Greatest short business advice i received ever!

anwebservices Level X⁵

July 3, 2016, 6:13 pm

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Greatest short business advice i received ever!

Hello there. I just want to share with you one of many advices i received in my life regarding business. This one was, short and honest, but turned my business into nice success.

About 8 years ago i decided to open my coffee shop. After i failed badly with previous "snack bar" i learned my lessons and i wanted to use my experience, so next on my wish list was coffee shop.
While i was setting up the shop, local manager of large coffee suplying company come to visit and see how it's going as i asked for some start up discount and free coffee machine to use for at list some time. Tony was so friendly man, we talked for an hour like true friends and he was asking me what is my plans and how i imagine to run such business. I explained all my visions and thoughts for future of my business. He was very pleased with what i said. But at the end he told me something that literaly changed my life, not for operating coffee shop, but to apply that idea to any future business.

He said:

You having such good vision like you are in this business for years. Your shop is set up nicely and looking attractive. You going to offer all nice things here. You bought very nice furniture.... BUT you missing something my friend. More or less you still offering something that exists around this city. Don't forget that you can't buy customers!!! Literally you have to steal customers from your competitors, so you have to offer something that nobody have to get attention and more customers, to win with this business!

At first i laughed politely

But it made me thinking for hours and hours how right he was. Then for couple of days i was thinking what else i can offer to really steal my competitors customers, because it was true that i am stealing them.

Back then it was not very new thing but was rare, so i go for it. I printed out very very nice business cards with little boxes at the back where i could put stemp after every coffee i sell, then after every 5 coffees people buy they receive FREE COFFEE AND MUFFIN. At first i thought i will just try that and see how it goes. But gosh... I had rows of people standing there to buy coffee and waiting for that stamp. They turned into my regular daily customers just because by friday morning they could enjoy free coffee and home made cake..... That advice made me happy and from it's start it was very busy business, until i sold it...

If you have another nice story or advice to share, it would be nice to hear.

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CryptoGuru

I love this story man BRAVO, Good for you. If i was you and i made some steady income like this i would look to see if i could cut any unneeded cost down. Another successful marketing strategy is creating a raffle, Find something your buyers would enjoy buy it and sell tickets. When you have sold enough tickets you can randomly select one and give the price away. Then in addition you can make that client take a picture with the prize and start a "Winners Wall" so future clients will invest into tickets. Congrats again my friend great story!

8 years ago

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anwebservices

Yeah actually raffle tickets was on my mind all the time. Problem is that many charities were coming and asking to sell their raffle tickets in my shop to support their receivers and i let them do it as i appreciate it, but i didn't want to compete with them in my own shop

For my best returning customers i was organizing small presents for Christmas day and it was awesome pleasure for both of us. And "word of mouth" advertising after that was very good in return

8 years ago

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TommyCarey

You can go one step further and tailor your PPC and marketing campaigns to target your competitors domain and businesss name as long as you don't add it to your ad lol

I've done this a few times and it's worked pretty well each time. Fore example: if you were still selling coffee you could set up a PPC campaign and use "starbucks" or "starbucks coffee" as some of your keywords and siphon people from them because your ad will possibly rank for those terms and people wanting coffee may see your ad and want to try you out.

You have to make the experience memorable. Having a great marketing campaign and selling something that isn't great won't last very long. The reviews alone will kill your sales because most people now search yelp and other review sites prior to making a decision on where to go.

I've gotten some good advice in the past. One of the pieces of info that I got was from my friend Dan and he said "Breaking even is still worth it" and he said that because when you're doing an advertising campaign or event and you pay lets say $500 for them and make $500 you are breaking even, BUT you're building a down line of clients and there's a good chance that those clients will refer their friends, family, or become an affiliate. So now when I'm looking to purchase an ad I'll look to make at least the amount back that I'm paying for it. I've seen plenty of my ads break even and then the next month they're doubling my profits and then tripling the third month. So if I pay $100 for an ad I hope to make $100 back from it and then I'll sometimes make $200 the second month and $300 the third month

8 years ago

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Lynne

Yes Razzy, I found that too with my online store. The first few ads don't make any profit but customers come back if you give them value for money, quality products and great service the first time and like you say the best advertising is word of mouth.

8 years ago

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Everett

Yes! Breaking even is good, as those customers are now aware of your business. Eventually they will go back, and see what you have to offer, and may possibly buy from you. Even if you don't break even, at least someone saw the advertisement, right?

8 years ago

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EliteWriter

That was a great idea. Customers love freebies. Many business people and owners think that they are going to lose money as they only think about the cost of the freebie, but you need to think in the long run you are going to get many more customers who are going to regular ones. So that definitely makes up splendidly for the cost of the freebies.

