Thursday, November 5, 2015

A 3-MINUTE PITCH - THE TRAFFIC STOP HAWKER APPROACH




To many people the traffic stop means very many different things. Are you in the driver’s seat? Hold it! Yes, a traffic stop means more than one thing. To one - a stop and to another ‘time for action’. Yet, right now it is about to mean a whole article to you. Can we for a second leave the driver’s seat and take a seat at the back of the car?

Are we there yet? Great!

“It was 6:38am, and need I say that I navigate this route every day of the week to get to work early. Just as I slammed the brakes, the corner of my eyes caught this young man who had about a dozen watches in one fist - arranged in a manner that with a slight turn, your eyes would catch whichever of the watches he wanted to sell you.

The other hand he used, both to gesticulate and get some attention. So as he approached this car in front of me, he turned his fist slowly and intently. Unfortunately, the driver, his buyer did not fancy any of the goodies in that fist. Seeing this, while taking quick glances at the traffic light, he dug his other hand into his pocket and it emerged with one watch. This time his buyer could not take his eyes off. Seeing the buyer’s reaction, our traffic hawker kicked off a negotiation. At this time the buyer had reluctantly wound down his side window. After what I believe was some price tagging, the seller beckoned to pass the watch into the car through the now more open window. Buyer had the watch in his hand, evaluated it more and just then…

The red light gave way…

Buyer had watch in his hands. Was stuck on what he had seen and was now holding. Seller made to stretch his hand into the car and I was expecting that he would take back the watch and not let his buyer delay us from ‘obeying’ the traffic light…instead it was a fist full of Naira notes. The traffic hawker had made a sale”.

Thoughts from the actions of the traffic hawker
  • There were at least about fifty cars held back by the traffic light but the hawker choose that one - maybe the nearest to him or just the first on the long queue of cars. Whether it be based on deep analysis or intuition, Take those steps towards the next thing.
  • He turned his fist to watch the reaction of the driver to his stack of watches while being friendly with him and was sensitive enough to know when the driver didn’t find his conversation interesting, reached out for ‘the better watch’ and then regained the driver’s attention.
  • He was smart enough to keep the price at a ‘win-win’ point and sealed the deal at the best price considering ‘other things’ with his keen gaze on the changing traffic light.

CONCLUSION
  • Do your research, test your markets and employ even your sixth-sense to study your customer’s body language.
  • Swift body language hypothesis and analysis is key to a successful product management, customer acquisition, investor buy-in etc. Have your A-game right up your sleeves.
  • Know when to skillfully slide into your target’s territory. Be emotionally intelligent.
  • Be mindful of the timing. Make it concise, bespoke and be focused on the broader picture.
  • Find the traffic stops and while at it decipher what the lights mean to you, your competitors, your customers, your investors, your staff etc.
 Would love to read your thoughts and other ideas this story has generated.

 #Strategy #Culture #Startups #Entrepreneurship

ABOUT THE AUTHOR:
Privileged to have worked across the high-capital construction, fast-paced e-commerce & the precision-driven outsourcing industries; 'Kayode KOLADE is a Business Strategist and Project Manager with experience in People, Process & Operations Optimization, a Soft Skills Trainer and Mentor with a creed to continuous improvement. A Fellow of both The Institute of Leadership & Management and The Learning & Performance Institute. 

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