Category — CEO
Running a retail business is like getting your report card every single day. It is a business of “thanks for what you did for me yesterday, but what can you do for me today?” It has to be one of the most stressful occupations in this country, yet if you do well, it can be the most exhilarating and fun businesses to live and breathe every day. What causes this stress versus reward cycle in retailing?
Good retailers balance looking into the future and planning for the next season with what is happening in my business today. The future plays to the heart of retailers because you analyze what went well last year and where there are opportunities to improve. Optimism abounds about the future because retailers are a confident and hopeful bunch…otherwise they would be in a profession that looks to the past rather than looking ahead. So planning ahead is the enjoyable part of retailing, because no mistakes have been made, yet.
Living in your business today is a different story. Most businesses measure themselves against what happened last year in sales. Sure there are mitigating circumstances that could alter the numbers you are up against, like more or less competition, change in customers’ taste preferences or suppliers of your key products going in or out of business. But every retailer has last year’s numbers recorded by day and look at these numbers three or four times a day during their peak seasons to see if they are going to beat them. Take my business as an example. Our two peak seasons are Back to School and Christmas. Currently we are in our Back to School season. Our staff meets quickly throughout the day to gauge where we are against last year each day. When we had the biggest day in our company’s history last week, it was the greatest feeling I have had since the day my son was born. When we only did half of what we did last year three days later, I felt like an old man who was on his way to retirement… so living each day in business to its fullest during peak seasons is like riding a roller coaster all day long. You are exhausted at the end of the day on bad days and exhilarated and can’t wait to wake up and start again on the good days.
We will get through the Back to School season, so now I am worried about the Christmas season. Do we have enough products to offer our customers and as important, are they the right products? Have we been watching the trends of the last few months to help give us an indication of what will be successful this fall? Do we have the most sophisticated methods to market to our customers efficiently and effectively during the holiday season? Do I have the right sales staff in place that will be able to relate to our customers? All of these are questions that will keep my staff and me up at night, because they are the unknowns…and then November hits and we are right back into the cycle of living day to day with our numbers much like we are in today for Back to School.
But I would not have it any other way. The ebb and flow of providing customers what they need when they need it at the right price is part of a true retailer’s heart and soul. The highs and lows that go with it are just part of the game of life.
July 18, 2014 No Comments
Mary Jane Coward of Dillion, SC
Teresa Riddle of Clayton, NC
Ann Welch of Ludington, MI
Mary Shariat of Mobile, AL
Each of the above nominees won 25 backpacks stuffed with school supplies in our June Facebook Giveaway.
Thank you to the THOUSANDS of people who took the time to nominate teachers to help their students.
DollarDays is absolutely committed to helping teachers. We are a strong advocate of education and helping our teachers (who we call heroes) have the tools they need to teach and grow our future leaders. Marc Joseph, our CEO, wrote a thoughtful article on education in the Huffington Post that we hope you’ll read. We truly ARE champions of education.
This month, we are giving ten teachers each $500 to spend at DollarDays to help stock their classrooms! Please nominate a teacher on our Facebook page contest.
July 2, 2014 No Comments
Some of you know that DollarDays’ CEO, Marc Joseph, authored the book, The Secrets of Retailing or How to Beat Wal-Mart! to help small businesses compete in the world of big box stores. In fact, DollarDays.com has a wealth of Marc Joseph’s business and entrepreneurial articles, focusing on small businesses for you to enjoy.
But this time, Marc didn’t do the writing; he was interviewed by Success Magazine for an article they titled “Want to write a book? Our step by step guide.” Marc gave his candid advice for wannabe authors including how writing a book can ultimately help your business. You can read the article here.
March 24, 2014 No Comments
In the United States, one in five children live in a household with not enough food to eat. Feeding America reports that 15.9 million kids under the age of 18 live in this condition where they are unable to consistently access nutritious and adequate amounts of food necessary for a healthy life. Last month Congress passed a sweeping that cut an additional $8.6 billion from food stamps (SNAP, Supplemental Nutrition Assistance Program) over the next 10 years. This is on top of the $5 billion the program lost last November because the 2009 Recovery Act stimulus bill expired. Forty-seven million Americans currently participate in SNAP, up 47 percent since the Great Recession started in 2008. This means that 15 percent of us rely on this program to eat. Last year the US spent $78 billion on the SNAP program.
