Tangents With Toby
Tangents With Toby

Episode · 8 months ago

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ABOUT THIS EPISODE

The meaning behind this particular episode kind of goes for everybody as I talk to one of my clients and the information that he gave me made me realize that I missed a chance and opportunity back when I was younger to make my future more set in stone.

I did have a chance to buy a gas station was 27 years old but at the time I was young I was dumb I just wanted to go home. As this client told me that this gas station would have doubled in value could have been within four to five years, I knew I made a mistake.

I start talking about simple things like what I would have done differently if I did stick it out and I even had chances to take that step but I backed up.

I had proof I was doing something right as other gas stations were taking notice in me having arguments. The best thing to do is for you to listen to this episode and listen and learn from my mistake to show you that taking a chance is not always a bad thing but a thing that you can learn from.

How can you not know if you were going to succeed if you don't try. Don't be afraid to buy a business and fail because the one thing that you can do is learn from your mistakes and make next time better

Hey guys, welcome short little episode of Tangents with Toby. This week, what I'm going to be doing is I'm going to be talking about something that kind of blew my mind when I was having conversation with one of my clients today. I was supposed to do question call, except I'm going to stand that for another week so I can get a little more questions for me to answer on air. The thing that kind of got me is when US talk to this gentleman, he is a business owner. He's been a business owner for since like the S, like early S, late seventy. So he's he's seen things, he's experienced things, it's so on, so on, and I forgot to do something I wish I remembered anyway. So it was just one of these things that we're talking about prices, how everything's going up. Gas Price. where I'm from, in the southeast part Saskatchewan, we have an average price of a dollar sixty five per leader. Times apt by three point seven, five, eight leaders into an American gallon. Do the exchange rate of thirty percent. He got difference of an American out. Anyway. I told them, I said I know what what you're talking about with the fluctuation of the prices, the inflation. I've been there, I've seen it, I've dealt with it. It sucks. I know what businesses are going through. Just kind of looks at me weird. It was what you mean, man? I told him, I said I used to run a gas station about two hours north of here and when you're buying products, things like that, I've seen it. He goes, whatever happened to that?...

So I told him, I said I was given the chance, an opportunity to purchase it from straight from the company. The company fled me personally, like my territory, wrap and sistic. How do you like the little town? You know, it's not too bad, it's quiet, it's clean, it goes. Would you ever consider buying the gas station? Of course, at the time of twenty seven years old. If you heard this story, just bear with it might be a little bit repetitive, but there is a reason behind it, all right. So in so he says, would you ever consider buying it? Will Give you a loan with very, very, very, very very low to next to no interest, and at the time I was twenty seven years old, I wanted to go home, close to my friends, my family, the trailer that I bought, and I playing blunt dead. It was just one of those things that I never thought would ever be possible. I thought it was just a dead end. So right. So the more I thought about it, I just wondered to myself what would have happened if I did it? Here's the thing. Bill, the guy that was talking to he said if you bought that gas station for three hundredzero dollars at that time, within the matter of four years I could almost guarantee you your investment would have doubled. I'm looking down. He goes, take a look, four years it would have doubled your investment to half a million dollars. Everything's gone up and you know something, Bill was right.

He knows you would have been said. You would have never did the gas station for as long as it did, seventeen years. You would have sold it after maybe like ten. You would have paid back your investment, you would have had money but away into your savings for your retirement and you would have probably went into another venture that you thought was fair. It looks at me, goes, you're not a dumb person. You would have had this all figured out. What would you have done differently if you had a chance for back. I like that. It's like all I do a hell of a lot more advertising. I would have bought more stuff in the store and I would have, and I basically told him, I would have brought this in, I would brought that in, this, did that, did this. I would have paid more attention. How would worked a little bit more hours that that I see within for or five years you would have been working high, you would have been making the cash, you would have been booming. So then I told him, I said Yeah, and you know, the funny thing is if you took what in my one year that I stayed at that gas station from when I started when I left, leaders every day they went up. They almost doubled in in store sales. When I have products, I was making a kilting cigarettes. We were making a killing. I even had other gas stations ask about pricing on products within the store and I had an argument with one of the gas stations because they thought that was under selling myself and underselling them. So we got into a little bit of an argument. I said look, I'm selling them for like a dollar fifty...

...more here than back home, and the person goes outs possible. It's like no, no, it's not. We're making a killing selling tobacco and mel them. They're like no, you're losing money. It's like no, yeah, this drug store is actually losing money because they are selling them cheaper than you dolt ter's price. I'm not moving. And we had like for a good, excuse me, three minute conversation. We were arguing back and forth and I said, fine, call me back in ten minutes. I'M gonna fold my boss. I'm going to make a proposal to decrease our price so our price of tobacco is the exact same of way. And the person goes, you can do that. It's like you want to bet? Try Me. So the person who is just like absolutely downblo found. So the person is like fine, hangs up on me. So I fold. The boss is like okay, rick, this is what's happening. Extra foods getting pissy ass at me because the price tobaccos to them is way too low. I'm actually forcing other companies around town to lose money. And he goes okay, so what do you want to do about it? I said, let me lower my price of tobacco to the price of waiver with whine. I want to make a stand and I want to prove to these guys I they can't push me around. You'll find lower the price. If you do, let me know. Not a problem. Tennis later if I'm happen. Well, what do you figure? I was given the go ahead. If I wanted to, I can lower my price down to the waiver price. But what's that? So I told them all the prices and let me tell you,...

