Sunday, October 5, 2008

The Bucket Story
Wealth is not for Everyone

Based on the original story by Robert Kiyosaki

Once upon a time there was this quaint little village. The village had no water unless it rained. To solve this problem the village elders decided to bid the contract to have water delivered to the village on daily basis. Two person Ah Beng and Ah Seng volunteered to take on the task. The elders award the contract to both of them. They felt that a little competition would keep the cost low.

Left: Ah Seng a.k.a. The Chosen One
Right: Ah Beng a.k.a. Bucket King

Ah Beng immediately ran out, brought two galvanized steel buckets and began running back and fourth along the trail to the lake which was a mile away. He immediately began making money as he labored morning to dusk hauling water from lake with his two buckets. He would empty them into the large concrete holding tank the village had built. Each morning Ah Beng had to get up before the rest of the village awoke to make sure there was enough water for the villager. It was hard work, but he was very happy to be making money and for having one of the two exclusive contracts for this business,

The second winning contractor, Ah Seng, disappeared for a while. He was not seen for months, which made Ah Beng very happy since he had no competition. Ah Beng was making all the money.

Instead of buying two buckets like Ah Beng, Ah Seng had written a business plan, created a corporation, found four investors, employed a president to do the work, and returned six months later with a construction crew. Within a year his team had built a large volume stainless steel pipeline which connected the village to the lake!

At the grand opening celebration, Ah Seng announced that his water was cleaner than Ah Beng's water. Ah Seng also announced that he could supply water 24 hours a day, 7 days a week! Ah Beng could only deliver water on weekday (he did not work on weekend). Ah Seng also announced that he would charge 75% less than Ah Beng did for this higher quality and more reliable source of water! The villager cheered and ran immediately for the faucet at the end of Ah Seng pipeline!

In order to compete, Ah Beng immediately lower his rate by 75%, bought two more buckets , added covers to his buckets and began hauling four buckets each trip. In order to provide better service, he hired two sons to give him a hand for the night shift and on weekends. When his boys went off to college, he said to them, "Hurry back because someday this business will belong to you."

For some reason, after college, his two sons never returned. Eventually Ah Beng had employee and union problems. The union was demanding higher wages, better benefits, and wanted its members to only haul one bucket at a time.

Ah Seng, on the other hand, realized that if this village needed water then other villages must need water too. He rewrote his business plan and went off to sell his high speed, high volume, low cost, and clean water delivery system to villages throughout the world! He only makes a penny per bucket of water delivered, but he delivered billions of buckets of water everyday. Regardless he work or not billions of people consume billions buckets of water, and all that money pours into his bank account! Ah Seng had developed a pipeline system to deliver money to himself as well as water to the villagers.

Ah Seng live happily ever after and Ah Beng worked hard all his life and have financial problems forever after.

The End

Am I building a pipeline or hauling buckets?

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