Advice for Small Business

The “7 Days of Genius,” was sponsored by MSNBC and New York’s 92nd Street Y: This was “a chance to celebrate inspiring thought leaders in many areas including small business. We’ve been fortunate to talk to some of the greatest entrepreneurial minds in the United States. Here’s some of their advice.”


 

Posted in Part 1: Overview/Planning, Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 3: Targeting Customers and Gathering Information, Part 5: Managing a Retail Business, Part 6: Merchandise Management and Pricing, Part 7: Communicating with the Customer, Part 8: Putting It All Together, Video Clips (non-career) | Tagged , , , , , , , , , , | 2 Comments

Delivering In-Store Delight

The in-store experience is often a key to the level of success for omnichannel retailers. Consider the advice from Katia Beauchamp, co-founder and co-CEO of Birchbox, a beauty and grooming multichannel retailer: 
“Having a storefront is an opportunity to interact face-to-face with your customers every day, which is incredibly valuable no matter what industry you’re in. At Birchbox, we’ve had a lot of success in the online space, and not long ago we expanded into our first brick-and-mortar location. The lessons we learned from creating a physical retail store have been invaluable to us, both in our online and E-commerce practices.” 
“It’s important to remember that the way your store is laid out and how your company presents itself can make a powerful impact on sales, and these design considerations shouldn’t be overlooked. Here are the ideas guiding our in-store philosophy, and how they can be applied to boost your business.” 
Your Store is Your Mirror — “There are two sides to a brand: the elements you’re able to articulate and see, and the intangible elements that customers simply know and feel when they interact with your brand.”
Populating the Place — “Just as important as the aesthetic of a space is the type of people you put in that space.” 
Getting Creative With Square Footage — “It may seem to go against the grain, but not every area of your storefront should be dedicated solely to selling. In fact, having some spaces focused on piquing your customers’ interest and delivering surprising moments can be tremendously valuable.”
Beating the Slump  — “Every company has its slow seasons, but there are ways to mitigate a slowdown and keep sales more consistent year-round.”

 

Click the image to read a lot more.

 

Posted in Part 1: Overview/Planning, Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 3: Targeting Customers and Gathering Information, Part 5: Managing a Retail Business, Part 6: Merchandise Management and Pricing, Part 7: Communicating with the Customer | Tagged , , , , , , , , , | Leave a comment

How Small Retailers Can Combat Fraud

Want to reduce your exposure to fraud? Take a look at this video from American Express.

 

 

Posted in Part 5: Managing a Retail Business, Part 6: Merchandise Management and Pricing, Privacy and Identity Theft Issues, Technology in Retailing, Video Clips (non-career) | Tagged , , , , , , , | 2 Comments