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Get These Books to Prosper!
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 | Comments Off
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.
Feb
18
Cash Can Still be Found for Baskets
Filed Under Money | Comments Off
Companies such as Visa, Microsoft, and Oxygen don’t allow the economy to dictate their ongoing business contests, where large cash prizes are awarded through contests to new and current business owners who apply for the winnings.
These are just three companies that continue funding good business plans, and you have the potential to win. That’s what I realized after announcing to designers, years ago, that a $3,000 grant was available from an Internet-based company. A gift basket designer entered the contest, won the money, and promptly invested it in her business.
How would you use cash won in a contest? Would you buy:
Contests are one way to raise cash, and there are other methods. Start with this money source page, then visit other pages in the section.
Also see the article, Where to Find Cash on the Internet, for more ideas on increasing investment cash without digging into your own pocket.
Feb
15
Crafts Equals Cash, Time to Sell, Name Your Baskets
Filed Under Planning, Sales-Increasing Strategies, Startup Help | Comments Off
CAN CRAFTS MEAN MORE CASH?
Two years ago, I helped a gift basket designer write a press release with the title, “Her Craft is in the Basket,” and it was published in her state’s largest newspaper, along with her picture. The story piggybacked on March’s National Crafts Month. She received lots of calls, and best of all, she gained lots of sales.
Wednesday’s newsletter explains how this crafty focus can turn into big business for you, even if you want to be associated with business and not crafts.
BAD TIME TO SELL BASKETS?
I’m receiving lots of Emails from aspiring and current designers who, because of the economy, are nervous about starting and selling. Most of all, family members and friends are discouraging too many of us who believe carving out a career now is the right thing to do.
Here’s the story of how I started with gift baskets when a family member tried to convince me I was crazy. Does my experience remind you of your own?
THE NAME GAME
One of my Valentine’s Day baskets, named “Prisoner of Love,” was such a hot seller every season that it often sold out weeks before February 14, no matter how much inventory I bought.
That’s one of the reasons I encourage you to name your baskets, the subject of this Ask The Gift Basket Expert question. Read it to learn why design names are an important part of the sales process, plus read the numerous comments below my suggestions.
Feb
11
You may not see gift baskets as a craft, but the designation may bring you lots of promotion and sales. Who would turn that down?
National Crafts Month arrives in March. Even though the word “craft” relates to knitting, sewing, and scrapbooking, gift baskets can be part of the mix, especially if you offer customers special promotions that in turn enhance your community standing.
For example, one designer hosts a “make your own gift basket” event every March. While this may sound like it’s no big deal, this event generates hundreds of thousands of dollars because she donates 15 percent of all sales to a local charity. It benefits the entire community, so everyone gets involved.
Local newspaper and television reporters give her lots of coverage. Loyal customers and new people within the community get in “on the action” because everyone wants to be in the community “hot spot” (her shop). It’s a win-win event for the region, and the designer gets all the accolades, a major portion of sales, and the opportunity to fund a needy cause.
Can you see how the word “craft” can work to your benefit? Try this promotion or another that brings you notoriety in March. Start planning it now so that you can build your business in a month that turns slow sales into baskets of success.
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