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Independent Retailer Month - the 23rd year Thirty days from now we start the 23rd edition of Independent Retailer Month. We are talking about it now so that you have the month of June to prepare how your small business is going to participate in the event. Most of us have likely heard a radio or television announcer tell of the significance of any particular day. Perhaps it is chocolate chip day; national firefighter's day; black dog day; or any other significant designation. Twenty three years ago, creating one of these days was a matter of registering the event with the publishers of a book titled, "Chase Calendar of Events". We created the day as a part of a presentation to show how easy it is to have an event named for your community or your type of business. Apparently our suggestion worked as we have seen a lot of unique events created. There is even a national organization that has copied our efforts by having created, "Independents Month" a couple of years ago. Since its creation twenty-three years ago, we have added much more meaning to the significance of the celebration. The website, indieretailermonth.com shares information that tells of the importance of an independent retailer to a community. The website also tells of how consumers prefer to do business with independent retailers. We think this information is more valuable and important than the many efforts we see that are trying to shame people into shopping with an independent retailer. People will shop because it makes them feel good; not because they feel guilty if they do not shop at an independent retailer. Article of the Month - Traits of the Great Part 2 The June Article of the Month is the second part of a report on what we have observed the best businesses are doing. This is a question we frequently hear as people want to know what they can do to improve their small business. Watching the best small business owners can provide lessons we all can use. Book of the month - Warren Buffet on Business With Warren Buffet, "the Sage of Omaha," having announced his retirement, this is an appropriate time to suggest his words of wisdom. The book has a subtitle of, "Principles from the Sage of Omaha and is co-authored by Richard J. Connors. We have all observed the volatility of the market in the past six months. Of course, this volatility can affect our businesses. Let's listen to what Warren Buffet has to say. Internet Tool for Your Business - "If I lower my price, I will sell more", is a saying that seems to have been taken as fact for many small business owners. Is there truth to the saying? Perhaps, but what is more important is knowing what happens to the profit when you do so. We have created a calculator that can answer the question for you. The calculator can even answer the question in two ways. If you lower your price, how many of an item or service do you have to sell to have the same gross sales? How many of an item or service do you have to sell to have the same gross profit? Forget the saying; look at this calculator and get the answer that is right for your business. Each month, we highlight one of the 47 free tools on the Profits Plus website; we call them "calculators". While some provide analysis by numbers and ratios, some are assessments, and others are self-examination questions. Many are downloadable, while others, because of the complexity of the calculations going on behind the scenes, are a part of the website and allow you to print your answers. None of them require you to give any personal information, nor are there any "cookies" tracking you or your information. Internet Tool for Your Business Staff Incentive for Your Business - Recognition and appreciation; all of us love receiving them. For some of us, giving either of them is easy, while giving recognition and appreciation is a challenge for most. For the recipient, and their co-workers, we ask if the recognition and appreciation is given in front of others. Research shows that when someone observes another person doing something nice, the observer also gets a warm feeling. It also shows the observer what they can expect when they are deserving of recognition and appreciation. There can be added value when you are giving both recognition and appreciation in front of others. We want to recognize A Carrot A Day by Adrian Gostick and Chester Elton, whose book provides the basis for each month's incentive idea.
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JUNE 2025
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With over 25 years of frontline experience Tom Shay is America's leading Small Business Management Expert. He's a "Must Have" for your next event.
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July 1 marks the start of Independent Retailer Month. This will be the 23rd year. We tell the how and why we created Independent Retailer Month. And, why we believe you cannot shame customers into shopping with you.
The second part of "Traits of the great" as we look at ideas of what we have learned from the great small business owners.
With Warren Buffet retiring, we thought it appropriate for our book of the month to be, "Warren Buffet - The Sage of Omaha". What he shares can be applicable to our small business.
