Incredible Story on How You Can Adapt and Be Creative in Your Business
Adaptability is the quality of being able to adjust to new conditions and the capacity to be modified for new use or purpose, as defined in the dictionary. As a business owner, you have to be ready to make some adjustments in your business in order to grow, if necessary. Also, it is an essential skill to plan for your business ahead of time.
In today’s episode, Annette will share a story about how adaptability is important in your business to survive and grow. She will set the ice cream van as a perfect example of what adaptability really is.
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Hello, hello everyone. I tried to go live from my laptop a couple of times, didn't want to do that. Facebook decided that it wasn't going to let me go live from my laptop so here I am! I'm on my phone so apologies for that. I hope the sound quality is okay and that you can hear me okay, because I don't have my headset with me. But hopefully you can hear me okay. This is Business Wealth Academy live. Thank you for joining me. Thank you for tuning in today. As always, give me a low in the comments. If you're watching, give me some thumbs up, some likes, all those good things. It would be lovely to know that you are here and that you get value from these live videos that I do every week, giving you a little tidbit or a little thought that you can put in place in your business.
00:43 The topic for today was inspired by the ice cream van driver.
And today's thought, idea, tidbit comes from my local ice cream van. Because you see what happens is I live in a small town, about 8000 people in the town. It's quite a rural community. We are about 20 miles south of Edinburgh, but we're surrounded by fields and hills and things. So we're quite a small rural town, but it's quite family-orientated town. And usually, the ice cream van comes around in the summer, twice a week after school, about four o'clock, drives around the, all the housing areas, or the housing estates, it drives around. Which is genius, right? Coz we're not expecting it, it is so expected, the need to go to the ice cream van, they are actually driving and stopping like every few 100 meters with the tinkly sound playing so that the kids could hear and run out and get excited by ice cream. During the summer holidays. However, the ice cream van has changed his time. It drives around just after lunch every single day. It has decided, the ice cream van driver, he has decided as he, he has decided that he should make hay while the sun shines. He can get people buying every single day in the summer holidays, less likely out with the summer holidays that people are gonna buy every single day. So he doesn't come around quite as much. In the winter, he comes round even less. And the interesting thing is during lockdown, he did also come round daily. So he has, maybe you can, can you hear him? I don't know if you can pick that up. But he's actually is, just driving by right there. That's so funny. So you might be able to hear the tinkly noise in the background. I don't know if the microphone will pick that up enough. But he's here right now. And yes, during lockdown, he came down daily as well. And the thing is that he is basically adapting to his customers, and what his customers are going to be around and what is customers are more likely to buy from him more frequently, he's more available during those times. He has changed how he works in order to maximize the revenue of his business because he knows when his customers are going to be more likely to buy more frequently and buy more often. And I think that is a lesson for all of us.
03:17 Understanding the data of how and when people buy.
Now for some of us, it may not be quite as obvious as is the summer holidays and it's sunny, we might need to be, do a bit more digging into understanding our customer, into understanding the data in our business and how and when people buy. But nonetheless, it's important for us to understand that in our business, so we can do what our ice cream man here is doing and adjust and pivot and go harder on times when people are likely to buy more and perhaps back off when they buy less and tailor what we are doing and how we are spreading our energy around, in order to maximize our return, in order to maximize how our business performs. So that is my lesson today from my ice cream man. It would be amazing if you could have heard that, the tinkly noise. I don't know if it will have come through, but, but incredible timing if it did.
And thank you everyone for watching. I appreciate your time. And I'll speak to y'all soon. Bye.
Thank you so much for tuning in today. I hope you got lots of value from this episode. Now if you're struggling with any accounting things for your business, I'd love to help make sure you reach out to me at podcast at annette and co dot co dot uk, that's email@example.com and let me know how I can help. Of course, remember to subscribe to this podcast as well. Thanks again.