Retail Success Quotes

I am happy for Amazon.com's success. As one of the first indie Authors who published on Amazon and was featured as their Author Success Story, I should think so! So should Amazon be happy for the successes of their Author Success Stories for their continued successes reflect on Amazon's continued nurturance and support for Indie Authors and the very ones who helped them win the standards battle over other ebook retailers.

For my whole career in retail, I have stuck by one guiding principle. It’s a simple one, and I have repeated it over and over and over in this book until I’m sure you’re sick to death of it. But I’m going to say it again anyway: the secret of successful retailing is to give your customers what they want.

As an old-time small-town merchant, I can tell you that nobody has more love for the heyday of the smalltown retailing era than I do. That’s one of the reasons we chose to put our little Wal-Mart museum on the square in Bentonville. It’s in the old Walton’s Five and Dime building, and it tries to capture a little bit of the old dime store feel. But I can also tell you this: if we had gotten smug about our early success, and said, “Well, we’re the best merchant in town,” and just kept doing everything exactly the way we were doing it, somebody else would have come along and given our customers what they wanted, and we would be out of business today.

Karma is real.

To succeed in retail, you have to love it. The process of bringing items in, displaying them attractively, and seeing them miraculously change into actual cash in the drawer has to get your blood racing.

Is it weird that when I see a cool t shirt or pick up a toothbrush or see a new car I don't think about the product itself? I think about the thousands of people and dollars to make it. I think about how the retailer that took the risk to buy and resell it. Then I work backwards to the store costs, the distributer who got it there, the shipping company that brought it over from China, the factory workers that made it, the people that sourced the materials and the people that harvested the raw materials, and on and on.. . The global economy is amazing. Your $20 t-shirt is a freaking miracle.

We are too easily satisfied with conventional success: bodies, bucks, and buildings. The average Christian resides in the comfort zone of “I pay the pastor to preach, administrate, and counsel. I pay him, he ministers to me. . . . I am the consumer, he is the retailer. . . . I have the needs, he meets them. . . . That’s what I pay for.

All the recent marketing successes have been PR successes, not advertising successes. To name a few: Starbucks, The Body Shop, Amazon.com, Yahoo!, eBay, Palm, Google, Linus, PlayStation, Harry Potter, Botox, Red Bull, Microsoft, Intel, and BlackBerry. A closer look at the history of most major brands shows this to be true. As a matter of fact, an astonishing number of well-known brands have been built with virtually no advertising at all. Anita Roddick built The Body Shop into a worldwide brand without any advertising. Instead she traveled the world looking for ingredients for her natural cosmetics, a quest that resulted in endless publicity. Until recently Starbucks didn’t spend a hill of beans on advertising either. In its first ten years, the company spent less that $10 million (total) on advertising in the United States, a trivial amount for a brand that delivers annual sales of $1.3 billion today. Wal-Mart became the world’s largest retailer, ringing up sales approaching $200 billion, with little advertising. Sam’s Club, a Wal-Mart sibling, averages $56 million per store with almost no advertising. In the pharmaceutical field, Viagra, Prozac, and Vioxx became worldwide brands with almost no advertising. In the toy field, Beanie Babies, Tickle Me Elmo, and Pokémon became highly successful brands with almost no advertising. In the high-technology field, Oracle, Cisco, and SAP became multibillion-dollar companies (and multibillion-dollar brands) with almost no advertising.

COOKBOOK FOR THE MODERN HOUSEWIFE The cover was red with a subtle crosshatch pattern and distressed, the book's title stamped in black ink- all of it faded with age. Bordering the cookbook's cover were hints of what could be found inside. Alice tilted her head as she read across, down, across, and up the cover's edges. Rolls. Pies. Luncheon. Drinks. Jams. Jellies. Poultry. Soup. Pickles. 725 Tested Recipes. Resting the spine on her bent knees, the cookbook dense yet fragile in her hands, Alice opened it carefully. There was an inscription on the inside cover. Elsie Swann, 1940. Going through the first few, age-yellowed pages, Alice glanced at charts for what constituted a balanced diet in those days: milk products, citrus fruits, green and yellow vegetables, breads and cereals, meat and eggs, the addition of a fish liver oil, particularly for children. Across from it, a page of tips for housewives to avoid being overwhelmed and advice for hosting successful dinner parties. Opening to a page near the back, Alice found another chart, this one titled Standard Retail Beef Cutting Chart, a picture of a cow divided by type of meat, mini drawings of everything from a porterhouse-steak cut to the disgusting-sounding "rolled neck." Through the middle were recipes for Pork Pie, Jellied Tongue, Meat Loaf with Oatmeal, and something called Porcupines- ground beef and rice balls, simmered for an hour in tomato soup and definitely something Alice never wanted to try- and plenty of notes written in faded cursive beside some of the recipes. Comments like Eleanor's 13th birthday-delicious! and Good for digestion and Add extra butter. Whoever this Elsie Swann was, she had clearly used the cookbook regularly. The pages were polka-dotted in brown splatters and drips, evidence it had not sat forgotten on a shelf the way cookbooks would in Alice's kitchen.

If Bezos took one leadership principle most to heart—which would also come to define the next half decade at Amazon—it was principal #8, “think big”: Thinking small is a self-fulfilling prophecy. Leaders create and communicate a bold direction that inspires results. They think differently and look around corners for ways to serve customers. In 2010, Amazon was a successful online retailer, a nascent cloud provider, and a pioneer in digital reading. But Bezos envisioned it as much more. His shareholder letter that year was a paean to the esoteric computer science disciplines of artificial intelligence and machine learning that Amazon was just beginning to explore. It opened by citing a list of impossibly obscure terms such as “naïve Bayesian estimators,” “gossip protocols,” and “data sharding.” Bezos wrote: “Invention is in our DNA and technology is the fundamental tool we wield to evolve and improve every aspect of the experience we provide our customers.

