Advertisement Ideas: Diversity Is A Necessity!!!
In a sports apparel, accessories, and memorabilia store diversity is a necessity. Many entrepreneurs of these type of stores get caught up in what they like that they do not diversify their offerings and as a result lose sales. The key is to see what is selling and to order accordingly. I saw a store where it appeared that FSU Seminoles items were outselling University of Miami Hurricanes items at a 2 to 1 ratio yet the entrepreneur of the store insisted on stocking up on Hurricanes items. This same store had only 3 hats for Notre Dame where Notre Dame is one of the top-selling schools in America. The key to having a successful sports apparel, accessories, and memorabilia store is to have a diverse selection of teams that the consumer is seeking with full size runs. If you have one item that is selling well make sure you are replenishing that item regularly so that when a customer comes looking for it you have it so you can make the sale.
Advertisement Ideas: Ways to Create Diversity!!!
One way to create diversity is to look at your Point of Sales Reports and see what are your top sellers and to stock items for those teams. Read More→
Advertisement Ideas: Time To Wake The F Up!!!
Do you know just how many times I wanted to scream this at entrepreneurs that I have worked with? I often have an experience where the entrepreneur thinks they know everything and refuses to listen to the employee that is working in the business on a regular business. The entrepreneur needs to wake the f up and understand that maybe they don’t know everything and that despite the fact that the employee doesn’t have a fancy car or live in an expensive home or doesn’t live lavishly they just might have a working knowledge to help the entrepreneur exceed their revenue goals. I was working with someone and asked what are your revenue goals. I was told none of your business. This entrepreneur ending up closing the business dissolving the corporation and then reopening in another location under a new name. He still hasn’t set up a website or done any advertising. he didn’t even update his Facebook Page. Then this entrepreneur wonders why his business struggles. The answer is because you don’t have a strategic plan to market and thus exceed your revenue goals. When I worked for Footlocker we had daily goals and the corporate marketing people had plans in place to drive people to the store and once they were in the store it was my job to make the sales. I remember how bad I wanted to tell the DM to wake the f up when he told me you can’t put the new Jordan release sneakers aside for people they are on a first come first serve basis. I called bullshit on that one and explained I have a customer who buys a size 8, a size, 11, and a size 13 in adults and a size 3 and 6 in kids plus matching socks and jerseys when the new Jordan’s are released which meant about $1000 in business. I asked the DM if you have a guaranteed sale of $1000 each time the Jordan’s are released why wouldn’t you put them aside. Well I left Footlocker and guess what I found out when I left and the store would put the Jordan’s aside for this customer he stopped doing business with the store. This is why those in power need to wake the f up. Look at the way you are doing business and ask yourself what can I do to wake the f up and make changes that will strengthen my brand and increase my revenue. Read More→
Advertisement Ideas: Action, Action, We Want Action!!!
If you are going to succeed in any business especially in the retail business you must commit to becoming an action taker. Over the years I have approached many new business owners as well as experienced business owners who are opening a new location to ask them about their strategic marketing and advertising plans as I have become quite astute at promoting local businesses. I am always surprised by the response of I haven’t set up a budget for that or I spent so much on the build out and opening that I don’t have money to advertise. My look on my face usually says it all when I hear this as it shows a wow you got to be kidding me look. In today’s day ad age I am bewildered by how many so-called business people lack the basic principles to build and grow a business. When I work with entrepreneurs I am brutally honest and I peel back the onion so as to see where we can overcome the blockages that are keeping them in the lack mode instead of the abundance mode. Most times I find it that it is their lack of organization and inability to take proper action as they have an attitude as I am the owner and I am doing my way and I know what I am doing. When in reality they have put up the money but had no realistic plan to market to attract and keep customers. I have witnessed many tines a business owner fly by the seat of their pants only to lose those pants. If you open a business and you do not have a daily, weekly, or monthly action plan you are destined to struggle. If you open a business and do not take input from your employees who have experience you will continue to struggle. The key is to be an action taker and understand that the day you think you know everything is the day you begin to lose everything.
Every action you take should be guided by the concept of positively affecting your business. The first action you need to take is getting to know who your customer base will be and then marketing to that customer base. The next action you need to take especially with a retail store is what you will be known for as a business.Previously I wrote about having a unique selling proposition and this concept is very important to the success of your business as you must ask what is it that I want to be known for when attracting new business and retaining old business. It is great to have a diverse product offering but make sure you are too diverse. Read More→
Advertisement Ideas: The View Only Changes For The Lead Dog!!!
Have you noticed that business is much like a dogsled as the scenery only changes for the lead dog? Think about it in business you have three choices you can lead, you can follow, or you can get out of the way. If you are truly going to be successful with your advertising campaigns and build your brand while increasing your revenue you must become the lead dog. How do you become the lead dog you may ask. The answer is simple by being ahead of the trends and setting your own trends, buy having unique selling propositions that attract your desired target audience, by being where your competitors aren’t. When you sit down to open your business in the morning you should have a way in place to drive sales and exceed revenue goals. You should know what is happening in the market place and find ways to attract people in the market to come and shop with you.
