Many people who own humble businesses will hike the price of their commodities or service when a seemingly rich person walks through their doors but they never ask themselves one question, how that person became rich. For example, a rich fellow has money to spend over a long period, which means you have assured income for a long period. He also pays on time and without asking for credit. It is likely that he has rich friends so he can introduce them to you and your business.
Now, imagine what happens when that person discovers you hiked the price. He will take his business elsewhere as soon as he can. He will also stop doing business with people who remind him of you e.g. he will no longer deal with hawkers if you are a hawker. This means that you not only lose potential income but people who carry out the same business as you lose income as well, at that time or at a later date.
Business owners or even employees who unnecessarily hike their prices justify their actions in certain ways. They say that, ‘man must live’ and that those customers are unlikely to come back even if they charge them the proper price for their goods or services. To start with, these people should attach a time-frame to the phrase ‘man must live’ as this would help them see the error of their ways. Extra shillings today allow you to live for today, assured income over a long period allows you to live for a long period.
It may also be true that some people may never come back to your business perhaps because they live elsewhere but there is a constant and growing aspect of your business that you choose to ignore i.e. your business culture. You will lose out eventually if you pursue an unscrupulous business culture because this culture informs other aspects of your business either consciously or unconsciously. Deepening this unscrupulous culture by stealing from unsuspecting people leads to a negative reputation and ultimately, you will lose out to your competition. Call it karma if you will.
This is my message to all the struggling Kenyans out there. It is time to do business. Let us do it right so that we can grow and prosper.