Why the Millennials would never buy a contract like this today.
Tam Duran trend adviser and coach on the new digital high street.
Maybe I’m an opportunist, perhaps it was luck.
My visions and dreams manifested in just one day.
I was back packing in south Africa 20 years ago and stayed at a timeshare reserve in Kruger park, on a cheap travel deal.
The restaurant was awful and the beer limited, but nonetheless, after a gruelling 18 holes on the golf course I was ready to drink and sleep.
I wasn’t playing, I was picking up stray balls for a pittance.
The guy I was working with that day came from the township, he told me he was so poor they couldn’t afford the mortar between the blocks in his house.
I though he was joking, but one day I saw him carrying bags of carrots from the mall to peoples cars for one rand ( 50 c in those days )
When I visited a couple of days later, I had to step over the electrical cables in the mud that supplied their intermittent electricity.
But he was sharp, he listened and he listened and smiled a lot.
He shared with me that the South Efrican Eccent people with the beards were unhappy with their timeshare at the park.
He said it was a secret, and I had to listen, so I did.
After a whole day of banter, it emerged that the timeshare contracts that the wealthy folk from Johannesburg had signed up to were onerous.
He had taken a crumpled contract from a bin after a heated and angry debate from the sales office which was next to the clubhouse.
Truthfully, he couldn’t read it, but he knew the big guy on the golf course that day was super angry, and he was a lawyer !
I listened and I read, I read it so many times, oh my word.
But buried in the contract was an interminable termination date, in fact it was in perpetuity, which means no end date. I had to look that up!
In addition, on a page un associated with the the contract page, the owners of the park can legitimately add 6% every year to the ‘maintenance charges’ of the property.
At school, I learned about compound interest, my master, Mr Harding, kept on and on about the importance of the rules of compound interest.
It just pieced together in my mind, this contract was designed to collect compound interest forever !
That’s why the Lawyer guy was ready to commit murder, he hadn’t read the contract but instead became obsessed with the dream property on the Golf course.
After extensive negotiations with the Developer, I explained that the value of contracts was in the change of the contract.
It took 3 years to talk to nearly every contract owner, usually in the bar area on the complex.
We charged more than the original value contract, by and large , the additional benefits in the contract outweighed the extra investment.
How I sold £5 million worth of new contracts in a bar !
In conversation with the “wired magazine” Tam Duran talked ‘off piste ‘ about the savviness of the Millennial generation using the smartphone as their life tool.
He has identified a massive shift into the trust of strangers on social media.
He claims that it would be infinitely more difficult to sell a contract like this in the first place.
The first sniff of an problem would be shared and re-shared, or as Tam highlights, made more searchable and more searchable.
Why business has to be developed on the technology that the millennial yearns.
Tam Duran spoke of generational digital divide and the consequences that invoke digital inequality.
Put another way, the Millennial’s have developed an in-built ability to rapidly close any knowledge gap.
They are comfortably self sufficient leading their lives on the internet.
Millennials actively dismiss tech platforms in less than a second.
And they actively and rapidly dismiss tech platforms that fail to deliver their considerable needs in a blink of an eye.
The vast majority of Websites are included in that dismissal.
The DO and DELETE culture of APP usage with the Millennial
The Millennial crave for the simplicity and responsiveness of an APP
An not just any APP, they hate downloading APP’s that impinge on their precious Smartphone memory.
They also search and work on the APP that can be shared on their social media.
And they know that if its an APP from the APP store they probably cannot do that.
It feels like a fabulous opportunity for small business with vision because the production and hosting costs of this new technology are so dramatically lowered.
And before too long the GEN Z generation spending power will impact the digital high street in many shattering ways.
Look out business people, adopt or die.
Tam Duran trend adviser and coach in the new digital high streetTam Duran a Maltix board member and support partner.
Newswire article 31-07-2021