October 2019
Volume #20 Issue #11

Small Business Saturday and the "why"

We like the idea of Small Business Saturday. It is one of two big events that invite people to shop with a small business for what we think are the right reasons. While it is 61 days away (November 30), let us suggest your getting started in making your plans for the event. Here is a link to the site where your business can sign up to be a part of the event as well as create some free marketing materials.

Small Business Saturday

And the right reasons for supporting a small business? You will find that list on this site. You should tell your customers and elected officials about this list.

Independent Retailer Month

On a personal note, thank all of you who took the time to write and call to ask about my Rusty. As I presented to a group last week, the first person to approach me after the presentation asked, "How is Rusty doing?".

Rusty is doing much better. His hospital stay was very short. The doctor commented she was amazed at his recovery and his doing it so fast. Rusty is home and getting better as he works to become his active self and regain his weight.

Unfortunately the same week Rusty came home, I had two friends who lost their pets. Kimberly Foy lost her Harley.

Ben Simpson, who lost his Bruce, put it this way: The day after though is so much worse. The permanence and realization of how much time in every day involved Bruce. I find myself constantly expecting to see him in his normal spots. Unlocking the door in the morning, the only reason so I could put him out. The quiet, coming home to an empty house. It seems crazy the way we become so attached especially knowing that we are almost guaranteed to outlive them. I miss my good boy, my second shadow. Hug your furry friends, It's a minute you'll be glad to have taken.

Article of the Month - Offering Extended Hours

Coming into the holiday season, we understand why some businesses extend their hours. However, as we spoke to a group last week we discussed this topic at length. Look at your hours; look at when your customer is away from their job; look at when your customer is using your products.

Are the three of these in line? Too often the answer is "no". I remember the bike shop that closed at 5pm because other businesses in the area did likewise. Yet the owner of the show knew that most people were riding their bikes after 5pm. This same shop also opened at 10am and knew there was a large group of people that rode their bikes in the morning hours.

This is an example of a business that does not have the three components aligned.

This month's article tells of our experience of extending our hours.

Article of the Month

Who is visiting Small Business Converations this month? - Beth Montpas

Just a few weeks ago I read a very interesting article in one of the trade magazines I write for. The essence of the article addresses how many of us have a "to-do" list. What if you created a "to-be" list?

The article was awesome and insightful. With our inviting Beth to join us, we think this program could be the necessary extra push for each of us as we enter the last quarter of the year.

Book of the Month - Word of mouth marketing

We have asked this question frequently; "How do you get your new customers?".

The answer is referral or word of mouth, to which we ask if the business makes the referral or word of mouth happen, or does the business just wait for it to happen.

Interesting question. If you have been one of those we have talked with, or think you would like to make it happen, you will want to read Andy Sernovitz's Word of Mouth Marketing.

Business management books are a wonderful and wise investment of your time. We do hope you make the time to improve your business and yourself by reading business books.

Book of the Month

Internet Tool for Your Business - Cost of goods sold

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 scene, 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.

Cost of goods sold; an important piece of information on your profit and loss statement. Without it, you don't know how much your inventory is costing you. Without it you don't know how much, or if you are making money.

There are three numbers required to calculate this amount. What cost of goods sold is not, is the amount of checks you write during the month for inventory purchases.

Take a look at this calculator to see if your cost of goods sold is being calculated correctly.

Internet Tool for Your Business

Staff Incentive for Your Business - A car wash

"I refuse to give any employee an incentive to do the job I am paying them to do".

I have heard that comment many times over the past years, especially as I am such a strong advocate of having incentives. My push back to any person making that first statement is, "I agree with you. And when you get it to work your way, please call me so that I can come and see it working".

I am still waiting for that first call. So, here is our incentive suggestion for this month. Incentives should be there to increase sales, decrease expenses and resolve problems. You create the standards however you want; you can have one winner or many winners.

The reward we are suggesting this month is a car wash for the winner. Not just giving the money to take their car to the wash, but having someone who offers a mobile carwash to come to your business. This way the winning employee(s), their fellow employees, and your customers can observe. It will make for quite a conversation.

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.

What's coming up that you can promote? -

Give your existing and potential customers a reason to celebrate. We collect information from National Day Calendar and share certain events that we know you could include as a part of your promotional efforts.


Your customers will enjoy a fun connection with your business. You can easily use social media to promote the event. You will get the benefit of your event getting a tie in to events that local and national media promote. Our favorite example is that of chocolate pie. Yes, there is a chocolate pie day. If you are a grocery store or restaurant, it is a natural to tell your customers of the event and invite them to do business with you. Other business could do a joint effort with the restaurant or grocery store.

Putting these together can be quick and easy, but should be planned in advance. As an example, as this is October 1 you should be looking at what you can do in December.

Examples of December events include:

December 1 - National Pie Day (includes that chocolate pie day and more!)
December 3 - Day of Giving
December 4 - National Cookie Day
December 6 - St. Nicholas Day
December 7 - Pearl Harbor Day
December 13 - National Salesperson Day
December 20 - Ugly Christmas Sweater Day
December 21 - Flashlight Day (shortest day of the year)

December is Operation Santa Paws Month

December is Write a Business Plan Month (nothing to celebrate; you just need one)

We want to thank National Day Calendar for this information. National Day Calendar -  Where the world gathers to celebrate every day.