What lessons did the speaker learn at their first job in a fur coat warehouse?

The speaker learned six valuable lessons, including how to handle angry customers and take responsibility for their mistakes.

How did the speaker resolve a customer's complaint about a coat?

The speaker fixed the customer's coat in five minutes after initially expressing frustration and then backpedaling.

Why is validating someone's anger important when dealing with upset customers?

Validating someone's anger is important because downplaying their emotions can lead to increased anger and a larger discrepancy between the two parties.

How can upselling be achieved?

Upselling can be achieved by getting customers to say no to an offer, which can lead to them saying yes to the upsell, and by providing additional services for a low cost.

What is the key to the fur coat dealer's success over five generations?

The fur coat dealer's success is attributed to their consistent dedication to improving their craft, despite criticism, and owning access to a $200 million portfolio.

Lessons in Customer Service and Upselling from a Fur Coat Dealer

Name: Lessons in Customer Service and Upselling from a Fur Coat Dealer
Uploaded: 2023-04-17 11:57:43
Description: Working in a fur coat warehouse taught the speaker valuable lessons about customer service, upselling, and the importance of improving one's craft to achieve success in a win-win exchange.

This article is a summary of a YouTube video "Hardcore Business Lessons I Learned From A Dealer" by Alex Hormozi

TLDR Working in a fur coat warehouse taught the speaker valuable lessons about customer service, upselling, and the importance of improving one's craft to achieve success in a win-win exchange.

Key insights

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The business has survived through multiple challenges, including two world wars and recessions, highlighting the importance of resilience and adaptability.
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The dealer quickly resolved the problem and received gratitude from the customer, emphasizing the significance of providing excellent customer service.
😡

When dealing with an upset customer, it's important to validate their anger and take responsibility for any mistakes, even if their complaint seems ridiculous.
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The analogy between fur coats and car insurance helped customers understand the value of the service, highlighting the importance of effective communication and relatable comparisons in business.
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People are often trained to say no to upsells, but by flipping the script and aligning the response, saying no can actually result in saying yes and completing the purchase.
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"They gave away something that cost them nothing that people still perceive value as bait to get people to come in and actually take the upsell."
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Hard work and dedication are key factors in achieving long-term success in business, as demonstrated by the dealer's ability to withstand challenges for five generations.
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Big business owners understand that implementing important tasks, such as setting up a blog, doing email follow-up consistently, creating content, and building a sales team, may take time but ultimately lead to even bigger outcomes.

Q&A

What lessons did the speaker learn at their first job in a fur coat warehouse?

— The speaker learned six valuable lessons, including how to handle angry customers and take responsibility for their mistakes.
How did the speaker resolve a customer's complaint about a coat?

— The speaker fixed the customer's coat in five minutes after initially expressing frustration and then backpedaling.
Why is validating someone's anger important when dealing with upset customers?

— Validating someone's anger is important because downplaying their emotions can lead to increased anger and a larger discrepancy between the two parties.
How can upselling be achieved?

— Upselling can be achieved by getting customers to say no to an offer, which can lead to them saying yes to the upsell, and by providing additional services for a low cost.
What is the key to the fur coat dealer's success over five generations?

— The fur coat dealer's success is attributed to their consistent dedication to improving their craft, despite criticism, and owning access to a $200 million portfolio.

Timestamped Summary

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00:00
Learned 6 lessons at first job in fur coat warehouse, including handling angry customers with empathy and responsibility.
👍

01:06
A customer's coat complaint was quickly resolved by the speaker in just five minutes.
💡

01:39
Validating customer anger is crucial to prevent escalation and bridge the gap between parties.
🧥

02:28
Store and condition fur coats during the summer to extend their lifespan, like an insurance product.
💰

03:20
Saying no to an offer can lead to saying yes to an upsell, and offering low-cost additional services can increase upselling success.
💰

04:34
Capitalism is a win-win exchange where both parties benefit.
💰

05:53
Create demand and limit resources to boost sales and loyalty for a one-time product; 🧥 Fur coat dealer's success over 5 generations from improving their craft and owning a $200M portfolio.
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07:30
Big business owners prioritize daily basics for bigger outcomes.