Qualities such as honesty, determination, and a cheerful acceptance of stress, which can all be identified through probing questionnaires and interviews, may be more important to the company in the long run than one's college grade-point average or years of "related experience." Every business is only as good as the people it brings into the organization. The corporate trainer should feel his job is the most important in the company, because it is. Exalt seniority-publicly, shamelessly, and with enough fanfare to raise goosebumps on the flesh of the most cynical spectator. And, after the ceremony, there should be some sort of permanent display so that employees passing by are continuously reminded of their own achievements and the achievements of others. The manager must freely share his expertise-not only about company procedures and products and services but also with regard to the supervisory skills he has worked so hard to acquire. If his attitude is, "Let them go out and get their own MBAs," the personnel under his authority will never have the full benefit of his experience. Without it, they will perform at a lower standard than is possible, jeopardizing the manager's own success. Should a CEO proclaim that there is no higher calling than being an employee of his organization? Perhaps not-for fear of being misunderstood-but it's certainly all right to think it. In fact, a CEO who does not feel this way should look for another company to manage-one that actually does contribute toward a better life for all. Every corporate leader should communicate to his workforce that its efforts are important and that employees should be very proud of what they do-for the company, for themselves, and, literally, for the world. If any employee is embarrassed to tell his friends what he does for a living, there has been a failure of leadership at his workplace. Loyalty is not demanded; it is created. Why can't a CEO put out his own suggested reading list to reinforce the corporate vision and core values? An attractive display at every employee lounge of books to be freely borrowed, or purchased, will generate interest and participation. Of course, the program has to be purely voluntary, but many employees will wish to be conversant with the material others are talking about. The books will be another point of contact between individuals, who might find themselves conversing on topics other than the weekend football games. By simply distributing the list and displaying the books prominently, the CEO will set into motion a chain of events that can greatly benefit the workplace. For a very cost-effective investment, management will have yet another way to strengthen the corporate message. The very existence of many companies hangs not on the decisions of their visionary CEOs and energetic managers but on the behavior of its receptionists, retail clerks, delivery drivers, and service personnel. The manager must put himself and his people through progressively challenging courage-building experiences. He must make these a mandatory group experience, and he must lead the way. People who have confronted the fear of public speaking, and have learned to master it, find that their new confidence manifests itself in every other facet of the professional and personal lives. Managers who hold weekly meetings in which everyone takes on progressively more difficult speaking or presentation assignments will see personalities revolutionized before their eyes. Command from a forward position, which means from the thick of it. No soldier will ever be inspired to advance into a hail of bullets by orders phoned in on the radio from the safety of a remote command post; he is inspired to follow the officer in front of him. It is much more effective to get your personnel to follow you than to push them forward from behind a desk. The more important the mission, the more important it is to be at the front.

mark-down, which discounts the selling price to customers and, so long as demand is ‘elastic’, results in increased sales of the product line. However, this is an expensive method of selling products, as it reduces the profit achieved on the products. In fact mark-down is the single largest cost to a fashion retail business after the cost of the products themselves. It is worth remembering at this point that the main – and frequently only – source of income for a fashion retailer is the profit from the sales of its products. Less profit per garment means less income to pay its bills. Furthermore, this tactic is less effective when general trading conditions are poor, as the competition is usually doing the same thing. It is vital then that the fashion retailer knows what its customers want and are expecting. Problems in defining and then keeping up with changing customer needs and expectations are arguably the most important factor in successful selling. Large retail businesses like Marks & Spencer

Spare a thought in 2013, this horrible horrible time to be alive, for the satirist. To satirise the self-satirising effluence that passes for populist entertainment and the pathetic vanity of a self-deifying movie industry is no mean feat in an age comfortable in its metameta cage. Being born into a system that values success, usually financial, above everything else, into an essentially worthless and spoiled world of governments happy to toss art aside in favour of financial dominance and petty power, gives the writer a subject, but limited maneuverability in his approach. To merry heck with the leaders who close libraries, theatres and community centres in favour of opening more retail opportunities and call centres to slowly mind-melt the populace. Fuck these zoot-suited capitalist cockslingers with their pus-filled polyps for souls. Because the only respite from the failed system in this failed First World is through literature—not through the ideologues, rhetoricians or motivational yammerers, but through the wonderous drug of fiction.

People, especially those in charge, rarely invite you into their offices and give freely of their time. Instead, you have to do something unique, compelling, even funny or a bit daring, to earn it. Even if you happen to be an exceptionally well-rounded person who possesses all of the scrappy qualities discussed so far, it’s still important to be prepared, dig deep, do the prep work, and think on your feet. Harry Gordon Selfridge, who founded the London-based department store Selfridges, knew the value of doing his homework. Selfridge, an American from Chicago, traveled to London in 1906 with the hope of building his “dream store.” He did just that in 1909, and more than a century later, his stores continue to serve customers in London, Manchester, and Birmingham. Selfridges’ success and staying power is rooted in the scrappy efforts of Harry Selfridge himself, a creative marketer who exhibited “a revolutionary understanding of publicity and the theatre of retail,” as he is described on the Selfridges’ Web site. His department store was known for creating events to attract special clientele, engaging shoppers in a way other retailers had never done before, catering to the holidays, adapting to cultural trends, and changing with the times and political movements such as the suffragists. Selfridge was noted to have said, “People will sit up and take notice of you if you will sit up and take notice of what makes them sit up and take notice.” How do you get people to take notice? How do you stand out in a positive way in order to make things happen? The curiosity and imagination Selfridge employed to successfully build his retail stores can be just as valuable for you to embrace in your circumstances. Perhaps you have landed a meeting, interview, or a quick coffee date with a key decision maker at a company that has sparked your interest. To maximize the impression you’re going to make, you have to know your audience. That means you must respectfully learn what you can about the person, their industry, or the culture of their organization. In fact, it pays to become familiar not only with the person’s current position but also their background, philosophies, triumphs, failures, and major breakthroughs. With that information in hand, you are less likely to waste the precious time you have and more likely to engage in genuine and meaningful conversation.

THE GLOBE | Unlocking the Wealth in Rural Markets Mamta Kapur, Sanjay Dawar, and Vineet R. Ahuja | 151 words In India and other large emerging economies, rural markets hold great promise for boosting corporate earnings. Companies that sell in the countryside, however, face poor infrastructure, widely dispersed customers, and other challenges. To better understand the obstacles and how to overcome them, the authors—researchers with Accenture—conducted extensive surveys and interviews with Indian business leaders in multiple industries. Their three-year study revealed several successful strategies for increasing revenues and profits in rural markets: Start with a good distribution plan. The most effective approaches are multipronged—for example, adding extra layers to existing networks and engaging local partners to create new ones. Mine data to identify prospective customers. Combining site visits, market surveys, and GIS mapping can help companies discover new buyers. Forge tight bonds with channel partners. It pays to spend time and money helping distributors and retailers improve their operations. Create durable ties with customers. Companies can build loyalty by addressing customers’ welfare and winning the trust of community leaders.

In the past underwhelming products could survive and thrive merely on distribution alone. A bad product, backed by a large television campaign and retail distribution, could find growth and profits for the company, regardless of quality. This is no longer the case. Today, mediocre products can still be launched in this way, but their longevity and returns quickly crash as word of mouth spreads and demand dries up faster than ever before.

They also understand that a store with no documented procedures is very hard to sell when it comes time—and someday it will.

Good companies like good products have instruction manuals.

Most people don’t buy products because they need them. They buy them because those products make them happy. As a retailer, your job is not to sell products. Your job is to make a difference in your customers’ lives by helping them make the right choices.

Direct mail and online marketing have proven to be the most effective for reaching these demographic groups.

Another common strategy used by convenience stores is to sell a cup of coffee in a store brand cup and offer refills at a considerably reduced price if you bring

Don’t ever design your store with the idea of just beating the competition on price.

