Why do
people do business?
I’m sure it’s
MAINLY for profit…
So read my
experience and tell me what you think….what is your business acumen on this?
One of those days , I stepped
out of the office to have lunch. As I strolled to the canteen, I suddenly
heard this great noise that sounded as if war has just began. It was indeed war, it was war of ideologies...Some were fighting
while others engaged in very hot argument. I thought I should stay away, but if
I did, you wouldn’t be able to share this gist.
It turns out
that Emeka, a dealer in electronic left his shop in care of Uche, his
apprentice. Uche is a teenager of about 14yrs and has been with him for about
3years. A customer walks in their shop and shows special interest in a
gold-platted pressing iron. The iron sells for N8,000 but judging by the enthusiasm
the customer showed and of course the need to make profit, Uche tells the
customer that the iron goes for 20,000. The customer bids for N18,000 and Uche
says “bring money”
Emeka
arrives to the knowledge that Uche had sold the gold-platted iron of N8000 for
N18000, a feat he couldn’t achieves as the boss. He asked Uche if he took the
customers details… He begins to heap praises on Uche for such a great bargain.
Just then, the customer shows up…this time, very angry...he seems to have gone
to other outlets and have discovered that the iron actually goes for N8,000 and
it has been sold to him at a very exorbitant rate just some minutes earlier.
He attacks
Uche and starts screaming. “You think you can cheat me”? you this small rat… He
grabs Uche, Emeka has to come to the rescue. Then the fight begins…. The
customer wants his money refunded, claiming he has been cheated.
Other
shop-owners wade in to the matter and they reached different conclusions. Some
felt he bought the product based on his bargaining power, others felt Uche and
his boss actually cheated the customer.
My question
therefore, where is that thing line between cheating the customer and making
profit?
Personally,
I have had situations where I have bought stuff and after taking a second look
at how much I paid and may be getting other price ranges, I would find myself
saying, “this guy don cheat me”
Is there a point when “profit making” can actually be “cheating in the real sense”? or permit me to informally brand it as “over-profit”
Is there
limit at what one can make as profit in business?
hmmmm
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