IOU slip

It is very common for shops, especially the local kiranas, to extend credit or issue IOU slips to their customers. This has a dual benefit ~ getting over the problem of change and ensuring the customer returns to the shop. However, a colleague came across a rickshaw puller in Rohini, who employed the same concept for his passengers. Generally operating around Rohini Metro station, the rickshaw puller never refuses any passenger. But when they profer a higher denomination note, he takes it but, instead of the balance amount, gives an IOU slip, with the balance amount as well as his phone number written on it. Since most of the passengers are regular ones, they accept the slips without any protest. And the next day, usually the passengers find him parked around the Metro station. If not, they call him up and wait until he drops his passengers and comes back to fetch them. One can term this a simple trick, but the smart rickshaw puller not only retains his customers but also manages to earn more.

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