It’s amazing how people find out avenues to make money. And if they can do that while adding value to others, that’s good. I saw one such incident today.
I was at the Malaysian Consulate this morning to apply for a visa. While I parked my vehicle near the Consulate, the security guard refused to let me park. While I was looking around for a place, a guy came over to me and suggested a good spot to park.
When I parked my vehicle and walked towards the Consulate, he came across with DD in his hand, smiling. It was for Rs.600, the exact amount required for a short term tourist visa. He was selling it for Rs.700. Rs.50 goes for the bank commission and the rest Rs.50 is his profit.
I had the DD with me, so didn’t get it from him. But I saw atleast three others who bought it from him. All of them looked like they were in a hurry and paying Rs.50 made sense to them. They didn’t have to hunt for a bank and wait in queue to pick up a DD. I assume they saved atleast an hour of waiting.
I made small talk with this DD seller and asked him how does he price his margin at Rs.50. He replied its quite simple. The nearest bank is a kilometer away and the cost of autorickshaw charge to and fro would come to Rs.50. Add to that the conveneince and the time saving and he says its a decent bargain.
I have to agree.
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Email:Kiruba @ Kiruba.com
Phone :+91-44-42733619
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Virugambakkam,
Chennai, INDIA
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Things like this happens outside almost every consulate… especially the US consulate. I have witnessed people selling DDs for the US visa fees for several years.
Its great and also stands testimony to the resourcefulness of people. If the right market opportunities exist – people will always find entrepreneurial ways to exploit it and create value.
BTW, KL is great, you should check one of one those night clubs which place tamil/western fusion music
What is a ‘DD’?
‘DD’ = Demand Draft, read more at http://en.wikipedia.org/wiki/Demand_draft
Entrepreneurship is nothing but filling up the Gap of demand! he must have grasped the GAP. “Its all about borderless thinking”
A small time Entrepreneur. It’s all about finding the opportunity to make money
Thats why they say “being forgetful and reckless” helps!
even a club leaves its comments for kiruba!! (see previous comment bu rotary club east chennai)
Wow…neat…micro services the entrepreneurial way!! May be someone might try to offer various such services as a consolidated offering…
are you the same guy who is writing in the name of idlyvadai in tamil?
Santosh – idlyvadai is supposed to be another Krupashankar, not our Kiruba.
Yeah I have met with the same situation before coming to KL,Malaysia. I feel that its very useful and timely help too…
BTW,Do let me know where in KL u going to stay?I am in KL.We shall meet…
There’s something similar that happens outside the Chennai US Consulate as well. This guy has a tie-up with the cops and he takes you to this shack where you leave all your valuables, including your cellphones and stuff. Really scary experience!