Folder Topic of Your ChoiceChuck, where are you

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 From:  basehorawards 21 Jul 2006 
 To:  LaZerDude (C_BURKE)  100 of 109 
4334.100 In reply to 4334.98 
quote:
KNOW I should be calling my competition, but I don't know what questions to ask.....about which products, etc. And what I HOPE will be to my advantage, I have the ONLY awards showroom on the island. Everyone else is working from their home. The location is not the best, but it is what was available.


You might get some different opinions on checking prices of your competitors. My closest competitor is also home based. I have never talked to them and would not know them if I saw them on the street. They bought an established "legendary" home based trophy store. Unfortunately for them (good for me) they did not buy the customer service the previous owner had. I do not know what they charge but I do know what I have to charge to make money to feed my kids so that is where I set my prices.

I am a bit curious about what they offer other than trophies as they have added "and more" to their name but not enough to send in a secret shopper. I just do the best I can in sales and production. Set a reasonable price and hopefully retire in twenty years. I do have the good fortune that my wife's employer covers our health insurance.

BTW is your store where the tourist will see it? If so fill your window with engraved locally obtained items such as coconuts, rocks, drift wood, etc. See what walks in.

James Smith

Basehor Awards & Trophies
 

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 From:  UCONN Dave & Lynn too (DANDL48) 21 Jul 2006 
 To:  LaZerDude (C_BURKE)  101 of 109 
4334.101 In reply to 4334.99 
Chuck, Absolutely no idea. But than again, I forget what I did this morning, let alone what I read a week ago. It's a pain to get old brudda! Really hope that this thead has helped you although I didn't start it that way, just wondering where you have been. BTW, did you get into sublimation? Dave
Born at night, just not last night.
 

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 From:  LaZerDude (C_BURKE) 21 Jul 2006 
 To:  basehorawards  102 of 109 
4334.102 In reply to 4334.100 
quote:
BTW is your store where the tourist will see it?


James,
No it is not. Rents in places where tourist would shop, run a minimum of $2000.00 per month plus fees. ( Paradise is expensive)
It actually is not able to be seen at all, however it was the ONLY space available that HAD a showroom. Unfortunately one must walk through my upholstery shop to get to the awards showroom.
It was necessary to take this space because I needed to be "in" the complex in order to be able to get first dibs on "any" space in the front building which has great visibility.

 

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 From:  LaZerDude (C_BURKE) 21 Jul 2006 
 To:  UCONN Dave & Lynn too (DANDL48)  103 of 109 
4334.103 In reply to 4334.101 
quote:
Really hope that this thead has helped you although I didn't start it that way, just wondering where you have been. BTW, did you get into sublimation? Dave


Dave,
This thread has bouyed my spirits and got me to thinking. There is hope :D 
Yes, I did get into sublimation. What I have done with it so far has been mouse pads and a couple of murals.....so far so good.
Thanks for starting this thread.

 

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 From:  Dave Jones (DAVERJ) 21 Jul 2006 
 To:  LaZerDude (C_BURKE)  104 of 109 
4334.104 In reply to 4334.99 
quote:
To which thread are you referring? I would like to read it. Maybe.

It was from this thread:

http://www.engravingetc.org/forum/index.php?webtag=EE&msg=4325.22

About ladies with long fingernails. :O 

EDITED: 21 Jul 2006 by DAVERJ
 

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 From:  LaZerDude (C_BURKE) 21 Jul 2006 
 To:  Dave Jones (DAVERJ)  105 of 109 
4334.105 In reply to 4334.104 

Dave,
Thanks....how did I miss THAT one? Oh right, I have not been here :-( 
 

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 From:  Doc (GREAT_ATLANTIC) 22 Jul 2006 
 To:  LaZerDude (C_BURKE)  106 of 109 
4334.106 In reply to 4334.38 
quote:
So how does one approach these potential customers? Cold calls? ( COLD FEET). It goes back to my try at radio advertising. I would sit in my car frozen with fear at the prospect of going into a potential clients place of businesses.
How does one convince someone they need ones product or service?


Chuck....we haven't yet met, so I'm afraid I can't discount my 2 cents. Here's my take anyway.

Having been the president of a fairly large corporation before founding Great Atlantic Trophy Company, one of the things that is clear to me is that not everyone can sell. Some have a God-given talent, some have been able to overcome their fears or personalities, and some have a trained approach. But the vast majority simply can't.

