Support for this. Podcast comes from Goldman Sachs companies in the top quartile for ethnic. Diversity are thirty, three percent more likely to have industry leading profitability and those in the top portal for John, diversity are twenty one percent more likely to perform. This data was the catalyst behind launch, with G S, a five hundred million dollar investment strategy that continues to focus on increasing access to capital for women, black Lahti, necks and other diverse entrepreneurs learn more. A gps dot com slush launch with she s many side us all, welcome back money, Miss Cristel about. We are approaching the end of the year. In fact, it's almost year just three days to go up sitting in real time and holidays or so busy. I wouldn't blame you for listening a week later or six months later. In any case, The moment I'm recording this, we are counting down to the end of twenty seventeen. I very much look forward to everything

Bringing you in twenty eight in Lahti get stuff on away, but today I have a great story for you too. Of course an historic comes from South Africa. We actually have a significant listener base in South Africa, chauffeur all you guys out. There be sure you visit the mug and being for me or my favorite places about ten years ago I had the privilege of living in the country for about several months. I've been back several times, but only to Johannesburg since then, and I would love to return to Cape town in some other regions, the more the country but you're not here to listen to my travelogue you're here for a story, and today story is about an engineer in South Africa and efficiency. Obsessed engineer, it lets say who uses the internet of things to scratches it for efficiency and move towards putting his job. He ends up creating stable revenue source with recurring income that stories coming right up.

South african engineer calling my birth weight an interesting side herself would one day opium quit his day job obsessed with efficiency. He noticed that many other factories he worked with, while using outdated systems to collect information. They are people walking around with clipboards to monitor input and operate a practice that cost them thousands of ours in dollars. Every year, it was here coincide, site also opportunity, he'd been learning about the internet of things, and you may have heard this before it's about connecting objects to the internet, to improve your functionality, things like thermostats or appliances, or even your doorbell remit. Anything connect to the internet. These days, which is scary and thinking about that calling felt he could put his engineering in programming skills to good use. So he created his own system that factory owners can implement to increase their productivity through his new business, and he called this new business production reporting. He would go into a factory install a simple piece of hardware that

source locally and have the data transmitted back to one easy to use dashboard. The hardware would monitor cycle times. Production counts, downtime reasons in any other relevant info that could be used to make better decisions. Despite his background in engineering and programming, confident finest task easy, he spent many evenings and weekends locked away in his office working on it.

He relied on online tutorials to help him tackle specific challenges. The came his way and he also reached out to freelancers on up, worked out come whenever he got stuck because he was building a whole system himself, calling only needed to invest three turn: seventy dollars to start this site hustle. He bought cloud space through Amazon Web services that gave him a place to store the data for his clients and created a simple websites that he can be found on line. After a few months, Work Collins System was ready to roll out to clients to generate interest. He began to offer free consultations to people and is already established network. A factory honours and managers. Remember engineering was his day job, so he would go in, explain the system and show markups of the data they could be receiving in real time. Using it This time this has been the only marketing strategy he's used. Production reporting works on a subscription model which makes his monthly income much more predictable. He charges are on a thousand dollars for installation and then around four

yours and mine, for ongoing service inclined, subscribed to the service they receive emails every morning with the previous days reports and if they want they have MR real time, data through the online Dashboard twenty four hours a day that dashboard can be accessed through their mobile phones, tablets, desktop computers, probably not their thermostat or doorbell, but anything else. Basically, they can get their information whenever, however, they need it. Thanks to the subscription model colonies been able to generate recurring income of thirty seven hundred dollars a month through his new business.

Can use to grow a month after month. What about the challenges, but one time he was in a remote location working for his day, job that location has poor connectivity and calling got a notification that all the dashboard to email system seatbelt had stopped working retro. He had to scramble to try and find a semi, stable, Wi Fi connection, get in contact with his clients and call in some favors from other it friends. He was able to solve the problem at all is well. We also says it was a stressful experience and a close call. Collins advice to you is pretty simple. He says Google is your friend there, so many great free resources from podcast ebooks to block post to help you solve your problems. Collins goal is to grow production reporting a client base, so he can earn enough money to quit his job he's also having to take this project from South Africa.

They work with clients all over the world. It so great to see somebody from South Africa doing so well ingress to college, and I think one of the smartest things he did in addition to noticing this problem and create a solution which he was qualified to do based on his day. Job is experience that he had. In addition to that, his pricing model is very smart. Now he could have just charge for installation. You could have charge, may be more money for installation, but the foreigner dollar a month service fee for something that's very valuable to these factory owners and managers. That's where he sustainable income is coming from. Imagine he charged twice as much for installation two thousand dollars instead of a thousand dollars, or he offered free installation, zero dollars, but foreigners and month for the service, with that hypothermic

scenario, just five months in the free installation with the foreigner dollar among service be, would have caught up to the initial two thousand dollar installation costs and then, after that, in months six months, seven in month, eight and so on. You gonna continue to receive foreigner dollars a month, so obviously that so much better and he's not actually installing for free. He does get paid to do that to so good for him, and his story also remind you that I need a book a ticket to South Africa in far too long. I've been there. Maybe I'll, see you there. Maybe I'll see you somewhere else in the world regardless. Remember, inspiration is good, but inspiration with action to so much better today shows online. It satisfies school dot, com slashed, three six. We thank you for listening I'll, be back tomorrow. I'm preschool about four sided baseball.