| |
- Inventory
- Cash
- Margins
- Theft
Boot out waste . . . set controls
Bob Cobbledick, marketing specialist, advises businesses to create controls. The more controls you put in place, the better you can track and manage your business. Common on-farm marketing controls include: inventory, cash, costs, margins, customer and employee theft, entry and exit, inside traffic flow and lighting.
Bob tells the story of an on-farm marketer who put a greeter in place at the exit of their market. The greeter asked a customer who was leaving with a wagon full of pumpkins for his receipt. The man got very perturbed saying that he’d been coming to that market for years and he’d never paid for a pumpkin! How many other customers were there like this one? How much product do you have ‘walking’ out the door? An Ontario Pick Your Own (PYO) survey reported that 40% of PYO’s found customers stealing. The average value of product stolen was $29.
Controls put in place to direct customer traffic flow and locations of registers go a long way to reducing customer theft. Have only one exit and locate it by the cash register. Place smaller items where they are easily seen by staff. Teach staff about quick change artists. Greet customers when they arrive. Customers are less likely to steal if they think staff are aware of them. Improve staff visibility.
For more information on controls email kerry.engel@gov.ab.ca and ask to subscribe to Explore Direct E-News. Bob Cobbledick will be writing a series of control articles for E-news in the new year.
Collaborate
During its start up years, Totally Tropical Interiors solved a potential business breaker by establishing a mutually beneficial alliance. The company needed space to store its completed arrangements prior to delivery but couldn’t afford to invest in a larger facility. They negotiated a deal with UPS to store a container on site. They loaded silk plants and floral arrangements in the container as they were completed. When the container was full, UPS took over the delivery function. By solving Totally Tropical Interior’s inventory needs and meeting UPS’ distribution goals, it was a win/win solution.
“Sometimes less is more, and sometimes more can be the enemy”
Charles Hagood.
“So many ideas, not enough time” can kill your company. Pick good ideas that focus on your strengths. Do you know what your strengths are? This might be a good time to list them along with your limitations. This little exercise alone can help you set priorities and not get overwhelmed by so many ideas.
The “less is more” principle of bootstrapping can also be applied to your customers. They’re often looking for less – less hassle, less choice, less work, less confusion. Think about how to make it simpler for your customers to buy from you and you’ll have happier customers. Don’t forget your employees. Less is more works with them as well. Remove extra steps from your employees path so they have the time and energy to serve your customers.
You are not the customer!
It’s tempting to offer products or services for people “just like you”. It is easy for an entrepreneur to “fall in love with their own product”. Even smart people have been known to defend bad ideas. The truth is you are rarely the target market for your own goods and services. A bootstrapper is wary of this trap and vigilant about understanding his or her real target market.
Do some real research and listen carefully to your customers. Put them to work for you. Use comment cards to get them to rate various aspects of your business. Try surveys to get more in-depth feedback. Whatever tool you use remember this information is valuable and you shouldn’t expect anyone (including your customers) to work for free. Offer incentives or draws to return the favor.
Look Bigger Than You Are…. Look Like A Pro
- First class voice mail
- Toll free #
- Current website
- Top notch business cards & promo materials
- Write for trade publications
- Dress the part
Why do you want to appear bigger then you are? It’s all about trust. Your customers want to do business with someone they know is in it for the long haul. They want to know you’ll be there next week if they have a problem with your product or they want to buy it again.
Your customers will judge your professionalism with every promo piece you put out. How you answer the phone, your website, how you dress. You may be small but you can look like a pro.
In the words of Lori Colborne, president of Edmonton based LSL Marketing Consultants, “image is everything”. Lori’s book, “Innovative Marketing Made Easy”, is an excellent resource for bootstrappers. You can find it at: www.lslmarketing.com
|
|