Monday, December 11, 2006

Getting Throught the Good Times and the Bad in Business

My work allows for me to meet some very interesting people. One of the most interesting people I have ever met, is John Mazzega. John arrived in Australia a penniless 16 year from Italy, 40 years ago. He is now very wealthy, controlling many acres of industrial land, warehouses, a timber and hardware operation amongst other businesses.

How did John achieve all this? Hard work and a highly developed business sense that allows him to apply a multiplier effect to his business. John originally had a small saw milling operation. He rose early to cut timber, which was hauled back to his mill. The timber was cut into slates, and he then made packing cases, which in the evening he sold to fruit growers. Years and years of 16 hour days finally paid off, and hes slowly achieved lasting success.

One saying that John said to me time and time again was "Good Times or Bad Times... they are the same for everyone. We just have to work smarter than the others."

Another saying I found intriguing was, "Business is a continuun... it expands to fit your requirements."

How do people like John achieve success on such a scale. Hard work is obviously one answer, but not the full answer. John is able to see how by changing the nature of an item, such as a piece of timber, it changes the number of applications it can be used for, and therefore, increases its value. A piece of broadacre land may be worthless, but by subdivision, and the addition of road, water and electricity, it becomes very valuable. To make the subdivision even more valuable, build some impressive buildings, and for good measure, start a big business that attracts thousands of people to the area.

John Mazzega has done all of these things. He has achieved more in his lifetime than most natural born Australians who could speak the language and probably had a dollar to start with.

If you are in Kelmscot WA, call in at his Hardware and Timber store and say you read about him in "The Maverick Report"

- Wayne Mansfield

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