Retail Strategies

Also, think about trips to Europe and how lovely the retailers, large and small, enclose the packaging for even simple purchases.

Excellent idea for a small retailer to connect in a very positive way to their target customer. Selecting the appropriate group to "pardner" with is a key component.

Now if they could just provide more sales assistance on their floors...

Prof Quelch should add public relations services as well as advertising in his "marketing spending" recommendations. P R is less expensive and often more effective than advertising, esp in tight economic times.

So this fact is a constant in retail, with very few exceptions. How may we change the mind set of the operators who could care less and then bemoan the lack or drop in sales?

Hi, Carol, Great post. It's true that Petco and Golfsmith have seen a drop in product returns, and of course their customers have a better shopping experience by getting to hear the opinions of other customers. What is also interesting to note is that some of our customers - Petco and Golfsmith are both Bazaarvoice clients - are also taking note of lower-rated products and using this input to improve products or work with vendors to be more efficient in determining what to sell online. Tons of data on the power of reviews at www.bazaarvoice.com/casestudies.

Free food is always a winner . Anything to make shopping a little lighter and more pleasant is a great idea compared to the rude people , long lines, small print , and long waits for phone operators that accompany most sales experiences ...

weak article ...

Your blog brings tidings of great joy to retailers, as it means there's still hope for more shoppers over the next five days. But your blog is good news, too, for all of us wives out here who might be getting a wee bit cranky about the division of labor around the holidays. Now we know we're not alone! It's a national trend! Thanks for the humor...

Like baking a cake, a positive customer service experience contains many ingredients. I believe it starts with a warm welcome, that all important first impression when a customer first meets the business owner or employee. If the welcome isn't warm, there's much less liklihood that the customer will ever see the dressing room or the bathroom. Regards, Glenn ...

I have been an Avon representative since June, and none of what you say about this company is accurate. Yes, Avon is an MLM. When I started my Avon business I was not told or asked to purchase any product for inventory. My first Avon order was for $173, a combination of what I sold and what I purchased that I would need for my business, like samples, demos, and I got a couple items that I wanted. I mean, at a 50% discount, I'd be crazy not to shop with them. That was four months ago. My orders have steadily increased, I sold over $1,200 in my last campaign, and 95% of that was customer orders. Yes, Avon encourages recruiting. I've just entered into Leadership myself, and I am mentoring my very first unit member. So far, she's paid $10 for her kit, just like I did. Avon products are not overpriced, and the quality is great; I have too many returning customers who dispute those claims to let that one just sit there on the table and not respond to it. Avon has some of the best products on the market at very good prices, and I'm not just saying it because I'm selling it. Before I sold, I was a loyal customer, and I had no complaints about my purchases. Beside, Avon has a return policy that is liberal. What makes our company great is great customer service (ding dong, Avon calling), AND great products. I can't speak for Mary Kay and Amway, but when you put Avon in the same category with them, you got the wrong girl. Avon does empower women, that's what recruiting is all about, sharing the opportunity to reach goals and see dreams come true. In fact, I'd love to share more with you about the Avon opportunity, email me at ladyjanebiz@yahoo.com ...

Sadly, Avon is a multi-level marketing scheme like Amway, Mary Kay and many others. Multi-level marketing companies (MLMs) are essentially product-based pyramid schemes, in which the product is the "hook," but recruiting of new reps is the real business. Unfortunately, the vast majority of participants in MLMs (some estimate as high as 99%) actually lose money. While it would seem easy to make money (just sell the products!), the fact is that most of the times the products are overpriced for their quality, cities are overrun with reps all pushing the same junk, and the actual selling price of the product leaves little profit margin. Why do you think all of these companies tell you that the real money is in recruiting? That's right. Recruit a new mark, get her to invest as much as possible in inventory that she most likely will not be able to sell, and you've made your commission off of her. Companies like Avon and Mary Kay have been flying under the radar for years. The general public views them as "helping women," when all they are doing is helping themselves to billions of dollars that belong in the savings accounts of their families... NOT in overpriced junk inventory that collects dust in the basement. Here's my contribution to getting the word out: www.pinktruth.com.

Carol, your point about apparel being widely available online is a good one. You can't go to Penny's or Macy's and always find what you want in a particular size. Another factor in this rise is that apparel is generally light-weight and easy to ship. Also the electronics market is in somewhat of a slump if not a decline. Great post!

