BREAKING NEWS

The Hidden Cost of Experience

So much has happened since the outbreak of Covid-19. We have seen the first wave arrive, with devastating consequences, and as I write, we have exceeded the tragic number of over 1 million deaths globally. There is much discussion about second and third waves, and what the advent of winter in Europe and America will do to those numbers. Closer to home, South Africa seems to have weathered the pandemic better than most countries, at least fatality wise. But we have our own challenges with a severely damaged economy and much-needed aid not getting to the people that need it most in a timeous and orderly fashion.

Today, 1^st October 2020, we have re-opened our borders, albeit in a limited fashion and with restrictions. Our tourism industry desperately needs this, and it forms an integral part of our economy through jobs, employment, and an income point of view. Inter-provincial travel has been allowed now for some time and the need to shake off that “cabin fever” has seen people taking advantage by getting away for weekend breaks to visit families, friends or seldom visited new locations locally. This has seen a much-welcomed uptick in local tourism, and an improved economic outlook from the previous devastation experienced. However, by anyone’s books, we still have so much ground to recover to get back to “the old normal” – and will it ever be “the old normal” again?

As mentioned previously, my partner and co-founder, Ken Jarvis, had emigrated to the USA some years ago with most of his family and through our monthly Zoom sessions, he is reportedly doing well but showing signs of that itchiness and drive that made him so successful here in South Africa. So, if you have any business needs in the USA, get hold of me and I will gladly pass on his contact details. You will be in safe hands indeed.

With regards to Grey Hair Consulting , we are getting enquiries again on our skills set and availability, which shows there is starting to be activity in the market for scarce skills, and the now established WFH (Work From Home) practice is commonplace in industry and has had a profound impact on corporate locations and office space, not to mention the increased demand in reliable and affordable bandwidth that accompanies this initiative.

So, rather than turn this news update into a marketing exercise, I thought it would be appropriate to introduce a little storytelling to convey the value proposition that Grey Hair Consulting  offers.

The first story is one of my favourites used to illustrate our value proposition. Enjoy!

THE SHIP REPAIR MAN STORY

Glasgow in Scotland is well known as a ship-building centre. One of the world’s largest cruise line companies had commissioned a luxury liner to be built in the dockyards, and it would be launched by none other than the Queen Mother herself.

In the final trial run a few days before the launch, planned for a worldwide press event, the main engine on the giant cruise ship failed. The ship’s owners tried one expert after another, but none of them could figure out how to fix the engine. In desperation, knowing the embarrassment this would cause with the Queen Mother present and the reputational damage resulting from this, they asked around the Glasgow shipyards for any advice on who could find and fix the problem. Finally, someone recommended this old man to them.

They brought him in, having been told that he had been fixing ships since he was a young apprentice, and he was their last hope. He dutifully arrived, carrying a large bag of tools with him, and when he arrived, he immediately went to work. He inspected the engine very carefully, from top to bottom.

Two of the ship’s owners were there, watching this man, hoping he would know what to do. After looking things over, the old man reached into his well-worn bag and pulled out a small hammer. He gently tapped something. Instantly, the engine lurched into life. He carefully put his hammer away, and calmly informed the owners “The engine is fixed!”. They were ecstatic and told him to submit his bill to them immediately.

A week later, the owners received a bill from the old man for $10,000. “What?!” the owners exclaimed. “He hardly did anything! We watched him fix the problem quickly”

So, they wrote the old man a note saying, “Please send us an itemized bill”.The man sent back a bill that read:

• Tapping with a hammer………………….. $ 2.00
• Knowing where to tap…………………….. $ 9,998.00

The moral of the story – Effort is important but knowing where to make an effort makes all the difference!

And the second story is from our highly valued Associate, Vito Bonafede, who has been instrumental in most of our success in the past four years delivering the complex contract negotiations for a client that have saved them hundreds of millions of Rand. It too illustrates the value proposition of   Grey Hair Consulting but in a different way. Again, enjoy!

THE HIDDEN COST OF EXPERIENCE

“A client asked me how much it cost to do a job. I replied: “R 15,000”

He said to me: ‘For this job? That’s too much!’. I then asked, “How much did you think it should cost you?”

” At most R 5,000 or free, it’s a quick job ”

I replied – “ For R 5,000, I invite you to do it yourself ”

” It’s just that I don’t know how to do it ”

Again, I replied – ” For R 5,000 I will teach you, so in addition to saving you R10,000 on my fee, you will have acquired the knowledge for the next time you request it. “

It felt right to the client, and he accepted.

I told him – “I will let you know what you will need to get started: you will need tools: A ladder, rollers, roller trays, brushes, paint pots, drop sheets, scrapers, filler, no more gaps, sand paper etc etc….”

He replied immediately – “But I don’t have all these tools and I don’t want to buy all of this for just one job ”

” Well, then for R 5,000 more, I will rent you all the necessary tools so you can do it yourself. Plus, you need to buy all paint and materials you need for the job.”

′ Okay ′ he tells me, “Agreed! Friday I’ll wait for you to come and show me how to do it.”

” I can’t on Friday, I am busy with my other work at the moment”, I replied.

” Can you do it today then?”, he asked. “Not today”, I replied, “I don’t have enough time right now to teach you and lend you my tools. But I can do it on Saturday?”

I added “But you have to be very punctual because I have multiple jobs to go to. I’ll be waiting for you Saturday morning at 7 am to start with all the work.”

” Oops, no … Buying these things takes too much of my time and even more money.”

He then added “You know what? It is too early. I’d better give you the R 15,000 you originally quoted, as I’ve already done my math and it will cost me more to do it myself”.

Remember – You do not get paid just to do a job.

The job includes charges for: – 

• Knowledge – Experience – Study – Tools – Instruments – Services – Time- Punctuality
• Responsibility – Guarantee and Patience
• Payment of unseen expenses such as Insurances, Work cover and provisioning for employees, offices, transportation and more that any legally established business needs.

Nobody can denigrate anyone’s work by putting the price they want, or by belittling your work. It is an example of what self-respect and respect for others means, and why time is money. Mechanics, engineers, plumbers are generally given less respect than medical Doctors, yet they spend just as many years studying. You wouldn’t ask your Doctor to fix your car or fly you to London, so show due respect and pay the experts their worth.

We look forward to assisting you if needed…give us a call. In the meantime, stay safe, stay sane and STAY POSITIVE!