an amazing article based on the writings of an ex-Manhattan escort
(snip)At a recent meeting with a VC in Singapore a strangely interesting article 'Sex is Sex. But Money Is Money'. was shared with me. It was written by a 24-year-old ex-New York escort named Svetlana, and I recommend it to entrepreneurs, business owners and investors alike.
What I found most fascinating were the business lessons this girl had learned. Prostitution is certainly not what pops into most people’s heads when they think business. It is said, however, to be the oldest “profession”.
Let’s take a look at the lessons from this lady…(snip)
Brief summary ...
(snip)Lesson 1: Ongoing capex is necessary to grow your business
This girl realised that she needed to spend money to stand out. She needed to spend money on marketing, clothing, skincare, fitness and so on.
Even if you’re not a businessman, an investor or in fact inclined to think about daily activities from a business-minded perspective, you’ll likely grasp the basic concept that in order to keep your house, your car or your boat in good shape you’ll need to spend some ongoing money on servicing, repairs and maintenance.
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Lesson 2: Do not neglect the value of uniqueness
Here was an Eastern European girl with no formal education who had little prospects, and subsequently struggled to find a job. She took the fact that she was from Eastern Europe and turned it to her advantage, instead branding herself as an exotic and foreign girl; an advantage since guys would want to hop into bed with and exotic, beautiful young girl, over and above a local girl presumably. This was her IP and she used it to her advantage.
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Lesson 3: Study the market and position yourself accordingly
Svetlana, the girl in the story, studied her market. She learned that there were customers in all income brackets; she learned what they wanted to hear, what they wanted to see and do, and she positioned accordingly. Whatever your chosen market, it’s not as hard as you think to determine what and where opportunity lies. Study your competition, know your market and you’ll immediately see where gaps exist.
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Lesson 4: Being an owner is better than being a worker
This isn’t as simple as it sounds and though I’ve been an entrepreneur and owned and run businesses most of my adult life, the above statement is not necessarily true everywhere, every time. I know business owners who work 7 days a week, earn very little and at the same time I have a few friends earning high six figure salaries who work 9-5 and can go home and switch off. That said, for this girl the cost of operating under an escort service was far too high and running her own operation was far more profitable.
When you look at any industry, obviously the top companies or individual entrepreneurs running those companies are wealthy. It’s business owners who get rich. This is where the asymmetric payoff exists and it’s why private equity historically has been the highest returning asset class.
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Lesson 5: “Young guys are bad, virgins are awful, young virgins are a nightmare”
Inexperience can be costly. Mistakes are currency and I’m fortunate to have a lot of currency. I think of my mistakes as currency because without it I would not have had success. When I’m investing my capital and vetting deals, however, I don’t want to pay that price. I don’t want more “currency” any more than Svetlana wants young virgins. If virgins are involved in a business, and sometimes they are, I need to see a “grey hair” involved in the company; someone with currency and someone who can help the inexperienced navigate.
Take heed from this girl. Whatever you think of prostitutes she clearly has a head for business, and I personally look for business people like her when vetting deal flow. She could be an ugly old “babushka” and she’d stand out for her business savvy. I have to wonder what damage she could do if she put that brain to work in the business world. Either way I wish her luck and would definitely consider investing in her intellect and business acumen.(snip)



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