Some of these promotions are my own ideas, and some came from the Gambles headquarters. I have used many more, but those included here were the most successful. Feel free to use them to succeed in your own business.
In business you need a financial plan to succeed; without it you will fail. Approximately 75-85% of new businesses fail within the first two years, mostly because of lack of proper planning. Planning is vital to an existing business as well. Fiscal plans are necessities, and most businesses use them.
But equally as important are advertising and promotion plans. Without them you are just counting on the luck of the draw. Some customers will do business with you; some will go to the competition. Whether you are a newcomer to the business scene or an old hand, you have to give customers a reason to buy from you instead of your competition.
One sure way to help your competition is to put him down, knock his merchandise or deal underhandedly. You will then be doing his advertising for him and very effectively too! I know a woman who owned a hardware store. When asked how a new competitor would affect her business, she replied, “They are such nice people and I hope they do well”. Her customers kept coming back to her, and it wasn’t long before the other store went broke.
Be Willing to Work
If you think working for yourself is easy, you had better get out and start looking for another line of work. You will find yourself working 18 hours a day and worrying the other 6 while trying to sleep.
When I came out of the Navy, I thought I would buy a small cafe. I had all but $300 of the purchase price, so I went to the local banker for a loan. He asked me if I was willing to work 18 hours a day, 6 or 7 days a week. He also told me that there had been 6 or 7 previous owners of the cafe who had failed. He didn’t refuse my loan request. I withdrew it. If you plan to enter a business, find out the facts first, and get them from the right source. You don’t ask a diamond merchant about the grocery business. Using consultants can be helpful too. Advice isn’t free, but it is worth the extra cost.
Profits Are Yours
The material in this book is designed to help you either get started in business or get your business moving. So get reading, get planning and get going towards a more profitable future. If you don’t, you have already failed. You just don’t know it yet.