As a small store owner, you’ll be living, sleeping, and breathing your business—if you don’t enjoy what you are doing, your chances for success will be very low.

merchandising romance.

One of the things that I think is true of very successful retailers is that their joy is in creating, not maintaining.

Retailers must do a little bit of everything today. They need to wear many different hats—a business strategist, a store designer, a marketer, a merchandiser, a buyer, a financial wiz, a personnel officer, a coach, a trainer, and anything else that comes about when you run your own

Bricks and clicks,” stores with websites, are the most successful retailers today.

These loyal customers cost us less to maintain. They produce high margins and we make more money from them.

According to various studies, only about 30 percent of businesses in the United States survive past their fifth year.

Another demographic change is the gay market, which is “going mainstream” and exploding.

While most consumers say that they would choose a green product over less environmentally friendly options, they would only do it if the price difference is not significant.

One of the best types of groups you can join is a buying group. Retailers organize as a group to buy from manufacturers.

What You Can Imagine, You Can Achieve

The Bear Necessities of Business: Building a Company with Heart by Maxine Clark and Amy Joyner published by Wiley in 2006.

The typical industry approach is [retailers] to treat vendors like the enemy... If vendors can't make a profit then they don't have money to invest in research and development, which in turn means that the products they bring to the market will be less inspiring to customers, which in turn detriments the retailer's business because customers aren't inspired to buy. People want to cut costs and negotiate aggressively because there's a limited amount of profit to be shared by both sides. As a result of this "death spiral", most retailers fail.

Experimentation also proved serendipitous for Greg Koch and Steve Wagner, when they were putting together the Stone Brewing Co. in Escondido, California, north of San Diego. It was destined to become one of the most successful brewing startups of the 1990s. In The Craft of Stone Brewing Co. Koch and Wagner confess that the home-brewed ale that became Arrogant Bastard Ale and propelled Stone to fame in the craft brewing world, started with a mistake. Greg Koch recalls that Wagner exclaimed “Aw, hell!” as he brewed an ale on his brand spanking new home-brewing system. “I miscalculated and added the ingredients in the wrong percentages,” he told Koch. “And not just a little. There’s a lot of extra malt and hops in there.” Koch recalls suggesting they dump it, but Wagner decided to let it ferment and see what it tasted like. Greg Koch and Steve Wagner, founders of Stone Brewery. Photograph © Stone Brewing Co. They both loved the resulting hops bomb, but they didn’t know what to do with it. Koch was sure that nobody was “going to be able to handle it. I mean, we both loved it, but it was unlike anything else that was out there. We weren’t sure what we were going to do with it, but we knew we had to do something with it somewhere down the road.”20 Koch said the beer literally introduced itself as Arrogant Bastard Ale. It seemed ironic to me that a beer from southern California, the world of laid back surfers, should produce an ale with a name that many would identify with New York City. But such are the ironies of the craft brewing revolution. Arrogant Bastard was relegated to the closet for the first year of Stone Brewing Co.’s existence. The founders figured their more commercial brew would be Stone Pale Ale, but its first-year sales figures were not strong, and the company’s board of directors decided to release Arrogant Bastard. “They thought it would help us have more of a billboard effect; with more Stone bottles next to each other on a retail shelf, they become that much more visible, and it sends a message that we’re a respected, established brewery with a diverse range of beers,” Wagner writes. Once they decided to release the Arrogant Bastard, they decided to go all out. The copy on the back label of Arrogant Bastard has become famous in the beer world: Arrogant Bastard Ale Ar-ro-gance (ar’ogans) n. The act or quality of being arrogant; haughty; Undue assumption; overbearing conceit. This is an aggressive ale. You probably won’t like it. It is quite doubtful that you have the taste or sophistication to be able to appreciate an ale of this quality and depth. We would suggest that you stick to safer and more familiar territory—maybe something with a multi-million dollar ad campaign aimed at convincing you it’s made in a little brewery, or one that implies that their tasteless fizzy yellow beverage will give you more sex appeal. The label continues along these lines for a couple of hundred words. Some call it a brilliant piece of reverse psychology. But Koch insists he was just listening to the beer that had emerged from a mistake in Wagner’s kitchen. In addition to innovative beers and marketing, Koch and Wagner have also made their San Diego brewery a tourist destination, with the Stone Brewing Bistro & Gardens, with plans to add a hotel to the Stone empire.

Smith in his book and with his life is telling us how to live. Seek wisdom and virtue. Behave as if an impartial spectator is watching you. Use the idea of an impartial spectator to step outside yourself and see yourself as others see you. Use that vision to know yourself. Avoid the seductions of money and fame, for they will never satisfy. How to be virtuous is not so obvious, and that comes next. But I want to close this chapter with Peter Buffett, the man who ended up selling his Berkshire Hathaway stock for $90,000 and giving up the $100 million he could have had in order to pursue a career as a musician. A few years ago, Peter Buffett reflected on his decision to sell his Berkshire Hathaway stock to pursue his dreams in his memoir, Life Is What You Make It. He claims to have no regrets. But could a life as a successful musician possibly be worth giving up $100 million? Wouldn’t $100 million be even more pleasant? Then you ask yourself—what could he have with the extra millions? A nicer car? He could have a Lamborghini Veneno Roadster that retails for about $4 million. Or he could settle for the lovely Ferrari Spider, at $300,000; he could have a couple of those. He could have a mansion you and I can only imagine, anywhere in the world. Like Onassis, he could own an island or two rather than enduring the indignity of visiting an island in the Mediterranean, say, and having to share it with others while staying at a nice hotel. Could those physical pleasures possibly be worth sacrificing the life in music that he dreamed of and ultimately achieved? I think Peter Buffett got a bargain. He gave up $100 million and got something—hard as it is to imagine—that was even more precious. A good life. I think Adam Smith would agree with me.

There's really no such thing as an overnight success. It takes time, and undoubtedly there will be a lot of No's along the way. “No” is never the end of the story in the business world. “No” is merely an obstacle in the road to maneuver around. As entrepreneurial legend Lillian Vernon, CEO and founder of Lillian Vernon Corporation, a leading national catalog and online retailer, said, “You must have a vision and passion. You must persevere. You must be optimistic, and you must never give up.

At its zenith Sears accounted for more than 2 percent of all retail sales in the United States. It pioneered several innovations critical to the success of today’s most admired retailers: for example, supply chain management, store brands, catalogue retailing, and credit card sales. The esteem in which Sears’ management was held shows in this 1964 excerpt from Fortune: “How did Sears do it? In a way, the most arresting aspect of its story is that there was no gimmick. Sears opened no big bag of tricks, shot off no skyrockets. Instead, it looked as though everybody in its organization simply did the right thing, easily and naturally. And their cumulative effect was to create an extraordinary powerhouse of a company.