...some of their pricing was like literally a dollar and a half to two dollars more than what waiver was paid. And they're like, well, you can't lower it, you're going to lose money. Oh, I'm not. Then again, we're in an argument. They they're like fine, how where are you buying your tobacco from? It's like from your sister company. What? What's happening? The wholesale store? No, that's impossible. No, no, it's not. We were actually buying bulk tobacco from the wholesale store every freezing gold day. No, no, you're not. That's impossible. Do you I mean to lower the price? I Lord the price. You guys have to go lower than me or match me, and you're going to lose the money, not me. We're still going to make profit. So they, like this company, jest, was on my case like massive. Then they finally said keep my price the exact same. They all match it, but I had to bring one particular brand up so the other company, deep within the community could actually make money off of it. And I saw laughing. It's like fine deal. So I phone back. It's like yeah, Rick, we come to an agreement. They were really pissed off. They were freaking the F at me, saying that it was almost next to impossible to do what I wanted to do. They said I didn't have the balls and we did come to an agreement. We're going to keep the price the exact same and raise a few packs to this price and he goes, Oh, more money for US deal. So Rick was actually happy that I never did what I wanted to do. But that was one thing that I did...

...do very well at this gas station. Was Left my mark on Melbourne. The gas stations were following me for tobacco. They knew my service was better than Mares because when I first started I was doing like one fourteen hundred liters a day. That was like nothing. Those were mostly like big ass sets. That was basically yeah, then by the end I was doubling. I was like around the three thousand two hundred and thirty four month thirty four hundred leads, which wasn't outstanding for that particular station in where I brought it from. And we actually had a few days where we are in the four thousand leaders and one day we actually be waivered with fifty eight hundred. The last day, this is the best part, the last day that I was at that station we did fifty eight hundred leaders and the boss is like the folds me up like the next day because I had email them the stats and he was you mean thirty eight hundreds? Like, no, fifty eight goes what? Yeah, fifty eight hundred. Well, no, it's like, yeah, all the stats are right. It is how it's like there's a baseball tournament. People are coming in massive overflowing. I'm just waiting for a shipment of gas because we're at the stout. Oh, that's guess. Must Love you for that. It's like yeah, actually did. I made a pretty good profit that day in stores and in gaps. But the one thing that pissed me off to this day is I the one thing that I massively did wrong, and make sure anybody who's listening to this understands if you're in a community and you're running a business, pay attention to the newspaper. I don't...

...care if you have to go out physically by a newspaper or sign up two groups on facebook, websites, follow everything, events on the radio, but make sure you figure this out, follow the events within the community. That day that I did fifty eight hundred liters. We had next to no ice. I didn't realize that there was a huge baseball tournament and all of a sudden people were coming in looking for ice. I phoned our ice company and I said, Kay, look, we have a freezer. It's empty. I have four hundred dollars of cash. Can you come fill it up? And it was a weekend and the ice company said no, it's like four hundred. Tack on the Nextra fifty cents a bag. I don't care. We need this cooler stocked. I'm pretty sure if you come with a whole container, like a whole like semi full of ice to all your spots here in Melville, you will sell all the ice. I can almost guarantee you and they're like no, sorry, we don't do that. You're not you don't come until next Wednesday. I don't need the Ice Wednesday, I need the ice now. No, sorry, we don't do that. So just because of me not paying attention, it hurt in me that new whole entire weekend in stores because they like white knee dry as well as sikes did good in gas did get a start in a trail off, but that's my biggest thing. If you have a chance, an opportunity to look around and see exactly what is there, just advertisement learn about your community. That was one...

...of the biggest mistakes that I did. Second Mistake was actually not taking it. Even to this day, like when Bill told me what I could have had sitting in my bank account right now, and would it blew me away like it just the frustrations of what I had a chance that would have changed so much that it would have been crazy like stupidity. I guess it was a stupidity. I guess was a lesson, and sometimes learning a lesson could be the hard way. And let me tell you, the more I'm talking about it right now, the more I'm realizing that lesson that I learned in the lesson that bill told me. Unbelievable, it really is. That's all I can say. Like Frick Man, wow, God Dang it. I better go. I'm blowing my mind like down. All right, so I'm going to end the episode now. Enough with the little bit of a rant things like that. But here's my little bit advice. Team, if you have a chance to do something like this, like to own a business, just remember one thing. Hard work goes a long way. Wist put, podcasters will basically tell you that sometimes we don't make money off, of course, shows, donations. Yes, little adds here and there. Okay, you can get like two or three cents. What at with podcasting failure,...

...you know, it happens to the best times. Like go I've had so many shows and Eilert, I seriously do. But when it comes to like owning a business, failing to some nobody wants to do because they don't want to end up bankrupt, they don't want to old people anything. They just don't want it like that. But in reality, if you don't try it, how do you know old and that was my biggest problem. Is I had a chance. I know what I could have did, but I never did it. I failed even before I try. Don't do that. Just go out, try and do it. All right. Yeah, that's basically it. I kind of zoned out there. So what I want you guys to do is email me any questions for question called tangents with toby at gmailcom anything you want and the advice, my opinion, whatever. Email me at and we can go from there. FACEBOOK, instagram, twitter, tangents toby. We the let's get the Party silent. Until next time, your tuned into tangents with toby and I will see. Excuse me, see you next Friday.

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