"The Entrepreneur's Pledge"
The Kauffman Foundation for Entrepreneurship, based in Kansas City, has been helping entrepreneurs leverage their ideas for many years. Their "Entrepreneur's Pledge" certainly resonates with us. It captures the essence of the people we had in mind when we began building The Retail Owners Institute®.
The Entrepreneur's Pledge, from the Kauffman Foundation of Entrepreneurship
The Entrepreneur's Pledge, from the Kauffman Foundation of Entrepreneurship
I AM
- an entrepreneur
- following a dream, pursuing an opportunity, taking charge of my own destiny.
- bringing something of value to society, making a job for myself and for others, and creating wealth that benefits my family, my community, my country, my world.
- one of a movement of millions of entrepreneurs and innovators who made America great, and who will keep our country going...and growing.
- what I am, because many people have helped me along on this journey.
THEREFORE, I WILL
- tell my story, sharing my successes and failures, so that others taking the entrepreneurial path can learn.
- strive to mentor an aspiring entrepreneur.
- make my voice heard by those who make policy decisions that affect me and my business.
- appreciate and celebrate my accomplishments, and the accomplishments of my fellow entrepreneurs.
- give back to the society that helped me to be successful.
- build a stronger America.
Retailers: Do YOU Use "Tricks and Traps" with Your Customers?!?
A columnist for the Tribune Newspapers, Gregory Karp, is warning consumers to beware of today's oh-so-crafty retailers:
In our view, to warn consumers that these are "tricks and traps" reflects an enormous lack of respect for today's shoppers. Plus, it suggests that retailers are able to dupe unsuspecting customers into unwarranted purchases.
That is simply not the world of retailing that we know. Instead, we see retailers working very hard to deliver on the deceptively simple basics: Having the right product at the right place at the right time for the right customer.
No tricks. No traps. Just respect for the customer, respect for the merchandise, and lots of hard work.
"They're using the latest research and high-tech tactics to appeal to your subconscious, in efforts to get you to spend more than you planned. A consumer's best defense is to be aware of these head games and be a more mindful shopper."What "head games" are impressionable consumers to guard against?
- "Luxury cues" - visual cues in displays that connote success, triggering a shopper's desire for luxury indulgences
- "Sensory stimulation" - retailers who effectively use lighting, music and fragrance to influence buying decisions
- "Live models" - shoppers apparently are more likely to buy clothes that look great on a real person than on a mannequin
- "Clever salespeople" who can upsell, and will use "sincere flattery" to make a sale as well
- "Online tactics" - suggesting related purchases, and/or having a deadline on a special price
In our view, to warn consumers that these are "tricks and traps" reflects an enormous lack of respect for today's shoppers. Plus, it suggests that retailers are able to dupe unsuspecting customers into unwarranted purchases.
That is simply not the world of retailing that we know. Instead, we see retailers working very hard to deliver on the deceptively simple basics: Having the right product at the right place at the right time for the right customer.
No tricks. No traps. Just respect for the customer, respect for the merchandise, and lots of hard work.
Flexibility Is Prized, Especially by Hourly Workers. Make It Your Competitive Edge.
Retailers have the opportunity to make "permanent part-time" positions even more advantageous to the stores and the employee. It could become your competitive edge for attracting and keeping the best employees. Here's why.
Even in this tough economic situation, there are people who want only part-time, hourly work. This includes parents of school-age children (who are not the sole breadwinners, but the "supplementers") and university and college students (of all ages).
However, these people may need flexibility (e.g., last minute changes) in their schedule. If you can provide that time-shifting flexibility, they often become the most loyal employees, according to Working Mother magazine.
Retailers are well-positioned to attract and retain these potential loyal workers. But it might require some revamping of the usual-way-of-doing-things.
Remember, your staff who are on salary can come in early and/or stay late to compensate for a parent/teacher conference or taking an aging parent to the doctor. For an hourly employee to have this flexibility, they typically must trade hours with colleagues. That makes it the employees' problem, and, adds another layer of complexity to the solution. Plus, employees may feel it is "inappropriate" to have repeated requests for changes.
That culture has to change. And fast! It starts with R-E-S-P-E-C-T for the real-life demands of all your employees, not just those on salaries.
How to make the scheduling work for all your workers and for your customers? Start first by asking your hourly staff. They will have some very practical insights.
Then, with their good input, your good intentions, and today's scheduling software, keep experimenting with different approaches until you get the one that serves you best.
Flexibility in scheduling - and respect from the employer - is prized by hourly employees. What the retailer gains in return can be tremendous loyalty. (And yes, breaking the attract-hire-train-repeat cycle can save costs.) What a competitive edge for your stores going forward.
Even in this tough economic situation, there are people who want only part-time, hourly work. This includes parents of school-age children (who are not the sole breadwinners, but the "supplementers") and university and college students (of all ages).
However, these people may need flexibility (e.g., last minute changes) in their schedule. If you can provide that time-shifting flexibility, they often become the most loyal employees, according to Working Mother magazine.
Retailers are well-positioned to attract and retain these potential loyal workers. But it might require some revamping of the usual-way-of-doing-things.
Remember, your staff who are on salary can come in early and/or stay late to compensate for a parent/teacher conference or taking an aging parent to the doctor. For an hourly employee to have this flexibility, they typically must trade hours with colleagues. That makes it the employees' problem, and, adds another layer of complexity to the solution. Plus, employees may feel it is "inappropriate" to have repeated requests for changes.
That culture has to change. And fast! It starts with R-E-S-P-E-C-T for the real-life demands of all your employees, not just those on salaries.
How to make the scheduling work for all your workers and for your customers? Start first by asking your hourly staff. They will have some very practical insights.
Then, with their good input, your good intentions, and today's scheduling software, keep experimenting with different approaches until you get the one that serves you best.
Flexibility in scheduling - and respect from the employer - is prized by hourly employees. What the retailer gains in return can be tremendous loyalty. (And yes, breaking the attract-hire-train-repeat cycle can save costs.) What a competitive edge for your stores going forward.
Look, Sam's Club Is Re-Inventing Banking!
Oh my. Once again, our premise holds true: "Retailing is a mirror of society."
All sorts of traditional loan facilities have either dried up or become so very arduous that potential users are discouraged. And this dearth of debt availability - the credit crisis - shows no sign of ebbing.
"Okay," says Sam's Club, "we need to give our customers what they want, in this case, SBA-backed term loans of up to $25,000." And their pilot program has already loaned to about 100 small businesses. Cool, eh?
What we love is watching the competitive juices roil at Costco, Staples, Sears, Office Depot and others. "Let Sam's Club have this 'loyalty program' all to themselves?! Are you mad? No way!"
Banking isn't going away. It's just (finally!) being re-invented, in this case, by retailers who are listening closely to their customers.
My, but this mirror of society can foster some fascinating adjustments, and business opportunities.
All sorts of traditional loan facilities have either dried up or become so very arduous that potential users are discouraged. And this dearth of debt availability - the credit crisis - shows no sign of ebbing.
"Okay," says Sam's Club, "we need to give our customers what they want, in this case, SBA-backed term loans of up to $25,000." And their pilot program has already loaned to about 100 small businesses. Cool, eh?
What we love is watching the competitive juices roil at Costco, Staples, Sears, Office Depot and others. "Let Sam's Club have this 'loyalty program' all to themselves?! Are you mad? No way!"
Banking isn't going away. It's just (finally!) being re-invented, in this case, by retailers who are listening closely to their customers.
My, but this mirror of society can foster some fascinating adjustments, and business opportunities.
Subscribe to:
Posts (Atom)
