Feb

25

How to Make Sense of Trade Show Dollars

Filed Under TRADE SHOWS | 2 Comments

Which gift trade shows have you attended or are preparing to attend?

In between filling orders, it’s crucial for you to check inventory items before attending a show to determine which products need replenishing, which won’t be reordered, and what new products match your clients’ profiles.

Checking stock allows you to:

1) Purchase a considerable amount of wholesale merchandise to ensure that you don’t run out of stock before mid year.

2) Take full advantage of trade show specials, including free freight.

3) Keep retail store purchases to a minimum, specifically to maximize your budget and time competing with general consumers for store merchandise.

As an example, you may be a designer who has $1,000 to spend until the next season’s show. This is a conservative amount but a good round figure as a model.

The bulk of the funds is usually allotted for foods, gifts, baskets, containers and enhancements. Less will be spent buying shred and cellophane, as these items are most likely on hand from prior seasons.

A small portion of your budget may be allocated for new products that match customer requests. Review their wishes very closely before deciding what to buy.

If you’re not located near a gift trade show, invest the travel dollars saved on a subscription to gift industry magazines. These publications deliver monthly trade shows and seminars to your door through ads and articles.

Out of eight gift industry magazines I know exist, three are fee based totaling an average of $100 per year, so pursuing subscriptions is a wise investment.

Make a concerted effort to plan your buying list before attending a trade show. Planning helps you stay in control of your dollars, and that makes sense to keep growing profitably.

See my trade show speaking schedule here, and if you attend, please introduce yourself after the event. I’d like to meet you.

Feb

22

Start-Up Money, Get Organized, How to Donate

Filed Under Donation Requests, Money, Organize Your Workspace | Leave a Comment

IN THE MARKET FOR MONEY

Years ago, American Express and the Women’s Basketball League sponsored a small business contest. A gift basket designer, located about 30 minutes from my office, won the top prize of cash and a computer. I think about her good fortune every time I ride past her thriving location.

Wednesday’s newsletter reminds you that well-funded corporations continue to sponsor contests and other events that benefit your business. Intuit, the makers of QuickBooks, is running one now. Have you entered?

WELL OILED BUNCH OF BASKETS

A client called me to place an order. I grabbed an order form from a drawer directly under the phone. When the order was written on paper, I placed it on the front of a shelf above my worktable, similar to the way restaurant orders are positioned. That’s when I knew I had a good sales system in place.

This article shares more ways to ensure that your business is in working order, saving you lots of time and lowering your stress. If you’re disorganized, let these tips get you under control.

DONATION OR DUMPSTER?

Your inventory houses many products. Now that it’s 2009, is it time to clear out old goods that are too dated and dingy to sell? Some items may qualify as donations.

Click to read this story, which helps you decide how to discard items that clog your shelves and creative success. It’s time to dump it for good.

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