As investors I believe we must understand the …
Push Me Pull You Principal.
What is it? well I will get to that.
I have mentioned before that I spent 32 years of my life in manufacturing. Looking back although successful I now realise I restricted my income by preconceived or accepted ideas that totally missed the point.
We can all focus on our goals and rightly so, however sometimes our drive and single mindedness can cloud the bigger picture and restrict our true potential.
For example …I was the owner of a very lucrative patent that earned my company (me) a useful income and credibility within the business I was in.
HOWEVER I did not really cash in on this for several reasons…
An amalgamation of much larger companies with a combined turnover of over 1 billion per annum decided to break the patent by contesting it.
They came unstuck… because they underestimated the financial reserves my company had (our turnover at that time in the late 1980′s was 7.5 million not much compared to I billion but read on) …
And Worst still for them….
they did not realise that while the case was being considered I added the legal costs to the product price ….plus a bit….This process took over 3 years. During that time they were precluded from making the product unless they wanted to run the risk of paying damages for loss of income etc.
Here is a case of push me pull you….there are other scenarios to consider …more later…
They tried to out trade my company by pushing their objectives and using bully boy tactics that eventually cost them…
They paid considerable legal costs (to give you an idea in the late eighties the barristers were charging 40K PER DAY plus solicitors costs at 15K per day during the hearings)
In the end we agreed on a Mexican stand off….. The patent was conceded but they paid costs.
What did I lose???… the patent…. which was spurious anyway most patents are….
My company had three years of unopposed competition to sell a product that was always open to being designed around … They paid the costs for this and opened the market for all comers and have since lost any chance of exclusivity.
So What is the point of all this
(Patent insurance I hear you cry…trust me don’t rely on it…If you would like to hear more on that then contact me personally.)
Consider the simple fact that no one can be pushed into anything no matter how much you believe your cause ,product, or motivation is right true or correct.
I never once truly believed I had invented the best thing since sliced bread….( believe me these people and their solicitors at times became personally abusive and emotional)
Their tactics were push tactics...much ..much better to use pull tactics.
Always consider what is in it for your client, customer, competitor etc….and act accordingly
These are pull tactics …
By understanding that….and what they are looking for…. and what they want ….you can give it to them (or not) .
I am not a copywriter however consider these two Tag lines (real copywriters command significant fees because they understand the push me pull you principal)
WE ARE THE BEST AND CHEAPEST CARPET CLEANERS IN TOWN….. phone …..
WOW… YOUR TIRED AND DIRTY CARPETS……LIKE NEW…. All DONE WITH THE MINIUM OF FUSS …phone
Always act in your clients best interest, and they will reward you by rewarding you…..
Whats in it for them….When you know that then you can understand how to help.….
Create A Win Win .
To Our Success