REJECTED: Guy at farmers’ market shuts me down

One of the funniest quotes I’ve ever read came from the CEO of Carl’s Jr. He was interviewed about his business and got asked about healthy eating in America.

“My opinion is that the media is the main supporter of healthy eating. We’re certainly not hearing it from our customers,” said Andrew Puzder, who is the CEO of CKE Restaurants, the parent company of Carl’s Jr. and Hardee’s.”And [surveys] show that while consumers say they want to eat healthier, what they actually want is a big juicy burger,” Puzder said during an interview Tuesday with CNNMoney.com.

HAHA!

This guy took a question on healthy eating…and got them to print a promotion for “big juicy burgers” in a national article. I love you, CEO Andrew.

A photo posted by Ramit Sethi (@ramit) on Feb 28, 2015 at 12:08pm PST

Personally, I go for In-and-Out Burger

It’s funny, but there’s also a lot of truth to what he said.

Critics love to tell companies to do things….

…that nobody actually wants to do.

For example:

  • Food activists say companies “should” add healthy food to their menus…but when they do it, people don’t buy it!
  • There’s a great podcast episode where some people urged dating sites to remove photos so users could have a more “real” experience, absent of biases and racism. (In fact, when a dating site tried this, people reported liking their dating experience more.) The problem? The vast majority of people hate it. Turns out in dating, looks are important.

You see how easy it is for random critics to tell businesses what they “should” do…without knowing the full story?

It’s not just for businesses — we’ve all been there. How many of us have parents who told us that we needed to major in engineering or go to med school? (Non-Asian people, ignore that last sentence.) How many of our friends think it’s “weird” that you read self-development? Or that you “really need” to try this one diet?

I’ve been guilty of being a critic, too.

Years ago, I went to a farmers’ market where I saw a guy selling t-shirts. Now, imagine an Indian guy walking into a t-shirt stall. It’s like letting a dog loose with 500lbs of meat. The dog is not going to pause and think about the ramifications of his daily macronutrients or the burden of eating now vs. saving for later. He’s going to eat.

Similarly, an Indian person is going to negotiate.

After a lot of back and forth, here’s where the t-shirt guy and I ended up: The shirt cost $10. I offered $8. He said no.

Now, let’s assume something for a minute. If the guy pays $4 to get those shirts, and I offer $8, shouldn’t he take it? After all, he’s making money — $4 to be exact.

So why wouldn’t he take it? It makes no sense, right?

In the next few emails, I’d like to take you through the fascinating world of business. We’ll start at the farmers’ market, but we’re going to go up to multi-billion-dollar businesses, too.

How do CEOs make the decisions they make? How did IWT go from a simple blog to a multi-million-dollar business? What’s changed as I went from a blogger to CEO?

So many people think business is a bunch of arcane numbers and P/E ratios, but that’s not true. Business is strategy, competition, and psychology at the highest levels. If it works, it’s great. If it doesn’t, you go extinct.

Whether or not you run your own business, I’ll show you some fascinating insights into how businesses work — and how you can use their systems and psychology for your own life.

(If you run a business that generates between 6-7 figures, you’ll want to pay special attention. Send me an email if you do.)

For now, think about why that farmers’ market t-shirt guy rejected my offer for $8. Any ideas?

Leave your comment below.

P.S. We’re hiring a Marketing Operations Associate to join the IWT Team. If you have experience with troubleshooting and problem solving CRM and marketing automation systems, click here for more details. 100% remote, great benefits, and you’ll be working with a top notch team.

REJECTED: Guy at farmers’ market shuts me down is a post from: I Will Teach You To Be Rich.

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