The Right Mindset But The Wrong Product
Now before you get carried away and start thinking that I’m promoting or even condone drug dealing, I AM NOT and I DON’T. I’m here to tell you how drug dealers and entrepreneurs share similar characteristics .
Unfortunately, my high school was a place where drug activity was a reality. Fortunately, it’s something I never had to be involved in, but as a witness to the environment I understood the business and entrepreneurial aspects.
I realized that the dealers followed a process no different than your everyday corner store. The dealer would purchase the drugs from their distributor at wholesale cost; they would then repackage and sell it on the streets to their clients at retail price for a profit. They would then reinvest their earnings to obtain more volume and repeat the process to promote growth.
The initial concept of it all, to my knowledge, was to make enough money to get out of “the hood” and into a better lifestyle. Yet, because the money was so lucrative and “easy”, many would keep dealing and spend the money as quickly as it came in.
Instead of getting a legitimate job or pursuing other means to obtain legal profit, they stayed stuck in the illegal business because it was all they knew how to do. With the illusion of becoming rich quick, many pursue it to simply show off how much money they make. Others mismanage the business and end up “getting high off of their own supply” and never turn a profit, or go broke on their investment because they don’t know how to manage their finances.
Strictly looking at drug dealing from a business perspective you’ll realize that those individuals have the entrepreneurial “business mindset” but are just using illegal product, aspiring and successful entrepreneurs share these same qualities!
Business Owner/CEO: The drug dealer essentially becomes the entrepreneur/business owner as they create their own “business” of buying and selling a product. In this case however, the product is illegal.
Customer Service: The entrepreneur is in constant communication with their existing and potential clientele. They ensure they understand the current needs and wants of their customers to ensure they deliver accordingly in order to satisfy those needs. The individual works with their customers to make sure they are satisfied and become repeat customers who will potentially refer them to new customers.
Marketing: In order to sell the product entrepreneurs have to market their services as well as their product. For the most part word of mouth has been the most effective and discrete way of going about it. Advertisement and even delivery method are critical!
Sales and Finances: Like any Fortune 500 company, entrepreneurs need to be mindful of cost of goods, income to debt ratios (cash flow), fair market value, and supply and demand. They manage the accounts receivables from the customers and accounts payable to the distributor.
Now imagine that instead of drug dealing, they took the same discipline and applied it to actually starting/running a legal business operation. They are playing multiple key roles in a business but as I mentioned, with the wrong product. Given the right product however, imagine the possibilities they will have to succeed and the potential they’d realize.
Instead of drugs, they can sell a multitude of products or services and work their way up. The concept at the end of the day is all the same.Offer a product or service that adds value to your client that you can earn a profit from.Click To Tweet
Now for those of you who want to or have thought about getting into the drug dealing business to make good money, I recommend you become a pharmacist instead. The median salary is $108,000 a year and it’s a legal business!