Yet unbelievable as it may seem way too many retailers I have talked to are NOT CHANGING THEIR THINKING OR STRATEGIES. Too many retailers already see the writing on the wall and just shrug their shoulders and appear in a coma.

Most had a solid customer base at one time, but never even bothered to collect names & addresses or email addresses because "they will always come back - this shop sells itself."

          Are you kidding me? It does not take a rocket scientist to see that this economy has changed everyones spending habits for now and the forseeable future. Retailers better come up with a way to deal with the FEAR FACTOR gripping everybody these days. THE REGULAR CUSTOMER IS NO MORE. He is hoarding his money more than ever and only those retailers who truly satisfy his needs or desires will get one penny of his hard earned money.

        A new upscale restaurant is opening in Huntington Valley this month - Christine's. I bet if he could get a good chunk of his money back- he would go for it right now. So what is the owner doing - he is thinking outside the box with things like ......

1) a new menu every month

2) eliminate stocking and spending for upscale dishes such as Lobster and buying more of the same beef for less

3) fewer menu choices

4) Ask the customer what he wants - and then offer it on the next visit. The customer has never been "the KIng" quite like this before. 

   What techniques are small business using now to survive and thrive?

   1) We cater on a personal level to the needs and wants of our target audience.

  2) We have a hard core of devoted regular customers unswayed by just lower prices or fees.

  3) We display family values and our families support us - our customers sense our strong family values.

  4) We feature local and home grown products and use other local business people and subcontractors to support our businesses.

5) When given a choice, We use locally owned businesses whenever posiible to keep our local business communities strong.   

1) Leases for property & equipment............supply outways demand by a lot

2) Ofiice supplies - buy in bulk and ask for bids..........

3) Insurance - shop around you will be surprised by the new quotes

4) Autos- upgrade and get more car for the buck - check out deals on big suv's that still qualify for special tax write-offs  

5)  Banks - shop for better deals with less fees and lower credit card fees......and soon maybe more flexible loan repayment

terms.

6) Seek reliable suppliers that you may find on auction sites

7) Look into a legally run barter club to conserve cash   

1)  capital expenditures that you delay purchasing for a few months or negotiate better terms & payment schedules

2) get better prices from vendors or search for vendors who will

3) be more aggressive in collecting accounts receivables or offer mmore discounts for prompt payments

4) get competitive quotes for professional services - insurance, legal, accounting, etc.

5) negotiate a better lease deal with landlords and equipment leases

     Factors that tell you that it's time to let go of your dream:

 1) The business needs constant personal cash to fund the business checkbook expenses.

2) You cut dramatically your advertising & marketing expenditures

3) You constantly put out "fires" in your business.

4) You can't make quick business decisions anymore

5) You can't stand to go to work anymore - you get depressed.................

1) uncertainty as to whether their will survive

2) insufficient startup capital

3) lack of research into the industry they are entering

            Time & time again I have seen startups reach their first crisis because an easily handled task is not computerized at the get go and when the sales suddenly kick in, the manual system in place is no longer usable due to sheer volume. As a result,  stress develops because the manual or excel based system no longer works. This problem is especially acute in the retail business where customer service is key. Not having the right inventory at the right time and lack of  up to date inventory levels and sales tracking capability can kill you. Maybe you did not need an automated POS sytem the day you started the business, but basic reseach into your industry would have told you that can't survive without it.  

Let compare Today's business world with that of ten or twenty years ago....................

OLD BUSINESS WORLD

1) ONE OR TWO JOBS DURING LIFETIME

2) EVERYONE DRIVES OR COMMUTES TO WORK

3) GREAT COMPANY PAID PENSION PLAN

4) GREAT COMPANY PAID HEALTH PLANS –SOME LIFETIME

5) FEW SUBCONTRACTORS

6) CHEAP GAS

7) RISING HOME VALUES – 2^ND PENSION PLAN

8) PAY PHONES

9) CAN HIDE INSIDE A BIG CORPORATE JOB

NEW BUSINESS WORLD

1) MANY EMPLOYERS DURING LIFETIME

2) TELECOMMUTING & 4 DAY WORKWEEKS

3) 401K & LITTLE OR NO COMPANY PAID PENSION PLAN

4) SHARED EMPLOYER / EMPLOYEE HEALTH PLANS

5) MANY SUBCONTRACTORS & OUTSOURCING

6) $4.00 GAS

7) DECLINING HOME VALUES –2^ND PENSION PLAN

8) CELL PHONES

9) LEAN & MEAN RUN CORPORATE WORLD

          The bottom line is that you have no choice but to adjust to the NEW business wrld of today and come up with new out of the box strategies in order to compete & survive.

       WOW - that's what I always referred to as "passion" or "love" for the product or service you are trying to sell. To me - It's the dealbreaker in getting someone to really listen to your pitch. Either you have it or your don't. That does not mean you have to be borne with this trait - it comes from within from truly believing in the product or service that you are peddling. I think it develops naturally as you get to know the product or you get more confidence that the service you are providing has real benefit and value to the user.

  We all go thru slumps in our business caused by things that interfere with our Sales Mojo such as:

1) unresolved personal issues in our life

2) recent tragic events in our life

3) business startegy mistakes

   If we can't think our way out of these slumps, we need to consult a qualified sales trainer who will study our technique and get us back on the road to success.

1) Police & Fire Departments - It may not be serious enough for us to call 911 - so what's the # ?

2) Poison control

3) Doctor / Pediatrician

4) Animal Control - hit a deer?

5) Insurance Company in case of a car accident

6) Next door neighbor - landline & cell phone numbers

7) Hospitals nearby

8) Power / Cable / Cell phone company repair - in case of outages

9) Accountant / Tax advisor - question comes up when buying a car / house / rental property

10) Lawyer - for various disputes with authorities

11) Babysiiter / Petsitter

12) Computer consultant -laptop on the blink

13) Your Kids best friends - can't locate your children?

14) 24 hour Car repair place - such AAA

DO you know of any other phone numbers that I neglected to include?