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Profits Plus Solutions for Small Business
Retail Expert speakers Retail Management training seminars

 

  e-ret@iler newsletter
April 2008
Volume 9 Issue 5

 

Profits_Plus Solutions
Tom Shay Photo
Article of the Month

Giving the Boss
a Job Review
by
Tom Shay

Job reviews should be a regularly scheduled part of an employee's job. If you are going to give them a raise, you need to be able to tell them why they earned the raise they got and what they can do to earn more.

But what about the boss? What if you were to ask your staff to let you know how well you are doing? Take a look at this month's article to read about this unique concept. Click on Article of the Month to read this article.

Book of the Month

Generations at Work
by
Zemke, Raines, and Filipczak

Look around your business and your employees; see that teenager? How about the thirty-something? Then there is someone in their 40's or 50's and a couple of retirees working there.

It is a complex issue of getting people from multiple generations to work with and understand each other. This book can help you to understand the wants, needs, and behavior traits of each of the generations working in your business.

We have more books to suggest for your reading. Click on Book Referral to visit this page on our site.

e-ret@iler Conversations
Conversations


Visit our e-ret@iler conversations, find the category of interest and post your comments, questions or best practices. You may also go directly to one of our categories by clicking on one of the links below.
  1. Advertising
  2. Employee Issues
  3. Financial Management
  4. General Discussion
  5. Merchandising
  6. Sales Techniques
  7. Vendor Issues

 

Contact Us


Profits Plus
P.O. Box 1577
St. Petersburg, FL
33731 USA
(727) 464-2182 Voice
(727) 898-3179 Fax

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Business Advisory

Thursday, April 24 is "Take your child to work" day. If we are to have a next generation that enjoys the work that we do, we have to invite them to see and participate in what we do. This event is an appropriate time for us to share again with you a letter that we received from a reader. I invite you to pay particular attention to the part where he discusses the challenges of coming home and complaining about what he does. I think he has an important message. We refer to the letter as 'the letter from Ron'. I hope you enjoy it and take the kids to work on the 24th.

$$$$$$$

Every day in our office, we are on the phone speaking with people in many areas of business all over North America. We make a point to ask the question of, "How's business?" And lately we are hearing a lot of people answer with, "Not good".

We can't argue with the numbers, but we can suggest that they are likely to be a lot of people that are not paying attention to the shifts that are happening in the economy. Allow me to give an example. If new car sales are down, this means that people are holding onto their current vehicle for additional years. As this happens, that current vehicle is out of warranty and the owner now needs a local service center to take care of that car for them. This brings a new customer to the service center.

Unfortunately, what we are hearing is people tell us that their customers are putting off repairs to their vehicles. While that may be so with existing customers, I think the service center is missing an opportunity to gather in this new potential customer.

The story continues as that same current customer that puts off repairs may decide to do the job themselves. This brings a first time customer to the auto parts store.

The scenario that is outlined helps to explain the challenge of business today. When conditions change, a business is likely to lose some customers, but the progressive business is busy looking to see who could now become a customer. It is like the title to one of our most popular presentations, "Your customer doesn't live here, anymore!"

Internet Tip of The Month
‘Price Rounding’ Calculator

Another of our most popular, and definitely important seminars is where we teach how to determine the prices of merchandise. While the session is about 90 minutes long, we found that attendees appreciated having an online calculator that will help them to implement what is taught in that session. This calculator definitely helps you to make more profit!

‘Price Rounding’ calculator

The Power Promoting Idea of the Month

Community Service Awards!

Another of the readers of the e-ret@iler shared this idea that was a part of our Power Promoting books. They noticed that their customers were very actively involved in many community organizations. They decided to create an award that is their version of the "Community Involved Resident of the Month". Of course, you could do this on a monthly, quarterly, or annual basis. Hanging a photo of the customer on the wall of your business, giving them a trophy or certificate of recognition and doing a story for the media says that you appreciate your customers as well as you get a bunch of unique publicity. This makes your business stand out from the competition.

This idea is #19 from the red More Profits Plus Power Promoting Ideas book. You can order your copy by clicking on the link below; only $9.95 plus postage.

Profits Plus Resource Center

Where's Tom?

As we spring spreads across North America, here is the current calendar of engagements:


April 3 Amelia Island, FL
April 11 St. Cloud, MN
April 19-20 Atlanta, GA
May 3 Phoenix, AZ
May 19 Alexandria, MN

Copyright Notice

Profits Plus Solutions, Inc.
PO Box 1577
St. Petersburg, Fl 33731
(727) 464-2182
Fax: (727) 898-3179