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

 
e-ret@iler from Profits+Plus and Tom Shay
ideas to sell more merchandise and services
December 2005 - Our 73rd consecutive issue
The beginning of our 7th year!

The December e-ret@iler contains:

1. The article of the month: Halt! Who goes there?
Friend or foe?
2. e-ret@iler advisory of the month: 3 words
3. Sales tip of the month: Relaxing
4. Web tip of the month: Accounts receivable
turnover
5. Our Power Promoting idea of the month: Here's
a Hint, Honey!
6. Book of the month: The Southwest Airlines
Way
7. Your e-ret@iler subscription, contacting
Profits+Plus and Tom Shay

O => Print the December issue of the
e-ret@iler so you can read it at your leisure.

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1. Article of the month: Halt! Who goes there?
Friend or foe?

If you have ever had a problem with the sales
representative from any vendor, then reading
the article for December should give you some
ideas of how you can improve what should be a
mutually profitable relationship.

Halt! Who goes there? Friend or foe?

O <= After printing the December e-ret@iler, check
here if you plan to read the article of the month.

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2. e-ret@iler advisory of the month: 3 words

In the past couple of months, we have been
looking at the seven major points from the book,
"The Stuff Americans are made of". We have
suggested that the concept does not just deal
with Americans, but with all people and that
retailers can use this information to improve
their appeal to their customers.

As this is our third look at the book, there
are just three words to descripe the next trait:
bigger, greater, and more.

As a customer, I think of something I purchased
at your business several years ago. Today as I
use that item, I now want the newer version. It
has to be bigger, greater and do more things for
me.

As consumers, we want everything that way! From
purchasing a vehicle, to a piece of jewelry,
electronics, and just about everything else
your business sells.

The question today is to ask if you are
recognizing this basic human desire and doing
what it takes to appeal to that aspect. If not,
you are likely missing sales.

O <= After printing the December e-ret@iler,
if you plan to review this material for your
business.

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3. Sales tip of the month: Relaxing

Some retailers looking at the holiday season
express their concerns about the problems of
this selling season. They do the same thing
every year - talk about demanding customers,
problems with the staff, merchandise not
arriving or running out of the most popular items.

Granted, some will see this as natural for the
season. But staff and customers will see this
as stress. And stress does not lead to a
comfortable shopping or working atmosphere.

From the customer's perspective, this is to
be the best time of the year. If they are
looking for ways to enhance the experience,
are they going to shop in the store that
creates holiday stress or are they more likely
to shop in the business where the management
and staff are enjoying the season?

Granted, there are plenty of situations where
you have a lot of stressful items in your
life. But, are you getting any part of the
solution to that stress by showing it to
your staff and customers?

O <= After printing the December e-ret@iler,
check here if you plan to use this tip.

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4. Web tip of the month: Accounts receivable
turnover

Last month we talked about accounts receivable.
For December, which is a month where receivables
are likely to increase, it is critical for your
cashflow that you are watching your collections.

This tool on our website, the accounts receivable
turnover calculator, will help you determine how
well you are doing with your collections. To keep
your business in great cashflow position, take a
look by following this link.

Accounts receivable turnover

O <= After printing the December e-ret@iler,
check here if you plan to look at the financial
ratios calculator.

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5. Our Power Promoting idea of the month: Here's
a Hint, Honey!

We found this quick and easy idea in a store
a couple of years ago and know other stores that
have sucessfully used this idea year after
year.

Think of the customer that shops in your store
and sees something they like. Knowing that it
is the holiday season, they decide to not purchase
the item in hopes that they receive it as a
gift.

To capture this business, a business card was
created. It is a double or tent format card
with the words, "Here's a hint, honey" on the
front cover. The traditional business card
information is on the back cover. Inside the
fold is this message:

"While I was shopping at (name of store preprinted),
I saw a (fill in name of item) that I would
enjoy having. The person waiting on me was
(fill in name of person) and their phone
number is (store phone number is preprinted)."

The card is then given to the customer to take
home and put on the dresser of their spouse.
Experience has shown that when the spouse
comes into the store to shop, they frequently
will share their personal contact information
and mention other significant dates such as
birthdays and anniversaries.

Where do we get all of these ideas for Power
Promoting? As you visit the resource center
on the Profits+Plus website, take a look at
the book with the blue cover and the one with
the red cover. The Ideas books are a great way
to jump start your store with some unique
promotional ideas. Each of these books is
only $9.95 US.

Click on the link below to visit the Resource center
to order these books. There are two promotional
ideas books and two management ideas books in
the 100 Profits+Plus Ideas series.

Order the Ideas books series

O <= After printing the December e-ret@iler,
check here if you plan to visit the Resources
Page to order the Ideas books.

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6. Book of the month: The Southwest Airlines Way

It is an interesting book as there are a lot of
similarities between airlines and retail. The
best part of the book starts about page 53 and
outlines the 10 Southwest practices for building
high performance relationships. As you read the
10, you will likely find 8 or 9 of them that are
appropriate for your business.

If you have already read this book, or are looking for
more books to read, follow this link to the list
of suggested readings on the book referral page
of the Profits Plus website.

Book Referral List

O <= After printing the December e-ret@iler,
check here if you plan to read the book of the
month.

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7. Your e-ret@iler subscription and contacting
Profits+Plus and Tom Shay.

The subscription is free. Just remember if you
are changing your Internet service provider, you
will need to enter your new e-mail address
to keep the e-ret@iler coming.

The upper left is a link to subscribe to this newsletter.

Contacting us is just as easy:
The phone is 727-464-2182
The fax is 727-898-3179
The mailing address is:
PO Box 1577
St Petersburg, Fl 33731 USA

We want to finish up by saying thanks for
being with us for each of the monthly issues
of e-ret@iler for the past six years. As we
start our seventh year, we renew our commitment
to provide you with the best and most complete
information with regard to the successful
operation of your business.

Thanks for visiting with us this month. We
appreciate your taking time from your
busy schedule. Our goal is to help you and
your business to become more profitable. We hope
we have done that.

We encourage you to seek out and do business
with other independently owned businesses. If
you are wanting people to do business with you
because you are a locally owned business, then
it stands to reason that we should be doing
what we are asking others to do.

Get your Profits+Plus. May God bless you and yours.
We will see you in January.

Tom Shay

Copyright Notice

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