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As a business,you have no other options but smart alternatives

As a business,you have no other options but smart alternatives




 As an entrepreneur or a business,you always have challenges,you may even have crises,and what do you do?


Try to overcome them? That is not enough most of the times,what is more efficient is taking advantage of the problem/challenge at hand,not just overcoming it.

I'll give you a great example that should be inspiring for you,and would let you get it immediately.

So I live in Egypt,and as Egypt is now making great effort to uprise,the government had to take additional fees and taxes to be able to build new cities, utilities,roads and a whole new infrastructure.

So what happened was that they applied something called (VAT) which is a value-added tax.

It was almost applied on all products and services,one of them was the phone's credit recharging cards,so it become exceptionally expensive to recharge your phone's credit.

After adding the VAT,you will have to recharge with 100 Egp "Egyptian pounds (6.25 dollars) you'll need to pay nearly 145 Egp (9.06 dollars)
So you pay much more than the credit you actually received.

After this happened,most people quit recharging their credits,and stopped buying recharging cards except when very needed,so the 4 companies operating have to apply a radical change,to overcome this challenge and even benefit from it.

They made a very very very simple action,yet is a very very very very intelligent one.

People used to pay as an average around 50 Egp/month for recharging their phones,but now they might spend far less than that (not because of money mainly but because you feel that you're paying much for less)


They made a radical change,instead of paying all at once,why can't we divide it on multiple times?

You might have a problem to pay 50-70 Egp at once,but you definitely dont have any problems with paying 5 Egp each day (0.3125 dollars)

So they made a mini card which gives you enough minutes and megabits for the day,and it's quite convincing because paying 5 Egp a day is nothing.

So now there is also an issue,that you might not recharge it everyday,so you'll end up paying less than you used to do,right?

They solved this problem by doing 2 things:

1)Make the card finish automatically after 12am,so it's valid only for the day and it vanishes when it's 12am.

2)To make you recharge everyday,they made a feature that you could get the rest of your unused units from the last card,for example if I used only 120 of the 190 units provided,I lost 70 units,if you recharge next day (which you'll probably do anyways because you'd have no balance after 12am) so if you charge the next day you take the unused units of the previous one.

So they ended up getting from a user 150 Egp/month (9.35 dollars),this same user before doing this change used to pay only 50 Egp/month (3.25 dollars)

So as a conclusion they turned the real challenge that has formed a great threat for the companies and the whole business,they turned it into a great opportunity which made them collect 3x the revenue they used to get,could you imagine this??


I hope that this wasn't so long,I tried my best to make it short but at the same time I wanted to deliver the whole picture,so you could use this as an inspiration,and as a new way of thinking.

Hope this was helpful,I wish you great success in life and business,and thanks for your precious time.

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