So Predictable
All good businesses need a measure of predictability. The more predictable the better in my opinion. This is why boring businesses will always be in demand (laundromat anyone?).
Predictability isn’t always tied to the quality of the product or service btw. We all have brands we use repeatedly despite mediocre quality. Something, be it convenience, price, familiarity… just keeps us coming back.
Take this for example: I often have breakfast with my folks at a total dive of a diner in Alhambra, CA. The food’s subpar, they only take cash, and the service is lousy. But it’s a neighborhood staple, and we always run into family friends there. Odds are it’ll still be around in 50 years - and I’ll still be going.
Call it the Lindy effect, or just human habit. In a world where innovation reigns supreme, maybe we’re missing the point. Instead of giving the people something new or what they didn’t ask for, give em more of what they are going to buy anyway.
Pro Tip: Keep it simple and easy to repeat.
I mean, I’m going to buy a cup of coffee. I don’t want Yerba Maté - even if it’s better for me. Even if your Yerba Maté lounge is closer and cheaper, I’ll still go out of my way for that morning coffee and overpay. (Back to that “creature of habit” theme.)
So, ask yourself:
How predictable is your customer?
What are they absolutely going to do today?
What product or service are they almost certain to buy - even if they have to go out of their way?
How often will they buy it? And will they bring friends along?
Continue the exercise until, without a shadow of a doubt you know how and when your customer will buy. Then put yourself in the best position possible to funnel that demand.
Song of the week…
Tim Martinez
“The Inside Man”
Grab my latest book “Do Good Work” - Minor Shifts, Major Impact (buy here)
Take TIMgpt for a spin.
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