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How a restaurant profited from invisible fish!
I only recently realized that bureaucratic "red tape" could be a business opportunity.
Apart from filling in forms, another guy who has made a mint from bureaucratic red tape is British entrepreneur, Duncan Bannatyne.
(He's one of the "dragons" in the British version of the show "Dragon's Den" - equivalent to the Canadian show of the same name, and the American TV show "Shark Tank".)
Last year, I bought and read his book, "Anyone can do it."
He made his multi-millions mostly in areas that had government regulation... Such as nursing homes/aged care homes (at one point), for example.
These are highly regulated in the UK. You have to have a certain number of nurses per resident, certain minimum room sizes, and so on.
Anyhow, he started from scratch, and worked with an architect to design and build nursing homes so that they were extremely efficient with regards to the existing government regulations. Other nursing homes were not generally designed from the ground up to be nursing homes, especially with regards to maximum efficiency relating to the regulations, so they were less efficient (and less profitable).
In his book, if I remember right, I think he said he was getting around a 30% annual return on the money he spent building nursing homes. With that kind of return, he just kept building more and more (until he eventually sold the whole business).
The point was that - the existence of certain bureaucratic regulations meant that other nursing homes were not at optimal efficiency, given the restrictions. However, by paying close attention to the bureaucratic regulations in this area, he could build more efficient (and profitable) nursing homes than anyone else had done so far - and outcompete them on that basis.
(Read his book for more details.)
A lot of successful people seem to mention "tenacity" as a big reason for their success...!
There are some good links there!
With "customer service" going down the drain in some businesses, it's no surprise that "stand in line for you"-type services could become more popular!
(This is also part of what personal concierges can sometimes do, too...)
The short story is, a restaurant (back in the 1920s) wanted to know how to attract customers.
It was suggested to them to put a clear fish bowl (filled with water, but no fish) in the restaurant window.
They put a sign next to it, saying - "The only living Brazilian invisible fish." They also placed there a little hidden fan, which would blow ripples on the water.
Crowds flocked to see the "Brazilian invisible fish!" (And the restaurant increased their sales!)
The promotion kept working - until the restaurant tried to serve the invisible fish as a meal!
More details here... http://www.museumofhoaxes.com/hoax/a...invisible_fish
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