OK Mal.. Show me the money…

I’m often asked that question and I’ve become a legend in my own lunch box for doing just that to more people than most can lay claim.

 

Maybe you’re one of them or maybe you’re in transit?

This strategy is so good that if you apply it the way I’m going to describe it, it may very well send you broke. Or better still, monstrously rich…

 

I’m visiting one of my favourite parts of the world and it happens to be right here in Perth. It’s called “Spring in the Valley”. There are some of the best wineries and restaurants within a stone’s throw of the Perth CBD. You can even get Margaret River Chocolates and if your palate so desires, try some German Beer.

 

Now in amongst all of this, not far from the Margaret River Chocolates outlet, there’s a sign on the road that reads “COFFEE TASTINGS”. Of course they’ve borrowed that term from the wine industry and to great effect.

 

The company is “Yahava KoffeeWorks” and they “source and enjoy access to small quantities of some of the world’s rarest and finest beans which they make available to their most discerning coffee enthusiasts.”

 

They first opened down in the Margaret River region and now they’ve bought it to Perth in the Swan Valley.

 

What a perfect way for customers to try different roasts from around the world and guaranteed they’ll leave with something, even if it is just a take-away cappuccino.

 

That’s called going to the market and finding a new market for what’s already worked elsewhere or the cookie cutter process… systemise and duplicate. It’s how to make an ordinary business extraordinary.

 

I mean give me a break – it’s not as if you can’t buy a cup of coffee within a minute or two of each other in Perth. But people are travelling 20 to 60 minutes just to taste coffee. Better still, they have a heap of add-on cross sell products on offer like coffee cups, slogan t-shirts, coffee beans, etc. Few people escape without spending up on stuff they never intended to buy. What they’ve done is invite you in for a free sample – a “try before you buy” or the “puppy dog close”. In fact that’s where I got my 4-legged girlfriend from Smudge – the dog refuge.

And here was the deal…

 

Take the puppy dog home for the weekend. If you don’t like the puppy dog, bring it back and we’ll destroy it. Truth is, the refuge where I got Smudge don’t actually destroy the dog at all but if for some reason you didn’t like the dog or it didn’t like you, you can pick another one and here’s a true story…

 

I picked up Smudge from the refuge about 7 years ago on a Saturday morning. By the evening, I decided to introduce Smudge to the white, sandy dog beach in front of my house and here’s what happened…

 

There’s about a 300 metre trek through the sand dunes to the beach. As I reached the sand dunes path, I let Smudge off the lead. That’s when I thought I’d seen the last of Smudge. After being locked up for several months, I suspect Smudge was like a little kid in a toy shop. I buzzed my wife and said “Darling, I just lost the dog… but I will head in the general direction in the hope that I can pounce on her and get her back on the lead.”

 

On reaching the beach, I saw a black dot in the distance licking everybody and everything. Phoned my daughter and said “Honey I need you fast! I won’t be able to catch the dog but you might”. You see there’s no hope Smudge will listen to a word I say because we hadn’t connected.

 

Anyway, my daughter did catch Smudge and my wife even joined us on the beach for our “first family” outing.

 

Making our way home, I spotted Smudge had worked up a limp. By that evening, even though she was only 15 months old, she was moving like a 70 year old. Gave the dog refuge a call on Monday because nowhere in her CV was there a mention of an injury. Their reply…?

 

“Bring her back and pick another dog”

 

Now that wasn’t going to happen. At this stage we were starting to grow fond of Smudge – even felt sorry for the fact that she was injured, and all this was in spite of the fact that within a week or two she was being operated on for a degenerative hock and a floating bone chip. $2000 later…

 

It is one of the most powerful strategies on the planet. Give away your product, get it in the hands of a prospect and client and if it’s as good as you say it is, a number of them will come back time and time again.

 

I coached a company called “Sweet Lips Fish & Chips”. When they called upon my services after being frightened to bits when they heard Kalis Bros, a company that own their own fishing boats, was opening within 100 metres from their shop.

 

My advice took them from $7,000 or $8,000 a week to $20,000 plus per week and that’s in spite of the biggest competitor you could possibly imagine opening literally next door with an unfair advantage. Last I heard Steve and Michael had opened a second store in Fremantle and were negotiating a licence to Singapore.

 

And guess what the number one strategy was…?

 

43 times a week, they gave away tastings outside their fish shop. Why 43? It worked so well we rostered it on as a staff requirement. In fact, squid rings went from a few kilos a week to 50+ kilos per week.

 

Interestingly enough, some of the other eateries and competitors on this busy strip asked Steve and Michael if this “puppy dog” strategy worked, to which they replied “Yes!” and believe it or not, not one single competitor to my knowledge has tried it to this day, even though they’d witnessed first-hand its success.

 

Can’t remember who said it – it was probably Earl Nightingale “Only 4% of people act upon a solution to a problem when presented with it”. I’ve seen this solution work time and time again in industry after industry with great effect.

 

There is a catch however…

 

If your product or service sucks, it will speed up how long it takes for your clients to find out you are no good and it will send you broke.

 

All the best,
Mal Emery

 

Committed to Elevating the Financial Wealth and Wellbeing of Society
Through Entrepreneurial Excellence and Guilty of Conspiracy to Create Capitalism

 

P.S. If you’ve missed any of my previous Rants, I have them all available for you to see on my website.
Simply go to www.rebelliousrant.com and enjoy!

Posted on November 11, 2009 - 08:56 PM

- Updated on November 11, 2009 - 08:56 PM


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