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How One Man Sparked Sales in a Slump
by Dien Rice, phd.
How would you sell 47 of these puppies?
Sometimes, a little creativity is what's needed to turn a "loser" into a "winner"!
In the 1950s, a man named Warren Lordly and his wife raised boxers - you know, the breed of dog - in the New York metropolitan area.
However, a business slump in 1952 caused sales to drop. His boxer pups weren't selling! In fact, he was left with 47 unsold puppies.
Then - Warren Lordly got creative. He tried an idea he'd seen with other products, but which he'd never seen with puppies!
He ran an ad in the local newspaper -
"Boxer pups, $10 down, $5 a week.
Free obedience training."
Free obedience training."
He sold out of his dogs in 2 weeks!
Since then, he sold out litter after litter of pups - using his innovative installment plan!
What ideas from other industries can you adapt to help you with your business?
(Dien Rice is a quantum scientist turned serial entrepreneur and runs one of the best free forums on entrepreneurship. He has posted his magnificently profitable insights on this blog before - here and here)
Action Summary:
(by Ankesh Kothari)
- Reduce risk by having an "pay-in-installments" plan.
- Give away a bonus for free like Warren gave away free training sessions. Many a times, people will buy because they want the bonus more than they want the product itself!
- Ask the question Dien asks: What ideas from other industries can you adapt to help you with your business?
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Posted on 11/03/2005 | Permalink | |
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