Retail advertising is characterized by four main aspects: Creating an image of the shop Establishing its location Variety or special kind of goods offered, and Competitive price offers The

The objectives that retail advertisers design to communicate their brand to the target market are slightly different from consumer advertising objectives. It is primarily inclusive of establishing brand awareness about the retail outlet amongst the general public. Once the awareness has been established, the creation of understanding of store products and services becomes the second most important objective.    Next in line is the art of convincing consumers about the ability of the retail outlet to meet their respective product / service needs. While designing these objectives, the objective that should drive all these previously mentioned goals is the objective of prompting out a buying behavior from the target market. Lastly, the retail advertiser should also strive to establish customer loyalty for the retail brand that would lead to further visits and hence greater business.

Functions of advertising To differentiate the product from their competitors To communicate product information To urge product used To expand the product distribution Too increase brand preference and loyalty To reduce overall sales cost Creates new demands

Learning to fail is an important part of success.  I’d like everyone reading this to fail at something.  Get out there and try the impossible.  Set your sights high and do something that you’re almost certain is beyond your skill level.  Call the girl.  Meet with a millionaire.  Pitch your art project to a retail store.  Negotiate a large salary increase.  Push yourself to accomplish something enormous.  You may fail a hundred times.  But it only takes one success to completely change your life.

In the late 1990s, Parachute was the market leader with more than 50 per cent market share. Fresh from its success in taking market share in toothpaste away from Colgate using Pepsodent, HUL entered the coconut oil category to take on Marico. Dadiseth, the then chairman of HUL, had warned Mariwala to sell Marico to HUL or face dire consequences. Mariwala decided to take on the challenge. Even the capital markets believed that Marico stood no chance against the might of HUL which resulted in Marico’s price-to-earnings ratio dipping to as low as 7x, as against 13x during its listing in 1996. As part of its plans to take on Marico, HUL relaunched Nihar in 1998, acquired Cococare from Redcon and positioned both brands as price challengers to Parachute. In addition, HUL also increased advertising and promotion spends for its brands. In one quarter in FY2000, HUL’s advertising and promotional (A&P) spend on coconut oil alone was an amount which was almost equivalent to Marico’s full year A&P budget (around Rs 30 crore). As Milind Sarwate, former CFO of Marico, recalls, ‘Marico’s response was typically entrepreneurial and desi. We quickly realized that we have our key resource engine under threat. So, we re-prioritized and focused entirely on Parachute. We gave the project a war flavour. For example, the business conference on this issue saw Mariconians dressed as soldiers. The project was called operation Parachute ki Kasam. The leadership galvanized the whole team. It was exhilarating as the team realized the gravity of the situation and sprang into action. We were able to recover lost ground and turn the tables, so much so that eventually Marico acquired the aggressor brand, Nihar.’ Marico retaliated by relaunching Parachute: (a) with a new packaging; (b) with a new tag line highlighting its purity (Shuddhata ki Seal—or the seal of purity); (c) by widening its distribution; and (d) by launching an internal sales force initiative. Within twelve months, Parachute regained its lost share, thus limiting HUL’s growth. Despite several relaunches, Nihar failed against Parachute. Eventually, HUL dropped the brand Nihar off its power brand list before selling it off to Marico in 2006. Since then, Parachute has been the undisputed leader in the coconut oil category. This leadership has ensured that when one visits the hair oil section in a retail store, about 80 per cent of the shelves are occupied by Marico-branded hair oil.

Low-end disruption has occurred several times in retailing.16 For example, full-service department stores had a business model that enabled them to turn inventories three times per year. They needed to earn 40 percent gross margins to make money within their cost structure. They therefore earned 40 percent three times each year, for a 120 percent annual return on capital invested in inventory (ROCII). In the 1960s, discount retailers such as Wal-Mart and Kmart attacked the low end of the department stores’ market—nationally branded hard goods such as paint, hardware, kitchen utensils, toys, and sporting goods—that were so familiar in use that they could sell themselves. Customers in this tier of the market were overserved by department stores, in that they did not need well-trained floor sales-people to help them get what they needed. The discounters’ business model enabled them to make money at gross margins of about 23 percent, on average. Their stocking policies and operating processes enabled them to turn inventories more than five times annually, so that they also earned about 120 percent annual ROCII. The discounters did not accept lower levels of profitability—their business model simply earned acceptable profit through a different formula.17

Wildly Popular House Buying Strategy In A Competitive Environment It is important for the success of any real estate consulting company to have customers who are happy with their services. Customers who are unhappy with your real estate services business will stop buying your goods and will supply your business with a bad name. To guarantee that your business receives positive reviews, be certain to give your customers the best quality service. We've great ideas about how to create potential customers and keeping current ones satisfied. Each new employee you bring into your real estate services business could have long-lasting repercussions, so choose them carefully. Prior to inviting someone to join you, be certain that he or she's going to be capable of performing the duties the job will require, and that he or she's certified in any way needed. Whenever a new employee joins your business, you should see that they receive thorough training and could complete the tasks assigned to them. Successful companies have happy staff members that need to help you succeed; they tend to be the product of ongoing training. A real estate services business that hopes to be competitive in today's business world should have a professionally designed website. As a responsible business owner, you have to hire a professional website designer to build your site if you don't have the necessary skills to do it yourself. The appearance of your website is vital to its success, so be sure to use visually appealing templates and images that support your content. Never discount the importance of virtual retailing to your real estate consulting company's success; today's business climate requires that all companies establish and maintain a strong and authoritative web presence. Don't give in to complacency, even though your real estate consulting company is doing well. House buying experts universally believe that the very best time to expand your company is when you are gaining momentum. When you have dedication to the project, you could build a successful company. If your company could learn to embrace changes in the marketplace and always strive for something better, you will get through a lot of tough times.

The same year we also acquired Financial Network Services (FNS), an Australian company with a retail banking software package called Bancs24. We needed them because some of our competitors had begun to target that market segment with their own IP. Bancs24 was a very comprehensive package and we were able to successfully win the systems integration contract for the State Bank of India (SBI) Group for implementation of core banking. Since we had invested considerable effort in customizing and strengthening it we felt acquiring FNS would be strategic for our products business. During our initial dealings with FNS and its feisty owner Tony Ward we learned to our surprise that when the product was being developed in the early 1980s TCS had deputed its programmers to Sydney to work with Tony and his team to help develop the product. Since the acquisition we have been able to deploy the FNS software package, rechristened ‘Bancs’, extensively with a number of domestic clients. Today close to 50 per cent of the banking transactions in India are processed by Bancs, thereby justifying the acquisition we made.

