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I never knew you were gone

Because you never let me know you were there

As we moved back home to Arkansas, Marilyn decided she wanted a stadium seat. She had seen one at a game the previous week and asked the seat owner where the seat was purchased.

Within days she was in the store and found the identical seat. The person in the shop told Marilyn that for only a couple of dollars, she could have her name imprinted on the back of the seat along side the school mascot. The personalized seat would be ready in a few days and the shop would call to let her know when the stadium seat was ready for pickup.

And with that, Marilyn has enjoyed her purchase.

Jump forward to some ten months into the pandemic, we are driving by the same shop only to see a “for rent” sign in the building. We ask each other to confirm that this is the building where the stadium seat was purchased. After confirming the location, we wonder how long the business has been gone.

Of course, the shop sold more than stadium seats as on our initial visit we saw several items we would consider for future purchases. However, as the shop is now closed, purchases are no longer an option.


We expect there will be plenty who will say the business was a victim of the pandemic. While there is no denying the pandemic COULD have been a factor if the business closed in the past ten months, there could be other reasons. And if the shop closed earlier than that, the pandemic was definitely not a factor.

The title of this article shares our thoughts of the business; “I never knew you were gone”. We have no idea of when the business closed. In spite of our having seen items we liked, once we left the business after that initial visit the store was forgotten. What was missing?

The shop did not send anything with us on either of our visits. Perhaps the business had a Facebook page. Perhaps they sent newsletters and new product announcements to their customers; just not to us.
With any business, there are many opportunities and ways to stay connected with the customer. This business used none even as they had all of our contact information. Hence the second part of the title of this article; “You never let me know you were there”.

My observation is this business operated in the same manner that people do in their personal life; we place little value on items which are plentiful. In the case of business, when the customers are plentiful, we seem to place little value on keeping them. If we lose a customer we expect we can easily replace them.

Those of us reading this magazine in the USA, what if we had the population of Canada? The 328 million potential customers would only be 38 million. This means that if you have 100 customers you would now have less than 12.

How much effort would we put forward to keep a customer? What effort would be put forth to earn a customer’s business and their response of sharing their contact information?

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This article is copyrighted by Tom Shay and Profits Plus Solutions, who can be reached at: PO Box 128, Dardanelle, AR. 72834. Phone 727-823-7205. It may be printed for an individual to read, but not duplicated or distributed without expressed written consent of the copyright owner.

MAY 2024
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Small Business

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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.