2 minutes
Editorial Invest in Slovakia
We don't always have to look behind the "big top" for an interesting and informative story about an entrepreneur. Not far from the Slovak border, in the Moravian town of Zlín, Tomáš Bat'a was born, whose principles and slogans still inspire entrepreneurs today.
A fearless and courageous man who followed the rules and wanted to get the most out of his employees. Not through tyranny and abuse, but through a fair system and radical measures.
He started sewing shoes before he knew the alphabet
He used the leather scraps to make small shoes for dolls, which he then sold in the market. His products were in demand, especially among young people. One pair of boots required a whole day of hard work and cost between 4-10 grajcars.
He put his savings in a postal savings bank
Even at that time, the young man was already putting away savings. The way it worked was that he bought a stamp for two graecres, which was stuck on a ticket, and after collecting ten stamps, the postmaster wrote the deposit on a booklet.
Instead of school, he was taught to manage capital
Bata senior was neither a tyrant nor a fool. He valued education, but often young Tomas had to put his family business before school and so he missed many lessons at school and had considerable problems with catching up. At the age of 14, he could only read as much as he had learned from the dictionary.
Sales are more important than production
At 15 he started making slippers, but he didn't find out if there would be any interest in those slippers. Besides, he didn't have a trade licence and that's why he got into trouble with the police. You should always do your market research before you produce. Don't start making anything until you've convinced yourself that people want to buy it.
From companion to sales representative
At the age of sixteen, he took a suitcase full of his father's shoes and went to sell them. He couldn't even write, but his trip was a success. He brought 35 of the 50 guilders his father gave him for the business trip, and he also took dozens of orders. The family business was thus no longer limited by location and was free to grow.
Audition for the company
After a year, when the company's creditors began demanding payment of debts for the material, they discovered that they were owed 8,000 guilders. In addition, they had lost the 800 that their father had given them. At that time their property was worth about 100 guilders. In the end, the bankruptcy did not take place and they duly paid their debts in two years.
Is this knowledge beneficial to you?
Support our podcast and help educate people about financial literacy. You can donate to our crowdfunding account: patron.podbean.com/KLUBINVESTORS or tell your friends about us. If you want to start your passive income by investing in real estate, join the INVESTORS CLUB.
In the podcasts, we cover money, productivity, investing, as well as living a fulfilled and abundant life. Sources of information are world-famous books, videos, biographies, quotes from successful personalities, as well as real interviews with successful investors, entrepreneurs and inspirational peoplewho are achieving remarkable results.
We are interested in how these people think about money, what habits influence their daily lives, what they attribute their success to, but also what their biggest failures in life have been. We select only the best for you, and together we'll take a peek into the secrets of how to live a more successful, wealthy and productive life.