The Jews have been victim to a general envy by the unsuccessful for the successful. Forced out of their homeland 2,000 years ago by Roman oppression, they spread across Europe and prospered spectacularly in many places, including Vienna and Berlin, till Hitler took over. Joseph Epstein tells us that in the ‘Vienna of 1936, a city that was 90 per cent Catholic and 9 per cent Jewish, Jews accounted for 60 per cent of the city’s lawyers, more than half its physicians, more than 90 per cent of its advertising executives, and 123 of its 174 newspaper editors. And this is not to mention the prominent places Jews held in banking, retailing, and intellectual and artistic life. The numbers four or five years earlier for Berlin are said to have been roughly similar.’61 Is it surprising that Nazism had its greatest resonance in these two cities? Before killing the Jews, Germans and Austrians felt the need to humiliate their victims: ‘They had Jewish women cleaning floors, had Jewish physicians scrubbing the cobblestone streets of Vienna with toothbrushes as Nazi youth urinated on them and forced elderly Jews to do hundreds of deep knee bends until they fainted or sometimes died. All this suggests a vicious evening of the score that has the ugly imprint of envy on the loose. The Jews in Germany and Austria had succeeded not only beyond their numbers but also, in the eyes of the envious,

A more contemporary example is COVID-19. It’s too soon know the full extent of its impact, but a number of businesses, including retailers, airlines, hotels, universities, and commercial real estate properties, which may have previously considered themselves “unsinkable,” will be “sunk” by a tiny virus. To avoid a similar fate in the future, every business must understand that resilience is often as important as efficiency and profits, and that long-term viability isn’t always defined by financial success—sometimes it is defined by the ability to survive.

While making inexpensive furniture may be what IKEA does prac- tically, the vision of “creating a better everyday life” for people has emotional resonance we can rally behind. These are the words of a movement, and I would argue that without them, Ikea would be much less successful. Combine commitment to a meaningful purpose with flawless execution and it makes the difference between the world’s largest furniture retailer and a local purveyor of cheap junk.

The odds of success (surviving and reestablishing a profitable trajectory) in redefinition are extremely low, less than one in ten. The exceptions—such as Marvel Entertainment (from comics to movies), IBM (from hardware to services and software), and De Beers (from mining to consumer focus and retail)—were able to rebuild their core model around “hidden assets,” deep strengths in the core business that had not been previously utilized.

Another thing you need to understand is what we now call the “core competencies” of your organization. What are we really good at? What do our customers pay us for? Why do they buy from us? In a competitive, nonmonopolistic market—and that is what the world has become—there is absolutely no reason why a customer should buy from you rather from your competitor. None. He pays you because you give him something that is of value to him. What is it that we get paid for? You may think this is a simple question. It is not. I have been working with some of the world’s biggest manufacturers, producers, and distributors of packaged consumer goods. All of you use their products, even in Slovenia. They have two kinds of customers. One, of course, is the retailer. The other is the housewife. What do they pay for? I have been asking this question for a year now. I do not know how many companies in the world make soap, but there are a great many. And I can’t tell the difference between one kind of soap or the other. And why does the buyer have a preference—and a strong one, by the way? What does it do for her? Why is she willing to buy from one manufacturer when on the same shelves in the United States or in Japan or in Germany they are soaps from other companies? She usually does not even look at them. She reaches out for that one soap. Why? What does she see? What does she want? Try to work on this. Incidentally, the best way to find out is to ask customers not by questionnaire but by sitting down with them and finding out. The most successful retailer I know in the world is not one of the big retail chains. It is somebody in Ireland, a small country about the size of Slovenia. This particular company is next door to Great Britain with its very powerful supermarkets, and all of them are also in Ireland. And yet this little company has maybe 60 percent of the sandwich market. What do they do? Well, the answer is that the boss spends two days each week in one of his stores serving customers, from the meat counter to the checkout counter, and is the one who puts stuff into bags and carries it out to the shoppers’ automobiles. He knows what the customers pay for. But let me go back to the beginning: The place to start managing is not in the plant, and it is not in the office. You start with managing yourself by finding out your own strengths, by placing yourself where your strengths can produce results and making sure that you set the right example (which is basically what ethics is all about), and by placing your people where their strengths can produce results.

Thanks to the success of private label strategies (see Chapter 9), five of the top eight FMCG manufacturers in the world are actually retailers; giants such as Unilever and Coca-Cola are no longer even in the top ten, their global sales dwarfed by products under the names of Wal-Mart (now the world’s largest FMCG manufacturer), Carrefour, Tesco, Aldi and Lidl. The

The retailers’ discounter strategy is most successful and appropriate when there is share to be taken from smaller, less efficient competitors. Sam

consolidation, coupled with a desire among the survivors to restore normal profit levels, helps to usher in an era of orderly competition based on serving the variety of wants. In 1975, Carrefour became the first foreign retailer in Brazil. Through a period of aggressive mergers and acquisitions, they increased their market share and forced smaller competitors to leave or consolidate. In 1999, the largest national retailer, Companhia Brasileira de Distribuicao, merged with Casino Guichard Perrachon & Cie, to compete against the growing foreign chains, which now hold 40% of the market. The outcome has been a more orderly market where each is large and successful enough not to have to resort to permanent cut-throat price competition.

When Starbucks launched its instant coffee brand in Japan in April 2010, they invited customers to participate in a four-day taste challenge to see whether they could taste the different between Starbucks VIA Coffee Essence (known as VIA Ready Brew everywhere else) and their fresh-brewed coffee. Over one million samples were given away at their 870 retail stores, and five months later more than 10 million sticks had been sold, making it one of their most successful new product launches. Starbucks

Procter & Gamble, America’s largest FMCG company, announced the acquisition of Gillette. Both companies had decades of success developing technologically advanced products and building enviable mindspace positions, yet these were no longer enough to guarantee their desired shelfspace. They realised the only way to compete with the retailers was to become big enough to matter to them.

Retail selling benefits from aggressive publicity.

You gotta do what you gotta do, to get to where you wanna go.

Consumers look for geographically convenient rooftops. In urban areas, there typically are three or four supermarkets for every three or four square miles just because there is a demand for that many. You try to put yourself in a “first right of refusal” position to as many conveniently located households as possible. The first right of refusal’s very important in our business, and that means that you drive by us either coming from work, going to work, or coming from home to anywhere you go. You have to drive by us to get to somebody else. We feel like if we have first right of refusal to, say, 60 percent of the geographically convenient trade, then if we get our fair share of that—and our fair share is the lion’s share—then that store has a chance to be successful

10/20/30 Rule in my book can level the playing field for a retail forex trader to trade alongside big banks and hedge funds.

Direct-sold retail funds can be great for investors, but sometimes they can work against the fund companies that market them. Throughout the recent bear market, advisor-sold funds did a better job in retaining their assets because financial advisors were able to prevent clients from selling in a panic. A little handholding goes a long way in convincing clients to ride out the turbulent markets.

