I’m sitting here at a Starbucks, talking to a barista who tells me no one has complained about their recent price increase. Want to guess the reason?
I’m guessing it’s the same reason people decided to pay $3 for a latte in the first place. Starbucks made themselves into a commodity many wanted.
I was watch the Biography show on Sam Walton on Friday and one of the gems I took away was that he was always working on ways to make his store more profitable. Always. It became an obsession. But it made him the most important marketing genius of the 21st century. He made his Wal-Mart a commodity many wanted.
There are two things you can do with that information.
1. Every moment work on self. Make yourself someone people want more of. What would a group of people that know you – say about you if interviewed by your enemy?
We all loved to be around Bing Hare (that’s his real name) when I was in high school. He was so cool and could do cool things like walk on his hands, play a mean game of basketball, volleyball. He was a gentleman, so polite. All of us loved to hang out with him.
2. Make your business more profitable at every chance. Remember that it’s your business. Ain’t nobody going to work it for you. Plan sales, drop prices, go after repeat business. Make your business a commodity – that everyone wants. Be the best at customer service.
It’s slow here at Starbucks, but not because of drink prices. It’s dinnertime on Sunday night. People will pay for quality and being treated nicely.
We’re off to see Under Dog. Starts in a bit. Just remember to try one thing this week. Make one small change toward being the best.
And be like Bing. Watch your business and self confidence soar.