Comments on: Family Business Manifesto: Why They Aren't Down On The Farm http://www.retaildoc.com/blog/fbmanifesto/ The Retail Doctor Fri, 04 May 2012 19:07:55 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Phil Wrzesinski http://www.retaildoc.com/blog/fbmanifesto/#comment-250 Phil Wrzesinski Fri, 21 Aug 2009 23:48:46 +0000 http://www.retaildoc.com/blog/?p=2695#comment-250 Bob, isn't that the truth? Dr. Ernesto Sirolli of the Sirolli Institute says that to be successful in business you have to be great in three areas - Products, Marketing & Financials. He goes on to say that most are only good at one (products) few are good in even two of those categories, and no one is good at all three. And if they are good at two, the second is usually marketing. Personally, I add Customer Service to his original three and agree that few can do even two of the four well. Yet, most do not seek out the help they need to be successful in all areas. (That's where people like you come in:-) I can't wait to see your book. Thanks! Bob, isn’t that the truth?

Dr. Ernesto Sirolli of the Sirolli Institute says that to be successful in business you have to be great in three areas – Products, Marketing & Financials. He goes on to say that most are only good at one (products) few are good in even two of those categories, and no one is good at all three. And if they are good at two, the second is usually marketing.

Personally, I add Customer Service to his original three and agree that few can do even two of the four well. Yet, most do not seek out the help they need to be successful in all areas. (That’s where people like you come in:-)

I can’t wait to see your book. Thanks!

]]> By: bobphibbs http://www.retaildoc.com/blog/fbmanifesto/#comment-249 bobphibbs Mon, 17 Aug 2009 14:15:21 +0000 http://www.retaildoc.com/blog/?p=2695#comment-249 Hey Phil, Glad you liked it. The first chapter of my book to come out mid-2010 , The Retail Doctor's Guide To Growing Your Business is all on the financials. It is woefully the most ignored aspect of business planning I know. Hey Phil, Glad you liked it. The first chapter of my book to come out mid-2010 , The Retail Doctor’s Guide To Growing Your Business is all on the financials. It is woefully the most ignored aspect of business planning I know.

]]> By: bobphibbs http://www.retaildoc.com/blog/fbmanifesto/#comment-248 bobphibbs Mon, 17 Aug 2009 12:56:11 +0000 http://www.retaildoc.com/blog/?p=2695#comment-248 Hi Kirsten, I hear your pain and that was not my intention. My suggestion is why do you feel forced to continue? Your situation would take much more than I can put into a reply but the hard question to ask is, "Is there a market for the merchandise I choose to carry in the location I have?" At the levels you've indicated, you might need to seriously look at your financials and see what it would take to get to break-even. If that does not look realistic, it may be time to consider shutting the doors. If you are committed to changing and the break-even is possible, consider contacting me by email. My best to you. Hi Kirsten, I hear your pain and that was not my intention. My suggestion is why do you feel forced to continue? Your situation would take much more than I can put into a reply but the hard question to ask is, “Is there a market for the merchandise I choose to carry in the location I have?” At the levels you’ve indicated, you might need to seriously look at your financials and see what it would take to get to break-even. If that does not look realistic, it may be time to consider shutting the doors. If you are committed to changing and the break-even is possible, consider contacting me by email. My best to you.

]]> By: Kirsten http://www.retaildoc.com/blog/fbmanifesto/#comment-247 Kirsten Sun, 16 Aug 2009 23:32:31 +0000 http://www.retaildoc.com/blog/?p=2695#comment-247 I read your blog religiously & because of it take 100% full responsibility for the decline of my business. Everyone trys to blame the economy for me. But ultimately it's my fault. I've run it for almost 8 years & the landlord makes more than me...which is nothing...and I have so much debt I feel forced to continue & try to figure it out. Was down 23% for the year until August, which is down 60%. I cry myself to sleep every night. No wonder my teen daughter resents my retail store & wants nothing to do with it. Now I understand. But how do I fix it? .-= Kirsten´s last blog ..<a href="http://aboutmemoriesandmore.typepad.com/were_so_much_more_than_a_/2009/08/mindys-birdhouses.html" rel="nofollow">Mindy's Birdhouses</a> =-. I read your blog religiously & because of it take 100% full responsibility for the decline of my business. Everyone trys to blame the economy for me. But ultimately it’s my fault. I’ve run it for almost 8 years & the landlord makes more than me…which is nothing…and I have so much debt I feel forced to continue & try to figure it out. Was down 23% for the year until August, which is down 60%. I cry myself to sleep every night. No wonder my teen daughter resents my retail store & wants nothing to do with it. Now I understand. But how do I fix it?
.-= Kirsten´s last blog ..Mindy’s Birdhouses =-.

]]> By: Phil Wrzesinski http://www.retaildoc.com/blog/fbmanifesto/#comment-246 Phil Wrzesinski Sun, 16 Aug 2009 18:09:55 +0000 http://www.retaildoc.com/blog/?p=2695#comment-246 Bob, Excellent article and important lesson. Too many people forget the most important part of business - being profitable. In our last Jackson Retail Success Academy class we opened the eyes of one small retailer who realized they were paying the landlord 4 times what they were paying themselves. Their business model wasn't working. Fortunately, they learned that after only one year in business and were able to make smarter decisions for the future. Bob,
Excellent article and important lesson. Too many people forget the most important part of business – being profitable. In our last Jackson Retail Success Academy class we opened the eyes of one small retailer who realized they were paying the landlord 4 times what they were paying themselves. Their business model wasn’t working. Fortunately, they learned that after only one year in business and were able to make smarter decisions for the future.

]]> By: bobphibbs http://www.retaildoc.com/blog/fbmanifesto/#comment-245 bobphibbs Fri, 14 Aug 2009 01:31:42 +0000 http://www.retaildoc.com/blog/?p=2695#comment-245 Thanks for the correction, will edit. Thanks for the correction, will edit.

]]> By: Former eBay Seller http://www.retaildoc.com/blog/fbmanifesto/#comment-244 Former eBay Seller Fri, 14 Aug 2009 01:26:16 +0000 http://www.retaildoc.com/blog/?p=2695#comment-244 Nice article. One little correction: It wasn't John Donahoe who thought up eBay (he's actually nearly destroyed it) -- it was Pierre Omidyar (see http://en.wikipedia.org/wiki/Ebay#Origins_and_history for details). Nice article. One little correction: It wasn’t John Donahoe who thought up eBay (he’s actually nearly destroyed it) — it was Pierre Omidyar (see http://en.wikipedia.org/wiki/Ebay#Origins_and_history for details).

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