15 February 2010

Being Early - Live Example

Today, I went for an haircut which was long due. The last night, I planned to have my haircut in Naturals and I called them few times in the morning but no one was there to answer. I wanted to try my luck by directly going to their salon. I went there to only see the shop not yet opened. There is a Green Trends salon very near to Naturals and I thought I could make an appointment with them at 8.30 am. I went there and asked whether I had any free slot in the morning.

To my surprise, they said they had free slot immediately. At 8 a.m. I had my haircut and never even looked back Naturals. In Green Trends, I found at least 10 customers. If these 10 customers visit them 10 times a year, they easily make 100 more sales than Naturals. If they work on their net margin, they are more profitable than Naturals. While I was having haircut, I was deeply thinking about being early and how it helps in business. Both the salons deal with people in the higher income range. Green Trends seems to understand the importance of being early (everyday) and Naturals needs to learn a lot in being early.

This is again an example on how being early helps in business. This example can be extrapolated to any industry. Being early always has an edge over being late. It was a good learning experience today.

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