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 Tuesday, May 06, 2008
Entrepreneurs 5 Fatal Flaws of Retail
Posted by Beth

Check out this article on Entrepreneur's Web site. Very interesting piece on the five ways retailers fail:  "5 Fatal Mistakes for Small Retailing" by Ronald L. Bond.

While I don't prefer mortuary language when it comes to talking about retail there is some very good advice here.

Perhaps what's most interesting is what Bond doesn't say- he doesn't say that retailers must have the cheapest prices or the most product or the biggest store.

What you'll take away from this article, is that customer service is absolutely critical and even if you don't have everything else in place, poor customer service can trip you up.

Read the article
and let me know what you think.--Beth



5/6/2008 5:26:54 PM (Eastern Daylight Time, UTC-04:00)  #  
5/8/2008 12:21:39 PM (Eastern Daylight Time, UTC-04:00)
Tut, tut, Ms. Mauro. Talk about flaws. Pardon moi, but I fear you've made one. Would be happy to read the article, but... Don't know entrepreneurs site. Could try to search for it. Nyah! Too much effort for this 'puter-challenged person. However...

Not reading the article doesn't prevent me from offering comments on the topic, right?

Far as 'mortuary' language goes, I have 'no problem' with it. I'm all for doing the 'warm & positive' stuff with & for retailers, but let's be blunt--death by retail is a fact of life. Stores open & stores close. Being a retailer is a high-risk occupation--regardless of what's being sold.

I would also agree that retailers who don't provide 'above & beyond' customer service are pedestrians trying to cross a freeway--they're gonna die or ,at least, suffer major trauma.

But what does 'A&B' customer service mean for an SBR? Certainly it means doing your absolute best to satisfy your current customers with the stuff they're looking for. It also means doing the hard work of finding stuff for them that they don't [yet] know they 'need'. And that's just the tip of this iceberg for SB retailers these days. If you're not open to providing that kind of 'A&B' for any fish who enters your net [we're talking crafters who don't scrap], you don't know how to fish!
And you're going to lose your boat.

From my p.o.v. Customer service can be the difference between being captain of the Titanic or the Minnow. Both 'sunk', but the Minnow had a long life after sinking.

5/8/2008 3:15:24 PM (Eastern Daylight Time, UTC-04:00)
The link to the article is not working.
Jamie
5/9/2008 8:22:34 AM (Eastern Daylight Time, UTC-04:00)
"My Bad", Beth. I truly did not see the link as a link. On my 'puter screen it looks almost the same color as the other text. I'll give it a try, but still figure my initial comment is ok...
5/9/2008 5:29:50 PM (Eastern Daylight Time, UTC-04:00)
The link is http://www.entrepreneur.com/management/operations/article193340.html.

While I am not a fan of sensationalized headlines, the article does have merit. As a former small business owner and a small business consultant, the writer makes some very good points.

Thanks for pointing it out.
I recently found your blog and am enjoying reading your content.
5/12/2008 8:03:09 AM (Eastern Daylight Time, UTC-04:00)
Hi Beth:

I own a quilt shop and get a lot of value from your blog. Thanks for the tip on the article. I like the "cold hard facts" and believe that we work so hard to make our businesses friendly that we can fall into what I call the "quilt guild mentality." We are so nice that we start seeing ourselves as a club - not a business.

I have been struggling with being open on Sundays and have decided to go forward with the plan to do so. Bond's article validated my reasons for doing this.

Thanks again.
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