Tip Sheet: October 2004

Published

20 years ago

October 1, 2004

Instore presents ideas for better business

[componentheading]NAME TAGS ARE IMPORTANT[/componentheading]

It’s networking season. Which means it’s the perfect time to invest a few bucks in a custom-made name tag that will let prospects know — at a glance — what you do. Example: a bright red heart tag, that reads: “Bringing Love To Johnson County” (insert your town or county name here). People will actually cross the room to see what your tag says, giving you a great opportunity to introduce your business.

Source: Mary Gillen; Idea Site For Business

[componentheading]OWN UP TO MISTAKES[/componentheading]

Have you ever screwed up, big-time? As a storeowner, it’s time to step up and take responsiblity. One way to handle it is to do what Doug Bergum, founder and CEO of Great Plains Software, did. During one of his company’s annual conferences, he walked up on stage and discussed in great detail a mistake he had made. He then proceeded to smash three fresh eggs on his forehead.

Source: Bob Nelson; I,001 Ways To Energize Employees

[componentheading]DON’T FORGET THE EYES[/componentheading]

Keep in mind that a smile originates in two places — the mouth and the eyes. Give your customers a mouth-only version, and it looks like your smile was pasted on. It’s like saying “Cheese!” for a photographer. But your eyes are the true window to your soul. If you can’t muster a convincing smile, practice in front of a mirror until you get it right.

Source: Paul R. Timm, 50 Powerful Ideas You Can Use To Keep Your Customers

[componentheading]PRAISE, PUNISHMENT[/componentheading]

We all know that employees are more motivated by positive feedback than negative feedback. But we never knew before what was the proper ratio for parceling out praise and punishment. Turns out the optimum ratio is five positive comments to every negative one. But don’t overdo it: increasing the ratio to 13 positive comments to every negative one does more harm than good.

Source: Tom Rath and Donald Clifton, How Full Is Your Bucket?

[span class=note]This story is from the October 2004 edition of INSTORE[/span]

You Wouldn’t Cut Your Own Hair. Why Run Your Own Retirement Sale?

After being in business for over a quarter of a century, Wayne Reid, owner of Wayne Jewelers in Wayne, Pennsylvania, decided it was time for a little “me time.” He says, “I’ve reached a point in my life where it’s time to slow down, enjoy a lot of things outside of the jewelry industry. It just seemed to be the right time.” He chose Wilkerson to handle his retirement sale because of their reputation and results. With financial goals exceeded, Reid says he made the right choice selecting Wilkerson to handle the sale. “They made every effort to push our jewelry to the forefront of the showcases,” he says, lauding Wilkerson for their finesse and expertise. Would he recommend them to other jewelers who want to make room for new merchandise, expand their business or like him, decide to call it a day? Absolutely he says, equating trying to do this kind of sale with cutting your own hair. “The results are going to happen but not as well as if you have a professional like Wilkerson do the job for you.”