Nov 9/25

Greetings from, Sunshine Coast, Australia 

“You’ll find me easily. Drive past the Do-it-Center and look for the wheelbarrow up in the tree.”

(Can’t read the full email – click here for the online version.)

It is easy to see why Australians come here to recreate. The coast comprises a series of long beaches of white sand that slope gently into the ocean. This makes it easy and pleasant to walk out into the surf, barefoot – without fear of stepping onto a sharp rock or coral. Furthermore, the tide rises a moderate 1.5 to 2 meters, versus the 4-5 meters on Pacific coast of Panama, where we live.

Thinking back on our chosen area of Panama, I recalled a conversation with our driver to the airport, prior to our trip to Australia.

We had rented a used Jeep, from a friend of a friend. Car rentals are quite expensive in Panama, primarily due to the obligatory insurance you must buy (your credit card insurance is not accepted), which doubles your rental price. 

This is how we ended up meeting and befriending a fellow who I now call, the “wheelbarrow magnate” of Panama. It was his vehicle we were renting.

He is a tall man, 6 feet 6 and goes by the name of Igor. A Dutchman, he has been living in Panama for 40 years now. Followed his dad to the isthmus, who had been managing the shore facilities of a shipping business at the time.

The wheelbarrow moniker is not obvious. Yes, he has a wheelbarrow high in the air, like a signpost, to signal people to his place of business. But it is such an oddity there, next to the busy Pan-American highway that it is easy to miss. The entryway is simple crushed gravel. A couple of cars and a motorbike are parked off to the side, like cast-off junkers. 

Facing you is a large 2-story building, half-constructed, with steel girder beams and re-bar jutting up, waiting for more concrete. Part of the frontage as a home-feel – as if used as a residence. Which indeed it was, at the time we visited. 

Looking down and around the side, one could discern some kind of industrial activity, but nothing that was obvious. And nothing that appeared to be on any kind of scale.

Leading up to the last day of our rental, he asked how we were getting to the airport. When he heard that we had hired a driver, he said he could drive us, using the rental car. 

The cost would only be $30. Sold!

It was only during the drive to the airport that we learned the significance of the wheelbarrow. 
 

He worked for his dad the first few years, then dabbled in various jobs, including a few years on a cruise ship.  His venture into the wheelbarrow “industry", began, like many businesses, from noticing that while people were using this tool, the supply available was either formidably expensive (read: imported from the US etc.) or of very poor quality. 

He wanted a better one, initially for himself. 

So, like any good entrepreneur, he looked around for what parts were available and build one for himself. Other people noticed and asked him if he could build one for them.

Before he knew it, he had local stores asking if he could supply them for re-sale. This took him on a longer journey, searching for the right ball-bearings, handles, steel etc. Then an inexpensive place to receive containers of the materials and a building in which to fabricate the final product.

These days, the lowly wheelbarrow is secondary to his bigger product which is industrial dollies. The kind used by delivery drivers the world over to hand-deliver goods from a truck to stores and shops. His clients are some of the top delivery businesses in the country.

You would never guess that this non-descript, care-free hippish expat was the owner of a successful, niche business, making a few million a year. When asked about his lack of signage and professional frontage for his company, his answer was succinct. 
 

“I don’t really want nor need to be known locally for what I do. As a wholesaler, I am now well-known in the industry, and I make personal calls to those businesses. Plus, I like keeping a low profile here. There is no advantage to making yourself a target to petty thieves and I don’t sell direct to consumers.”

I love the lessons for business espoused by this fellow.

Firstly, his business was built on a need in the marketplace. He didn’t create or invent a product that he hoped everyone would love. Everything was pushed by the demand from customers.

Secondly, he has crafted a better-quality product, which he can sell for less than the same quality one would import for. He has therefore, created a “Market Dominating Position.”

Lastly, he has not immersed himself in business to the loss of enjoying life. He has trained a small team for the fabrication of his product and hired someone to manage his bookkeeping. 

To be sure, he could grow the business. Maybe become international, selling to other Central and South American markets. But I got the sense that he didn’t want to grow that big nor take on that much more responsibility. He was earning more than enough for his requirements and desires. 

This last point is an important one. Especially for those of you who coach or consult.

Not every business owner wants to manage a larger enterprise. To be responsible for more employees. To figure out more and different markets.

And that is OK.

But if you do want to grow or at least, earn the kind of profit you both need and desire to live the kind of life you want – then, there is no better place to get all the strategies and tactics you need for pennies on the dollar than my low-cost, Do-It-Yourself Business Academy.

Until next week, 

Stay healthy and focus on profit! 

 - Hugh 
The “Profit Accelerator” Expert

P.S: Tiny, consistent wins—1–2% changes—can compound into 50–100% more profit in a year. Our team built a tool to unlock those gains. If you’re curious about how this can transform your coaching business, click here to explore further.

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