Store Within a Store

If you have 1000-2000 square feet or more, here's an idea to enhance a selling area. Creat a mini-store in one section of your space and sell different or related products. You might decide to move one group of products you're now selling to one specific area and put temporary walls or partitions around it.

This can generate attention for this product group and be a pleasant new theme of the products and make it different than the rest of the store. If you can use part of your front window as one of the walls, you will even attract passersby to stop and look. Any new selling ideas for your customers and browsers will keep them interested and coming back to see what's new.
More ideas for retail sales in chapter 11 of my book "90 Days to Success as a Small Business Owner" available everywhere.

Want or Need ?

One of these or both has to be present in your prospect's mind if a sale is going to be made. A need is probably more urgent because they will have to buy this from someone. Once they are off the phone, website or out of your store you might not get another chance.

Many times "wants" and "needs" go together and can be combined to entice a purchase. Dental care is a need but braces or special whitening may only be a want. Fishing can be a want but you need bait or a lure to be successful. We see examples everyday in our lives and and may be involved in some of them.

Entire businesses have been built by adding wants to needs. Look at lasik eye correction or contact lens; basic vision care is necessary but can be taken a step further. Food is a need but a $100.00 steak dinner with wine is a luxuty want. The same goes with expensive cars, boats and homes. How can you create more wants for your business to entice customers?
More in the monthly Idea-Letter (since 2002), free sample at www.idealetter.com

Want to Try an Infomercial?

Here's some things to consider when deciding if an infomercial will work for you.

*Your markup will need to be 400% to 500% to be profitable
*The product should appeal to the mass market
*You must be able to demonstrate the product easily.
*You must be ready to handle a possible flood of orders
*You must have the cost for the production and time up front
*Can you offer a satisfaction guarantee return policy?
*You must show satisfied customers using the product
*You must abide by all FTC & FCC rules and regulations
*Select a viewing time that gives your product it's best chance
*You will need a good presenter or personality
*Will you accept several different types of payments?

More on this subject and other advertising in chapter 4 of my new book "90 Days to Success as a Small Business Owner"

Reduce Prices ?

Most buyers and consumers expect prices to rise over time but when they go down they are pleasantly surprised. Here are some reasons why you may be able tp reduce some prices.

*Your supplier cost is less
*You get larger purchase discounts
*You have found a different supplier
*You're taking prompt pay supplier discounts
*Sales have increased enough to cover expenses
*You want to meet competitor's prices
*You want more market share
*You want a loss leader
*To move excessive inventory
*You have downsized your staff
*To increase sales before you sell business
*Technology forced prices lower
*To clear out aging products
*For an advertising campaign
*You now outsource to keep costs down
*You just want to be a nice person (WHAT!)
More on pricing strategies in chapter 9 of my new book "90 Days to Success as a Small Business Owner"

Easy Direct Mail Response

Not everyone wants to order the same way so be flexible. Some may want to come to a store and shop, some may want to browse your website first, some may want to mail their order in and some may want to call, fax or email. Make as many of these options available as you can for their convenience. The more comfortable they are in the beginning the better chance the order will go smoothly and repeat business will follow.

If you're selling outside your local area you must have a toll-free phone number. Customers expect it and some might not call if you don't have one. Toll-free numbers are much less expensive than they were just 10 years ago so it's wise to get one. Your local land line company should be able to offer very competitive rates, don't just assume everyone will use email. Make it easy and comfortable for your new and old customers to contact you and watch your business grow!
More in chapter 6 of my new book "90 Days to Success as a Small Business Owner" available everywhere.

Be Ready For Success

Your business may be going along at a hum-drum average pace with little or no growth, when all of a sudden something good happens. Will you be ready to take advantage of it or just let it pass by. Are you prepared and have a plan to handle a big surge in customer business? Just because it hasn't happened in the past is no excuse for not being ready. You may not get a second chance so grab the new opportunity while you can.

New stories can trigger a new need for your products and services that can have a big influence on demand. Consumer fads can also cause a big expolsion in your market where you may be a key supply. If you don't rise up and grab the attention you can bet that your competitors will. Always have a plan in mind or on paper so that when shows it's serendipidious face you will be ready and waiting.
More short articles in the monthly Idea-Letter (since 2002) free sample at www.idealetter.com

Stock Up Shelves

I always wonder, when I go into a store and the shelves are half empty, if they will be there next month. It looks like they are trying to reduce inventory before closing down for good or in advance of a sale. Look at it from a customer's perspective; do you want to but something and if there's a problem the place where you bought it is gone? Or maybe the owners just don't have the capital to fill the store with inventory. either way, it give a poor impression to people who want to shop there.

Keeping shelves stocked give the feeling that you are busy and expecting a lot of customers. Most people like to do business with a successful store or business. If you can't afford to pay for all the inventory you need ask suppliers to disply it on consignment. When item on your shelves get low pull them forward to give the impression of more behind them. When you run out of something, fill that space with another item until it's back in stock. Customers will be more comfortable shopping in a clean and well stocked store.
More short ideas in the monthly Idea-Letter (since 2002), free sample at www.idealetter.com