repairing things isn't easy, as advanced problems require things like checking schematics, troubleshooting, and measuring lots of things. You also need to have the right equipment and be conscious of the dangers of working with power systems, which might scare many people off. So I'll say It has relatively high entry barriers.
Need: As I've said before, most people aren't willing to spend three months of work on an electronic appliance, so the need for someone that can repair what they have will only grow.
Time: You got me with this one. If I try to work on my own, I'll be limited by the number of clients I can handle in a day, that is unless I hire other technicians in the future.
Scale: If I want to reach a TAM of at least all of my country, I'll have to create a franchise and spend lots on capacitation programs and personnel, so yeah, It will be hard.
This way, I can say that at the beginning, I'll have CEN, but If I don't scale It won't be different from a 9-5 job.
Thanks for reading!
I will keep doing this for at least a week until I get a hang out of It. However, I won't take It so far as to make It an action-faking method. Let's begin:
Today, in the shower, I began to think about methods to skew Electronics Repair Services. You see, in my country, the economy is still among the ones with the most inflation, suffering from "Hyperinflation", which happens when prices go up every month and the money loses Its value at a steep rate. Thankfully, worse times have passed and now we have adapted the US Dollar as an unofficial currency.
Despite this, electronic appliances such as fridges, microwaves, blenders, TVs, etc, are still really expensive. For example, in the past month, we bought a single-door fridge for 640$, while monthly salaries range between 100-200$
It's because of this, that most people prefer to call a technician to fix their appliances. Here is where the Skewing opportunities come, as there are lots of problems when It comes to hiring someone to fix your stuff.
1.- Contacting Them: All the people I know look for technicians by asking other people. It is kinda like "The cousin of the sister of the husband of my neighbor knows someone who can fix It" This makes It a real pain in the a$$. If I make a business that people can easily contact through social media, then I'll have a skew.
2.- Knowing If they are trying to screw you: Sadly, most professionals here carry a mindset of "If they don't know I'm screwing them, It's ok", so they resort to dirty tactics such as taking advantage of people who don't know much about electronics, telling them problems are much worse so they can charge them more for It, either that or that they'll buy "original" replacements, then using a third to buy a cheap, generic piece. Hell, they even use replacements that they took from other appliances. Then, If I can make clear from the beginning that we're trustworthy, that's another skew.
3.- Not looking professional: I know dressing like a technician doesn't make you a technician. Yet, in today's society standards, we tend to pay more respect to those who dress the part. Sometimes you might have to fix things in dirty places, so I'm not asking you to wear a suit and a tie, but just have something that identifies you as a professional, like your equipment.
4.- Not fixing things properly/lacking the right equipment: If you take a look at 10-year-old appliances here, you'll surely see fridges and A/Cs that look like they belong to Frankenstein's house. They are an amalgamation of "improvised" techniques to fix a problem and lazy technicians who didn't want to spend an extra hour doing a good job. This detracts from the visual aspect of your devices and makes them more prone to get damaged again. Guaranteeing that everything will look as clean as on the first day is also another great skew.
5.- Keeping shit for more than a week: Another thing that bothers many people is the fact that If you decide to take something damaged from your home to an electronic repair shop, you'll probably see It in 2 weeks or a month, a period during which you might not know If they're taking pieces from your blender and using It to repair others. That's why, another great point will be a policy of "We do It in 5 days or we return It as It came."
In short, the stronger skews I can apply are customer service, convenience, trustworthiness, reliability, professionalism and offering guarantees. Now, according to the CENTS analysis:
Control: There won't be a problem with It. Clients are the boss and the only decision that would make things harder is If all stores decided to close at the same time.
Entry: Repairing things isn't easy, as advanced problems require things like checking schematics, troubleshooting, and measuring lots of things. You also need to have the right equipment and be conscious of the dangers of working with power systems, which might scare many people off. So I'll say It has relatively high entry barriers.
Need: As I've said before, most people aren't willing to spend three months of work on an electronic appliance, so the need for someone that can repair what they have will only grow.
Time: You got me with this one. If I try to work on my own, I'll be limited by the number of clients I can handle in a day, that is unless I hire other technicians in the future.
Scale: If I want to reach a TAM of at least all of my country, I'll have to create a franchise and spend lots on capacitation programs and personnel, so yeah, It will be hard.
This way, I can say that at the beginning, I'll have CEN, but If I don't scale It won't be different from a 9-5 job.
Thanks for reading!
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Last edited:
Membership Required: Upgrade to Expose Nearly 1,000,000 Posts
Ready to Unleash the Millionaire Entrepreneur in You?
Become a member of the Fastlane Forum, the private community founded by best-selling author and multi-millionaire entrepreneur MJ DeMarco. Since 2007, MJ DeMarco has poured his heart and soul into the Fastlane Forum, helping entrepreneurs reclaim their time, win their financial freedom, and live their best life.
With more than 39,000 posts packed with insights, strategies, and advice, you’re not just a member—you’re stepping into MJ’s inner-circle, a place where you’ll never be left alone.
Become a member and gain immediate access to...
- Active Community: Ever join a community only to find it DEAD? Not at Fastlane! As you can see from our home page, life-changing content is posted dozens of times daily.
- Exclusive Insights: Direct access to MJ DeMarco’s daily contributions and wisdom.
- Powerful Networking Opportunities: Connect with a diverse group of successful entrepreneurs who can offer mentorship, collaboration, and opportunities.
- Proven Strategies: Learn from the best in the business, with actionable advice and strategies that can accelerate your success.
"You are the average of the five people you surround yourself with the most..."
Who are you surrounding yourself with? Surround yourself with millionaire success. Join Fastlane today!
Join Today