Understanding Finance | Muhammadqodir Bahodirjonov | TEDxNamanganPS

Key Concepts:

• Dreams with Accurate Data
• Services (Customer-Centric Approach)
• Risk-Taking (Calculated)
• Long-Term Goals vs. Short-Term Sales
• Understanding Customer Needs
• Building Trust
• Marketing and Presentation

1. Dreams and Goal Setting:

• The speaker emphasizes the importance of writing down dreams with accurate data, drawing from a book he read in 2024, "Change Your Thinking, Change Your Dreams." The book highlights how a professor built a multi-billion dollar company by changing his mindset.
• He shares a personal experience from early 2024, where he wrote down two dreams for an ML project (now an international campaign in Mland):
  • Bring 10,000 visitors from around the world to Mland in 2024.
  • Have the project featured in Chinese media.
• He also had a dream of traveling to Istanbul but didn't write it down with specific details.
• The first two dreams materialized: MSIL brought in 50,000 visitors, and the project was featured in Chinese media. The Istanbul trip didn't happen.
• Key Takeaway: Dreams are more likely to come true when written down with accurate data and specific details.
• Example: He mentions that on June 15th (his birthday), they tracked the number of visitors and found it aligned with their goals.

2. Building Services:

• The speaker stresses that achieving dreams requires building strong services. Simply writing down dreams is insufficient; action is necessary.
• He defines "service" broadly, encompassing all aspects of life, from waking up to sleeping, not just business transactions.
• He criticizes the common misconception of selling as merely pushing products today or aggressively persuading customers.
• He references "The Art of Selling" by Grant Cardone, emphasizing that true selling involves building long-term relationships with customers.
• Example: He uses Amazon and Market (a version of Amazon) as examples of excellent customer service, highlighting their quick response times (within 3 minutes).
• Key Point: Understanding customer needs is crucial. This requires listening to customers and adapting plans for the long term.
• Example: He mentions Iman, who sells courses and hires trainers from other countries, demonstrating a service focused on providing high-quality education.
• In his own business, the service was understanding customer needs, creating traditional clothes, and exporting them. Trust was a key element.
• He recounts an experience in Kashka where he wanted to buy a film and the seller asked him what he needed.
• He also recounts an experience in a school where he wanted to enter the school to do a kind of project and they asked him where he came from.

3. Risk-Taking:

• The speaker emphasizes that risk-taking is essential for achieving great things.
• He shares an experience from 2022 when he was 15 and applied to work at teacher Aanam's school, despite not meeting the high English proficiency requirements. He took a risk by submitting a creative application and was eventually selected.
• Example: He discusses the challenges of using Wise (a money transfer app) in Pakistan. While Wise allows for quick and easy international transfers, it's not readily available in Pakistan.
• He recounts a situation where a customer from Massachusetts wanted to buy products from merchants in a bazaar but couldn't because they didn't accept Wise or credit cards.
• The merchants lost potential sales because they were unwilling to take the risk of accepting alternative payment methods.
• The speaker's store, however, took the risk of allowing the customer to use his account and even offered to help her buy from other merchants.
• He emphasizes the 50/50 nature of risk: potential loss versus potential long-term gain.
• He supported the customer with money and shipping, even though she hadn't paid yet, trusting that she would pay him back when she returned to the United States.
• This risk paid off, as the customer became a loyal client, and they continue to collaborate.
• Key Point: Risks should be balanced and calculated.

4. Marketing and Presentation:

• The speaker shares a marketing insight related to a factory in Mland.
• When visitors arrive at the traditional factory, they are greeted by a person in modern attire (formal suit, haircut, black eye pads).
• This creates a contrast that is mind-blowing.
• He contrasts this with the expectation of meeting someone in traditional clothing when visiting an old place.
• Key Point: Understanding and identifying your own services is crucial, but you cannot be wearing very close if you're working in an election center.

5. Conclusion:

• The speaker summarizes the three main points:
  • Dream big and write down your dreams with accurate data.
  • Work hard on your services and focus on your customers.
  • Take risks, but keep them balanced.
• He thanks the audience and participants for their attention and participation.