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

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

What you will read in the July 2001 issue of the e-ret@iler:
1. The article of the month talking about finding extra profits
2. e-ret@iler advisory of the month: Making Marketing Mistakes
3. Win a copy of our EZ Cashflow management book
4. Your free subscription to the e-ret@iler
5. Contacting Profits+Plus Seminars and Tom Shay

1. Finding Profits Through the Back Door
The July article on the Profits Plus website is entitled,
"Finding Profits Through the Back Door".
We always look to increase our profits by increasing our sales. But there is another way of looking at things. As my mentor, the late Jack Rice, used to say, "If you don't spend it, you don't have to make it". Take a few minutes to click on the link and read the article of the month, as we provide you with 10 ways that businesses often overlook as ideas that can increase your profits by reducing costs.

2. Making Marketing Mistakes. I recently read an article by Orvel Ray Wilson of the Guerrilla Group. In the article, Wilson outlined 10 common mistakes that are made with marketing. Of course, as I read such an article I am looking for ways that the story can apply to small businesses. Here is my take.

#1. The problem with the mousetrap. "Build a better mousetrap and the world will beat a path to your door", is an old adage. It is wrong from two points. The first is that mice, and rats are creatures of habit. When you set a mousetrap, if it does not catch its prey in three days, it needs to be moved to a different location. Rodents do not go out of their way looking for things. The same is true with customers; you have to look for them - constantly and intently.

#2. Marketing takes money. If you think this is true, then you have not read my book, "100 Profits+Plus Ideas for Power Promoting". The best ideas I see and hear about as I travel always cost little or nothing.

#3. Have a target. You can't be everything to every customer. Aim with a "rifle" and not with a "shotgun". Remember, the more you niche, you more you get rich!

#4. Have an identity. Let the customer know you and your staff by sight and name. Whether you are a manager, owner, or salesperson, the customer wants to do business with an individual - not a company.

#5. Price. Too often, I hear someone describe their business. "We have great products, open plenty of hours, are very knowledgeable about our products, give the best service in town, and have great prices", is the jest of the comment. My question is, "If you have all of this neat stuff, why do you need a great price? Neat stuff has a cost, and should have a price that reflects it."

Anyone can give quality at a cheap price. It is the professional that can sell it for what it is worth. Are you a professional?

#6. Taking a survey. Simply said, ask your customers how you are doing.

#7. What's the idea? If you market (advertise or promote), what do you want to get from it? A certain amount of sales from the items you are advertising? Overall sales to increase for a certain amount of time? Announce a new product line? Get your image seen by potential customers? If you have not answered these questions, how can you ever know if your advertising and promotion have worked?

#8. Incomplete stories. Yes, readership does fall off after the first 50 words. But for the interested customer, they will read more.

#9. That vendor thing. If you have ever heard me speak, you know that I consider the sales representative to be so very valuable to your business. And if you don't have sales reps calling on you that you value, about 50% of the blame is yours. You have to work hard to develop that relationship.

#10. Quitting in the 3rd quarter. You may have unreasonable expectations of your efforts. Have a marketing idea and believe in it. Then give it plenty of time to succeed. If you don't have full confidence in the marketing, and are not putting all of your effort and energy into it - then don't do it!

3. Our new "website prize of the month". Hey, we just want to see how many people we can get to take a look at the website. Here is a link to the Resource Page (A fancy way of saying the place where we sell stuff!) Take a look on the page, see what is the name of my wife, and send me an e-mail with the answer. The first five winners will get a copy of our EZ-Cashflow book containing a floppy disk that will do most of the work for you. The book sells for $30, but is free to the first five correct answers. Everyone is eligible to win. (Except my wife)
Resource Page

4. 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.

5. 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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