Concerned about your customer’s budget?

llbeancatalog

llbeancatalogOne of the most valuable things that I have learned through the years is to study what other industries are doing and see how their successes can be applied to my industry.  Today’s tip isn’t from the gift basket industry.  It’s from L.L. Bean.  Now, just in case you are one of the few that aren’t familiar with this company, it is one of the leading catalog companies that sell outdoor clothing and gifts. 

Now most of us, as small micro businesses, don’t have the funds to print full-color slick catalogs of the L.L. Bean quality but we can perhaps swipe an idea that the company used in a letter from the company’s President/CEO to its customers. 

The letter begins “Today while many familes are looking for ways to stretch their budget, they’re often challenged to make the difficult decision between quality and price.  At L.L. Bean, we’ve never offered a choice — we’ve always insisted on both.”  He then refers to what he calls “Bean Value” items — many of which are customer favorites–whose prices haven’t gone up in price in years.  In some cases, the prices have actually gone down.  “We’ve never played games with prices — in good times or bad,” he continues.

I’m not suggesting that you copy this letter but to use the basic idea to reassure your own customers that you are concerned about their budget and to tell them what you are doing about it.

Add your comment telling us what you are doing to reassure your own customers.

Candy Bar Wrappers

Front of Candy Bar Wrapper

Diversification is important to the success of any business — particularly in times of economic downturn or recession.  Gift Baskets are my business — but they aren’t my only business.  I offer a variety of products and services that help increase my income when people aren’t particularly interested in buying a gift basket.

One product that I don’t offer, however, but could be an easy way to add a little diversification to your business or even be used to theme one of those gift baskets are themed candy bar wrappers.

Remember the story I told you about Rosa a few days ago?  If not, scroll down and read it.  Well, tomorrow is the party to celebrate the event.  And my daughter, who thinks I am a Creative Gift Entrepreneur, asked if I would make wrappers for candy bars to pass out as favors at the party. 

This is what I designed:

rosa-candy-bar-front2

rosa-candy-bar-back2
Now, I have my daughter fooled.  I’m not as creative as she thinks but these were relatively easy to make.  I had made them before for an occasional themed gift basket using Microsoft Publisher and clip art but this time I wanted them to be very special.  So I bought a special program from wrapcandy.com. 
Now I’m the lady that has never taken a computer class and taught myself how to use all these programs on my laptop, as well as how to build and optimize a website.  But after wandering through this particular program, its instructions, and the support forum, I threw up my hands.  Went back to creating a template in Publisher, adding a photo and designing my own candy wrapper.
I ended up with a simple design instead of a “wow” one but I think Rosa will like it!  You see, purple is her favorite color and she loves to see anything with her newly acquired name on it. 
And I think I’ll create some more designs.  These make great inexpensive marketing favors — even if the price of Hershey’s candy bars has gone up at Sam’s Club since I last made some of these several years ago.  And, who knows, this may be just another easy way to add even more diversification to my business.

Money Can’t Buy Happiness — But It Sure is Nice to Have!

money1

money1Remember that money doesn’t bring happiness.
     People with ten million dollars are no happier than those with nine million.

                      Irving R. Levine

Irving R. Levine was a financial reporter who died today.  That statement was tongue in cheeck but when it came to money and finances, he was right on target.

Money can make the difference between a successful business and a failed one.  That is why it is so important to create a feasibility plan when starting your new business.  You need to know how much money you are going to need to start and operate your business during the first three years — and, just as important, where that money is coming from. 

Are you going to be able to make a profit, break even, or is it looking more like a loss?  What expenses will you have?  What is your projected income (and be realistic).  This is not the time to let the “dreamer” side of you take control.

If you are going to be a one-person operation, can you reasonably put in enough hours to create the products or produce the services that will be required to make the income you are projecting?  And don’t forget that a one-person operation has to do much more than just produce products and services.  What about the time necessary for marketing?  For billing?  For ordering products?  And for all the other parts of conducting a business.

If you’re starting or operating your business without any kind of financial plan, you’re playing Russian Roulette!

Do you sell based on price?

In today’s economy price is important.  But even more important is value.

If all you talk about when marketing your gifts and gift baskets is price (whether on the internet or in person), that’s what your customers will base their buying decisions on.

