Pay it forward in the business world.
You’ve all heard the saying that “It is better to give, than to receive.” I firmly believe that if you give of yourself you will get more in return.
I like Mexican food and and will stop by my local Chipotle for lunch on a regular basis. They always have a fishbowl there for people to drop business cards into for a free meal and it’s always full. I am happy to say that they do indeed provide free meals to people that drop their card in the fishbowl. About 2 weeks ago, I got an email from my local Chipotle at 86th and College Park telling me that they had drawn my card out of the bowl and that I could schedule a lunch or dinner for between 15-20 people! So, I called up some family and friends and we met for a great little dinner this week. On a more national level, Taco Bell recently promoted it’s “steal a base, steal a taco” idea to the U.S. (I like this example because it’s about Mexican food again).
These are both very specific examples, but I’m sure you’ve been to a fair, trade show, sporting event, or any number of other public events where a business is handing out free stuff. Ok, so a little taco may only cost them $.20 each, but if you end up giving away 500,000 of them… it comes out to a $100,000.00 price tag (I have no idea what the actual operating cost of a taco is for them, or how many they actually gave away). But the question becomes: Why would they do that?
The biggest reason is the belief they will get business in return. So they give away a $.20 taco, the average consumer is likely to walk out the door having spent 5-10$ after getting their free taco. About half of the family and friends that dined at Chipotle with me this week had never eaten there before. I know they enjoyed the meal and I’m sure some will return in the future and others may even become regular customers.
While the motive may normally be to generate further income, I am happy that several charities and those in need have benefited from the generosity of businesses. For example, how many of our homeless received a free taco because of this promotion? You may think that idea is a little far fetched, but you may not have seen Tom Mabe’s idea on feeding the homeless.
My point is this: If you want to increase sales and promote goodwill, practice the art of giving. Even if it doesn’t return a profit, you may help to make this a better place to live.
