1. What is the biggest area that most small retailers can improve on?

Understanding that while they have a passion for what they sell, it is most important they become passionate about running a business. Too many retailers are taking plenty of technical classes at trade shows while skipping on the business management classes. You can have employees do lots of things in your business, but only the owner can handle certain tasks.

2. Tell me about creative ways to make a donation to get more exposure for your business?

Cause marketing is the big thing today. While men are lagging behind with regard to supporting a business that is doing a cause marketing event, women love it. As an example, a store could invite the blood mobile to park in front of the store for a day. Get the local blood bank to send announcements to the media (it doesn't work if the store sends it) so that it is the blood bank telling people to come to the store. The store should be sure to give gift cards or something similar to every donor. They can also get a local food place to participate by donating the refreshments. Do this and the store looks like a local hero.

3. What is the equation of a successful business?

The owner has to posses several traits: sound financial management knowledge and use that information, selecting the right type of business for the right community (this means you don't decide to open a dress shop in the town you live in because you like dresses and your friends say they like your clothes), strong financial backing, good marketing skills, and a strong people personality for the purpose of both selling and managing your staff.

4. Where are some unusual places to advertise?

This is where you get someone to do your work for you. In our store we found that banks needed displays in their lobbies. So we created a display of our merchandise and made a tie in by suggesting the customer see the bank for their lending needs. We supplied a prize that the bank gave away each week. As the bank was seen as giving away the prize, it was seen as an endorsement of our business by the bank.

5. How would you promote children's shopping hours?

The idea of promoting to children is getting the parents into the store they like. The store has to make itself 'kid friendly'. So a child that is shopping for Mother's Day needs to have the
Mom see the store with a display that is created to be attractive to a child, yet have the items that Mom would like to have. Then Dad can take the child to the store. The store needs to do things that are fun for the kids; like snacks, etc.
 
6. What is the Santa Key Chain program and how does it work?

The idea of the Santa key chain program is one that we saw in a store that had been doing it for years. The store got miscut keys from a local hardware store for only a couple of pennies and then put one key on each of the key chains. The key chain has a double sided tag which on one side says something like "Santa's key" and the other side has contact information for the store. As so many homes do not have a chimney, Santa needs help in getting into the house; so the store produces the key chain for Santa.

The store that shared this with us tells that they are into multiple generations of customers now coming to get their Santa key.

7.How should employees greet the customers?

Almost anything but, "Can I help you?" The reason? Every 16 year old working their first job in a fast food place says that to each customer. If you want to be a professional, you have to do something to stand out. You can say hello, good morning, welcome, or something that engages the customer in a conversation. If they are in a hurry they will tell you what they are looking for. If they just want to look around the store, the customer appreciates your not standing over them and pushing a sale down their throat.

Tom Shay is a fourth-generation merchant with over 25 years of ownership and management experience. You can find out more here:
Tom Shay