5. Open space attracts! Shoppers compete with products for space in the store. Good retailers might be oblivious to this competition, and freely tip the balance in favor of the products over the shoppers. Jamming the store with products leads to lots of narrow aisles (“aisleness”) and psychic discomfort for shoppers. Great retailers refuse to sacrifice shopper space, and use wide promenades to lead crowds of shoppers through a speedy, efficient, high-dollar trip. The allocation of open space is of paramount importance in store design—and there is no single recipe for success.

how is it that almost all research is conducted in the test environment? It would seem to me that we would have some interest in the user environment, especially if there is a substantial difference in the assessment under the two perspectives. We don’t, after all, sell to the world’s testers but to users. It is they who dictate a brand’s success or failure. Actually, I like using both the tester and the user environment when assessing a brand’s potential. I generally prefer to use testers in the upstream research and, as I get closer to market, I use the user perspective. I have found that very few companies use the latter when assessing a brand’s potential. Why? I think that few companies realize that two perspectives exist. Among those who do, many don’t use the users because few field services offer both options, and it is perceived to be difficult and expensive

It is a strange fact that many people are always at home to the “blues.” Whenever a fit visits them, it seems to be welcome. They retail their miseries, go over and over their misfortunes, describe the symptoms of their suffering, their poverty, dwell upon all the hideous details, and tell everybody how cruel fate has been to them. They appear to have a morbid love for contemplating what has embittered their lives and hampered their progress. Thus they are always unconsciously etching these pictures of their thought enemies deeper and deeper into their character.

the secret of successful retailing is to give your customers what they want. And really, if you think about it from your point of view as a customer, you want everything: a wide assortment of good quality merchandise; the lowest possible prices; guaranteed satisfaction with what you buy; friendly, knowledgeable service; convenient hours; free parking; a pleasant shopping experience. You love it when you visit a store that somehow exceeds your expectations, and you hate it when a store inconveniences you, or gives you a hard time, or just pretends you’re invisible.

What we gave mostly was wine. Especially after we made this legal(!) by acquiring that Master Wine Grower’s license in 1973. Most requests were made by women (not men) who had been drafted by their respective organizations to somehow get wine for an event. We made a specialty of giving them a warm welcome from the first call. All we wanted was the organization’s 501c3 number, and from which store they wanted to pick it up. We wanted to make that woman, and her friends, our customers. But we didn’t want credit in the program, as we knew the word would get out from that oh-so-grateful woman who had probably been turned down by six markets before she called us. Everybody wanted champagne. We firmly refused to donate it, because the federal excise tax on sparkling wine is so great compared with the tax on still wine. To relieve pressure on our managers, we finally centralized giving into the office. When I left Trader Joe’s, Pat St. John had set up a special Macintosh file just to handle the three hundred organizations to which we would donate in the course of a year. I charged all this to advertising. That’s what it was, and it was advertising of the most productive sort. Giving Space on Shopping Bags One of the most productive ways into the hearts of nonprofits was to print their programs on our shopping bags. Thus, each year, we printed the upcoming season for the Los Angeles Opera Co., or an upcoming exhibition at the Huntington Library, or the season for the San Diego Symphony, etc. Just printing this advertising material won us the support of all the members of the organization, and often made the season or the event a success. Our biggest problem was rationing the space on the shopping bags. All we wanted was camera-ready copy from the opera, symphony, museum, etc. This was a very effective way to build the core customers of Trader Joe’s. We even localized the bags, customizing them for the San Diego, Los Angeles, and San Francisco market areas. Several years after I left, Trader Joe’s abandoned the practice because it was just too complicated to administer after they expanded into Arizona, Washington, etc., and they no longer had my wife, Alice, running interference with the music and arts groups. This left an opportunity for small retailers in local areas, and I strongly recommended it to them. In 1994, while running the troubled Petrini’s Markets in San Francisco, I tried the same thing, again with success, for the San Francisco Ballet and a couple of museums.

Word of Mouth: the Power of True Believers As everyone knows, word of mouth is the most effective advertising of all. Or, when in my cups, I have been known to say that there’s no better business to run than a cult. Trader Joe’s became a cult of the overeducated and underpaid, partly because we deliberately tried to make it a cult once we got a handle on what we were actually doing, and partly because we kept the implicit promises with our clientele. I used to work every Thanksgiving Day in one of the stores. They only let me bag, because I had lost all my checker skills. One Thanksgiving, a woman came in and asked for bourbon. I told her that we had none, because we had not been able to make the right kind of deal (this was after the end of Fair Trade, when we were deep in the Mac the Knife mode). “That’s all right,” she exclaimed. “I know what you’re trying to do for us!” Note the us. There aren’t many cult retailers who successfully retain their cult status over a long period of time. A couple in California are In ’n Out Burger and Fry’s Electronics. But across America, in every town, there’s a particular donut shop, pizza parlor, bakery, greengrocer, bar, etc., that has a cult following of True Believers. The old Petrini’s of the 1950s and 1960s had that status when it came to meat. Brooks Bros had that status until the 1970s. S. S. Pierce in Boston was another. But all of them failed to keep the faith. Beware of ever betraying the True Believers! The fury of a woman scorned is nothing compared with that of a betrayed cultee.

I love seeing pop-up Ads as soon as I get up - said no one ever.

When you are writing content, remove everything that doesn't benefit customer.

Instead of counting followers, focus on what the community can achieve through what you are doing.

The only hero of your story is the customer, and you are the guide for a hero that is on the way to achieve fulfillment.

Good content always adds value to the reader's life.

The world is already full of content, only the digital strategy gives it meaning

Johnson was an experienced, highly successful retail executive, described by some press reports as “an industry icon” who “turns anything he touches to gold.

self-control, conscientiousness, and empathy. For successful retail store managers, the key competencies

SEO is equivalent to building your reputation in society. It takes significant time and patience to build it, while once built you will hold it for a long time.

The only hero of your story is a customer, and you are a guide for a hero that is on way to achieve fulfillment

I often counsel people to really understand if and how their business model creates customer need. You need to know if you’re going to be able to fulfill good economics per products sold, and if the overall business model is successful. A lot of the business plans that don’t work get created around settings where people are dissatisfied with status quo. They really don’t like having to pay fifteen percent to a distributor in order to get the product from the manufacturer to the retail outlet. But they don’t understand that just being unhappy with the status quo doesn’t mean you can rip the distributor out of the model and make it work. You have to make sure the model that you create has viability, so that every time you sell a product, you know how much money you are bringing in, and what the cost and scale is. It’s more about ‘How do I make money out of this?’ rather than ‘I wish the world in this area were different.

