Mindset story: A hot dog stands battle with recession
There was once an elderly man named Mr. Thomas, who ran a small but thriving hot dog business in a busy city. Mr. Thomas wasn’t a man of many books, and he didn’t know much about the latest news. His eyesight was poor, so he couldn’t read newspapers, and his hearing wasn’t great, so he didn’t listen to the radio. He didn’t own a television either. But none of that mattered to him. What he did know was how to make delicious hot dogs that people loved. Every morning, Mr. Thomas would push his hot dog cart to the train station, where busy workers would stop to grab breakfast before their day began. He had recently started selling bacon and egg rolls as well, and they were a big hit. At lunchtime, he moved to a nearby park, where he had a long line of customers eager to enjoy his tasty hot dogs. In the evening, he returned to the train station, and later at night, he set up near a nightclub. There, under the glow of his bright neon sign, partygoers would gather around his cart for a quick, satisfying snack.
Mr. Thomas worked hard every day and was proud of his little business. He earned enough to send his only son, David, to university. David studied business and became a management consultant at a large company. Mr. Thomas was proud of his son’s success. One day, David visited his father. With a serious look on his face, he told Mr. Thomas that he had read in the newspapers and seen on TV that a terrible recession was coming. “Father,” David explained, “A recession means that people will lose their jobs. They will have less money to spend, and businesses will suffer. You need to prepare. Cut your costs and be careful. You should start saving and reduce your spending.” Mr. Thomas didn’t fully understand what a recession was, but he trusted his son. After all, David was educated and knew about business. If David said things were going to get bad, then they probably would. The next day, Mr. Thomas started making changes. He bought fewer sausages and bread rolls. He thought, “If people have less money, they will probably buy fewer hot dogs.” But sometimes, he ran out of food before the day was over. He had to close early, and this made him worry even more.
Soon, Mr. Thomas stopped getting up so early. “People are probably eating breakfast at home to save money,” he thought. He also stopped selling bacon and egg rolls because they cost more to make. “No one will buy expensive food in a recession,” he believed. Business continued to slow down. “David was right,” Mr. Thomas thought. “The recession is getting worse.” He decided to save more money by turning off his neon sign at night. Without the bright light, fewer people noticed his cart. Eventually, he stopped going to the nightclub altogether. Each change Mr. Thomas made led to fewer customers and lower sales. His fears seemed to be coming true. Finally, he decided to sell his hot dog cart. A young woman bought it, eager to start her own business. “She doesn’t realize how bad things are,” Mr. Thomas thought. Now, Mr. Thomas stayed at home, feeling sad and defeated. Whenever David visited, they talked about how difficult times had become. Mr. Thomas felt lucky to have such a wise and educated son who had warned him about the recession.
But something strange happened. That young woman who bought his cart… She set up in the same places Mr. Thomas once did. She smiled warmly at customers, made delicious hot dogs, and even added her own special breakfast sandwiches. She put up a bright new sign and stayed late at night by the nightclub. And guess what? Her business was booming. People still needed to eat. They still enjoyed a tasty hot dog or a warm breakfast on their way to work. The recession had not stopped people from spending a little money on something they loved. What had stopped Mr. Thomas’s business was not the economy it was his fear. Mr. Thomas had believed things would get worse, and so he acted as if they already had. He cut back, worked less, and made his cart less visible. His actions turned his fears into reality. Mr. Thomas eventually realized his mistake. He smiled as he watched the young woman running his old hot dog cart successfully. He learned that sometimes, we need to trust what we see with our own eyes, not just what others tell us. And most importantly, he learned that even during difficult times, people still need hot dogs and a friendly face to serve them.
Moral of the story:
- Even though other people are more educated than you it does not mean they know what is the right decision or what is the wrong one.
- Sometimes, when we expect the worst, we start acting as if it’s already happening. This can lead to poor decisions, which actually cause the very failure we feared.
- Even during difficult periods like a recession, people still have needs. Businesses can survive and even thrive if they adapt, work hard, and stay positive.
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