| “A Great Offer Beats A Great Price” - Claude |
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“A Great Offer Beats A Great Price” - Claude
My thought (Hereby known as “Claude’s Thought”) is that I want buyers to come in the store.
One thing I have learned is that your advertising can bring in eager, ready to buy, high profit buyers.
I’m guessing that my ads bring in less traffic (high quality traffic) than the “no-price” ads. But I don’t spend much time “selling””.
This is a personal preference. Last year our store grossed about $600,000 in sales...and I was only working in the store a couple of hours a day. The rest of the time was invested in writing, researching, creating manuals, etc.
If I decided to work full-time in our store (My wife, Cheryl & I are the only people on the floor) our business would go up a couple hundred thousand a year, but that isn’t my goal.
By the way, do you know why I opened my retail store?
I always wanted to give seminars & do training. I decided that I would rather talk to independent retailers than any other group.
But I hated listening to speakers who didn’t have any real experience behind them. They were “All hat and no cattle””. So I decided to open my own store to try out ideas that I studied.
I studied retailers (in my category and others) to find out what they did. I used my own store as a “Lab” to test new ideas, promotions, strategies.
Some of my ideas proved to be very profitable...and most were a complete waste of time. Eventually, I figured out what works & what doesn’t work. That’s a process that continues to this day.
That’s about 8 years of my life testing ideas...before I thought I could speak with authority. I’m not complaining. The last several years have proven profitable and have created the beginnings of real wealth. Well, I guess more than the beginnings.
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