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e-ret@iler
February 2000
Information to increase profits for retailers, dealers, jobbers and merchants -

In this month's issue of e-ret@iler, we will discuss shoplifting, phone systems, catalog and internet sales.

Shoplifting - According to information released by the Loss Prevention Specialists - Prevention Strategies Group there was a study conducted of 166,000 shoplifting incidents in 1998 and 1999 showing the average theft is now $60.74, up from $58.34 of 1997. The majority of shoplifters are adults, yet juveniles represented a disproportionate percentage of shoplifters. Men were most frequently the shoplifter, while a relatively high percentage of cases involved collusion between employees and customers. The number one location within a business where shoplifting occurs is at the point of sale.

Telephone systems - Want to have an elaborate phone system like one of your bigger competitors. You may want to think twice, or at least consider these consumer concerns:

39% of callers cannot identify the # sign
70% prefer to speak with a live person
29% of callers spend extra time venting their frustrations with the first person they speak with
50% of callers will hang up if given more than four choices
94% of customers will report your new phone system as satisfactory if you mail to them an educational piece explaining the new phone system before you install it
64% will give the same satisfactory rating if you do not mail the educational piece

These two tips can also help:
Hire an accent neutral professional announcer for your recording.
Put the "press one" or "press two" options at the end of the instructional sentence as well as at the beginning.

Catalog and internet sales - If you have avoided getting into the mail order or internet trade because shipping and handling is an expensive hassle, you may want to rethink your position. Businesses that create and utilize a catalog for mail order shopping, or an internet sales catalog, report they not only gain new customers from outside their normal trade area, but they are finding that "shipping and handling charges" are an additional source of profits. 48% of businesses offering their goods and services by mail report they will make a profit from these charges. Another 41% of businesses broke even with shipping and handling charges.

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I know that many of you have enjoyed the posters I offer for free at each of the seminars I speak at. I heard a new one the other day that will probably become a poster for us in the near future.

"If you enjoy what you do, you will never work a day in your life."

Get your profits plus,
Tom Shay

 

MARCH 2024
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Small Business

Conversations

We are taking a break with the Small Business Conversations programs. However, we have the many years of the program cataloged by date on the website.

Small Business

AdvisorieS

The March Small Business Advisory remembers a line from many a western movie; "They went that a-way" and expressions similar to that distract from a business giving great customer service.

Small Business

News

Top Story

The big news item on November 30, 2022 was the advent of ChatGPT; Artificial Intelligence applications which many believe are used exclusively by big businesses.

This does not have to be true as there are many applications we share that have usage in a small business.


Article of the Month

"No plan B"; the subtitle to Van Morrison's Born to Sing album. The idea of no plan B also applies to a small business when you think (or is it when you don't think) about when the time, or opportunity, comes that you can sell your business. Generally speaking, a small business owner gets less money when they decide to close their business.


Book of the Month

"Escape from Cubicle Nation" is the March book of the month. While directed towards those working a corporate job and wanting to become an entrepreneur, we remind readers about utilizing their gut feeling to make decisions in their business.

After all, you did use your gut feeling when you decided to open or purchase your business.

BOOK US

With over 25 years of frontline experience Tom Shay is America's leading Small Business Management Expert. He's a "Must Have" for your next event.

Small Business

Conversations

We are taking a break with the Small Business Conversations programs. However, we have the many years of the program cataloged by date on the website.

Small Business

Advisories

The March Small Business Advisory remembers a line from many a western movie; "They went that a-way" and expressions similar to that distract from a business giving great customer service.

Small Business

News

 

Top Story

The big news item on November 30, 2022 was the advent of ChatGPT; Artificial Intelligence applications which many believe are used exclusively by big businesses.

This does not have to be true as there are many applications we share that have usage in a small business.


Article of the Month

"No plan B"; the subtitle to Van Morrison's Born to Sing album. The idea of no plan B also applies to a small business when you think (or is it when you don't think) about when the time, or opportunity, comes that you can sell your business. Generally speaking, a small business owner gets less money when they decide to close their business.


Book of the Month

"Escape from Cubicle Nation" is the March book of the month. While directed towards those working a corporate job and wanting to become an entrepreneur, we remind readers about utilizing their gut feeling to make decisions in their business.

After all, you did use your gut feeling when you decided to open or purchase your business.