How do you compete?
In sport there are two sides, each trying to do the same thing in order to score more points. I prefer military analogies because the desired end state is not always the same in war. One side may wish to gain more ground while the other is working to win hearts and minds of the population.
In business, we can blend our sport and military metaphors – in most cases the end state is to make more money by spending the least and ending up with the most excess capital. Not everyone does this the same way, however. Business owners who decide to compete differently than their peers are often success stories.
You’re driving at night in a blizzard – it’s pitch black on the dark highway, the only light comes from your headlights reflecting on the driving snow that looks like Star Wars ships in hyperdrive. How do you keep the car on the road?
You embrace ambiguity and make decisions based on incomplete information.
Since you can’t see lines on the road on account of the snow, you reckon if you keep it to the left of what looks like the shoulder and to the right of what looks like the beaten path of the other lane, you should be fine.
We're becoming pros at the trade show circuit. Like most industries, there's a predictable schedule of shows held all over the world in the toy and baby industries. Some are better than others but one can always learn something at an industry gathering, even if it's what not to do. Maybe you're a business-to-consumer business and are going to shows to find suppliers or gather industry insight, or you're a vendor looking to promote your product or service, whatever reason you're there, here are five tips to help you get the most bang for your hard-earned buck.
There's a way to sell things to people without making them feel dirty. The hard sell is the pushy, assertive sales tactic that we all know and hate. It has become a science - get under the potential buyer's skin enough times and they'll eventually give in. Small business owners get it all the time. It can lead to a sale and buyers' remorse, and forget about a second sale. There is another way..
You’ve decided to take the leap into wholesale, congratulations! If done well, wholesaling can take your product to the next level by exponentially increasing your accessibility to potential customers. If you’ve calculated your wholesale costs, distribution, and developed a catalogue and retail-friendly packaging, you’re well on your way. The next hurdle is getting your product on retail shelves. Here are five ways to get retailers’ attention and optimize your wholesale sales:
If you're an entrepreneur, you know your business is like your child. Handing your brand over to a third party to use is like dropping off your five-year-old on the first day of school.
It's painful when people misrepresent your image. Our stores recently participated in an effort by our town's business development organization where businesses were asked to donate something for a grand prize draw to take place at the town's annual festival. The lucky winner would get a gift certificate or package of goods or services from all of the participants and in return, the businesses were featured in the marketing for the event. This is what was on the poster...
I lost my luggage. You know the feeling; you’re patiently waiting at the luggage claim hoping that the next lap will bring your bag so you can be on your way. Yeah, my bag didn’t come. Long story short, I picked up fresh new threads and kicks along with some badass cufflinks on the insurance company’s dime.
People walk into our stores all the time trying to sell us something. They call, they email, they even text - how did they get my number??
What amazes me about the hard sell approach is that people still think it works. I can't imagine falling in love with your stupid home made dolls and placing an order after you've barged in to a store full of people, demanded to speak to the owner, and proceeded to ignore the increasingly less subtle cues that this is not a good time.