The reason that Omega was reluctant to embrace the electronic watch is as understandable as it was wrong. Mechanical engineering was the core capability of the Swiss watchmaking industry. Swiss watchmakers successfully sold high-end timepieces to a largely upmarket customer, usually through jewelry stores. Margins were high and volumes comparatively low. Brand was important. In contrast, electronic watches were a high-volume, low-margin product sold through a variety of retail outlets, including drugstores, often under little-known brand names. The core capabilities for the new product were about electronics and manufacturing, not precision engineering. Faced with a low-end product, senior managers balked and missed the opportunity that ultimately destroyed them. Could they have embraced both exploring and exploiting? Of course! This is what ultimately happened. But to do this would have required them to be ambidextrous and to run an organization with different alignments. In terms of the congruence model, it would have meant a different strategy, different key success factors, different people and skills, and a different organizational structure and culture—a radical shift that was seen as too much effort for what was expected to be a low-margin product. To

That trifecta—humanities, technology, business—is what has made him one of our era’s most successful and influential innovators. Like Steve Jobs, Bezos has transformed multiple industries. Amazon, the world’s largest online retailer, has changed how we shop and what we expect of shipping and deliveries. More than half of US households are members of Amazon Prime, and Amazon delivered ten billion packages in 2018, which is two billion more than the number of people on this planet. Amazon Web Services (AWS) provides cloud computing services and applications that enable start-ups and established companies to easily create new products and services, just as the iPhone App Store opened whole new pathways for business. Amazon’s Echo has created a new market for smart home speakers, and Amazon Studios is making hit TV shows and movies. Amazon is also poised to disrupt the health and pharmacy industries. At first its purchase of the Whole Foods Market chain was confounding, until it became apparent that the move could be a brilliant way to tie together the strands of a new Bezos business model, which involves retailing, online ordering, and superfast delivery, combined with physical outposts. Bezos is also building a private space company with the long-term goal of moving heavy industry to space, and he has become the owner of the Washington Post.

As in all branches of the retail trade, the key to success was skill at sales.

British-made domestic goods, vehicles, tools or weapons had for long been highly prized on foreign markets. But in the course of the 1930s and 1940s British producers had so successfully undermined their own standing in almost every commodity save men’s clothing that the only niche left to Britain’s retail merchants by the 1960s was high profile, low quality ‘trendy’ fads

The success of many women and second-generation immigrants entering positions as clerks, secretaries, and retail workers challenged some labor market inequalities and solidified the link between education and social mobility. Their entry, however, also sparked a reaction among a predominantly male, white, native-born elite. Upper-class Bostonians used professional strategies, relying on advanced educational credentials, to control access to the most remunerative jobs.

But I’m going to say it again anyway: the secret of successful retailing is to give your customers what they want. And really, if you think about it from your point of view as a customer, you want everything: a wide assortment of good quality merchandise; the lowest possible prices; guaranteed satisfaction with what you buy; friendly, knowledgeable service; convenient hours; free parking; a pleasant shopping experience.

Infinity Packaging Solutions specializes in Laminate Boxes, Setup Boxes, Chipboard Boxes and much more. Packaging solutions for all of your retail, industrial, and point of purchase packaging needs.Take advantage of our award-winning designers to create an impactful and successful packaging design for an existing product or a new product launch. We are the next and final step to seeing your product displayed on the shelves at the club stores, grocery, and retail chains.

since at least the early 1930s, workers’ private consumption in 1985 still remained far below that achieved in other (private) capitalist countries including even Spain, Portugal, and Turkey (Gregory and Stuart, 1998, 159). On the one hand, the state persisted in its commitment to heavy industry over the production of consumer goods and the associated heavy reliance on the turnover tax to absorb the excess demand for consumer goods. On the other hand, the inefficiencies and poor marketing skills of its underfunded retail organization further aggravated the privations of Soviet consumers. Dissatisfaction and long suppressed resentment turned to disenchantment with socialism and openly expressed anger as workers became aware of the gap between their individual consumption levels and those of workers in other countries. The state capitalist class structure—conceived to be socialist—seemed unable to secure for workers the rising standard of living it had long promised. This failure of socialism to deliver the desired appliances, television sets, and automobiles stood in sharp contrast to the stunning private consumption successes achieved by private capitalist economies with their ubiquitous private markets and property.

Overall, the success of a Treasury auction depends on investor demand. Institutional investors such as insurance companies, foreign central banks, hedge funds, money funds, states, municipalities, Savings and Loans, credit unions, pension funds, and small local banks are all major participants. Depending on who buys a certain Treasury determines how much supply is available in the Repo market. For example, if a large amount of the auction is purchased by securities dealers and hedge funds, there’s plenty of supply around the Repo market. Dealers and hedge funds are leveraged players who loan their securities into the Repo market to finance their purchases. That keeps those securities readily available in the market. If, on the other hand, a large amount is purchased by end-user portfolios, such as investors who are more retail and less sophisticated, then there’s less supply available in the Repo market.

Gilder G, 1996. The Moral Sources of Capitalism. In: Gerson M (ed.), The Essential Neo-Conservative Reader. Reading, Massachusetts: Addison-Wesley Publishing Co., pp. 151-159 Quoting page 154: The next step above potlatching was the use of real money. The invention of money enabled the pattern of giving to be extended as far as the reach of faith and trust from the mumi’s tribe to the world economy. Among the most important transitional devices was the Chinese Hui. This became the key mode of capital formation for the overseas Chinese in their phenomenal success as tradesmen and retailers everywhere they went, from San Francisco to Singapore. A more sophisticated and purposeful development of the potlatching principle, the Hui began when the organizer needed money for an investment. He would raise it from a group of kin and friends and commit himself to give a series of ten feasts for them. At each feast a similar amount of money would be convivially raised and given by lot or by secret bidding to one of the other members. The rotating distribution would continue until every member had won a collection. Similar systems, called the Ko or Tanamoshi, created saving for the Japanese; and the West African Susu device of the Yoruba, when transplanted to the West Indies, provided the capital base for Caribbean retailing. This mode of capital formation also emerged prosperously among West Indians when they migrated to American cities. All these arrangements required entrusting money or property to others and awaiting returns in the uncertain future.

Schmidt started 2012 with new, modern packaging for the deodorant, which was designed to set it apart from the competition. She looked beyond the direct-to-consumer sales channels and the natural and wellness retailers that her competitors used almost exclusively; in 2015, she expanded into traditional grocery stores and pharmacies, which allowed her to reach more customers and to enable greater access to healthy natural products. Her creativity, innovation, and hard work paid off. Schmidt earned appearances on Fox News and The Today Show; mentions on social media from celebrities and influencers; articles in national publications; and distribution on the shelves of Target and Walmart. Though it was bittersweet, Jaime realized that a larger company with more resources could bring her vision and mission to an even wider customer base, and she signed the deal with Unilever right before Christmas 2017. Reflecting on her journey, she says, “When I’m asked about what made Schmidt’s so successful, I often say that my customers were my business plan. It started when I listened to those at the farmer’s market, and it continued through each step of growth. Staying hyper-tuned-in to my customers always guided and served me.” Not sales. Not marketing. Customers, educating, and being educated.

ValUBooks is a Fortune 500 company with over a billion in assets, operating more than 1,000 successful retail outlets across the country, and employing over 30,000 people.

