How To Sell To People With Money.
There’s a restaurant close to my friend’s house where I go to eat when I’m in his area.
Maybe someday I’ll talk about how my friend doesn’t cook and I have to go to a restaurant and eat whenever I’m visiting him.
But today, I want to talk about selling to people with money – something I learned from the people serving at this restaurant.
Now, this is something I used to do too because my mother had a restaurant.
And I grew up managing it from secondary school up to a few years in the university.
The idea was simple.
Whenever we had a new customer at the restaurant – a customer that looked like they had money – we were supposed to sell to them at a higher price.
For example, if the price of food, say a plate of fufu with soup and a piece of meat was N250, we could sell it to this new customer with money for N500, N700, N1000 or even N1,500.
But we had to make the food look like it was worth the price.
So, what to do?
Serve them their plate of fufu with an extra or 2 or 3 extra pieces of meat, a sizeable stockfish by the side and a little bit more soup than they’d normally finish.
And it almost always worked.
And boy!!!!!! The profit margins were crazy.
I mean, imagine selling 100 plates of food a day at N250 each.
You made N25,000.
But now imagine selling 50 of those same 100 plates at N1,000. That was N50,000
Another 25 at say N500 would be N12,500 and the remaining 25 at N250 would be N6,250.
You’ll be making N68,750 instead of N25,000.
An extra 40k+.
More profit, fewer efforts, fewer expenses.
But why did this strategy work?
First of all, the food was goddamn delicious. My mama na superstar chef 😁🙌🏿
Then the food being served had to look like the price it was being sold for – extra pieces of meat, stockfish and extra soup.
We’d even add bottled water even if it was sachet water that we gave normally 😁
Sometimes, we’ll even ask if you wanted a bottle of beer or a soft drink.
2. Quality Audience
Phyno once said “inafu dimkpa, inu isi ego”.
For the non-Igbo speakers reading this, it meant if you see a rich person, you won’t need to be told.
So, if the customer didn’t look like they had money, then we wouldn’t even try to pull it off.
Ikom, Cross River State was a small town where everyone almost knew everyone.
So, when someone from out of town asked for somewhere they could get good food, our name usually got mentioned.
This meant that if you walked into my restaurant for the first time, I’d know.
And by heavens, I’ll bill you 😁
Ikom might have been a small town, but it was also a border town.
So, we saw lots of people either going into or coming from Cameroon, or passing to or coming back from Obudu Cattle Ranch.
We saw new people every day.
Of course, this backfired a few times, lol.
You served this ‘packaged’ meal to someone and you end up finding out they didn’t have money.
But the failure rate was so small that it was always worth it.
And just for context, the last time this happened was over 6 years ago.
But well, some days back I went to eat at this restaurant and they served me food with an extra piece of meat, stockfish and a little extra soup 😁
Then the girl asked me if I wanted pure water or bottled water.
But it didn’t ring in my head until I was about to pay and then she told me the price.
Wait, shebi I look like a person wey get money?😁
But I felt so happy paying even because it rolled back the years for me.
But then, why did I share this?
Well, maybe you have a business idea and you’ve been thinking about how to sell.
Or you’re scared of selling because what you want to sell is expensive and you are trying not to sell to broke people.
Well, to sell to people with money, you need 4 things:
2. Quality Audience (of people with money)
3. Positioning and
I call this the 4 Step High Ticket Pricing Strategy of selling to people with money.
And you could use this same strategy to craft out a sales format for your business.
I hope it works for you.
I wish you the best.