I feel for your loss and clearly what was done is reprehensible on all levels. However, I can't help to recognize the persistent reference to this Cherokee county criminal as a "Christian" all the while she had you fooled posing as an "honest employee" so would you say she gives honest employees another black mark or would you say by her actions she?s not an honest employee? I would suggest she never has been nor likely to currently be a Christian or for that matter even a good person. ?Works are meaningless on the way to salvation and necessary as the resulting proof of the genuineness of your conversion. Paul said works are absolutely worthless in any way to commend oneself to God in order to be saved. James comes along and says, but if you?ve truly been saved by Faith alone your faith will be evidenced by what you do. They?re not in contradiction at all. They?re in perfect agreement. The only issue is on which side of Salvation does works belong.? Dr. David Jeremiah Verbal faith alone cannot serve and cannot serve ? like salt without flavor.

I'm curious as to why people steal or feel entitled to do so (as employees)? Do you think that if employees were given more ownership within their positions that this wouldn't be the case as much? I think that small business owners, don't trust their employees enough and because of that it helps foster this community of distrust. What do you think? Personally, I believe if I felt I were being policed within my job -- I'm not sure how I'd behave. I thrive in communities where there's trust and responsibilities. I'd love to get your feed back. Best regards, -Tracy ...

Have I got a story for you! (public record#06-CR-0850, Cherokee County, GA) A woman was hired in 2002 as an office manager. Within two months, she had contacted American Express and was able to convince them that she was 49% owner of the business and they gave her a corporate American Express credit card without any authorization by the company president. She used that card to charge over $165,000 in personal purchases. Because she had access to the company books, all of her personal charges were paid for through the company checkbook. But she didn't stop there. She doubled up on her paycheck which was already very generous. She wrote company checks for personal purchases and services. She had her deck redone; had her house repainted; purchased furniture and groceries using company funds. She and her husband purchased automobiles exactly like her boss and his wife's cars. She created false W-2s for herself and her husband using the company computer when they sought to purchase a $500,000 home. After they were caught, she sought to 'negotiate' her way out of it by begging us not to turn her into the authorities. When we didn't agree, she went on the attack by bringing false charges to the district attorney, claiming all the while what a good Christian woman she was. When that didn't work, she sought delays and changed attorneys again and again. She became pregant in time for her arraigment before the Grand Jury, and became pregnant again in time fore her sentencing. Even though the judge gave her (only) 10 yrs PROBATION, she never apologized for her illegal actions, only how humiliated she was as a result. She stole well over $300,000, but was only required to pay $50,000 in restitution. She gives Christianity yet another black mark.

Great story, Carol. Just goes to show that anyone can implement legendary customer service. You made my Friday Night Links: http://www.allbusiness.com/sales/customer-service/4353358-1.html ...

This is why it is important to align customer service goals from the top all the way to the bottom. It is easy in a small company. But what do you do in a big company to emphasize customer service to people who are rarely exposed to customers, even though that singular exposure might make a big impression?

The tactics of reaching customers in these new ways is especially significant at this juncture because they're so many new ways to do it -- but also because the television isn't as effective as it used to be. We've gotten to a point where consumers holding the remote won't even watch television ads - either because they'll change the channel or use the feature of their TiVo setup. All retailers, and anyone else with a motive to sell, must hone their skills in the new media. No worries however, because when our customer base blocks these selling tactics, they'll be a whole other set of media to change our ways.

Kudos to the new guy. Diversification sunk retailers like Zales and K-Mart who strayed from their core businesses. On the other hand, look at Wal-Mart who remains focused on its core business.

