Hard business
I was in London at a HiFi trade show this weekend, talking with a colleague about a business leader we have both admired for several decades. Realising that the person in question must be in his mid to late seventies, we looked back at his successes and made a kind of mental list of what we thought it was that made him stand out from the crowd.
We agreed on the following:
- He is extremely likeable. With a broad grin, his smile always disarms you.
- He always remembers a name – even after years of absence.
- He always had (and still has) incredible energy: full of unstoppable enthusiasm for his products.
- He designed and produced products that were (and still are) incredibly innovative.
- His name is his brand.
- His pricing has always been high, much higher than his competitors
- His procurement philosophy has always been to push, push, push for the lowest price possible, often complaining that he is paying way too much for his components, even when they are but a tiny fraction of his retail price.
- His mantra (unashamedly): ‘buy low, sell high’.