Business Lesson from a Milk Vendor

 

Business Lesson from a Milk Vendor

 

I was taking my morning walk on the main roads of Banashankari in Bengaluru, I noticed two Milk Vendors who were getting prepared to start their early morning milk sale. The first Vendor was unloading the milk from the van and within few meters the other vendor was doing the same. Once I completed my first, when I was returning for my second stretch, I saw the second vendor was arranging some Bread Packets, Cheese, and coconuts in his Kiosk, I just crossed his outlet after seeing those additional products and found something interesting in his line of products. After few minutes when I crossed the first vendor, I saw him waiting for the customers to buy his products.

 

I just took a coffee break in a restaurant which was aromatic and inviting, while I was having my coffee, I was comparing both the vendors approach and decided to speak to the second vendor, I just started walking and approached the second vendor by asking the reason behind placing bread, cheese, and coconut. The young man replied, generally bread is either sold in a bakery or a grocery stores, who normally opens after 8 A.M, but today people are leaving the office early and found there is a need to sell bread early in the morning and hence I decided to sell bread and It is getting sold. One day a customer suggested to also sell cheese and hence I started selling cheese too.

I asked him why you are selling coconuts “He replied there is a temple next to my shop where people come for morning pooja and I found there is a need for it, some buy it for making coconut chutney too”

After listening to him, I was mulling on his business model and I learnt the following lessons

1.   Keep adding relevant products to your line of business- Milk, Bread and Cheese

2.   Understand the market functioning -Grocery and bakery working hours

3.   Identify the gap to create needs -Grocery and bakery do not open before 8 A.M and hence fill the gap with what is needed early in the morning

4.   A happy customer is an unpaid salesman as well as an unpaid consultant- Cheese being suggested by a customer

5.   Cater to your surrounding- Coconuts for Temple goers

6.   Know what your near by competitors are doing- Vendor-1 Should have walked few meters to saw what vendor-2 was doing

 

Observe small things around you to get inspired and innovate in your business

M.L.Narendra Kumar