The big boy of all big boys, Wal-Mart, tops the Fortune 500 . . . again. 5 out of the last 6 years Wal-Mart was “officially” crowned the largest company in the US.
In the late 80s and early 90s I worked as a manufacturer’s rep. I sold jewelry, watches and sunglasses to Mom and Pop retailers in small towns throughout Texas.
How a Skinny Kid Helped Mom & Pop Retailers Survive Bad Times
I’m sure you remember how Wal-Mart was grabbing the wallets of these small towns back then. It was like a 7 foot shark chomping through a school of wounded tuna. It was a blood bath.
Lot’s of retailers were darting around looking for some way to survive. Many didn’t.
Here I am a skinny “kid” trying to sell these wounded, spooked shopkeepers my products. It was tough and I wasn’t doing very well.
Sometimes I would drive into a small town and go to the square downtown. I would look at the rundown shops. Then I would drive around a couple of more times trying to work up the courage to talk to one of these shop owners.
I knew they wouldn’t buy from me. I would give up before even getting out of my car. Then I would drive on to the next town.
I had to think of something fast or I was going to be out of a job.
Little did I know I was about to learn a secret that would help retailers get fat while others were getting eaten. This secret has helped me a great deal over the years. It can help you too.
The Secret I learned that Made Retailers Fat While Others Were Eaten
One day in Del Rio, Texas I got lucky. I went into a jewelry store.
I was showing them everything I had. It wasn’t go too well. I’m getting ready to leave with my tail tucked between my legs. I’m walking out the door and I mutter (almost to myself) about an idea for promoting her business.
The owner asked me, “What did you say?” I turned back and faced her. I repeated the idea.
Then she got excited.
We went over the details of the promotion. She was going to be able to dominate her market just in time for Mother’s day with this promotion.
Later she told me it was her best promotion in 10 years of being in business. Plus she bought a ton of my products because of the promotion. I made the largest sale of my early career that day.
The lesson? Solve your customer’s largest problem and you’ll sell much more than you could ever sell shouting about how great your product is.
Do you want to know about the details of the promotion and why it was so successful?
Tomorrow, I’ll spill the beans and teach you how to put this promotion into action. Stay tuned….
The Power to Fight the Big BoysWal-Mart #1 on Fortune 500 - Fighting the Big Boy of All Big Boys by Doug Stewart