If what you feature is the needs and benefits to your customers, they  will base their decisions on how well you meet those needs and desires with your product or service.

What do you talk about?

SBA launches new website for small business owners!

The Small Business Administration, has added a new website to help small businesses have questions answered and to find support for growing their business.  In addition, business owners and prospective business owners can also find quick links on starting a business, registering a new business, information on finance and taxes, and staying compliant with laws.

From the SBA:

WASHINGTON–SBA’s Business Gateway Program announced today the launch of a new Web initiative– http://Community.Business.gov –the first government-sponsored online community built specifically for small businesses.

The objective of the Business.gov Community supports the White House’s mission to create a transparent and connected democracy, and aims to provide small-business owners, bloggers and the government with a place to discuss and share information about starting and running a successful business.

An extension of Business.gov, the Business.gov Community combines discussion forums, blogs, an idea exchange and more, and offers advanced tools for navigating the labyrinth of government resources, policies, laws, and opportunities that impact the small business owner.

In addition to providing a “home” where users can share expertise and unique experiences, the site also provides a pioneering opportunity for small businesses to provide direct input into Business.gov and voice the ways government and the online community can better serve them.

“Over the past year, we have significantly expanded our efforts to engage with small business owners by giving them easy access to the information they need to run their business,” said Nancy Sternberg, program manager of Business Gateway. “The launch of the Business.gov Community represents a new milestone. Through the application of Web 2.0 technologies, we hope to unite small-business owners, industry experts and government, and take the program to a new level of collaborative knowledge-sharing and insight.”

Over the next few months, the Business.gov Community will expand to include additional features and resources that address specific user interests and provide access to the wider pool of government and Business.gov partner resources available to the small business owner.

About Business.gov

Business.gov is managed by the U.S. Small Business Administration in partnership with 21 other federal agencies. This partnership, known as Business Gateway, provides innovative information services to the small-business community that save time and money, engage citizens to participate, and enable collaboration across all key levels of government. Launched in 2004, Business.gov provides a single access point to government services and information to help the nation’s businesses with their operations.

A Special Day

rosa

rosa1I rarely ever post anything personal but I have to share.  Yesterday was a special day.  Yesterday was Rosa’s Day. 

As I sat in the courtroom and watched this special little girl, dressed in what she calls her “twirly dress”, smiling with pure happiness, I thought back to the day almost two years ago when I first met her.  Details are not important and are too personal to be shared but she was a foster child who was to be a temporary addition to my daughter’s family.

Yesterday, temporary became permanant as the judge, looking stern in his black robes while trying to smother a smile, said “I approve this adoption and name change.”

Yesterday was Rosa’s Special Day.  But yesterday was also a very special day for our whole family as my daughter and son-in-law acquired a new daugher and I acquired a new grand-daughter.

Yesterday was Rosa’s Day.  But yesterday was also Family Day.

Free Resources and Special Offers

As I mentioned in my original post, I’ll be including some resources that you’ll find very useful while building and growing your business as a Creative Entrepreneur.  Here are some to take advantage of right away as the time is limited on them.

 Free Handwriting Font in  YOUR handwriting

So, you want a font in your own handwriting? This is not anything new but it is usually not free.  In today’s world, free is good.  Right?  For a limited time, you can get it done for free at YourFonts.com . Once they reach 250 thousand fonts, they will start charging. They are closing in on 130 thousand fonts now.

Rebate and More on any Dummies Book and Audio Set

March is Dummies Month apparently. When you buy any “For Dummies” book or audio set between March 1st and 31st, you will be entitled to a $5 rebate check and that’s not all, they will send you an additional $5 rebate for any “For Dummies” book that you purchase from June – August 2009. Details here.

Free Website Magazine

I receive Website Magazine and have found that it is a great mag for anyone who owns and runs a web site and more importantly looking to make it profitable. You can grab your copy here Website Magazine.  Magazine offers run out quickly and I don’t know when they will re-appear so you’ll want to get yours today before the offer closes.

That’s it for today, folks.  But check back often as I will be posting other great free offers periodically.

Not Your Traditional Gift Basket

cap

With today’s economic downturns, customers are looking for value when making  a purchase more than ever before.  Sending a gift is still an accepted way to express feelings–regardless of the occasion.  But that gift has to be more than just an ordinary gift.  That gift has to be special.  It has to speak louder than words.

