Again in one of my many London cab journeys I found myself engaged with the driver who told me that the jubilee weekend had been a huge disappointment for him business wise. Having worked all weekend he found he was only 10% up in his usual earnings despite the huge crowds. “ What people don’t realise is that most Londoners have a taxi mentality, they are familiar with using them all the time; most Londoners leave London when big events are on and the crowds who come to these events are people who are not Londoners and they don’t have a taxi mentality. It’s the same with all big events, the royal wedding was the same, in fact I was actually down on my regular earnings that time”. He went on to tell me that he was leaving for the Philippines the week before the Olympics start. He was going for four weeks in order to get married. He felt the city would be full of visitors without a taxi mentality and he would put in many hours for little return so what was the point? Get married instead.
I suggested that this might be a risky strategy and asked how long he had known his fiancée… “Two years, I have been out (to the Philippines) twice to be with her and we feel it is right for us, I’m just working on her visa and paperwork and then I’m off”. I suggested that this was a brave move, one that involved a huge decision and a lot of change. “You know what guvnor, I have been hacking this cab for twenty years, day in, day out, same old thing and nothing changes, I realised it wouldn’t either unless I did something about it”. I said I admired his courage to which he replied “You know what, it’s about trust; change is about trusting in yourself and what you believe in and that’s what I’m doing. I have to change to improve my position; What do you do?” he asked. I told him. He felt that it was great getting new businesses to market and said the only issue was that unless they were in a place like he was, going nowhere, they would not come to our company.
We all think we know best, until it is nearly too late. We all fear change; none of us can predict the future unless we create it for ourselves. I was impressed by the cabbies commitment to his cause; his life was going nowhere so he decided to change it. He had taken the steps to minimise his risk and had chosen a partner that would help him on the next stage of his journey.
Going into new countries as a business, without firstly really looking into the right kind of partner who knows the ropes is also a potentially risky business.
Conduit Partners have helped numerous business leaders and investors review their position in business, some of it has been in persuading them that change is needed, some already knew. Most has been in validating that it’s time to change and working with them through times of change particularly when entering new markets and territories in assisting to mitigate risk and optimise return on the investment.
To learn more about our approach to validating markets and go to market planning approaches that mitigate risk please go call 01235 831777 or email email@example.com