Article of the Month
Exclusive or elitist
August 2008's article is about several aspects of your business and how you sell to customers. Imagine a customer that has been purchasing a lesser quality, and less expensive product at a mass merchant.
Now they come to your business and find a higher quality product at a price that reflects the higher quality.
How do you introduce the customer to higher quality and help them to see the value?
Click on Article of the Month to read this article.
And be sure to look us up on You Tube to see our new video on this topic.
Book of the Month
The Enthusiastic Employee
David Sirota, Louis A. Mischkind and Michael Irwin Meltzer
Need I say more? Yes, because it is not about finding the right employees. It is about how to be the right manager. The book is a bit 'deep' but the forms and evaluation material in the back of the book are most helpful
We have more books to suggest for your reading. Click on Book Referralto visit this page on our site.
We have a lot of new information on the e-ret@iler conversations blog. We invite you to add your comments, ideas, and observations.
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.
- Employee Issues
- Financial Management
- General Discussion
- Sales Techniques
- Vendor Issues
P.O. Box 1577
St. Petersburg, FL
(727) 464-2182 Voice
(727) 898-3179 Fax
Send Tom an e-mail:
Send our staff an e-mail:
So, how is everyone enjoying the new search tool we have added to the website? And we trust you are enjoying the music that we have made available while you work on the Profits Plus website.
Looking ahead, we have another new calculator tool that will be on the website by the end of September. This tool will help you to understand all the aspects of the profit and loss statement and how that information transfers to the balance sheet.
Our business advisory for August 2008 is another website that we have found. It is called 'biz stats' and is full of free financial information. The data you find on their site would help you to 'benchmark' your business using the free tools on our site.
The idea of a 'benchmark' is answering that question that everyone wants to ask, "How is my business doing compared to other businesses in the industry?"
You can find Biz Stats at BizStats.com
Internet Tip of The Month
Store evaluation form
We have created a new tool that you can download for free. It is a 12 page PDF file that will guide you through a 10 point evaluation of your business. The evaluation form is based upon our presentation, "What it takes to be a 5 star business". You can listen to a free audio of the presentation by clicking on this link:
What it takes to be a five star business
And you can download the evaluation tool by clicking on this link:
Tom Shay's Store Evaluation Tool
The Power Promoting Idea of the Month
Give awards to your customers
This promotion focuses on existing customers and the products/services that your business provides. Awards were given based upon usage of your products and services. As an example, a garden center had a monthly award to the most attractive lawn. The criteria for entering the contest was that products from the garden center had to be used.
A party shop could have a contest for the most creative Halloween costume. Again, customers must purchase their costume components from the party shop.
You can likely get your vendors to participate by providing prizes. Taking photographs and posting them in your business is a great way to gain more participation for future events. And don't forget to tell the media about your award.
This idea is #34 from the 'red' 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
Fall is in the air or it is at least cooler in some parts of the country as I begin to travel to other parts of the continent. In September we have a couple of trips to visit our Canadian retail friends.
As we get back on the road, here is my current schedule of appearances for the next two months:
August 9-10 Atlanta, Georgia
August 18 Las Vegas, Nevada
August 20 Chicago, Illinois
September 7 Montreal, Quebec
September 10 Springfield, Massachusettes
September 17 Golden, Colorado
September 18 Sacramento, California
September 20 Waterloo, Ontario
September 21 Toronto, Ontario
September 23 Las Vegas, Nevada
September 24 Wooster, Ohio
September 25-26 Toledo, Ohio