Living near a small, quaint village has given me the inspiration to write this blog entry. First, allow me to paint the picture of the village. There is a private, liberal arts college just outside the village boundaries which has helped to create a cultural aspect to the community. Many small shops line the village green and surrounding areas. The culture and shops make the area very reminiscent of quintessential New England life. I often walk around the village and have observed an ebb and flow of daily business. In these reflections, one aspect is easily seen - it amazes me how many business start with fanfare only to close in defeat after just a few short months. After watching and reflecting on this, I believe there are business acumen lessons for all of us to learn. Here are my thoughts on how two of these businesses could have had a different outcome…
A pizza shop/cafe across from the community school seems to have a good shot at success. It is a very central location and the high school students are allowed to leave the school grounds for lunch. Looking for something different for dinner one night, we decided to give the new place a try. The interior was nice enough and though still suffering from a little nervousness, our waitress was mostly pleasant and efficient. The food was decent – not great – but good enough. So what stopped us from ever going there again? As we were eating a group of teenagers came in with the owners’ daughter. I know this because the owner pretty much stopped everything to talk to her daughter. The daughter proceeded to handle food in a case without washing her hands or donning gloves. Of course, being teenagers they were not quiet. Then all the kids went back into the kitchen. It was a repulsive situation and we never went back. Needless to say it was not a surprise to see the restaurant closed within just a few short months.
Business acumen lesson #1 – while they might be your family, they are not my family. I am paying money for your products and the experience of being at your establishment. As a businessperson, regardless of the size of your company, your first priority must be your customer experience.
Moving on to the next example, in my daily walks I always went by the shops on the green. One such shop was a cute boutique aimed towards the young women of the community. I would have stopped in just to check it out but it was always closed. The hours posted clearly indicated that the shop should have been open but invariably the lights were off and the doors were locked. It’s an interesting business model to think you can create a beautiful shop, post regular hours and then lock your customers out! Of course it is not surprising that this shop failed even quicker than the restaurant.
Business acumen lesson #2 – It’s a business and the goal is to create loyal customers. To do so, you have to build trust by standing by what you advertise. If you say you are going to be open, be open!
Of course these are just a few examples of the lessons to be learned. I think the important thing for all of us to realize is that we have to put aside our personal business priorities and make the customer experience first. Don’t keep your potential customers on the outside looking in. If you do, even the biggest and best grand opening will still lead to dead end.
Disclosure of Material Connection: I have not received any compensation for writing this post. I have no material connection to the brands, products, or services that I have mentioned. I am disclosing this in accordance with the Federal Trade Commission’s 16 CFR, Part 255: “Guides Concerning the Use of Endorsements and Testimonials in Advertising.”
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