Every year, around this time, an entire cohort of entrepreneurs are born overnight.
These enterprising folks capitalise on the law of supply and demand, taking advantage of seasonal needs by targeting a certain lucrative market segment. You guessed it – these people were selling flowers and other cutesy gifts around Valentine’s Day.
You can find them literally everywhere – around the entrances to MRT stations, along Orchard Road etc. I encountered some of the more enterprising ones during my jog along East Coast Park last night. The dimly-lit park was predictably flooded with romantic couples on the eve of Valentine’s Day, and these three girls flitted from one occupied park bench to another selling their Valentine’s Day wares. Suffice to say they were quite successful.
Many businessmen should take an example from these three teenagers. They got their marketing strategy down to a pat. Identify your target customer. Find out where your customer is. Make them an offer they can’t refuse – would you dare say no in front of your significant other?
That’s successful selling. Now if only they can make it into a long-term, sustainable business.