Macy's is hurting from the exodus of former-Fields customers. Many left because Macy's eliminated the world famous Field's nameplate -and its reputation for style, quality and service. Thousands more tried Macy's but did not like was they saw. The word on the street is to shop anywhere but Macy's. Macy's trully is the "New Coke" of the retailing world. I tried Macy's. Other stores just do it better. My experience was lack of merchandise, poor quality clothing and no sales help. Macy's claims to have "service that will astound you." They don't. Just try to find a sales associate! They claim nothing would change but the name. Everything did. They said no one would lose their jobs. Hundreds around the country did. The word from Macy's CEO is that people are just being emotional. Well, what does he think shopping is? It meant a little extra something to get a gift from Field's. Then Mr. CEO said we all needed to be "re-educated" to the Macy way. HUH? Then he said we are "confused" by new merchandise and promotion calendar. HUH? Macy's continues to provide excuses ("too cold to shop", "snow", "early Easter")that kept people from shopping. Hmmm. Nordstrom, Saks, Von Maur...even Kohl's and JC Penney all showed double digit sales increases for the same time period. Carson's is doing amazing business in the Chicagoland area and is talking expansion (thank you Bon Ton for have the business smarts to recognize the value of the Caron, Pirie, Scott namplate and reputation. How obvious that people are going anywhere but Macy's. The Macy stores on State Street, Vernon Hills, Lake Forest and Northbrook care ghost towns. Trouble is, this bad business move is affecting all kinds of businesses. Macy's does not pull people in like Field's did so traffic flow at malls is lower. Sales at Macy's are certainly lower (inside reports range from 20% to 50% down) so tax revenue is lost. People are not traveling to Chicago to shop at the great Field's on state street. More revenue lost. I could go on and on. Now Macy's is sending out a barrage of $10 gift cards and 20% off coupons (be sure to read the fine print - the discount only applies to Macy's house brands) to lure people back. They even have store managers calling people! Still not working.

An attention getting headline! I hope his optimism is contagious and accurate.

Excellent post Carol. In my days in management connected to retail, it was always one of the biggest problems of display. To try to get those in upper management to see this was extremely difficult. I think that it's truly one of the more important aspects of retail business in general, and upscale specifically.

I personally prefer to stay more time in those types of shops which have soothing color but beautiful atmosphere than gorgeous noisy one. Exciting atmosphere can attract more customers whereas dull atmosphere might drive away kids. In shopping mall people prefer bright colors but in grocery people prefer light colors.

FYI: The Commerce Bank in University City, Missouri, used to use the auditory art of Howard Jones to greet its customers with an amplification of THEIR OWN HEARTBEATS as they entered the foyer of the bank! Cool, huh?

Carol, I especially like the idea during this time of the year when things are going slower. There is a lot of opportunity to offer various sales and combinations to e-mail lists that can be a big splash with out customers and a great inventory aid as well.

There is quite a bit of competition online when it comes to having a business, but I think what will definitely set one apart from the others is the customer service that is offered. Customers who love doing business with you can sometimes spread the word faster than your own marketing efforts!

Some of my experiment data proves that if we can privde rich product information, and better interaction experience, we may reduce their focus on lower price. smartercustomer.blogspot.com ...

Sometimes your 'product' is too unique...commissions are few...prices are high due to production costs and perceived value. Will people beat a path to your sculpture studio? www.williamrockysapp.com ...

Dear Sir/Madam, Would you like to work online from home and get paid weekly? STAYLOR INV ( Fabrics& textiles) needs a book-keeper in USA, so we need someone to work for the company as a representative/book keeper in the states. the company produces various clothing materials, batiks, assorted Fabrics and traditional costume which we have clients we supply to weekly in the states. Our Buyers (Customers) make payments for our supplies every week in Form of Money Orders or cashiers checks which are not easily cashable outside the United States, so we need someone in the States to work as our representative and assist us in processing the payments from our clients and we will pay him weekly salary. ALL YOU NEED TO DO IS RECEIVE THIS PAYMENTS FROM OUR CLIENTS IN THE STATES INFORM MONEY ORDERS OR CHECKS. GET IT CASHED IN YOUR BANK THEN DEDUCT YOUR WEEKLY PAYMENT AND FORWARD THE BALANCE TO THE COMPANY DOWN HERE VIA WESTERN UNION MONEY TRANSFER OR MONEYGRAM. Our payments will be issued out in your full name and you can get Them cashed in your bank as these is the only place my company can be safe as to let you cash the money orders or checks. you will then need to deduct your weekly salary and forward the balance to the company via moneygram money transfer, SO ALL I NEED IS TO FORWARD YOUR INFORMATIONS TO OUR CLIENTS IN THE STATES AND THEY ISSUE PAYMENTS IN FORM OF MONEY ORDERS OR CASHIERS CHECK THEN SEND IT TO YOU VIA MAIL OR COURIER. I will need your Full name, Residential Address and Phone Number so we can forward it to our clients and they will start making payments to you as the company's Representative in the states. I WILL EMAIL YOU A LETTER OF EMPLOYMENT FROM OUR COMPANY WHICH YOU HAVE TO REPLY WITH AN ACCEPTANCE LETTER AND A SCANNED COPY OF YOUR IDENTIFICATION ATTACHED TO IT. Steve Briggs. I AWAIT YOUR URGENT RESPONSE. Our contact details are: 38 ladywell Road London, SE13 7UZ United Kingdom. Email:employer_staylorinvt@outgun.com Head, Human Resources Department, (STAYLOR INVESTMENTS) ...

