An old gentleman owned a hot dog stand in New York. His hot dogs were famous for blocks and blocks, maybe even miles and miles. People loved his hot dogs and he had a great trade from the local offices around him. He had a couple of people working for him and advertised in all of the local papers. He even hired kids to put signs on poles on street corners and he even made calls on local businesses to encourage their staff to stop and try his hot dogs.
Once people tried his hot dogs they were hooked. Business was good, so good in fact that he was able to open a couple more stands and put his son through college.
Finally his son came home from college and begin to talk to his father about what he had been learning. “There’s a recession on out there Pops.” The young man said. “You’d better stop spending so much on advertising, reduce the money you are spending on your hot dogs and let some of your help go.”
“But business is good son.” The old man defended.
“Sure it is now, but you’ll see there’s a recession on and you’d better get ready.” His son replied.
The old man considered what he had heard and although he didn’t agree, how could he argue with his son after all the amount of money he had spent for his son’s education. Finally he decided that perhaps he should follow his young sons advice and he should cut back and wait for better times.
After he reducing the advertising, purchasing cheaper hot dogs, cutting some of his staff and closing one of his stands his business, unsurprisingly began to pull back dramatically.
In reaction to the downturn he cut advertising even more and tried to run the stand by himself. To make matters worse, one of his old competitors built two new stands in the old man’s territory. “Lucky I had my son to warn me”, thought the old man. Eventually his hot dog business failed. His son had been right–there was a recession on.
The moral to this story is: Whatever your business is offering, keep advertising your “hot dogs”, use only the best quality “hot dogs’, keep all of your “hot dog cooking” and “hot dog selling” personnel, and keep up-to-date with the latest ways to improve your “hot dogs”. Don’t give another “hot dog seller” an invitation to enter your neighbourhood and STOP listening to the ‘cry of recession’ or you might just find it to be true!
We can help you keep the hot dogs warm and tasty visit our website http://www.nuggetsoflearning.co.uk or pick up the phone 01483 898936