Thursday, 21 August 2014

Selling Pot - Location, location, location

Selling Pot - Location, location, location
21 August 2014

We’ve all heard to the old real estate adage – location, location, location.

Now presumably, this does not only apply to buying a home.  It stands equally true, for retail shops, businesses, factories, offices, etc.

So, let’s assume, that you’re into sales.  You need to look at your target market demographically.  Who are they?  What are their ages?  Where do they congregate?  What are their needs?  What can you supply them with?  What are their habits?  What is their budget?  Their socio-economic status?  What do they need?

I reckon you can tackle the problem from two angles.  From a retail point of you, you either start off with a product you believe in, and that you need to move, and then you look at your market, and try and make a match between product first, and customer later.  Or, alternatively, you start off with a gap in the market or easily identifiable client base, and you come up with a solution, to fill a need they don’t even necessarily know that they have.  A product you can supply to them.  Hence customer first, and product later.

It’s the classic equation of supply and demand.  And it’s as old as the hills.  Maybe even before that.  It is the basis of all successful financial models, leading to true fiscal success.

However, you don’t need a degree or two in economics to grasp this principle.  Even a child can understand this.  Or, more importantly, a child’s parents.

So, take a thirteen year old little girl.  A Girl Scout, no less.  And we all know that they have this thing for selling cookies.  A fund raising initiative I assume.  Most likely it gets hell of a competitive.  And the kids are each given an allotted amount of cookies they have to sell.  Sort of target setting if you like.  Classic sales incentive.  Perhaps one of those sell-the-most-cookies-and-you-get-a-really-cool-badge-for-your-shirt, or campfire blankie.  They do that kind of thing.  Been there done that – had three kids that did cubs, and even one that ventured into scouts.  I have to wonder how many parents simply end up buying the whole lot for themselves.  Way easier than traipsing around, door to door, pawning them off on to your neighbours and family members.

But then, we got an out-of-the-box-thinker.  Yip, our entrepreneurial thirteen year old.

I would like to assume that she chose her location on the behest of her parents.  And that she didn’t just have this random knowledge on her own.

She set up shop, outside a legalised Pot-Shop in Colorado.  I swear!

The little cherub supposedly sold 117 boxes in two hours.  So I’m thinking – a huge influx of happy customers left the Pot-Shop, sporting a monster case of the munchies.  Clever girl.

Sadly for her, the word got out.  And underage peddling of Girl Scout wares outside deemed unsuitable potential selling points like Pot-Shops, casino’s, liquor shops, strip joints and bars, have now been curbed.  In fact, it’s been prohibited.  Vetoed.  Formal statements issued, the whole lot.

And I must say, I completely understand.  It is all rather unsavoury.  And I wouldn’t like my kids to be exposed like that.

Still I find it really funny.  And really clever.

It’s obviously true what they say – location, location, location.  It is everything!

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