In India, many of us wake up to the sound of street vendors like paper wala, dudh wala, or sabjiwala entering the lane. Each one has a unique style of waking us up to the new day and in turn, starting their business for the day. These street vendors haven’t graduated from any business school or training related to business skills, yet they manage to run their tiny businesses and also expand them in their locality. Not only this, but for some of them, these street businesses pave way to success and achievements.
There sure are some business tactics and lessons worth learning from these simple street vendors which are never taught in business schools. So, let us take a glimpse at them!
1. Master the art of networking.
For street vendors, their networking is the only reliable mode of marketing. The more they are seen and heard in the locality, the more clientele they cultivate. For this, they tend to innovate new methods of engaging with their potential and current customers. They also tend to create a strong rapport and goodwill between customers for getting known in the locality. This is a business tactic which brings them closer to their customers; they can know the needs of the customers which helps them to provide efficient services.
2. Always be unique.
There might be many sabjiwalas on the street, but still, people have one particular vendor from whom they tend to buy all their stuff. Why? Because there is something unique about that vendor. Either the products are very fresh, or clean or there is a lot of variety. So understanding the needs of the market and being unique in any possible manner is the key to success in business.
3. Spot the right place.
Street vendors know where their products will be in demand, and they target the places of selling their products accordingly. So, if they are selling some household products, they will always go for residential areas, or if they are selling some food products; then they might choose a crowdy place near schools, colleges or offices. This is a tact which every business owner must notice and consider!
4. Utilise all the resources that you have.
Street vendors do not have enough capital, a lavish office or wealthy investors. They have an extremely limited amount of resources and space available for their business. In spite of that, they manage to run their businesses well and that too for years! They can only do this by making the optimum usage of the available resources. Every small or big business has a lot to learn from this tactic.
5. Bring in the ‘new’ but never lose the ‘old.’
One thing which many might have observed about Indian street vendors is that they keep bringing in new products and ideas for selling, but without losing the old products and ideas. Why? Because the old products, services or ideas are their brand identity. For example, you might see that your vegetable vendor has also started selling fruits, sprouts or some other products after some time, but he will never stop selling vegetables. This is how they keep their fundamental identities intact and then innovate their businesses. Isn’t this a useful business lesson?
This spirit of business is what we celebrate at Deshpee. We too believe in consistent excellence, accountability, and innovation. This is the reason why we have launched multiple businesses over the years that are trying to make this world a better place while staying intact with our brand value.
Featured image is via Wikipedia
