| | | I oversaw my VP of Sales and Marketing for many years. However, I was a far better salesperson than he was.
I was so trusted by my customers that whenever I said they should buy something from me, they did.
One of the largest retailers in the US allowed me to set up entire departments of products for them. I selected my products, but also lots of products from my direct competitors. The aim was to get them the best products and the best sales and margins in those departments.
Once you have that trust, great things can happen. I never betrayed that trust for my own gain. However, I always made sure my products were incredibly competitive, great quality, and priced to sell.
I often times got stunned looks from buyers who said they wanted to buy something from me, but I told them it wasn't good for their business and they shouldn't buy it. I would then give them the case for why it wouldn't be good for them.
I don't think anyone ever did this. However, it wasn't all altruism. If I sold them something that sat, I looked bad, and their inventory would not turn. In the end, maybe I would have sold them something, but the opportunity cost was many times greater than whatever I would have gained.
It was good business, but it was also good ethics. My reputation became such that anything I suggested someone should buy, they did. The inverse was also true.
Many of these people I was working with are billionaires today. Some were when I was dealing with them, but the common theme there was mutual trust as well as mutual respect. That went a long way. |
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