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e-ret@iler
August 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.
The Opposite of NO 2. Gambling at the local level As often as I have the pleasure of traveling to a trade show or conference in Las Vegas, I have never found the gaming areas to catch my attention. The same is true when I have traveled to Biloxi, Mississippi, New Orleans, Louisiana, or any other city with gambling. My comment to folks was that I consider retailing to be enough of a gamble. Actually, as retailers we all need to become gamblers - at least within our business. I recently worked with a group that I had presented an idea to some 60 days previously. Their merchandiser immediately contacted the supplier and enlisted them to appear in their trade show. After the show, I was told some 40% of their stores decided to try the idea. The cost of the idea was only $100. Some folks said they did not want to gamble. Yet, they gamble every day. As an example, you expect a certain Saturday to be a very busy day, and you schedule plenty of help on the sales floor. Instead, after you have been open for an hour, it begins to rain. And it rains a lot all day long. You have wasted a sizable number of dollars in unproductive personnel unless you can get everyone working using your "rainy day project list". Wayne Gretzky, the great hockey player, said, "you will miss 100% of the shots you don't take." Have you taken any shots today? 3.
Your free subscription to the e-ret@iler 4.
Contacting Profits Plus Seminars and Tom Shay Last, and most definitely, thank you for inviting us onto your desktop, and taking the time to read our newsletter. Get your Profits Plus,
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FEBRUARY 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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Hopefully there are few small businesses that are operating with handwritten documents. Whether you have a point of sale (POS) system; Curstomer relationship management (CRM) system; or anything digital that helps you better operate your business, there remains a question.
Are you using everything that you bought? That is the focus of the February Small Business Advisory.
Small Business
As small business ownerss we are sure to disagree on many aspects of business management and ownership. However there are two items that I will always insist on.
The first item for you as manager and owner of a business, you must inderstand financial information. You cannot leave it to an accountant. The second item is you have to invest in educating your staff regarding their responsibilities within your business.
Most every small business has inventory. It may be inventory used as a part of your services. It may be inventory for items used in your business. The article of the month shares ideas of how you should control the inventory. This is important because you do not want to run out of the necessary inventory, and you do not want too much of your money sitting in more inventory than you need.
You cannot beat your competition unless you know what they are doing. The February book of the month is, The Everything Store, written by Brad Stone and Jeff Bezos.
