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Vikas Kamat
 Vikas Kamat is a programmer- entrepreneur living in Birmingham AL. This blog is a complex mix of Indian culture, life in southern USA, computer sciences, and sports. Opinions are his own.
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Out of Stock Items on Sale Durable Link to this BLOG
Business Wisdom from the Trenches

A businessman has written a thank you letter (yes, a letter, as in with paper and pen!) for the business tip I gave on how to handle more customers than you can, and asked for more such tips. So here it goes:

When you don't sell something, sell it for a song

My family has sold clothes for over a hundred years now, and it is mandatory for boys of the family to serve an apprenticeship in the shop. This happened when I was twelve years old - One villager bartered very hard to bring down the price of a saree. He claimed that the same saree was being sold for a lower price in a competitor's shop.

The Customer -- "Can you reduce the price of the saree to 30 bucks please? That's the price in the other shop on the next street".

My uncle --"No Sir, they may appear same, but our product is of higher quality. We sell it for 45 bucks to others, but since you are a regular customer, I discounted it to 40"

Customer --"Can you reduce the price of the saree to 30 bucks please? That's the price in the other shop on the next street".

My uncle -- "Why don't you buy it there then?"

Customer -- "He is out of stock today".

My uncle -- "Oh! When we are out of stock, we sell this saree for ten bucks!!"

See Related Topics:

• The Story of the Saree
• Stories on Saree Selling at Kamat Shop.

(Comments Disabled for Now. Sorry!)First Written: Tuesday, July 16, 2002
Last Modified: 1/24/2003
Tags: bizwise

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