Plank isn’t an expert in fabrics or manufacturing, or even retail. He never played a down in the National Football League. He doesn’t hold a degree from an Ivy League school. He is a creator who has cracked the creator’s code. “What defines our brand is that there is this blue-collar, this walk-on mentality, that there is nothing that can stop me, there is nothing that can prevent me from moving forward to being successful,” Plank said as we walked across Under Armour’s campus in a gritty Baltimore neighborhood.

Have you ever seen someone buy a piece of furniture or clothing from New York, Chicago or London? Even though the exact same product was available right down the street at a local retailer for a fraction of the cost? This kind of phenomenon is referred to as ‘The expert from afar’ enticement that enraptures the naïve with the idea that things distant and far removed have more value because of the popularity of their location or the pedigree of the presenter. They often neglect to seek resources locally that offer the same product or practical wisdom, and do not employ the benefits of direct first hand observation to test the efficacy of what can be found close by within arm’s length. Instead they venture afar without looking at what is often right in front of them, invisible because of proximity. However, invisibility has its own value too. It allows one to carry on unnoticed, and go merrily about your own successful way.

Tesco’s success depends on their ability to replace manufacturer brands with their brands, which they have already achieved on 50% of their product listings. Retailers want to own mindspace because that is where the higher profits lie. To

Enrolling card holders gives a retailer the chance to find out more about its customer base (where they live, family composition, family income). By integrating this information with known purchasing behaviour, retailers are able to target direct marketing activities with a precision and success rate well above that of manufacturers. This gives retailers an information advantage that they have not had since the dawn of modern retailing.

Hoping to create a little prestige, some retailers develop and advertise premium clothes sub-brands. In 2006, Myer, one of Australia’s largest retailers, launched a fashion line by top designer Wayne Cooper, known as ‘Wayne by Wayne Cooper Collection’. In 2010, Tesco launched a high-end fashion range, F&F, following Asda, who have created the most successful retail clothing sub-brand, George, by well-known British designer George Davies, which is worth $1.6 billion and is being rolled out in Wal-Marts across North America.

David and Neil were MBA students at the Wharton School when the cash-strapped David lost his eyeglasses and had to pay $700 for replacements. That got them thinking: Could there be a better way? Neil had previously worked for a nonprofit, VisionSpring, that trained poor women in the developing world to start businesses offering eye exams and selling glasses that were affordable to people making less than four dollars a day. He had helped expand the nonprofit’s presence to ten countries, supporting thousands of female entrepreneurs and boosting the organization’s staff from two to thirty. At the time, it hadn’t occurred to Neil that an idea birthed in the nonprofit sector could be transferred to the private sector. But later at Wharton, as he and David considered entering the eyeglass business, after being shocked by the high cost of replacing David’s glasses, they decided they were out to build more than a company—they were on a social mission as well. They asked a simple question: Why had no one ever sold eyeglasses online? Well, because some believed it was impossible. For one thing, the eyeglass industry operated under a near monopoly that controlled the sales pipeline and price points. That these high prices would be passed on to consumers went unquestioned, even if that meant some people would go without glasses altogether. For another, people didn’t really want to buy a product as carefully calibrated and individualized as glasses online. Besides, how could an online company even work? David and Neil would have to be able to offer stylish frames, a perfect fit, and various options for prescriptions. With a $2,500 seed investment from Wharton’s Venture Initiation Program, David and Neil launched their company in 2010 with a selection of styles, a low price of $95, and a hip marketing program. (They named the company Warby Parker after two characters in a Jack Kerouac novel.) Within a month, they’d sold out all their stock and had a 20,000-person waiting list. Within a year, they’d received serious funding. They kept perfecting their concept, offering an innovative home try-on program, a collection of boutique retail outlets, and an eye test app for distance vision. Today Warby Parker is valued at $1.75 billion, with 1,400 employees and 65 retail stores. It’s no surprise that Neil and David continued to use Warby Parker’s success to deliver eyeglasses to those in need. The company’s Buy a Pair, Give a Pair program is unique: instead of simply providing free eyeglasses, Warby Parker trains and equips entrepreneurs in developing countries to sell the glasses they’re given. To date, 4 million pairs of glasses have been distributed through Warby Parker’s program. This dual commitment to inexpensive eyewear for all, paired with a program to improve access to eyewear for the global poor, makes Warby Parker an exemplary assumption-busting social enterprise.

Okay, a couple more: I happen to believe that economic success lies in the hands of SMEs, small and medium-sized enterprises. Four books I give away on SMEs are: George Whalin’s Retail Superstars: Inside the Twenty-five Best Independent Stores in America (Favorite line: “Be the best, it’s the only market that’s not crowded.”), Bo Burlingham’s Small Giants: Companies That Choose to Be Great Instead of Big, Bill Taylor’s Simply Brilliant: How Great Organizations Do Ordinary Things in Extraordinary Ways, and Hermann Simon’s Hidden Champions of the Twenty-first Century: The Success Strategies of Unknown World Market Leaders. I love giving books away! I bet,

It’s always the first rule of customer service. Make eye contact, smile, say hello. To EVERYONE: your fellow employees, customers, everyone connected with the extended community.

and you’re a good match.’ ‘You have a very precise memory.’ ‘It was yesterday.’ ‘I should have told you he keeps a mistress and ignores me.’ Reacher smiled. He said, ‘Good night, Mrs Mackenzie.’ She left him there, the same as the night before, alone in the dark, on the concrete bench, looking at the stars. At that moment a mile away, Stackley clicked off a phone call and parked his beat-up old pick-up truck in a lot behind an out-of-business retail enterprise three blocks from the centre of town. Earlier in his life he had favoured expensive haircuts, and one time when waiting in the salon he had read a magazine that said success in business depended entirely on ruthless control of costs. Thus wherever possible he slept in his truck. Hence the camper shell. A motel would take what he made on two pills. Why give it away? The old gal across the Snowy Range had bought a box of fentanyl patches, but he had given her one he had already opened, an hour before, very carefully, so he could skim out a patch all his own, for his pocket, for later. The old gal would never notice. If she did, she would assume she was too stoned to count right. A natural reaction. Addicts learned to blame themselves. The same the world over. He took scissors from his glove box, and he cut a quarter-inch strip off the patch, and he slipped it under his tongue. Sublingual, it was called. Another magazine in the same salon said it was the best method of all. Stackley couldn’t argue. At that moment sixty miles away, in the low hills west of town, Rose Sanderson was putting herself to bed. She had pulled down her hood, and taken off her silver track suit top. Under it was a T-shirt, which she took off, and a bra, likewise. She peeled the foil off her face. She used her toothbrush handle to scrape excess ointment off her skin. She buttered it back on the foil. With luck she might get one more day out of it. She ran her sink full of cool water. She took a breath, and held her face under the surface. Her record was four minutes. She came up and shook her head. Her