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

June 2001
Sent at your request by Profits+Plus Seminars & Tom Shay

What you will read in this month's issue of the e-ret@iler:
1. A new article on the Profits+Plus Seminars website
2. e-ret@iler advisory of the month
3. Your free subscription to the e-ret@iler
4. Contacting Profits+Plus Seminars and Tom Shay

1. Building a Team
Our June article on the Profits Plus website is entitled,
"Building A Team".
There are many similarities in the way a baseball team develops their players through the minor leagues, and the way a business can develop their employees. In the June article, "Building A Team", we discuss your employees and your winning your own version of the "World Series".

2. Being in business and the genus "lemmus"
Look at the newspaper or watch the television and you are surely exposed to those that want you to think there is a big decline in business. When you look at a current issue of a trade magazine, and place it next to an issue from a year ago, you will probably see a thinner magazine. This is because manufacturers are buying into the declining market idea, and have decreased their advertising.

Does this trend need to have a trickle down affect to your business? Absolutely not! There is a story about the man who had a corner hot dog stand. He worked hard selling hot dogs every day to put his son through college. The father had a good business that grew from year to year. He paid attention to each of his customers, knowing many of them by name.

The son, a business major, came home to visit his dad and noticed the large quantity of hot dogs, buns, drinks and condiments on his hot dog wagon. He said to his dad, "Haven't you been reading the newspaper and watching tv? Business is declining. You should not keep so much inventory on hand."

The dad, thinking that his son must be learning a lot at college, decided to cut back on the amount of supplies on hand. And as he did so, sure enough, business declined. As he cut back further on his inventory, sales continued to decline. And within a short time, the dad's hot dog stand was fulfilling what they had seen on the news; business was really off!

This is where "genus lemmus" comes into the story. The lemming is a bird that lives in the Artic. There is a sub-species of the birds, genus lemmus, that is known for their suicidal swim into the ocean. One starts the dive into the ocean and they all follow. Whenever I see businesses going in a direction because, "that is where business is going", I refer to them as being lemmings.

This act of being a lemming by other merchants can actually benefit you. Perhaps you are a pharmacy and you are calling on nursing homes. Or you may be a building material dealer calling on contractors. Of course, you have competitors who may be hearing and reading these reports. If they are "cutting back" on their staff making these calls, this can be an excellent time for you to gain extra business by making the calls your competition is no longer making.

Whatever products and services you sell, today is an excellent time to look about your trade area. Ask questions of your customers to see if your competition is cutting back. Remember, if the reports say there is a 2% cutback in spending, doesn't that mean that 98% of last year's business is still out there. And wasn't last year a great year for you?

We know there are two kinds of businesses out there. There is "genus merchant extraordinary" and there is "genus lemmus". Look for every opportunity possible and be the extraordinary merchant folks are talking about.

3. Your free subscription to the e-ret@iler
If you have received this edition of the e-ret@iler by way of someone passing it onto you, you can add your name to the free subscription list by clicking on this link and putting the word "subscribe" in the body or reference line of the e-mail.

4. Contacting Profits+Plus Seminars and Tom Shay
Thank you for inviting us onto your desktop, and taking the time to read our newsletter. We trust you have received some business building ideas from it as we look forward to seeing you again next month.

Get your Profits Plus,

Tom Shay

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(727) 464-2182
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