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Economy

Learning from competition encourages internal review

Often in business, we forget to do the obvious.  Focused on innovation and managing inventory, we can overlook what the competition is doing.  It is always a good idea to stay on top of how the competitor operates, and stopping by their place of business is an easy way to see how they do things.  They may know something you don’t, or you might just see how you can improve how you do business seeing things through the eyes of the customer.

How does your competitor receive their guests?  Do they take an active and aggressive or passive and suggestive approach to salesmanship?  Are they

Thriving in Economic Uncertainty

At a recent trade show I attended it did not take Sherlock Holmes to deduce that the traffic was down considerably. Today’s economic uncertainty has the market in turmoil, as businesses see cutbacks in all areas of their companies, layoffs and declines in revenue. All of this makes it difficult to pull the trigger on a buy for any inventory or even to sell the obsolete or slow moving products.

The concerns that I heard were we can cope with the economy and the operation of our business but our largest concern is the uncertainty of what the government is going to do next.

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