One of the biggest flaws that I have seen from entrepreneurs is that they do not lead they dictate and expect their employees to follow. This is not how you become the lead dog. The lead dog will work hard and show how the hard work pays off. The lead dog is given a plan and the trainer in this case the entrepreneur works the dog properly so as to utilize the skill set of the lead dog. One of the biggest mistakes I have witnessed from entrepreneurs that struggle is that they have a tendency to think they know everything forgetting that the day you think you know everything is the day you begin to lose everything. In many cases you may have an employee who knows what is selling and what is being demanded because they are in the store on a regular basis. A successful entrepreneur takes the input from the employee and begins to implement it thus become a lead dog in their respective industry. JC Penny once stated show me a janitor with vision and I will show you a VP of our company show me a VP with no vision and I will show you a janitor. The key to being a lead dog is to engage your employees, implement their concepts see if they work and the ones that work and the one that do not either scrap or find a way to improve them. Read More→
Advertisement Ideas: The Power Of Goodwill!!!
In business there is a very intangible component that is hard to measure called goodwill. It is a simple act of making your customer happy or serving the community. It is hard to measure as some goodwill is done without fan fare and you never know the power of goodwill until it someone mentions that they heard about what you did for a charity or how you went out of your way for a customer. The power of goodwill is amazing and can lead to increased brand awareness and revenue. In sacrificing a profit today by doing goodwill you will increase future profits.
The other day I had a customer come into Sinbad Sports located at 2164 S. University Drive in The Tower Shops next to Best Buy in Davie, FL and they asked about The Nike Vapor Knit Gloves as their son needed gloves to match his school uniform. I told them they are normally $100 but I could sell them to them for $75. They came back the next day and bought the gloves. The following day one of the players teammates came to the store and bought a pair. I gave him the same deal. Now word is getting around and I anticipate selling The Seahawks gloves out. In giving a little I was able to move a product that had been stagnant. It is in extended goodwill and extending excellent customer service that you drive sales. Remember people will forget what you said or did but they will remember how you made them feel. In extending goodwill to all you create customers who will share their positive experience and thus you will exceed your revenue goals.
Recently Sinbad Sports hosted Reshad Jones, Safety of The Miami Dolphins. As a result we had a few footballs to give away. One was presented to the winner of a contest we sponsored on WQAM and another was given to The Divas For The Cure of The American Cancer Society Relay For Life of Pembroke Pines to use in a fundraiser. As a result of this goodwill we received some publicity that drove people to come to the store to shop. In doing goodwill the word gets a round and people begin to support your business. Read More→
Advertisement Ideas: Spending Your Money Wisely!!!
On of the things I have noticed from entrepreneurs while working in The Sports Apparel and Memorabilia Industry is how ineffectively they tend to spend money. I have seen this happen in many businesses as the entrepreneur will buy items that he or she likes thinking they will sell and they do not leaving them with what I call dead merchandise. I witnessed one entrepreneur buy a Dolphins Pool Table and then tell employees he didn’t have funds for items that customers were requesting. I thought wow here you have a pool table that is going to be hard to sell when you could have bought items that were being sought after and turned then into cash flow quickly and turned a profit that would have been frequent and consistent. I witnessed one entrepreneur who refused to put up a website with his memorabilia and then stopped paying rent and as a result was forced to dissolve his business and settle with the landlord and then change names and relocate. This same owner still doesn’t have a website and guess what isn’t making the sales as he should be. I have always said the definition of insanity is doing the same thing over and over and expecting different results. Read More→
Advertisement Ideas: Do You DWYP?
Over the years I have taught about the concept of deliver on what you promise (DWYP), which is a key aspect to having a successful and thriving business. So many times over the years I have dealt with people who have forgotten this principle and a s a result have struggled in their businesses. The key factor is to know what you can do and then to deliver on what you promised. I recently had someone make a spelling mistake on a custom jersey that I ordered and told me they would send another one this was done in June. Several calls have been made and I have been told it is being sent and that they sent me a free jersey that was spelled right. They made the decision to send a free jersey with the one I ordered I didn’t ask for a free jersey. I still haven’t received the corrected jersey. What do you think happened when I wanted another jersey? I went to a business that has always delivered what they promised and guess what? My order was filled with the correct spelling and an excellent quality jersey. I tell this story to remind you of the importance of delivering what you promised. It is important to make sure that all your customers are happy and that you do the right thing.
