Journalled on Wednesday, 16 August 2023 | Flamengo, Rio de Janeiro: 25 degrees, warm, sunny and slightly overcast.
Wednesday: Half of the week has passed, and it is another special day!
The day began well with a good early start, just like any other day. I had my usual morning workout, and everything seemed normal. What made today different was that I received my new debit card, which doubles as a credit card, from Nubank, the new bank account that I had opened last Friday.
For many people, opening a new bank account and getting a credit card is mundane. However, it is a major victory for me because I have been without them for a long time.
Everything I have done, I have done alone. No one has ever helped me or backed me in my endeavours. As a small entrepreneur in Brazil, I came alone, on my own, and with my own money.
When I opened the school, it was alone and again with just my own capital. All my life has been like this, alone. It is not as if I am victimising myself; it is just the reality.
Since I was 14, I have never had the support of my father or a father figure. Since the age of nine, when our father left home, I have always had to face my mother alone. Later in life, I have always tried to be a good son, even though my mother does not really deserve it. In my adult life, I have always tried to give my mother the benefit of the doubt, but it is difficult.
On one or two occasions, I asked my mother for help, but it never came. I understand that my mother only thinks about herself and her survival. I have seen the same thing in Nalva, where she uses both Yasmin and me.
While I’ve made progress, I haven’t been particularly successful in business in Brazil. Although my efforts have yielded some results, I haven’t achieved the level of success I anticipated.
Despite being recognised as talented in my field, I have not reached the heights I feel I should have. I think Brazil plays a role in this, but I also recognise that there may be something lacking in my own abilities and skills.
The concept of failure is also an important point to consider. One of the latest ideas in business is that failure is a necessary part of success. If someone claims they have never failed in business, it is likely not true and that something is seriously wrong. We often learn more from our mistakes and failures than from our successes.
When I opened the English school in 2001, I thought it would be an enormous success. I had already been giving classes for many years and had built a name and reputation in the market. I believed in the quality of my teaching. I opened the school in one of the most important trade/business galleries in Copacabana, in front of the main commercial street with a lot of traffic.
The school was small, consisting of a reception area and a single classroom. Despite the gallery’s location, it did not attract as much foot traffic as I had hoped, but it was still acceptable. At the time, the gallery itself was a little rundown, but over the years, it has improved.
The school was a success in terms of people learning English and enjoying the ambience. The experience of attending a language school was not just about money but about the real quality of in-person classes. I have a unique and fun way of teaching and engaging the pupils in learning.
I consider myself to be a reasonably charismatic person and, being English, a little ironic, too. Putting all these qualities together with my English knowledge and clear teaching goals, the school became a powerful tool for people to learn, understand, and speak English.
Unfortunately, all these efforts were not enough to make it a financial success. It never achieved complete financial independence or 100% profitability. It was not economically independent and could not run on its own, which meant I could not be free to do other things.
I felt like I had become a slave to the school, solely responsible for ensuring its survival. There is a big difference between being a truly autonomous, independent business owner and becoming another presential employee of the business.
I found myself in a situation where only my dedication and hard work as an employee could keep it afloat. I have often wondered why this was the case. For me, it came down to three factors.
- First, maybe I was not prepared enough or did not have the necessary tools, skills, and qualities to successfully run the school.
- Second, luck may have also played a role, and I do not think I had much of it.
- Lastly, Brazil’s economic and cultural situation, especially in Rio, also contributed to the problems.
The last 20 or 30 years have been among the most complicated in Brazil’s history, and I was stupid enough to come to Brazil at that time. I also believe Rio is one of the least business-friendly state capitals in Brazil, with significant social, economic, and cultural challenges.
A fourth factor would be the Brazilian culture’s attitude towards English. Historically, Spanish and French have been more popular than English for distinct reasons. There is a kind of adversity in the Brazilian culture towards English that is exceedingly difficult to break.
So, financially, the school was never successful. I also always had to pay at least two monthly rents when I was married and three when I separated.
For about 14 years, I had to pay two monthly rents in the prime real estate area of the Zona Sul of Rio. One rent was for the school, and the other was for where I lived in Flamingo with Nalva and Yasmin.
This was a heavy burden, especially considering some people could not afford to pay even one rent in the Zona Sul. However, after a lot of hard work and sweat, I always found a way to manage and afford to pay two rents.
When Nalva and I separated, I moved to the north zone of Rio, considered a lower-class region compared to the south zone. The neighbourhoods in the north zone are a mix of middle- and lower-class. It was my first time living in this area, but I had to move there because the rent was more affordable.
At that time, I was paying three monthly rents: one for the school, one for Yasmin and Nalva to live in the South zone, and one for myself. My priority has always been working to provide Yasmin with the minimum necessities.
I lived in the North zone for six years. When you have such heavy financial commitments, having financial freedom and being just a normal person with a bank account, credit cards, and investments is impossible or tough. I was juggling money for the last 20 years or so, but now it is changing.
My new credit card marks a new period in my life, when I can do many things I have not been able to do for a long time. Besides managing my money, I will be able to build and preserve the patrimony I slowly deserve. And I really do deserve it!!!
I have realised that I am not a very materialistic person, but I do appreciate quality. I need to achieve certain materialistic goals before I die.
These goals are for me, not for others, including owning a motorbike and a house and having enough money to travel without worrying. Also, a car and a boat. Whatever I buy, I will use, not collect, store, or show off. These possessions are meant to be used, and if I am clever, they can even be used to make money.
So, I received my credit card, which was quickly configured, allowing me to use it. This has been very important for me.
Be kind and be happy, and if you can’t be happy, still be kind, but not naïve!
In bed by 10 p.m.
Thank you.
Thanks for reading this blog post. Please explore my other posts and share your thoughts in the comments section.
Richard
