Firstly, Happy Eid to Everyone.

At a time of celebration, it is useful to reflect on our life and our choices, especially those related to business. I came across this excerpt today that I wanted to share. Unfortunately, I am unaware of the author of this thought provoking piece.

“There are two days in every week about which we should not worry, two days which should be kept free from fear and apprehension. One of these days is Yesterday, with its mistakes and cares, its faults and blunders, its aches and pains. Yesterday has passed forever beyond our control. All the money in the world cannot bring back Yesterday. We cannot undo a single act we performed; we cannot erase a single word we said. Yesterday is gone.

The other day we should not worry about is Tomorrow, with its possible adversities, its burdens, its large promise, and poor performance. Tomorrow is also beyond our immediate control. Tomorrow’s sun will rise, either in splendour or behind a mask of clouds; but it will rise. Until it does, we have no stake in tomorrow, for it is as yet unborn.

This leaves only one day: Today. Anyone can fight the battles of just one day. It is only when you and I add the burdens of those two awful eternities -Yesterday and Tomorrow – that we break down. It is not the experience of Today that drives us mad, it is remorse and bitterness for something which happened Yesterday and the dread of what Tomorrow may bring. Let us therefore, live this one full Today.”

There is a quote I recall that states “Procrastination is the grave in which opportunity is buried” that sits well with the above and on a day of family, celebration and reflection, I have a simple question for you today:

Good afternoon all. Just a quick blog today about the weekend. Decided to take the Saturday off and had a lovely relaxing weekend with the family. However it turned into a Busman’s holiday weekend, as I ended up talking to people about business, quite by accident. The theme was the same throughout… price. The inability to get a fair price for their goods and services.

 A blog by the wonderful Seth Godin came into my head. It was the issue he had with Mobile phones. One that I’m sue we can all relate to: The frustration that it doesn’t take a lot before the reception is poor and for the signal to drop. His observation, would you pay a few dollars more a month for a high-definition phone? A phone that always gave crystal clear quality and as long as you weren’t on the underground or a basement, actually worked. I’m sure you like me you would tend to say, if it truly was such a thing as a high def phone, I’d pay for the comfort of knowing it would always work…

 The business owners I met throughout the weekend, worked in very niche business areas where quality over quantity was easier than most to communicate, so what was the problem?

Two things, the last impression they left with their clients was price, so price was in essence all they would be measured upon and secondly, they wrapped their products in mundane “packaging”. If it looks cheap, then I ain’t going to pay a premium for it, am I? For a business owner I met on Sunday, due to the recession, the jars in which he placed his produce, went from these ornate glass sculptures to standard unassuming jars. Guess what it did for sales? The produce looks as if I can get it in my local supermarket, why would I buy it from you?

 Think about it, would you by a Jaguar from a garage that looked liked working man’s armpit? Course not, similarly if you have a 10yr old fiat punto, your not going to take it to Arnold Clark, knowing the cost of an oil change will be more than the car is worth.

 Another simpler analogy. A coffee/tea from a greasy spoon café vs. a trendy coffee house. Is the thing your drinking THAT different? So why does one cost you 90 pence and the other £2-£3?

 So ask yourself, do you end your conversation on price, or quality and reliability (of both the product and you)? Do you “package” your product to reflect its quality.

Last I looked, other than the east end of Glasgow, not many greasy spoon café’s are left in Glasgow. So do you have a high-def product but sell and package it as something less? All through fear?

 Lastly as we say at Templeton Green, in business as in life, we have choices, what will you choose today?