Common Mistakes

While shopping in Hobby Lobby my daughter and I noticed these glasses that make lights into Christmas shapes. These glasses are made of paper and look like the old 3-D glasses from years ago. We found the glasses on the end of an isle and on the display there are 4 little lights to look at after you put the glasses on. Well my daughter tried the glasses and did not really get the effect of what the glasses are intended for. She then takes the glasses to the Christmas trees and puts them on and she then seen what the glasses could do, one pair made you see Santa faces on every bulb, one made you see mini trees, and the other one made you see ice cycles. The difference was amazing, if the glasses were placed next to the trees sales would increase. So every time we go into Hobby Lobby we grab the glasses and look at the trees in hopes that a manager or store worker will see us and realize that they are in a bad location.    

Chicago's First Snow

This weekend Chicago had its first snow, I was there to experience it and it was an experience. It's not the first time I seen it snow like that, but it is the first time I actaully new people that were leaving to go to Florida. I have been talking about opening a business in the Florida keys and the snow is one of the reasons why; snowbirds. Many people go to the beach for vacation in the summer and spring, but it's the snowbirds that make the area businesses continue year round, without a technical off peak time.

Public Relations

Incentives drive most people to the purchase that they make. The incentive could be in points, free items after so many purchases/visits, coupons, and miles. The more a business makes the consumer feel like they receive more in return, then most likely the business will win over that consumer. Just like credit cards, people tend to use the credit card that gives them the most benefits. Now with that said, some companies will not take certain credit cards due to the higher fee the business has to pay for accepting that card. I personally have stopped shopping at places due to the fact that I was asked to use a different card due to the fees the business occurs when accepting that particular card. I was shocked when I was asked that, especially since the business accepted that type of card.

E-Marketing

Get your business out there! Social media is the quickest way to get your business out there for customers to get to know your business. You want to make a good impression because social media can work in you advantage or it could be your biggest disadvantage. One bad review can be the start of  the decline of your business. Customer satisfaction is the number one priority. Your customers should love your business, that way even if your customers had a bad experience they might post it but I am sure they would state that the customer service was great and they would use your service again. Know your target market, their needs, wants, and most of all what makes them want to come back for more.

Inventory Management

Regardless of what type of business one is looking into there will always be some form of inventory. Inventory management will be very crucial to your business, a handheld inventory scanner is one method of real time inventory or if you are dealing with smaller items the vending machine method is also a real time inventory tracking system. If you let your inventory get out of control your business will suffer, not only will the products that are needed not be available, but an excessive inventory of unneeded inventory could grow and cost the business unnecessary money. Improper inventory control can shut down your business just as quick if not quicker than being a bad businessperson. Did you know office supplies are the number one items for theft, not that it is always done on purpose but how many time have you put a pen or pencil in your back pocket and did not think twice about it. Knowing all of your inventory can save you a lot of money in the end, maybe even save your business.   

Location

Location Location Location, can make your business or break your business. The location depends on what type of business/industry you are looking to pursue. When looking into a major manufacturing facility you want to be as close to a major interstate as possible. While I was driving to the beach I noticed this town that looked nice, but it looked like every building was closed down. That's when I noticed that the area was too far from a major interstate. The cost from the location inconvenience could have shut the companies down, I am not really sure but it made sense. If you are on vacation you don't want to drive an hour away for activities. Sometimes people see a cheaper price without see the added expense of the location or inconvenience.     

New Business Pricing

When HESS in Good Hope opened the doors they had the best deal in town when it came to fountain drinks. They advertised any size soft drink or slushy for $.69. This price lasted approximately two months and when it was over the customers found out as they paid at the register. I do not know how much local business was lost due to this, but I personally know locals that stopped shopping there. It was the way HESS employees went about the price change, they did not put the regular price at the drink stations to catch your eye so you would be aware of the change. When the cashiers were asked about the bill total they replied "Do you see a sale price on the front door?"  I have talked to other people in the community and they also had a similar experience with the sale price change. I believe if HESS employees would have made the change visible customers would not of minded the price increase.