That's not a bad thing, even as a business owner. Sure, it adds to your angst as you try to build a new business and suffer the frustration of slow initial sales. But executives - and small business owners - have unique talents that may have nothing to do with sales. Creativity...Efficiency...Management Skills...Technical Excellence. All these things can add up individually or collectively to ensure success on your end of the equation.

The critical sales side? Hire people. Yeah, I know that sounds impossible now with zero cash flow and a bleak outlook in your first experience with a storefront, but it is possible. Literally thousands of companies, small and large, employ salespeople on a fully commission-only basis. I have to guess that there is a large pool of available University of Hawaii kids that would love to make a few extra bucks and have something they can dutifully embellish on their resumes after graduation.

And while it may seem that your margins simply can't be stretched to accomodate an additional 10, 15 or 20% in commissions, consider the alternative. Now, I'm not suggesting that you ever take a true loss with this strategy, just set your own pricing with sales commission in mind. Too much competition? Nonsense. A terrific, young salesperson will break through the price barrier with advantages that you seed with them: quality - efficiency - unique product offerings - whatever.

This will be found money, a percentage of which you will retain in return business for years to come. While this growth is taking place, you can hone your own skills if you choose, build your own self-confidence and sell in your own time at your own pace.

Just keep in mind that the single most effective form of sales is relationship selling. This will certainly come naturally (based on what I've read about you in Vegas) as your business grows. Just don't give up...it's way too easy.

Jim


 

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 From:  gt350ed 22 Jul 2006 
 To:  Doc (GREAT_ATLANTIC)  107 of 109 
4334.107 In reply to 4334.106 
I just read your post and find that I could not agree more. This is great advice for Chuck and all of us, and a great "add" to the many previous posts, also of great value.

And, for everyone else, please keep them coming. Chuck is not the only one being helped here, although he IS the only one wearing a grass skirt. B-) 

Ed Holley
Victor Valley Trophy & Awards Co.
and Coffee Mugs Online
www.coffeemugsonline.com
 

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 From:  LaZerDude (C_BURKE) 23 Jul 2006 
 To:  Doc (GREAT_ATLANTIC)  108 of 109 
4334.108 In reply to 4334.106 
quote:
(based on what I've read about you in Vegas)


What happens in Vegas, Stays in Vegas. B-) With the possible exception of Peter.

Thank you for the thoughtful post Jim. I appreciate your two cents. I have read, been told and mentored that one must find folks with skills ( selling) that one does not possess.

I am not adverse to hiring a salesperson, and perhaps after next weeks marketing part of the core four class I am taking I will have a better idea of how to define my market ( the possiblities are endless) and then be able to develop a plan to go after it.

My wife Lisa and I were discussing last night the one of the challenges seems to be how VAST this industry is, and finding a focus. THAT in itself could be the root of the entire problem.

As I have mentioned before, at THIS point failure is not an option. I can no longer throw in the towel, because not only would I be letting myself down, I would be letting you, and everyone here that has come forth in support, help and encouragement down, and I simply cannot do THAT!.

Thank you again Jim for your help.

 

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 From:  logojohn 23 Jul 2006 
 To:  LaZerDude (C_BURKE)  109 of 109 
4334.109 In reply to 4334.108 
That was some good advice.

quote:
I am not adverse to hiring a salesperson


The cost of marketing and selling is there whether you or someone else does it.

1. do it yourself - reduces your time that can be spent on production, planning and other activities.

2. extra help - actual salary or commission expense.

3. sell wholesale to others - The price you charge is less, sometimes half, but don't look at it as selling for less . . . it is the marketing and selling costs you only have to pay if somebody sells something for you.

After a little setup time at first, the orders they bring in will require little processing time on your part, so you are in effect outsourcing the marketing and sales.

One of the areas we do a fair amount of wholesale work for are asi salespeople, the vast majority of which are only salespeople and have no equipment. We also have a very large asi department but that hasn't been a problem since we don't steal their customers.

Check your phone book. Most cities of any size have many more ad specialty listings than award storefronts. Since you are so far from the mainland there may be a good market for lasering items for this existing sales force.
Many times they have volume orders which are less per item but more lucrative because you set up once and do multiple items.

.
trophiesinc.com
 
 
     
 

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