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 Selling "item and price"; a sure recipe for disaster for any small business regardless of whether you sell products, services, or both. It is a game you cannot win. Most everything you sell or provide falls into the category of "discretionary spending". This means the customer is spending money they do not have to spend. Therefore, this spending is for enjoyment of the product, the service and/or the experience of spending the money. Selling begins with your deciding you are going to enjoy the process so that your employees and your customers can also do so. We can see many businesses selling the wrong stuff, and a few businesses selling the right stuff. It does not matter if the business is selling a product, a service, or a combination of the two. |
NOVEMBER 2024
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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.
Small Business
Perhaps you have investments outside of your small business; gold, stocks, bonds or money market funds. With each you likely know what the rate of return is.
What about your busines? Do you know what the rate of return is for your business? You should. After all, you do not want to be the person who has just bought themselves a job.
Small Business
We see a lot of social media with what we think is a "sympathy plea" do do business with local small businesses.
It is not going to work. People select where they do business based on positive reasons. We discuss what we are seeing.
A timely article for the holiday season. With any business that has inventory, are you looking at sales per square foot? Are you looking to see which is the most valuable space in your business? You can increase sales by knowing which items to place where.
Fix This Next by Mike Michalowicz. We love this description of the book; The biggest problem entrepreneurs have is that they do not know what their biggest problem is.
If you find yourself trapped between stagnating sales, staff turnover, and unhappy customers, what do you fix first? Every issue seems urgent - but there is no way to address all of them at once. The results? A business that continues to go in endless circles putting out urgent fires and prioritizing the wrong things.