The advice I got was from a fellow writer who gave me some good tips on how to start off writing articles online. I never worked online before and his tips were indispensable for me to start off.

8 years ago

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Lynne

Yes everyone loves a freebie. I think this type of marketing is excellent because it offers something of value in return for loyalty.

8 years ago

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cdrocks

Yes, advertising that you have something unique going on is what you did in my opinion. I help manage my girlfriend's bed and breakfast in a highly competitive tourist area and learned that in order to attract customers, we had implemented the same kind of strategy to attract customers. The big misconception is that you always have to drop your prices to attract new customers. We just offered some extra things that other places didn't offer and then raised out prices and advertised wherever we could. We gained quality upper-class visitors that took care of our place once they arrived. As opposed to attracting a cheap crowd that doesn't care as much about your place and usually leave it a mess.

8 years ago

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anwebservices

Well done. Happy to hear another success story. Just to mention to new comers that you don't have to apply this incentives all the time, but in beginning while waiting for initial and regular customers you have to think "out of the box" to get your business started, after it's much easier to go by...

BTW congratz cdrocks

8 years ago

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Lynne

You are so right, giving a better price doesn't always do it and the biggest problem with dropping your prices is because that is how most companies try and do it. Have something a cut above the rest and it will be noticed. I have found that most people really don't mind paying for quality.

8 years ago

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anwebservices

Thanks for such response. I was always against rewarding customers with cheaper and cheaper prices until you hit the bottom, because our daily life expenses rising all the time, so where are we going with cheaper jobs? I would always rather offer better quality, extra job done or something like that. i know other people think different, but this is ME

8 years ago

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ajlancer

Hi anwebservices thanks for sharing your nice experience. I have learned each and every day from more efficient person, who establish his own ways. And your friend advice was really great. And still I believe one thing can change your life anytime. You also good person who follow that mentor advice like do something out against your competitor. Really it needs to do feel different and think different and you may success by anyways. I believe also to do think different ways. And that is why now I am freelancer and doing different job, which not like ordinary. And I remember about my one uncle who serve in Bank as manager, And after having my graduation I met several time with him to get suggestion, And he always said one things like 'time is money'. It is meaning that you do not have time. Need to thinking always need to do anything be a success. And that one word always inspired me to give time over 15-18 hours in a day for my freelancing career. And maybe that is why I am in here now. And feel success.

Regards by Ajlancer

8 years ago

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ProAdvert9

Very nice story and a very important thing to learn: steal customers from your competitors (there are lots of ways for doing that)...

Thanks for sharing!

8 years ago

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anwebservices

Yeah, important thing to remember even for online work mostly. Sound awkward but it's true, you can make new product or service, something that nobody have, but you can't make more people who will buy it, so you have to beat competition to win

8 years ago

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Lynne

Thank you for sharing this, what wonderful advice. This is something I am going to be thinking about over the next few days while I travel with my kids to visit my parents for a few days.

You are 100% right about this, you have to offer something unique that people want to get the customers.

8 years ago

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RaduV

I think innovation should be the keystone to every business. Usually, when you sell the same thing as your competitors to the same customers without adding anything knew you should not expect much.
Change the colour, the design, the taste or even the smell of your product and you may have a better chance. I can give you an example, i live in the suburbs and there is a trend that everybody should be a grocery store owner. You will find that at some point i had 8-9 small shops + 2 supermarkets in an area of 5 blocks and about 1000 inhabitants. I mean, it's a bit too much.

What's more interesting and curious at the same is that every now and then, these small stores get closed and right next to them someone else it's opening a similar store with the same products. And the cycle is repeated, they last for couple of months and then again, they close.

I would say that you have to chose your market properly, be innovative and try to keep things simple but with a twist.

8 years ago

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Corzhens

I am currently employed with the largest bank in our country which is owned by the tycoon who owns the largest mall chain. In one speech, the tycoon said that business starts with honesty. That means you should never fool around with customers and prospects because business is a serious matter. That’s the advice he gave us that I still candidly remember. With that, I have been honest not only in my business dealings but with every activity and undertakings that I do.

6 years ago

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jaymish2

I also love this advise.The guy that gave it to you was a god sent. I agree that when you start selling any product it may be a common product but it needs to be different. I think that this is the vital and important point we all miss when we enter into business, yet it is the make or break for any business. I think that is why sales work so well, however now everyone is doing sales, so we all need to find a more innovative different way to offer the same products.

5 years ago

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SEOClerks

Greatest short business advice i received ever!

Greatest short business advice i received ever!

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