Page 227 - The $100 Startup_ Reinvent the Way You Make a Living, Do What You Love

CODA

The story about freedom and value doesn’t end in the Western world; these

themes are just as important in helping people create opportunities for
themselves wherever they are. In many parts of Africa and Asia, more people
work as buyers and sellers in the informal economy than work as employees for
someone else. They may not all be professional bloggers or mobile application
developers (yet), but they earn their living through the principles outlined in this
book.

In Phnom Penh, Cambodia, I met a tuk-tuk driver named Rhett. Tuk-tuks are
the open-air taxis of Southeast Asia in which you can ride anywhere in the city
for a dollar or two. Some tuk-tuk drivers, just like some cab drivers in other
places around the world, are unreliable and dishonest. Rhett, however, is both
reliable and honest, always arriving early to pick up a passenger and sometimes
delivering regular customers to their destinations at no charge.

Most tuk-tuk drivers in Cambodia make just $2 to $5 a day, but Rhett earns up
to $50 a day. He does this through a combination of hard work and careful
strategy. The hard work comes by not sleeping or gambling the afternoon away
as many of his colleagues do. The strategy lies in understanding that he is better
off by serving regular clients instead of constantly roaming the streets looking
for one-time fares. While I was in town visiting a friend, Rhett made it clear that
he was at my service, giving me his mobile number and telling me to call him
“day and night.”

After his core business model of serving regulars was established, Rhett
created “multiple streams of income” by adding a sign for a popular bakery on
the back of his tuk-tuk. The bakery pays him a fixed amount each month, plus a
small commission for any business he brings in. He also regularly asks his
customers for referrals and testimonials to increase his client base. If a customer
needs help getting to a destination outside of Phnom Penh, Rhett will find a taxi
or bus driver available for hire, making sure he is honest and then following up
with the customer after the trip to confirm that all went well.