We don’t have to be math whizzes to know that a 47 percent increase in participation coupled with a reduction in the funding of $13.6 billion spells misery for millions of Americans. This program has been the federal social safety net for low-income Americans and now this safety net is beginning to tear.
The New York Times reports that more and more people are beginning to show up at soup kitchens and food pantries. The first reduction in November cut out 23 meals per month for a family of four. In New York City, the number of people seeking food aid grew by 85 percent after the November cuts while 23 percent of the city’s food pantries and soup kitchens reduced the number of meals they provided. Food stamps were the signature program of President Johnson’s War on Poverty during the 1960s which led to fewer poor children going hungry or having nutrition related developmental delays. Birth weights also grew for children of poor mothers on food stamps. As a nation, we can’t afford to go back to the nutritional standards before the War on Poverty.
Luckily for us, our nonprofit organizations are stepping in and have created food banks to help fill the void continually shaped by Congress. The world’s first food bank started in 1967, right after the War on Poverty began. St. Mary’s Food Bank was started by John Van Hengel who was volunteering at St. Vincent DePaul in Phoenix, Arizona, serving dinners to those in need. A mother told him the soup kitchens and grocery store dumpsters were the only way she could feed her children. John went to the local parish, St. Mary’s Basilica and shared his vision of collecting food and money for food and depositing it where those in need could withdraw it. They gave John $3,000 and an abandoned building to get the food bank up and running. Today food banks touch just about every corner of the USA.
For example, Ozarks Food Harvest, one of the Feeding America food banks in Springfield, MO, distributes food to 320 hunger relief organizations across 29 Missouri counties reaching 41,000 people a month. To help hungry children, they have a weekend backpack program, where they fill 1,500 backpacks with food so these underprivileged kids can have something to eat when they can’t eat at school. How can you not love an organization that takes care of others every day of the week!
The State of Kentucky is setting an example for the rest of government in how to encourage its citizens to help others. Its legislature has made it easier for Kentuckians to donate to the Farms to Food Banks Program by just checking a box on their state tax returns to have part of their tax refunds to automatically go to this program which brings farm food directly into the food banks. This is how the government should behave in inspiring it citizenship to help each other.
Once again, we as individuals must step in to fill the gap recently created by our Congress. If you can’t devote your time, start by helping with cash to donate for food to our food banks. Here is a link to all the Feeding America Food Banks in your area. Here is a link to helping Meals On Wheels, which brings together 5,000 local nutritional programs for seniors and deliver over 1 million meals a day. And at DollarDays on our Facebook page, we are giving away $5,000 in food and products to local food banks, so make sure you nominate the one in your town.
General Motors Foundation last month donated $500,000 to the Capuchin Soup Kitchen serving the people of metro Detroit. Blue Cross & Blue Shield of Florida recently donated $250,000 to the Florida Association of Food Banks. The Alaska Federal Credit Union donated money to 17 food banks. Businesses with a conscience are beginning to step up to fill this massive void, but so far there is too big a gap to fill. We have got to make up the billions of dollars lost to support those in the most need in this new order of priorities created by Congress. We as citizens of this fine country need to create a new grass roots effort for this latest War on Poverty. Having 47 million Americans in need of food is not the country our forefathers envisioned. It is also not the country we want to leave to our children.
March 4, 2014 No Comments
DollarDays’ CEO Marc Joseph had the opportunity to hear Rudy Ruettiger’s keynote address at last week’s Affiliate Summit West in Las Vegas.
Many of you may remember Rudy, portrayed in the 1993 classic movie, Rudy, that captures his determination to overcome the odds to fulfill his dream. Rudy is now a motivational speaker whose message is contagious and inspirational. One of Rudy’s rules to live by was well received by the audience, “It is interesting what happens to your life when you take control. You attract positive people, people willing to mentor you.”
After the keynote, Marc Joseph was able to meet Rudy and get a signed copy of his book.
January 21, 2013 No Comments