The Business Lesson I Learnt From Miracle on 34th Street
Photo by Eric Lanning
I believe that one of the key factors in being successful in business is to never stop educating yourself. It doesn’t matter whether you’ve been running your business for twenty weeks or twenty years: there’s always a new lesson to learn.
Occasionally these business lessons crop up in unusual places. I noticed one recently when I watched the classic Christmas film Miracle on 34th Street.
In the film, a man working as Santa Claus in a large New York department store decides to approach his job a little differently. When a child asks for a specific toy for Christmas, Santa tells their parents where they can find the toy at the best price… meaning that he often sends them to a competing store.
At first, this policy seems counter-intuitive. After all, isn’t Santa telling customers to go and spend their money elsewhere? It soon becomes apparent, however, that by putting the parents first, Santa gains their trust and turns them into fiercely loyal customers.
The idea of putting your customers first, even before profits, sounds so obvious. And yet often we forget how important this is! I’ve worked with many business owners who are struggling to grow their business simply because they’re lost sight of who their customers are and what they need.
This is something I have always tried to keep a firm hold on. In fact, I like to think that I have a fairly similar policy to Santa Claus in my own business!
I offer each potential coaching client a complimentary initial session for us to get to know each other. Coaching can be such a valuable tool: but it only works if you’re working with the right coach at the right time. During these initial sessions I am able to assess whether a client is really ready for coaching and whether I feel we make a good match. If they’re not ready for coaching, or if I don’t think I’m the right coach to help them navigate their current challenges: I’ll tell them.
In most cases I’m able to make alternative recommendations. It may be that there are other resources that would be most useful to that customer, such as a book or training course. If necessary I can also usually recommend a coach who will be better suited to them at that time.
This policy doesn’t just exist at the early stages of customer relationships. It’s something I endeavour to keep in mind throughout the process. Sometimes my customers will reach a point when they’re ready to move on to a different type of coaching such as a more structured ‘growth coach’ programme. Again, I always tell my clients when I feel that this is the case and make sure they are fully aware of the various options that are open to them.
Experience tells me that customers really appreciate this honesty. Some of them show this appreciation by returning to me further down the line when they’re ready to work with me, while others show it by recommending my services to colleagues or contacts.
Like Santa Claus in Miracle in 34th Street, I believe that giving your customers what they need is the best way for any business to function, even if in the short term it means telling them that a competitor is offering something that will better fit their needs.
Have you ever learnt a business lesson in an unexpected place? I’d love to hear the story! You can tell me all about it on Facebook.
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