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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.

e-ret@iler from Profits Plus and Tom Shay
ideas to sell more merchandise and services
June 2003 - Our 43rd consecutive edition

The June issue of the e-ret@iler contains:

1. The article of the month: Leveling the Playing Field
2. e-ret@iler advisory of the month: Conclusion of Motivating Customers to Buy
3. Our Power Promoting idea of the month: Charge Accounts
4. Your e-ret@iler subscription and contacting
Profits Plus and Tom Shay

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

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1. Article of the month: Leveling the Playing
Field
Every type of business has competition from another
business. The competition may be anywhere from next
door to many miles away. In today's market the
competition may also include someone that sells by
catalog, or from the Internet. In many situations,
the competition has a much stronger financial
position from which to operate.

Do not read this as discouraging. Instead, see it
as the position of strength of the competition as
well as telling you what their weaknesses are as
we work to develop a plan of attack.

Read the June 2003 e-ret@iler and you will see some
great ideas for developing your position of
strength.

Click on the link below to see the June article of
the month, entitled:

Leveling the Playing Field

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

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2. e-ret@iler advisory: The conclusion of the
'motivating customers to buy' series

During the past several months, we have discussed
a piece of research that Bob Woodhall of Jupiter
Music shared with us. In these past few issues of
e-ret@iler, we found that two out of three
customers have not made up their mind about
what they will purchase when they contact or
visit your business.

We also found that seeing the merchandise
displayed was the strongest single influence
upon a customer. The second largest influence
was the manufacturer's advertising, followed
by someone in the family requesting that product,
and fourth place went to their hearing about the product.

Think about a man walking into a store to
purchase a white shirt. With the research material
we have examined in the past few months, it does
not appear it is very likely that he will ask
for a particular brand.

The same should be true for a person asking to
have their car tuned. How often will they instruct
the mechanic to use a particular brand of spark
plugs? Probably, very infrequently.

Will they ask for a certain brand of blank CD's?
Most definitely, we could find the person that will
specify a certain brand, or at least a preference
for taking a first look at a certain brand. But few
will initially ask for blank CD's by brand name.

What do we learn from these examples? How have
you arranged the products in your business?
Hopefully, with a great degree of discretion!
If two out of three people haven't made up their
mind ahead of time, and you are not frequently
experiencing people asking for products by
brand name, then you need to arrange products
so that those you WANT to sell - the ones that
are most profitable for you - are the ones that
customers most easily see.

And whenever there is merchandise for which the
manufacturer has supported with advertising, be
sure to use that advertising material to support
your in-store advertising.

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3. Power Promoting Idea for June 2003:

Do you have charge accounts? Take a look
at your existing accounts and see how many have
a zero balance when you send out statements.
These represent customers that have, most
likely, not been in your business for the
past month. I am sure you miss these customers
and most definitely miss their money being
spent in your business.

Why not do a little something extra to tell
these customers how you feel? Here is an idea
from the first book in Tom Shay's Power Idea
book series.

The next time you print statements, print these
accounts with a zero balance and hand write this
message on each statement: "You owe us nothing.
We wish you did. Please come to see us."

You will be amazed when you send these reminder
statements, how many people will respond by
coming in to your business and letting you
know they received your handwritten note.

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4. After searching the Internet for information
that pertains to your business, we create the
e-ret@iler newsletter each month in this short
format to provide you with some ideas for
making your business more profitable.

The subscription is free. If you received this
edition as "passed on" from someone else, you
can subscribe by visiting the Profits Plus website.

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Please continue to make an effort to locate
and do business with other small businesses.
You will meet some really great people and find
others who really appreciate their customers,
just the way you do!

Get your Profits Plus and may God bless you
and yours!

Tom Shay

 

MAY 2024
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Small Business

AdvisorieS

The May Small Business Advisory is titled "Planning for a successful accountant" and is appropriate for many with the April 15 tax deadline having passed.

 

Did you work with your accountant? Or, did you just give them a bunch of papers and wait to receive a completed tax return?

 

Successfully working with an accountant requires a partnership. This month's Small Business Advisory gives suggestions of how to make this happen in 2024.

Small Business

News

Top Story

We see that many small business owners have too much of a focus on the "top line" of their income statement.

 

Increasing revenue is great, but it is not a cure all for any challenges your business is facing. And sometimes, incresing revenue can create a challenge.

Article of the Month

Who is your customer? Some small businesses have no focus. Their customer is whoever calls or walks in the door.

 

And some small businesses have determined which customers, in sufficient numbers, they should spend their efforts to attract.

 

The article of the month shares an old Southern rhyming couplet about business; "The bertter you niche, the more you get rich."


Book of the Month

Lean Startup by Eric Reis is our suggested book for May.

 

As the title suggests, the reader of the book would be someone that is starting their business. However, we see more value than just that.

 

Perhaps you have been in business for many years. We think this book could give insight to items, and methods, that a small business owner should think about with their business today.

BOOK US

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

Advisories

The May Small Business Advisory is titled "Planning for a successful accountant" and is appropriate for many with the April 15 tax deadline having passed.

 

Did you work with your accountant? Or, did you just give them a bunch of papers and wait to receive a completed tax return?

 

Successfully working with an accountant requires a partnership. This month's Small Business Advisory gives suggestions of how to make this happen in 2024.

Small Business

News

 

Top Story

We see that many small business owners have too much of a focus on the "top line" of their income statement.

 

Increasing revenue is great, but it is not a cure all for any challenges your business is facing. And sometimes, incresing revenue can create a challenge.


Article of the Month

Who is your customer? Some small businesses have no focus. Their customer is whoever calls or walks in the door.

 

And some small businesses have determined which customers, in sufficient numbers, they should spend their efforts to attract.

 

The article of the month shares an old Southern rhyming couplet about business; "The bertter you niche, the more you get rich."


Book of the Month

Lean Startup by Eric Reis is our suggested book for May.

 

As the title suggests, the reader of the book would be someone that is starting their business. However, we see more value than just that.

 

Perhaps you have been in business for many years. We think this book could give insight to items, and methods, that a small business owner should think about with their business today.