M1 M2 The Black Market

John Sullivan was once a promising owner of a small cell phone company. His company was based in Chicago home of the Blackhawks. He tried to promote his company to the Blackhawks and they laughed at him. John decided it was time to get a real job, so he packed up all of his cell phone stuff and put it in storage. He got a job at the Verizon store nearby his house so he could learn more about cell phone companies before he started his back up. John also liked going to the library to learn more about cell phone companies. Then one day he stumbled upon a book. This book told all about the black market. The black market had vendors to sell things needed in the third world countries. The thing that really stood out to John is the amount of money that all of the companies made from these third world countries. The owner would put about 60 thousand into the project and come back to America with millions sometimes even billions. John did as much research as he could on everything in Nigeria. He found out that there was no cell phone service that everyone could afford, so he decided that Nigeria would be where he starts his new company. He picked Nigeria because the government helped Pure Water, and he figured maybe they wouldn’t say anything to him. The government would examine the water before Pure Water would sell it ensuring that the water was safe, but the government never made Pure Water pay taxes or pay registration fees for becoming an independent company. This is what made John Sullivan really want to start his new company down there. He packed up his bags and headed out the door. He stopped at the bank to take out a loan for 60 thousand just like he read in the book. He then went to the airport and bought a one way plane ticket to Nigeria. He spent two days flying and changing planes until he finally got there. He had no idea where he was or where to go. He found a hotel to stay at and bought a room for the night. The next day he went to the U.S. customs building and got his working papers he needed to start working in Nigeria. He made a deal with the hotel owner that if he was allowed to stay there for free he would take care of his room and pay him when he gets his company going. John didn’t know where he should go from the hotel room, so he found an abandoned building and bought it. He purchased electricity for it and installed some computers and an assembly line. He took out his cell phone and thought about what he could do to make it more efficient and cheaper. He also thought that maybe he could make it more like a Tracfone. This way people could pay for what they need and what they don’t use will be carried on until they need to refill their minutes. They could make calls all around the world, and the phones would be made out of cheap plastic and it wouldn’t break. John drew up all the specs and hired someone to build it. Then John bought a bunch of machines so he could build them more efficiently. Then he had to hire street vendors to sell the phones and the minutes. After only one year of selling his phones and minutes in Nigeria he made 2.4 billion dollars. He kept opening little stores all throughout Nigeria providing phones and minutes to everyone for a reasonable price that people can afford. That is the story of John Sullivan.