Remember in life there is no try so when you make a commitment honor that commitment and if you can not honor the commitment then find a solution. So many ties people will try to cut corners and a s a result will find themselves without a way out thus making it impossible to deliver on what they promised. I recently had a situation where a business owner was hosting an event and one of the people who was supposed to come and sign autographs was a no-show leaving a customer without items signed. The business owner cashed the check and thought they would get the person to sign and then send the customer the signed items. This was in May and the person who was supposed to sign still haven’t signed the items. I suggested to the business owner that he simply write a refund check and send the items back and in the future wait for the event to be over and of someone doesn’t show simply repack the items with the payment or if the customer paid by credit or debit card simply do a refund. It is important to honor your commitments and if there are other parties involved don’t make promises. In another instance a business owner was given a custom framing order and misplaced the item to be framed and finally located the item and will be able to complete the order but it took 3 months and needless to say the customer is unhappy. When you do business with people you need to ask yourself am I delivering what I promised?
Advertisement Ideas: Finding Your USP!!!
In the many years that I have worked for entrepreneurs I have always asked before I started working with them is what do you want to be know for as a business? Many times they do not have an answer so I explain the importance of having a unique selling proposition? I take it further and ask who do you want to reach? Again many make it to broad that they get stuck trying to reach everyone when in reality if they created a niche market they would be more successful. Recently I had some tell me I want to reach all sports fans. I said this was to broad how about narrowing it down to I want to reach sports fans aged 14-54 who support local teams and who will spend on average $30. In doing this you narrow your audience and can stay ahead of the curve in your industry. As I have been involved in the retail apparel industry and have excelled I know what people are looking for and how important a unique selling proposition is. In 1988 when I went to work at The Oaktree Men;s Clothing Store I saw the unique selling proposition that they had as they sold a brand called Cosi Crest and were the only store where this brand was available. Cosi Crest was a brand that gave consumers an alternative to Zcavarici, which Oaktree also carried. In being the only store with a particular brand Oaktree was able to capitalize on the market. I went on to work for Merle Harmon’s Fan Fair a sports apparel and memorabilia store when baseball card collecting was having a major growth spurt and when team apparel was all the rage. Our unique selling proposition was that we could get any teams apparel in any league so when a customer came in for San Diego Padres Jackets at our Boca location and we didn’t have them in stock we could go to the catalog call the company give them our vendor number and place the order. of course we received payment up front. My most recent jobs have been with sports memorabilia companies with retail store fronts and the one thing I noticed with both companies is that they do not have a unique selling position. One company recently relocated and changed its name and began to market itself as the place to find vintage items and as a result by creating a unique selling proposition are moving forward in a positive direction. the other company is still finding its niche with a second location and once they have a unique selling proposition will do well.
The key to building your brand and increasing your revenue is to find a way to stand out among the crowd and be known for something that the consumer desires. If you capitalize on the current trends and look at what will trend in the future you can become very successful. I have learned that when you have what the consumer is looking for and you create a unique selling proposition you find success. There is an adage that you have read about in previous posts called strike when the iron is hot. Read More→
Advertisement Ideas: Running The Curve!!!
As in track and field in business winning or losing can be determined by how well you run the curve. In business you need to stay ahead of the field by aggressively running the curve knowing what the consumer desires. Having a plan to run the curve is tantamount to how successful your business will be. As you run the curve you must have an advertising and marketing plan so that when you emerge from the curve you are ahead of the pack and poised to be a leader in your industry. When running the curve look at what major events are happening that your target audience is following and design an ad campaign that will entice them to do business with you.
Many people who are your customers are focused on The Olympics right now, If you are to stay ahead of the curve you will want to tie in some type of Olympic theme into your advertising. If there is an Olympian from your area run an ad that congratulates them on making The Olympics and offer a discount in their honor. If you have a business where it would be conducive to watch TV you should set up a TV and play The Olympics and run a special while The Olympics are on. The promotional opportunities are endless as you can host your own type of Olympics with special events where you will engage your clients/customers. Read More→
Advertisement Ideas: More From The You Have To Be Kidding Me File!!!
As I watched my Facebook News Feed and saw all the comments about Donald Trump and Hillary Clinton I began to think are you f-ing kidding me out of all the people in The United States this is the best we can do. One promises to bring jobs back to American but manufactures most of his clothing line overseas and the other says oh I have the country’s best interest in mind when she leaked important secret documents. I am surprised by how many people have been bamboozled by these two but them again I shouldn’t be because The American Public has become like sheep and have allowed others to dictate their lives. If you or I did what these two have done we would be in jail. Then again it all comes down to the way things are and the way things should be being two different things. Ask yourself come election day what your alternatives are and don’t thing that voting for an alternative candidate is a throw away vote as it will be making a statement that you have had enough of this and will not take it any more. I have watched their ads and I think again you have to be kidding me as they are trying to disparage one another instead of showing viable solutions to the issues facing us today. Read More→