7 Things I Learned About Business from a Moroccan Market

I’m just back from a short trip to Marrakech, Morocco, where among other things I spent a lot of time shopping in the souks, or bazaars, trying to find good deals on items I could bring home with me.

Here are 7 things I learned about business along the way 👇🏻

When someone says their price is final, they usually have about two or three price reductions left before they call it quits.

Everyone who is willing to sell something would drop the price a little to increase sales, if the numbers make sense.

If you feel like you’re not getting a good deal, you should absolutely look elsewhere. Chances are, there are dozens of other people selling the exact same thing. The difficulty lies in knowing where to look.

If you’re selling something to someone you don’t really know, first impressions are the most important thing. Mess this up and you’ve lost a deal before it even begins.

On a similar note, to ensure a sale happens, build rapport with the customer without resulting to small talk.

In other words, know your market as individual customers rather than a catch-all term or segment. People don’t have neat edges and boundaries.

Understand the niche you fill. Are you cheaper than the competition? Do you sell better items? Are you more trustworthy? If you don’t know, I suggest you find out.

Feel free to walk away. You’re not obligated to spend your money. If the seller is willing to sell lower, he’ll find you.

Sometimes, you learn lessons the hard way. Chances are you’ll get ripped off at least once. Take the rough patch as it comes, and don’t be unseated. We move.

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