I am a young entrepreneur originally from Maine and can certainly to relate to the campaign. Do not be surprised as you see more of these grassroots campaigns pop up in blue collar town across Maine and the rest of New England.

I am a young entrepreneur originally from Maine and can certainly to relate to the campaign. Do not be surprised as you see more of these grassroots campaigns pop up in blue collar town across Maine and the rest of New England.

Petula Clark and "Downtown"?????? UGH! How about "Uptown Girls"!

Petula Clark and "Downtown"?????? UGH! How about "Uptown Girls"!

Experience, experience, experience! Small retailers can beat the Giants by providing superior customer experience. Give them a memorable "individualized" experience and they shall return. Not only that, if that experience is extraordinary enough they will be your free PR agents, and they will tell their friends. As Tom Peters say: Give them a WOW.

Being a marketing person and a consumer who has experienced bad customer service, I have some revolutionary thoughts. (ha, ha!) It's simple. Retailers can beat the "big guy" by having their employees greet customers with a smile to make them feel as though they are welcome. It's that simple. Next, small retailers should provide customer attention, ability to count back change, and most important: "Thank you for shopping and come again." Ace Hardware and Earl May are terrible @ this and eventually will be eaten up by large retailers such as The Home Depot, which already does what I wrote above, well.

Kevin's comments above are right on. But beyond saying please and thank you, it really helps to know what your customer is up to. Easier when they come to you and ask for something then when you're doing outbound marketing - making calls - trying to cross sell, etc. Adding analytics to CRM as suggested here is a brilliant next step. But its not easy. Because customer behavior information (the key to predictivity) tends to be in accounting files on one side of the house - while CRM is over on the BI or the sales side of the house. And the line between those two databases seems inviolate. But somebody's going to get it. At least that what we are advocating at Loyalty Builders - we're predictive analytics folks.

funny ringtones ...

ringtones free ...

funny ringtones ...

Who wouldn't want to take over Meg Ryan. Even the deeply religious Waltons would eagerly cross that line.

This is very interesting site ...

This presents some nice facts that most people overlook about holidays: that they are more than just celebrations of events or people, but opportunities for business and commerce. This idea makes apparent, however, the incessant tendency of people to treat the holidays as mere means to an end - forgetting the true value of these days as remembrances to country changing events.

Eat BBQ and drink beer. God Bless America!

Well, Carol, business is still kind of like politics except consumers vote directly with their pocket books. You are right! It ain't smart.

My remarks have been previewed.

My remarks have been previewed.

All is fine.

Middle eastern countries have a prosperous economy and it is attracting investors, travellors, professionals and many other kinds of people from different parts of the world. It is the ideal place for making big size shopping malls.

I have created a blog which provide the information on loose diamonds. visit http://buy-diamonds.bloghi.com for more information on diamonds. A great source to find wholesale loose diamonds on the web.

The conservatives I know who want the Mexicans to go back to Mexico have never washed their own car or cut their own grass. It makes me wonder what they are thinking. Are they going to start doing it themselves?

Mr. Rich was driven not by how much money he could make but how good a business he could run with this name on it. He made good money anyway. Corporations are driven by short term gains which are driven in part by the demands of the stock market (investors). You might find an entrepreneur in a small town driven by the same motivations and long term vision as Mr. Rich.....as long as Walmart has moved next door. So you might conclude that business is driven by: (1) Investors who demand a fast return on investment and (2) a high percentage of consumers who forego their reliable local merchant to save a few cents at Walmart. How does the business owner overcome that?

Carol, How I enjoyed your blog today! I used to live in the Atlanta area, loved reading Celestine Sibley's columns and thoroughly enjoyed shopping at Rich's. I had never heard Celestine's story about Rich's. It brought a smile to my face just thinking about the "old fashioned service" we used to receive. Hopefully, it will encourage other retailers to pause and give thought to Rich's philosophy. Keep up the good work with your blogs. I never miss reading them! Phyllis Lewis ...

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good info for SM.

Yes, for businessmen of western countries it is very very true. If you are not on the net then you are not on the business. Website hosting is very cheap and if any body wants to build their own websites then many websites offer built in templates all you have to do is put in the content.

Hi! http://www.insurance-top.com/company/ auto site insurance. auto site insurance, car site insurance, The autos insurance company. from website .

