The Invisible Hand
"Give the markets what they want. And if you don't, the invisible hand will slap you in the face. If you do, it'll pat you on the back.” Dr. George Gillen, discussing Adam’s Smith’s economic market theory
We’ve found this to be true no matter the economic climate. Yes, it’s much easier to do business when money is flowing in abundance. But, there is no place on earth that’s like that today, save for maybe a private island owned by a billionaire.
The markets pay you for what you offer. If you have an amazing offer with a great product or service, you will have customers. To retain and maintain a relationship with those customers, you must prove your relationship on the backend.
In other words:
- Your product must do what you said it will.
- You must have wonderful customer service.
- And you must offer a fair value.
If that formula is in place, then you will succeed over time.
However, if one of those is out of place, let’s say your customer service is lacking (aka sucks). Then prepare to get a boost of customers, but then they will never return and they’ll tell everyone they know to avoid you.
You may have a good business for 6 months, but then the invisible hand of the market will slap you upside your head.
(photo via bk)
Posted on January 21, 2016
by Tim & Tommy filed under