Your Clients Know More Than You Do
I saw this fun video on YouTube and laughed out loud (no, really), but half-way through a business lesson popped into my head and kept scratching away until I wrote it down here. Watch the video now (make sure your speakers are on) and see if you can see it too.
Please make sure you’ve watched it before you carry on now otherwise you may not understand what I’m referring to next.
Business Lessons Are Everywhere
If you’re anything like me, you’re cursed with a part of your brain that never stops analysing the interactions around you. Business is problem-solving, right? So what was the problem in the video? Yes, you have it – this lemonade seller must be the dumbest merchant in the world! No wonder he’s still selling lemonade on a stand. Here he is, with a customer coming back to him with a clearly defined need. This duck wants to buy grapes; why is this guy still insisting on selling him lemonade? It would be easy to get some grapes in, mark them up and make a tidy profit the next time the duck comes by. Instead, he gets angry with the duck! What on earth is he doing?!
Then comes the real kick in the pants: when he does supply (one) grape, he fails to make a profit or to capitalise on his loss-leading grape by selling him some lemonade. A great opportunity to upsell, missed.
The Next Step
Okay, it’s just a fun video. I get that, but the pursuit of success is the pursuit of excellence and mastery. If we want to master the craft of running effective businesses, we must be constantly attuned to opportunity. Next time you have a customer who repeatedly asks for an item you don’t stock, consider that there maybe a healthy demand for that product. Maybe you should stock it. Then, don’t miss out on opportunities to upsell or cross-sell. It’s not about exploiting your clients, it’s about giving them a more complete service. After all, once that duck had a grape he needed some lemonade and it’s the seller’s duty to anticipate that need.
I hope you enjoyed the business lessons, but if you didn’t you must have enjoyed the song!