Oct
14

Advertisement Ideas: Getting High!!!

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Advertisement Ideas: Getting High!!!

If you want to get high in business you must commit to working hard and maximizing your message. If you want high revenue and high brand recognition  you must have a strategic plan that defines what type of business you are going to have, who your target audience is going to be, and how you are going to cultivate that target audience. In today’s business world the sole-proprietor is the underdog and thus has to work that much higher having a definitive vision for their business so as to get a percentage of the niche market that will create sustainability.  As you continue to open the doors to your sole proprietorship it is important that you are listening to those you have hired as some of those people may have ideas that increase sales and also increase brand recognition. It is important to check your EGO at the door and realize that you may not know everything and the day you think you know everything is the day you lose everything.  Make sure you know the demographics of the area you decide to do business in so that you can have the merchandise that they desire. Make sure you know the competition that is around you so that you can create your own unique selling proposition to attract and keep customers.

When I was a member of The Jaycees (Junior Chamber of Commerce) we had what we called a Chairman’s Planning Guide which was really a small business plan that served as a road map so you could have a successful project.It asked what the primary purpose of the project was, what the goals and objectives were, who was responsible for certain tasks, the budget, and the items needed to bring the project to fruition. It also asked questions as to things that could have been done differently and what changes you would make. Many people used the CPG to secure small business loans and continued to plan their work and work their plan making adjustments that they now have thriving businesses.  It is imperative to plan your work and work your plan.

If you are to really get high in business it is imperative to pick a lane especially today as more and more niche markets are being created. I was recently let go from my job at a sports store that should have been specializing in  sports apparel, accessories, and memorabilia.Instead the store owner would buy closeout of Marvel Socks and other non-sports related items and put them in the store not realizing that the customer wasn’t coming into the store for those and that regardless of the mark up everyday the non-sports items were on the shelves it was costing him money.  Each time I suggested we create a unique selling proposition I was met with excuses. I often asked the buyer if we could get certain items and this was met with resistance and excuses. As I turned in my key I realized that the issue was not me the issue was that the business owner and the buyer didn’t want to pick a lane.  In trying to carry non-sports items, toys, and other items they were leaving money on the table.

As I wrote in another entry if you truly want to be high up in business you must spend your money wisely. When making buying decisions you must look at many factors the cost of goods you are buying and the time it will take to move the items. Don’t spend $1200 on a Dolphins Pool Table and tell your staff oh we couldn’t get throw back jerseys because the mark up isn’t high enough. Don’t invest $2000 in plaques and then tell your staff oh we can get those items because they are reserved for the bigger box stores. Make sure you are making wise decisions when it comes to spending your money on merchandise. Remember it is only a bargain if it has a benefit to you.

 One of the biggest factors to getting high in business is to remember that promotion is a key factor to your success.  I have witnessed many tines a business order get merchandise into a store and not have  marketing plan to move the merchandise. I have also witnessed times when a business owner has advertised to a particular target demographic and not have the sizes that the customer is looking for thus loosing sales.  I always suggest that promotion coincides with merchandise for example if you have a signed jersey of a player that usually sells for $1000 and you know you can mark it down to $750 and make a profit feature it in an advertisement. Remember that promotion is geared to get the people into the store and once they are at the store then it is up to your staff to build the sale.

So many business owners forget to give credit and reward employees for a job well done. I recently worked for a store that had $12,000 in sales in a month my names was attached to $8,000 of those sales. When the owner asked me for my key I pointed this out and was told those sales would have been there anyway. I said I don’t think so as I handed in my key. Many times sales were made because I pointed out items and as a result the customer bought them.  Many of the sales made were made because people got to know me and like the fact that I was knowledgeable and helpful.  In many cases a business owner who fails to get out of his own way and give credit where it is due fails. If you truly want to get high in your business and build your business you must make sure that you are treating people with dignity and respect.

One of the things that really gets me excited and high is making a sale. When I was working in the sports store I visited the other location and I saw the Cleatus Robots and I took some back to the store where I worked and I began to show them to customers and as a result in one week I sold a few, My owner said they would have sold anyway. I thought yeah right who else would have sold them if I didn’t encourage them to show them. I also remember a night when a man came in for a Bills Jersey and we didn’t have one so I showed him a few Jim Kelly pieces and he bought the framed signed piece,  If you want to get high in business you must use selective selling and give the consumer a reason to spend their money with you.

 

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