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FEATURED USER Walter Hay, Imp/Export Extraordinaire (Vandalay Industries)

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Walter Hay

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Sep 13, 2014
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I saved that $47 out of the paltry wages my employer paid me while for 3 years I doubled sales on a compounding basis. Household overheads were paid through the system of putting coins in a number of jars under the kitchen sink, so that we could be sure to meet those essential bills.

My employer had repeatedly promised a raise, but it didn't eventuate until I chose and appointed an extra salesman to help me handle the ever-increasing number of customers. When I presented my first choice after interviewing 32 applicants, the MD agreed that he was by far the best.

Negotiations began and the novice candidate was offered exactly the amount I had been receiving for over 3 years. I said nothing, and after a few hours I was called into the office and told they would now pay me an extra $20 a week because of my new responsibilities.

I just smiled and thanked him, but I already knew what I wanted to do. The straw that broke this camel's back was the appointment of two more men.

The first one was to be a sales representative for an interstate office that I had set up. He was paid 50% more than I, because he had impressive letters after his name. His sales were close to zero, so he was promoted to product development where his chemical qualifications would supposedly benefit the company.

About the same time, in order to obtain much needed money for the expansion I was causing with so many sales, they appointed a director with plenty of cash. He was a soap salesman (Sales director of Colgate Palmolive), and wanted to teach me to sell. That was IT!!! I resigned.

Then, after being in the wilderness for a year, unable to get a worthwhile selling job because I had no letters after my name, I started my own business because I knew how to greatly improve some of the chemicals I had been selling succesfully.

The cupboards were nearly bare, and so was the bank account, but by a stroke of luck, without a credit rating, I was able to negotiate a monthly account with a huge chemical raw materials company, because the sales manager was a neighbor.

Using a large sample from that company, I sold a 44 gallon drum (bearing my label) by demonstrating as already described to a manufacturer. My gamble paid off. I thought that product would fix a serious problem that I knew existed - and it worked!

The profit fed the family, paid some bills, and enabled me to pay the supplier. I immediately set out to blitz the industry with that product, and made numerous sales by demonstrating it. In the process I discovered other problems for which there seemed no solution, so I started experimenting and came up with formulas that worked.

An exporting empire was born.

Walter
 
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