Month: February 2010

Price Wars: Does Anyone Win?

I teach a lot of Entrepreneurial classes and one question that is always asked during the session is “Should I reduce my price?”
Of course you can do anything you want, but is it really worth it to lower your prices? There was an article in USA Today in August of 2009 talking about the consequences of lowering prices to bring in business. In the short term it will certainly bring in customers if they want to buy. Long term, you will have to ask yourself, are these the “right” customers?

"Luck of the Draw" Isn't So Customer Service Oriented

I hate to complain about the airlines because it doesn’t make any sense. They have their rules and ideas about “how to run a railroad” and they’re not like mine. But I know you’ll love this one.
Two weeks ago I missed my connection from Detroit to Albany by one minute. I was the last one to get off the commuter plane and had five minutes to make the last flight to Albany. I was only about 10 gates away and was waving at the gate agent while she was yelling, “You missed it.”

Not Knowing the Trends Will Kill Your Business

Lately I’ve received many calls from panicked customers along the lines of what should I do with my business, I don’t think I can make it? This prompted me to reach back into my 30 year-old Rolodex to make some phone calls.
Thirty years ago I knew who to call. Yesterday I wasn’t so sure. Much to my surprise, the contacts hadn’t changed. Planned Furniture Promotions, an affiliate of Gene Rosenberg Associates, is very much in business. Since 1962 Gene Rosenberg Associates has been considered to be one of most professional and best known promotional specialists in the country. My contact this time was Burt Homonoff, Partner and Vice President of Operations. With so many furniture companies going out of business, the last ones that came to mind for me were Levitz and Wickes Furniture. From what I’ve read, Levitz, at the time of their closing, had 80 stores and had been in business for 100 years.

Look Mom, no Hands!

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