Hi! http://www.insurance-top.com/company/ auto site insurance. auto site insurance, car site insurance, The autos insurance company. from website .

This seems to work great. Also,makes the time go faster in the check out line!

This seems to work great. Also,makes the time go faster in the check out line!

I agree, the percentage hits our family buying habits.

Good ideas!

Your suggestion are somewhat basic but good and you are right about small business not taking advantage of the growing online market space, but to quote Forrester is a big mistake. They have over inflated their estimates since they began back in the dot com era. They admittedly have a skewed and flawed sampling in gathering statistical numbers in these issues. Ask all the people who lost money, jobs or both during the dot com about statistical reliability. Quote them as an example, but don't go to the bank with them. Yes, the market will grow, but not at near the quoted rate that Forrester has hyped up. Even if it is only a 5% growth margin, that's a huge increase. The growth will probably be closer to 3% however. Statistics for those who read this are very misleading and usually have large built in biases as is the case here. The main reason, from my experience as a small business consultant, for businesses not being involved is because they lack credible resources that can be trusted. Resources such as reliable tutoring for small business internet marketing (in everyday people language) that are complete and instinctive, or email/newsletter software that simplifies the process or knowledge basis and articles written for every day business people are extremely hard to find. Simple and trustworthy resources for the lay person should be easy to use and easy to implement with little or no computer knowledge. They exist. There just aren?t very many. www.smallbusinessinternetmarketingcenter.com ...

Why isn't www.williamrockysapp.com/ listed? I'll bet there is a charge...and since I only have one customer at this time, a charge would be silly, no?

Missouri needs Bealls!

Hi Carol, I found your blog entry to be very interesting as both an independent retailer as well as a Search Engine and Resource website webmaster at IndieRetailer.com. "The merchant attributes that endear mom-and-pop stores to local consumers can be reduced down to four main ?order winners,? according to Vanderbilt, and these are: expertise, product specificity, reputation and convenience." I think Vanderbilt forgot one crucial element, "Communication." I believe your reputation is built upon all of the others, but what we've found, as independent "mom & pop" click and mortar retailers is that our customers appreciate personal calls or emails when something is out of stock or will be delayed. This is something the typical 'big box' does not dedicate resources to. Which is a shame for them, because they're most able to afford it. I agree with some of the other suggestions in your post and it seems we have parralel philosophies. Our IndieRetailer.com site is fairly young, yet we are constantly working on adding new content and features to give the mom & pops a place to go for resources and guidance. I'll look forward to your next post and perhaps you can take a look at our site and generate some discussion. Please feel free to email me with any questions. Best Regards, Jennifer IndieRetailer.com ...

hello! http://www.dirare.com/Sweden/ online directory. SMART Yellow Pages, About DIRare, Search in Business Category. From online directory .

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How can I get a hold of Brenda Gilpatrick?

The idea of using your retirement to finace your new business is great, but be carefull. This one success story, but for every success there are many6 failures. This is a viable alternative, but do you really want to gamble with your retirement on something that is unsure and certainly can't be guarenteed. If yes, then check it out. If no, hold back and get additional advice from professionals like an independent accountant who can add a little wisdom to the emotional roller coaster.

Stores like the "Many Horses Trading Co." dot the roads and highways of Arizona, New Mexico, and Utah. They are an embedded part of the beauty and traditions of both the new and old Southwest culture. Although little was said about it the mention of reference to her accountant was important in the aspect of a small business. Small businesses are always on the edge as far as resources go and the dependence on outside professionals is important. The "Many Horses Trading Company" could easily and wisely augment her business through developing an online extension of her business. This would certainly balance out the slow off season that is so dependant on tourist. High gas prices may further damage the cash flow by slowing down the amount of tourist that come by her store. Building an online business presence should be a primary consideration for all small businesses as way to offset the seasonal ups and downs of the market place as well as economic downturns for what ever reason. Here, like her accountant it is very important to depend on knowledgeable professionals. Web developers aren't necessary knowledgeable in business concepts and applications in fact studies show usually the opposite. So choose wisely. The best way to understand the ins and outs of online businesses are to take a course based on the success of those who have already found success and know just how to guide you for the best results. This will help you ramp up quickly and hurry in the cash flow and this is primary to you and your business success. www.smallbusinessinternetmarketingcenter.com ...

I just read theblog of our Many Horses business and it looks great. It was so nice talking with you and I hope you are enjoying your turtle bracelet.Thanks so much for the great blog. I must admit that before reading this page,I really didn't know what a blog was. Ann ...

