Once upon a time, a man had no formal education and
without any academic qualification, he failed to obtain a job.
However, the man possessed a strong entrepreneurial spirit.
With little capital, he bought some new shirts from factory
discount sales and sold them on the pavement, shouting
“new shirts, new shirts.” Within few days, he was successful
in selling all the shirts. Then he added his profit to his initial
capital and reinvested the total amount, to buy another lot of
shirts. He was successful in selling them also. Again, he
reinvested and sold another lot.
This process continued for sometime and he employed a
person to help him out. As time rolled by, his business
boomed and he rented a shop. Thereafter, as he lived
economically within his means, his savings progressively
increased, and he bought the shop that he had rented. His
shop specialized in selling only shirts, of almost all available
brands. Due to his honesty and hard work, throughout the
day his shop was full of customers.
Since he could not attend university, he ensured that his
son attended university. His son graduated with a marketing
degree and the man retired, leaving the shop in the hands of
his son. In order to increase sales, the son negotiated for
dealerships of few popular brands, and was successful in
obtaining them. He offered discounts and gave newspaper
advertisements. However, the sales improved only marginally
and not as desired.
He approached his father and asked him how to improve
the sales. The man said, “Stand in the street and yell, ‘new
shirts, new shirts’.” The son employed two persons who
stood on the street and shouted, “new shirts, new shirts” at
everyone who passed. The son also placed glowing neon
signs on the road, with blinking arrows that pointed to his
shop, and flashing letters showing “new shirts, new shirts.”
The sales shot up.
Excerpt from the book “Once Upon A Time: 100 Management Stories” by Rajen Jani