THE ART OF SPENDING

The common traits among rich is that they work smart to earn by spending least time, effort and money.

• The Hilton Doubletree Hotel gives a warm chocolate chip cookie during every check-in , totally 75,000 cookies are given out each day , 34% of their guests speak about Hilton Doubletree cookie to their friends , that’s almost 25,000 stories spoken about the brand every single day. The hotel spends just $0.20 as a unit cost per cookie .
• Skip’s kitchen - a californian burger restaurant asks customer to pick up a card from a deck of cards . If they pull out a joker, the meal is free. Skip’s spend just $2 for every $100 spent . They never spent on advertising
• When John Neville took over as a director of Neptune theatre , he gave free tickets to local taxi drivers who should talk up the shows to their passengers. Two years down the lane, threatre subscription doubled.
• By the end of Penn and Teller show, the magicians takes selfies, shake hands and answer questions to approx 200 customers every single show. That promoted them as the longest running headline in Vegas
• Tesla doesn’t spend on advertising. Owners talk about it to their family and friends. They refer their code to friends to get free supercharging.
• Amazon US filed nil tax in two consecutive years though they showed increase in profit .

Once Mr Dand from India wrote to Warren buffet about investing in a startup that has a market cap of $300 million. Few days later , he received a letter from Berkshire Hathway Inc stating that it’s far too small to be considered as Investment. Here , Mr Buffett has acknowledged a client’s time and effort as well as politely declined his proposal based on company standards. That’s how the rich work smart in spending least time , effort and money .