When I was in the retail jewelry business in the early 80's my store made 26% of its profit in December. 13% in May. It wasn't just Mothers Day, it was also graduation, and I suspect tax refund time. Valentine's Day wasn't that big for us because we had only completed inventory two weeks before and weren't restocked. I suspect merchants have now learned to be a little more agile when it comes to inventory and are better able to restock for Valentines Day.

I appreciate the responce, however ivesting in ones self historically has proven to be a disaster for most. Like suggested above in my first comments this is an option for only a handful of people that most should certainly walk away from. There are many other safer ways to develop your retirement than to gamble with what you have. If you do everything right in your bisuness planning and your business development the best chance of success is about 50%. Most people are at about 20% chance of succeeding in their sought after venture. Millions of successful businesses started every year is a very misleading number and stands on the edge misrepresentation. If a million business start in the US this year roughly 20,000 will be in existance in 4 years. The idea of a million businesses started each year has nothing to do with the ones that people fail at win loosing their retirement funds. And, you are just a small fraction of that million I would say less than 1%. Now I'm not saying you do poor work by any means. In fact you probably do excellent work, but the percentage of successes of over all businesses started is very small. If you are interested in Mr. Fosters program check it out, but before you put your retirement on the line you may want to check out the probabilities with an independent account or business adviser.

I certainly agree with Mr. Whelan - a new business endeavor is not to be taken lightly. We always advise clients to consult their accountants before making any decisions and to carefully evaluate the viability of their business idea or franchise. It?s a part of the BeneTrends process as much as the legal paperwork is. Our economy?s future depends on entrepreneurs and small businesses, so we take great care to recommend the BeneTrends plan only to serious entrepreneurs. This method is not the only option for everyone, but it?s a strong one for many entrepreneurs for a number of reasons: ?One of the top challenges is lack of working capital in the early stages. Using retirement savings vs. getting a bank loan enables you to put that money into running the business in those critical first months. There?s no added burden of a monthly loan payment, so there?s more available cash until your business is profitable - something we all know doesn?t happen the day you open the doors. ?Consider that defaulting on a bank loan can be even more damaging than depleting savings. Not only has your business failed, but you could also lose the assets you used as collateral for your loan ? not to mention the damage to your credit. ?People spend months, years, even decades on their business plans, yet the average person spends only hours on their retirement plans. Starting a smart business enables you to make the most of your retirement funds by investing them in yourself rather than just a fluctuating stock market. Research indicates that of the people who actually save for retirement, the average invested is only 6.8 percent of their pre-tax salaries ? this approach allows individuals to set aside more money for retirement that ever before. ?Your ROI in a business can be much greater than the retirement plans offered by most organizations, giving you more control over your retirement. Plus, setting up a dedicated retirement plan for your new business is part of the BeneTrends plan. Starting a business is a major decision, regardless of how you decide to finance ? and we make it our responsibility to help our clients understand that. We?re advocates for the entrepreneurial spirit, and it?s our mission to help our clients stand among the millions of successful businesses started each year.

This is really serious stuff and for a lot of people a real wind fall. However you should be putting up CAUTION signs all over the place because over 80% of the people that jump into this will loose their retirement all together and have nothing to retire on. This because chasing rainbows usually catches lead pots and when most people jump into a scheme they are usually chasing rainbows and without a whole lot of realistic planning or insight as to where they are going with their business or how to get there. Fischer himself said it "IF they stay with it" and that is a very big if and gamble. As a consultant an a accountant I am constantly trying to help pull people out of the hell hole they fell into when they take this step. I primarily consult in customer service development, but in close to 30% of the businesses I work with I end up doing it all. My advice is unless you have an extremely well laid out business plan with all the analytics in place don?t do it. I mean market analysis, competitive analysis, customer analysis, SWAT, growth and financial analysis (prepared by an independent accountant not a partner), labor analysis, production analysis, cost analysis, strategic goals as well as short term goals, etc. Is all the above necessary? Yes, if you want a chance at surviving. Even if it is a hole a wall mom & pop store all these things need to be considered. If you aren?t willing to plan for success, don?t start, and unless you are willing to write off the investment don?t start, which means if it?s your retirement this should be the very last direction anyone should go and only with the deepest and well planned considerations. .

Carol, welcome to the AllBusiness Blogspace. As a web-based, home-based retailer, I will be sure to read this blog on a regular basis!