--- title: Selling by Not Selling | Jim Penman description: Selling by Not Selling image: https://blog.naos.com.au/hubfs/Lawnmower.jpg --- ##### [Subscribe to NAOS NEWS & Insights](https://www.naos.com.au/subscribe) [![](https://assets.website-files.com/5b3d7f5582ecae7f1e026ce2/60be9de099c2716fb2efb4a7_naos.svg) ![](https://assets.website-files.com/5b3d7f5582ecae7f1e026ce2/640666256ede5e8ae8e33da0_B-Corp-Logo-Black-RGB.png)](https://blog.naos.com.au/) [Home](https://www.naos.com.au) About [About NAOS](https://www.naos.com.au/about-our-firm) [Our Team](https://www.naos.com.au/about-our-firm#people) [Why invest with NAOS](https://www.naos.com.au/about-our-firm#why-invest) [Our Investment Beliefs](https://www.naos.com.au/about-our-firm#beliefs) [Our Investment Process](https://www.naos.com.au/about-our-firm#how-we-invest) Listed Investment Companies [NCC: NAOS Emerging Opportunities Company Limited](https://www.naos.com.au/ncc-naos-emerging-opportunities-company-limited) [NSC: NAOS Small Cap Opportunities Company Limited](https://www.naos.com.au/nsc-naos-small-cap-opportunities-company-limited) [NAC: NAOS Ex-50 Opportunities Company Limited](https://www.naos.com.au/nac-naos-ex50-opportunities-company-limited) [Our Listed Investment Companies](https://www.naos.com.au/our-lics-compare-our-lics) [How to Invest](https://www.naos.com.au/our-lics-compare-our-lics#how-to-invest) Private Opportunities [NAOS Private Opportunities Fund](https://www.naos.com.au/npof-naos-private-opportunities-fund) [NAOS Ideas Network](https://www.naos.com.au/naos-ideas-network) E.S.G. [ESG and our investment Process](https://www.naos.com.au/esg-esg-and-our-investment-process) [Our Road to Sustainability](https://www.naos.com.au/esg-our-road-to-sustainability) [Our Investee Companies and their ESG Journey](https://www.naos.com.au/esg-our-investor-companies-and-their-esg-stories) News & Insights [News & Insights](https://blog.naos.com.au/news-media) [Events](https://www.naos.com.au/events) [Shareholder Education](https://www.naos.com.au/shareholder-education) [CEO Insights](https://blog.naos.com.au/ceo-insights) [Broker Research](https://blog.naos.com.au/broker-research) [Companies Making a Difference](https://blog.naos.com.au/companies-making-a-difference) [Podcast & Book Reviews](https://blog.naos.com.au/podcast-reviews) [Contact](https://www.naos.com.au/contact) ##### [Podcast & Book Reviews](https://blog.naos.com.au/podcast-reviews) # Selling by Not Selling | Jim Penman ###### June 21, 2019 # **By Ben Rundle | Portfolio Manager at NAOS Asset Management** Jim Penman is the founder of the hugely successful Jim’s mowing franchise business which went from a revenue of $24 to the world’s largest franchise chain and a turnover of over $400m. The title of his book ‘selling by not selling’ is a concept that Jim learned in his early days of running a business and is a key tenet to which Jim ascribes the success of the business. ‘Selling by not selling’ is Jim’s way of saying that if you help your customer by recommending a product or service that is best for them, not just the product or service that you have for sale. By doing this the customer will trust you and eventually be your customer for life. The story reminds me of customer service examples I have seen by some of the best companies in the world. Home Depot for example has their returns policy stuck to a car tyre in one of their stores. When asked why that was the case, the store operator said it was because a customer came into the store wanting to return a car tyre. Even though Home Depot didn’t sell car tyres, they gave the customer a refund anyway. Why? The answer was because the lifetime value of a customer is worth more than one tyre!   ###### [Podcast & Book Reviews](https://blog.naos.com.au/podcast-reviews/topic/podcast-book-reviews) ###### Share this post ### Comments ##### NAOS Asset Management ![](https://uploads-ssl.webflow.com/5b09df434e359cb73f2f80b5/5b09df434e359c362d2f81c4_location-icon-white.svg) Level 34, 25 Martin Place Sydney NSW 2000 ![](https://uploads-ssl.webflow.com/5b09df434e359cb73f2f80b5/5b09df434e359c121c2f81c8_mail-icon-white.svg) [enquiries@naos.com.au](mailto:enquiries@naos.com.au?subject=NAOS%20Website%20Contact) ![](https://uploads-ssl.webflow.com/5b09df434e359cb73f2f80b5/5b09df434e359ce0f62f81c9_phone-icon-white.svg) +61 2 9002 1576 ##### Our Listed Investment Companies [ASX: NCC - NAOS Emerging Oportunities Company Limited](http://www.naos.com.au/ncc-naos-emerging-opportunities-company-limited) [ASX: NSC - NAOS Small Cap Opportunities Company Limited](http://www.naos.com.au/nsc-naos-small-cap-opportunities-company-limited) [ASX: NAC - NAOS Ex-50 Opportunities Company Limited](http://www.naos.com.au/nac-naos-ex50-opportunities-company-limited) [NAOS Private Opportunities Fund](https://www.naos.com.au/npof-naos-private-opportunities-fund) [Listed Investment Companies](http://www.naos.com.au/our-lics-compare-our-lics) [Share Registry](https://boardroomlimited.com.au/) [Corporate Governance](http://www.naos.com.au/corporate-governance) ##### More Links [Privacy Policy](http://www.naos.com.au/privacy-policy) [Terms & Conditions](http://www.naos.com.au/terms-conditions) ##### Follow NAOS [![](https://uploads-ssl.webflow.com/5b3d7f5582ecae7f1e026ce2/5b3d7f5582ecae7e51026d27_twitter-icon-white.svg)](https://twitter.com/naosassetmgmt) [![](https://uploads-ssl.webflow.com/5b09df434e359cb73f2f80b5/5b09df434e359c11092f818c_facebook-icon-white.svg)](https://www.facebook.com/NAOSAssetManagement) [![](https://uploads-ssl.webflow.com/5b3d7f5582ecae7f1e026ce2/5b3d7f5582ecae133c026dca_Group%20261.svg)](https://www.linkedin.com/company/naos-asset-management) [![](https://uploads-ssl.webflow.com/5b3d7f5582ecae7f1e026ce2/5bf6115a4ae34255e68089e1_Asset%201Chart4.svg)](https://www.instagram.com/naos_asset_management/) Join our investment community. Be the first to receive NAOS News, Insights and Invitations. [Subscribe](http://www.naos.com.au/subscribe)[Book a Chat](http://www.naos.com.au/book-a-chat) © 2023 NAOS Asset Management Ltd Site by [DAVIDNOLAN](http://www.davidnolan.com.au)