The New York Times ran a story recently about Selfridges, a London-based department store celebrating its 100th year of business. Talk about recession-proof — this store has been through two world wars and the Great Depression, let alone several recessions.
What’s the secret to their success? Paul Kelly, the chief executive of Selfridges, says that while customers are in the store, “five minutes or 55 minutes — the time should be pleasant. We don’t succeed all the time, but we strive to do it.”
Now, I’m not going to over-simplify this and say that it’s just that easy. Truth be told, the Selfridges store is a model for design, marketing, product selection and taste. But the number one thing that came to Mr. Kelly’s mind when asked to explain their lasting success was providing a level of service that allowed customers to feel good while in the store.
To recession-proof your business, you must try to give each customer an enjoyable experience every time. Like Mr. Kelly says, you won’t always succeed, but if you try every time, you’ll hopefully get it right more often than not.
What does this mean for your business? If you’re a solopreneur, it means every telephone call or coffee shop meeting must be enjoyable for both parties. If you’re a restaurant it means your serving staff must have a smile on their face and take a genuine interest in people’s dining experience. If you’re a lawyer it means that even when people are visiting your office in the worst situations, they feel special because they are listened to with compassion and their concerns are immediately addressed.
The secret to building a business that thrives even through recessions, as Selfridges has done time and again, is providing customers with a sanctuary from their normal lives. If you make your customers feel great when they interact with your business, I guarantee they will return.
Photo: Selfridges
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