YOU ONLY LIVE ONCE, SO DO IT THE SMART WAY.
How
to make driving Maseratis, (and not only) Financially sustainable.
http://www.goldmansachs.com/our-thinking/pages/millennials/
Have you always wanted to drive an aggressive sport car, and
live the good life, but as all the other Millennials (those born between 1980
and 2000), you struggle with overcharged credit card and long term payments?
This post will explain how you can turn your dream into action without
abandoning a responsible money management.
William Strauss and Neil Howe in a famous research (Research) described us, the
Millennials as similar to the generation of the roaring twenties, the era that
accelerated the most consumer demand and aspirations. Everything at the time
seemed to be feasible through modern technology just like today.
A survey by market-research
firm Harris Poll,
showed that last year 78 percent of Millennials spent more than they could
afford to have luxury experience.
This trend had clear effects on the market:
·
Uber
boomed, and reached an evaluation of 62.5$ billions (Uber) with the vision to
provide a driver (one of the most famous status-symbol of luxury) to everyone.
·
Ski
operator Aspen Resorts Inc, a company who managed lifts in the famous resort
village in Colorado, increased value more than 700 percent since 2009, selling
tickets for 140$.
·
Airbnb Inc, founded with the goal to provide
tourists amazing houses at a cheaper price than hotels, had a
$25.5 billion evaluation by TechCrunch ( Airbnb).
In other words? People want to enjoy the life.
The trade-off of all this fun? Savings. Silicon Valley
geniuses understood this, and they boomed, trying to provide smart and cheap
solutions for luxurious experiences.
“I don’t put much of my monthly salary aside at all,”
told me Tom (Interview 1) when I interviewed him at Ronald Tutor Center. We
know he is not alone! More than
half of Millennial credit-card holders say they charged over the credit limit. A research conducted by Forbes (Forbes)
reported a majority of Millennials having too much debt, difficulty in making
payments, and worries about it.
Is solving this problem possible? Can we pursue our high end standards
without ending in a terrible recession? Providing an answer for the entire
society is hard, but this post will give you smart tips to live like rock stars,
even when there isn’t an app run by Stanford genius to help us.
http://www.goldmansachs.com/our-thinking/pages/millennials/
How?
It is only about making things happen, and believing that is
possible. I will give you a specific example with the car industry to make the
core of the message clearer, however the strategy I suggest is a common
behavior people could apply to many different situations.
The majority of buyers buy cars taking already in consideration
that these goods will depreciate over time. Don’t you do the same?
WRONG APPROACH! You can always win the deal, and gain, but
the first rule is being confident, and believing that is doable.
The market is made by people with different needs, dreams,
backgrounds, and trade off costs. Price, as a consequence, is never absolute,
but it has a range. As the last Mergent horizon’s report on car industry showed
(Mergent Horizon), after the big depreciation the car has along the first
months, the value changes slowly. You can make your
own price!
You have to be confident, take your time to do research, find
a good potential deal, and negotiate it effectively! You can buy what you
desire under the average price, you can satisfy your bucket list, and sell the
good after some months (I am sure, at that point, you will have found something
else to dream about!). If you are a good dealer, and a little bit lucky, you
can even gain some extra green backs.
There are some steps you may want to take to achieve good
results.
·
Believe
in the opportunity.
The rule number one for good dealers is being able to
persuade. In order to make it happen you have to strongly believe in the terms
you want to obtain.
·
Become
familiar with second hand car website such as Autoscout24.com,subito.it or
cargurus.com
In order to trade efficiently, every smart deal maker has to
know the market perfectly. The price at which other sellers usually sell, the
price at which other buyers usually buy, the price of similar cars, are all
important factors to be able to drive the negotiation where you want to.
·
Analyze
the websites mentioned above for a period of time to understand the range price
of the car.
As I said before, there are no fixed price for pre owned cars
and for other material goods. People have different needs and costs. As a
consequence, some people prefer to sell cars less or more than the others. It
is important to analyze the market, and to understand what are the extreme
terms on the market of the item’s price range.
·
Close
deals with mechanics, suppliers, car washers, document registration agencies.
In order to avoid problems, and to sell the car at the best
price, you may want to find the right people to collaborate with. You have to
find people in the industry that can help you to make your car perfect at the
best price possible.
·
Understand
when are the most profitable times of day to advertise your car announcements.
Since the goal of all this time investment is saving money,
you do not want to subscribe to an expensive website to sell your car. Don’t
worry! You are lucky! There are really good, free websites such those one
mentioned above and many others according to the country where you live, where
is possible to buy and sell cars for free ( I suggest to check subito.it group
to find the most effective website to sell in your country). The only problem
is that visibility is crucial to get the calls, and then the meetings to
negotiate and sell. You have to work hard updating your announcement constantly
to have it always in the first page specifically when the website has the
highest traffic.
·
Create
a story to sell, and learn how to understand your buyers in order to let them
be comfortable in trading. You are young, and you have to learn how to deal
with different people.
Every time you will trade with customers with different
background. It is up to you to let them feel comfortable and trust you. The
best way to communicate self confidence is to tell a story, and let your buyers
understand that you are offering them a once in a life opportunity. For
example, selling long term rental corporates car, I used to pitch the car as a
corporate’s employee. People see teenagers playing Call of Duty and smoking
weed so it is hard for adults to trust our generation. Instead of being a high school kid who wanted
to make money to pay for his college, I always presented my self as a well
dressed company’s employee who needed to sell the car to have the new one. Many
people may think that is not correct, but I always provided perfect car at the
cheapest price on the Italian market: I just hacked people’s bias.
As an article published by Bloomberg (Bloomberg) in march
said: Millennials want to buy fun and experience, “Experiences help them shape their identity and create memories, to
a greater degree than for older generations.” (Bloomberg) Let’s do it!
WE ONLY LIVE ONCE, BUT LET’S DO IT IN A SMARTER WAY!
WORKS CITED
Research: Neil Howe, William Strauss Millennials
Rising: The
Next Great Generation,2009 Neil Howe, William Strauss Generations: The History of
America's Future, 1584 to 2069, 1992 Mergent Horizon http://www.mergenthorizon.com.libproxy2.usc.edu/carindustryusa
Airbnb
https://www.crunchbase.com/organization/airbnb#/entity Uber https://www.crunchbase.com/organization/uber#/entity Harris
Poll http://www.psych.cornell.edu/2015/12/14/a-wise-guys-guide-to-happiness-prof-thomas-gilovich/
Interview 1: Thomas is a USC student, interviewed for research purposes
only on February 10,2016 at Ronald Tutor Center USC.
http://www.goldmansachs.com/our-thinking/pages/millennials/
Nessun commento:
Posta un commento