When shopping for new clothing, it is standard practice to try the clothing on to check how it looks and how it fits. Deciding on which new car to purchase usually involves taking the car for a spin around the block.

In my seminars, I talk about the ‘point of business’, that is the exact moment in time when the transaction takes place.

So when is the point of business and what occurs at that moment in time? To illustrate the point, I offer the audience a single candy bar available by way of auction. Usually the candy bar sells for about a dollar, although some times the bidding is more spirited and it goes for a higher price. Discussion then takes place regarding what exactly happened. What occurred at that precise moment in time when I received the dollar and the participant received the candy bar?

The ‘point of business’ was when the participant decided that my candy bar was of greater value to him or her than the dollar in their pocket and when the dollar belonging to the participant was perceived by me to be of greater value than the candy bar. What happened is what happens billions of times each day around the planet.

However, lets consider some other possibilities. When offered 20 cents, I would not part with the candy bar and the prospective purchaser would have rejected a selling price of $10. The reason being was that the candy bar and dollar coin were perceived to be of greater value to their respective owners than the goods available for exchange.

Business only occurs when there is an exchange of value that is deemed to have mutual benefit to both parties. Although this sounds simple, it is a point that in my experience is not understood by many business people.

So how then do customers ‘know’ if there is value in the goods or services that they want need or desire?

One of the best ways is to let the customer ‘try before they buy’. Lawyers can offer the first hours consultation free to enable the customer to feel at ease with both the Lawyer as a person and the quality of their advice. A lawn-mower contractor can offer a free cut so the homeowner can check out the quality of the work and how well the lawn looks.

With products, businesses can provide free samples that enable the customer to try before they buy. Bakeries can provide samples of their breads and pastries in containers on their counter tops. Greengrocers can have small pieces of fruit available for their customers to try. Computer software manufacturers can offer 30 day trial programmes. Cosmetic and skincare retailers can supply ‘testers’ so customers can feel or smell the product on their skin before they buy.

In most businesses, there is some way of allowing your customers to try before they buy. This helps them more quickly arrive at the ‘point of business’, the point at which the product or service that you are selling is of greater value to them than the money in their pockets.

Many happy customer returns!

Graham Harvey APS