Our customers have all sorts of options for gifts.  They don’t have to send a gift basket.  They can send flowers, a gift card, a book, a cake, cookies, or any number of other things instead of a gift basket.  If all you offer is a traditional gift basket, you may be left behind.

I can hear you now.  “But I don’t want to have to carry a lot of gift inventory.  This box of cookies that I bought can be used in any gift basket that I create.  Buying more stuff just isn’t practical with today’s economic downturn.”

All of that is true.  But you are a CREATIVE ENTREPRENEUR, aren’t you?  If not, stay in touch with this blog.  Follow its suggestions, and you will become one.

Creative Entrepreneurs think outside the box–and even outside the container. 

Let’s start with the box.  We use lots of themed gift boxes in this business.  It’s how you use them that can make all the difference.  You’ll find the Boxco Doctor’s Bag box on just about every gift basket website.  But look at how it’s used.  Some people theme it with Dr. Feelgood.  Others fill it with cookies.  There are those who incorporate a teddy bear.  It can be used for a Get Well gift, a gift to welcome a new doctor to the hospital, a gift to say “Thank You for Being a Great Doctor and Taking Such Good Care Of Me”.   But really thinking outside of the box, it could be used as a housewarming gift filled with move-in necessities and called “Doctor Welcome to the Rescue.”

capTake a look at all those Boxco gift boxes that you have on your shelves.  Put on that Creative Entrepreneur thinking cap and think of other new and exciting uses for them.  In other words, think outside the box!”

Now, let’s take that box of cookies that you bought because it could fit in any gift basket.  Is your Creative Entrepreneur thinking cap still on?  What can you do differently with it?  How can you make it an inexpensive gift of it’s own?  There’s wrapping paper, labels, gift containers and more that can be used. 

I could give you suggestions but I’m not the only Creative Entrepreneur online.  You have to be one too!  My purpose is to guide you to the new sparkling, clear water.  Now it’s up to you whether you drink or go back to that comfortable, familiar old watering hole.

So think outside that box and suggest some ideas that you came up with when you put on your Creative Entrepreneur Thinking Cap!  Share your thoughts by adding a comment.

The Face in the Mirror or What Did You Learn Today?

three-bears

three-bearsRemember that girl called Goldilocks?
And how she broke into the house of the Three Bears?
And how she ate their porridge, sat in their chairs, and slept on their beds? 
All while the three bears felt that their little home in the forest was safe and secure while they went into the woods for a picnic that day.

Well, that’s what has happened to many business owners.
Something has eaten your porridge, rocked in your  chairs, and rustled those
sheets while it slept in your bed — all while you felt you were secure enough that you could relax and go into the woods for a picnic while your business took care of itself.

And suddenly you arrived home to find the doors unlocked, the bed unmade, and the porridge all gone.  “Woe is me!” you moan, as you wring your hands.  “What is a hard working business person to do?”

I’ve read posts on the gift basket bulletin boards both from people starting a business and from those who have been in business for years.  They ask, “What can we do to rescue our businesses in this economy?  What techniques are working for the rest of you. ”  Tell me, Tell me quick so that I can do it do, they seem to say. 

Businesses are closing daily while others are in dire need of  resisutation.  But you’re looking for the wrong Goldilocks.

  • It’s not the economy.  People are still spending money on “feel good” gifts. 
  • It’s not the lack of customers.  They’re still there, waiting to buy.
  • It’s not the industry.  As a whole, it is as strong as ever and will remain whole even if your business doesn’t.

The answer is easy.  Take a few moments, step into your bathroom, and look into the mirror.  You’ll see the answer staring you in the face.  Ask that person that you see looking back at you, “Are you taking advantage of every resource out there to keep your business growing and thriving in today’s world?”

Then step back, think a few moments, and listen to the answer swirling around in your head.

I believe that the strength and the backbone of any industry, including the gift and gift basket industry, rests with the educational offerings, resources, and information shared with each other.  The world is changing.  The gift industry is changing.  That’s not news.  It has been changing from the time it first began.  There are always new ways to attract customers, new technology to embrace, new ways to keep our customers coming back, and new ways to motivate employees.  There are always new products, new techniques, and new resources. 

