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  e-ret@iler newsletter
December 2010
Volume 12 Issue 1 Profits_Plus Solutions
Tom Shay Photo
Article of the Month

Is this a business?
by
Tom Shay

The article for December 2010 is one that I wrote for the trade magazine for Christian bookstores.

One of the great aspects of being an independent is that many see their work as an extension of the passions they have in life.

In this article, I acknowledge the mission aspect of the bookstore. And I also ask the question if the business is doing all it can to extend that mission.

You are invited to read this article as it is written for the original readers, but substitute your business and what you sell.

Are you doing all you can to help those that have that same passion enjoy the products and services you are offering?

Click on Article of the Month to read this article.
Book of the Month

Be The Elephant
by Steve Kaplan

Another book that was suggested by an individual attending a presentation I gave this fall.

The book has great content. The graphics, layout and examples make it easy to read and comprehend what the author is saying.

The intent of Kaplan is to help you to determine how you can build a better business. Kaplan gets high marks for his efforts; you should too!

Click on Book Referral to visit this page on our site.

 
Contact Us


Profits Plus
P.O. Box 128
Dardanelle, AR
72834 USA
(727) 823-7205 Voice
(727) 898-3179 Fax


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Business Advisory

Rolling - Small business style

A big thanks to American Express for joining in the efforts to share the important news about the value of spending dollars with a local business. In addition to Unchained Day, created by the AMIBA group and celebrated on Saturday, November 20, National Small Business Day was the following Saturday, November 27 and included a very sizable giveaway as people were invited to spend money using the American Express card at an independent business and have the chance of getting a rebate on their monthly statement.

I personally like these two events because of the reasons they use to promote their events. Some causes and websites tell people it is their 'civic responsibility' to save an independent business. I hear those reasons but I do not think it is anyone's responsibility to save a business. Small businesses should exist on their own merit; because they are profitable and provide a product or service that members of the community need and want.

I think we are rolling as more people see the importance of small businesses in their community.

Stay tuned as we will soon have an announcement regarding Independent Retailer's Week for next summer. There are some big changes planned for the event.

$$$$$$

The November e-retailer conversations conference call was a warm up for the holiday selling. We had good attendance. If you missed it, you can visit the link below where you can listen to it online or down load it as an MP3 file for your portable listening device. As always it is free.

E-retailer conversations

The December conference call will be Tuesday, December 14 at 8:00pm eastern. Join us as we talk about fun and games. In our business we found that staff education was a very important part of building our sales team. We also found that engaging them by way of competition and games worked very well for increasing our sales. I will be sharing some of those ideas during that e-retailer conversations conference call.

There will be two invitations sent to you; the first on the weekend before the call and the second on the morning of the call. Join us for the last e-retailer conversations conference call for 2010.

$$$$$$

Magic Santa Dust

The link to Magic Santa Dust will share a story about a business that created a special event to help families celebrate Christmas. The promotion is easy and very inexpensive to implement. Once you start the promotion, expect people to tell others about your business.

You could get the viral marketing aspect of Magic Santa Dust going by way of Facebook, Twitter, your blog, or your newsletter.

$$$$$$

Thanks for taking the time from your busy day to read this edition of the e-retailer newsletter. This issue begins the 12th year of my having sent you something on the first day of the month. I take it as a compliment that you would take the time to read my observations and suggestions for business.

A blessed Christmas to you and yours.

 

Internet Tip of The Month

Inventory control - 'Open to buy' calculator

Want to greatly increase the return on investment that your inventory represents for your business? Read about 'open to buy' on the profits plus website. The link below will show you how the free Excel chart works (you can download the chart from the same page). On the website you can also listen to an audio track from the lesson as well as see a PowerPoint presentation on the topic.

It will be time well spent when you learn how to better control inventory. Inventory that is properly managed will lead to increased turns, maintained gross margin, and fewer unplanned markdowns.

Open to buy calculator

The Power Promoting Idea of the Month

What is your New Year resolution?

Count on it; the week after Christmas, all of the media is going to talk about resolutions for 2011. While many of their stories and articles will concentrate on health aspects, you can use this interest by your customers to gain attention for your business.

Summarizing the idea that I got from the business where I first saw it being used, customers were invited to write their contact information on one side of a 3x5 index card (this is where you build your list for print or electronic newsletters).

On the other side of the card, ask the customer to write their personal resolution for the New Year. Be sure to explain that the resolution, but not their name, may be shared with the media. You award prizes to customers based on the most creative, the most unique, the most unusual, the most likely to succeed, the most unlikely to succeed, and any other categories you want to create.

Award prizes for each of the categories and let the media know about your contest. Don't forget to include the social media as a part of letting the community know about your event.

 

 

 

 

 

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.
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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.

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Profits Plus Solutions, Inc.
Tom Shay
PO Box 128
Dardanelle, AR 72834
(727)823-7205