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Atricle Dump - The Small Retailer's Survival Guide - Part 2 - Go Local!
Over the past 7 to 8 years, I’ve heard a lot of execs tell me they don’t have time to “set up systems”, “hold meetings”, and/or “measure results”. Imagine my delight when I picked up Rudy Giuliani’s book and found that he did all of that during his tenure as Mayor of the greatest city on earth. That’s a big enough job in itself but Rudy’s preparation paid off in a huge way both in managing New York City and in the aftermath of the September 11th tragedy.For those of you who complain that it is too much time taken to hold meetings every week – please read Giuliani’s view on DAILY meetings of key executives. That is, action packed, accountable meetings – not, paper shuffling dead donut stuffing mind numbing – well, you get the point.I
What I am suggesting is not easy. If it were easy then it wouldn't be fun, would it?! Just about every local store will have a production facility somewhere up the road. First rule: forget the production facility up the road. Why? Because,
With commercialization, money has become a primary factor in influencing the decision of the employer in hiring people. The employer aims at keeping his cost of production or service at the lowest by hiring people at the most competitive price. However, the employer has also to keep in mind that amidst heightened competition, he cannot afford to loose skilled people who have the potential to generate revenue for the company. In order to figure out the optimum salary that will serve both the purposes, the companies take recourse to salary surveys.Salary surveys imply to analysis of the latest trends in the market as far as the salaries of the employees are concerned. The inference drawn from such studies govern the remuneration policies and
The big chains have often toyed with selling products that are made in the locality. Some even have a small sales area dedicated to local products. They have never mastered the art of doing this and probably never will. This is mainly because their head office resource simply couldn't stretch to closing deals with individual suppliers on behalf of individual stores. As often is the case, the head office contingent is reluctant to allow individual outlets carry out their own buying negotiations. Just as local buying may be advantageous to the independent, the big chains see the opposite argument. Their great power lies in their ability to offer high volume to their suppliers in return for low prices and other advantages. By fragmenting volume lines into smaller deals, they will kill the goose that lays the golden egg. This is where you come in. Your independent local store will never have significant buying power so you do not need to play that game. You can play a quite different game that will leave the big guys standing on the sidelines looking on.
What I am suggesting is not easy. If it were easy then it wouldn't be fun, would it?! Just about every local store will have a production facility somewhere up the road. First rule: forget the production facility up the road. Why? Because, i
Small business is hardly small when it involves 5.6 million enterprises, employs more than 60,000,000 and accounts for 80% of new job creation. Small business is the heart and lifeblood of our economy.Great democratic and capitalist experiments worldwide continue to produce a record number of new business start ups year after year. Never in history have so many entrepreneurs emerged to start new ventures.Unfortunately, there are a record number of small business failures each year also. Failures are harder to track but, in the U.S.A. alone, some followers place the new business failure rate as high as 80% in the first two years. The statistical basis for this extraordinary claim is a mystery. The most conservative estimates, however
The big chains have often toyed with selling products that are made in the locality. Some even have a small sales area dedicated to local products. They have never mastered the art of doing this and probably never will. This is mainly because their head office resource simply couldn't stretch to closing deals with individual suppliers on behalf of individual stores. As often is the case, the head office contingent is reluctant to allow individual outlets carry out their own buying negotiations. Just as local buying may be advantageous to the independent, the big chains see the opposite argument. Their great power lies in their ability to offer high volume to their suppliers in return for low prices and other advantages. By fragmenting volume lines into smaller deals, they will kill the goose that lays the golden egg. This is where you come in. Your independent local store will never have significant buying power so you do not need to play that game. You can play a quite different game that will leave the big guys standing on the sidelines looking on.
What I am suggesting is not easy. If it were easy then it wouldn't be fun, would it?! Just about every local store will have a production facility somewhere up the road. First rule: forget the production facility up the road. Why? Because,
If you could improve on one aspect of your business, what would you choose?Most loan officers would want to make their marketing efforts have better responses. And while marketing is critical to business success, there are other aspects of your business that are overlooked and could have much more immediate results.This article is going to show you how improving your closing ratio just a little bit can have massive effects on your earnings for the year.We are going to talk in hypotheticals for a second, so bear with me.We have two loan officers working in the same office. There businesses are identical in every way. They have the same processors, underwriters, and marketing tools.The only thing that is differ
What I am suggesting is not easy. If it were easy then it wouldn't be fun, would it?! Just about every local store will have a production facility somewhere up the road. First rule: forget the production facility up the road. Why? Because,
Did you know that using a PowerPoint presentation can be one of the most effective ways to address a large group of people? With such a variety of learning styles, using a visual presentation allows you to reach a large group of people – particularly those who need to see it to believe it. What better way than to create a stunning PowerPoint presentation?Have the data, but lacking that polished finish? A good way to start is to look at templates to get an idea of which style suits you and your presentation. By accessing numerous templates at Microsoft.com you be able to create stunning presentations. Looking at an individual slide or downloading an entire sample presentation can inspire you to be more creative with the content that yo
What I am suggesting is not easy. If it were easy then it wouldn't be fun, would it?! Just about every local store will have a production facility somewhere up the road. First rule: forget the production facility up the road. Why? Because,
Our point of view, perception, and learning are all objects of our knowledge, and these are things that prevent us from going ahead. "I already know everything there is to know about that. I don't need to learn any more." We have arrived only at the fourth rung of the ladder, yet we think it is the top rung. Whatever the value of what our intellect and our insight has attained, we have to abandon it. If we don't, we put an end to further progress. Even though it has some value, our knowledge has become an obstacle. If we are caught in our knowledge, if we say that our knowledge is absolute truth, we suffer from the knowledge-obstacle. Those who have knowledge but know that they have to abandon it in order to go further do not suffer from the know
What I am suggesting is not easy. If it were easy then it wouldn't be fun, would it?! Just about every local store will have a production facility somewhere up the road. First rule: forget the production facility up the road. Why? Because, if it is a big employer in your town, then the chances are that the products they sell can be obtained from local sources other than a shop. If this (very) local production facility is a jam factory, for example, then the chances are that most people in town will have obtained as much jam as they need because they work at the factory or have friends or family that work there. I am suggesting you go a little further down the road. Four or five miles radius from your store and beyond is more like it.
Once you have identified the producers that are in your area, contact them and just put the idea to them that they can have another outlet for their goods. Transport costs would be negligible and they would have a great place to try out new products and ideas. Sometimes goods are produced that, for whatever reason, are not wanted by large customers. You may consider selling these goods. I am not suggesting selling sub-standard goods. In fact, this would not be a good idea. Often products do not meet a large customer's specification but are actually fine. They just do not happen to be the right shape, or color or are unwanted for some other innocuous reason. It is very common for producers to over-produce. Sometimes it is more efficient for them to finish off a production batch, leaving some goods over. In these situations you will be probably be able to negotiate some good deals. If a producer wants to test a product's selling potential you may be able to negotiate a sale-or-return deal.
Many producers have a shop attached to their premises where these kinds of products are sold. Many others, however, do not. You would be either adding a new outlet for them or would possible rep
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