So let me ask you the question:  What did you learn today?  What resource did you take advantage of? What new technique did you try?  What idea did you put into practice? 

And don’t say, “How can I do that?  There aren’t any resources!  I’m all alone.”

It’s not a question of a lack of resources.  There are at least five gift basket related bulletin boards available for your use — all frequented by many experienced in past recessions that can help guide you through the maze.  At least two of these are free.  The others either require a subscription to our national trade magazine or a membership in a gift basket directory, or a membership fee to use the board.  The advantage that the private boards have over the free open-to-the-public boards is that those with knowledge to share are more willing to share if they show what they are sharing isn’t going to show up in the search engines.

Are you taking advantage of the other resources?  Rave Reviews, the only trade publication for our industry, isn’t free.  GiftBasketNetwork is the leading directory, for the least cost and the most benefits, for driving traffic to your website.  You can operate your business on a shoestring but you can’t grow it without spending some money on important resources.

Are you learning everything you can about changes in the industry and in technology?   Some of you are while others are stretched out on the grass sleeping away the afternoon while Goldilocks trashes your house.  In the forum, available on GiftRetailersNetwork, a few weeks ago, I offfered a FREE copy of an ebook about how to increase traffic to your website with search engine optimization.  Out of over 100 members, six were awake enough to take advantage of this free resource.  And, no, it is no longer available for free.  Like many things, if you snooze, you lose.

So look in that mirror and place the responsibility, for making sure that your business continues to grow and thrive, where it belongs.  Today, and at the end of each day, ask the face that is staring back at you, “What did you learn today?”

Keep Your Business Nimble

Jack is Nimble - Jack is quick!
Jack is Nimble - Jack is quick!

Jack is Nimble - Jack is quick!

One of the biggest benefits that we, as micro business owners, have over large businesses is the ability to be flexible and to change quickly.  We can respond to market changes and trends.  We can change something, test it to see if it works, and if it doesn’t, change it again. 

If you’re an online business, as I am, you can make changes daily on your webpages.  If you get a great price on something or a new item comes in, you can tell your customers about it immediately on your website or by sending out an email message. 

Michael Gerber, author of The E-Myth tells us that “the difference between great people and everyone else is that great people create their lives actively, while everyone else is created by their lives, passively waiting to see where life takes them next.  The difference between the two is the difference between living fully and just existing.”

The same statement can be applied to our businesses.  We can wait as the economy and our customers determine where we’ll go next or we can get off our duff and take charge.  We can exist or grow our business to its maximum capacity.

Regardless of what kind of business you’re in, there are only four ways to grow that business:

  1. Get new customers
  2. Increase the dollar amount per transaction
  3. Increase the number of transactions per customer
  4. Increase the length of time your customer stays loyal to you.

One of the biggest mistakes that entrepreneurs make is focusing their entire energy on getting new customers.  Not only does this cost more than keeping existing customers, but it takes more effort because you have to be constantly looking for new ones to replace the ones you lose. 

The other three options depend on your staying in touch with your customers on a regular basis and ALSO on continuing to think of reasons for that customer to buy from you either more often or spend more when they do buy.  Creating systems (something I’ll discuss in a later post) makes it much easier to stay on top of this and make it work effectively for you.

For example, you sell a baby basket.  Contact the sender 11 months later and suggest sending a one-year-birthday gift.  Your Realtor customer orders a closing gift.  Suggest that they stay in touch with their customers (and get those listings and referrals) by sending a six-months gift and a one-year-anniversary gift. 

Add-on gifts can increase the dollar amount for a transaction.  Think outside the box and look for new and different products that they “simply can’t resist.”  Or how about creating a Costumed Delivery for an extra charge.  A jolly leprecon could deliver a St. Patty’s gift.  Santa or one of his elves could make those Christmas deliveries.  Or, if you’re one of the fortunate few who can carry a tune (and that’s not me!), provide a singing delivery service.

Being a micro-business is what enables us to be Creative Gift Entrepreneurs.  So put on your creative thinking cap and think of some ideas that would enable you to be nimble and test some new and different marketing ideas.  And while you’re at it, share some of those ideas with us.  Just click on “comment” below and share.