Interview: Marc Joseph, Founder of DollarDays

Marc Joseph is the founder of DollarDays, the […] online wholesaler that helps small businesses compete against larger enterprises and [helps] nonprofit organizations find the products they need to support their causes. DollarDays offers more than 225,000 high-quality products at wholesale and closeout prices. Mr. Joseph has helped build some of America’s most known retail stores, including Federated Department Stores, Bill’s Variety Stores, Everything’s a Dollar Stores and Crown Book Stores. Most recently, he started a chain of hair salons in Arizona and built it up to 11 stores before selling them to devote [his] full time to DollarDays. He is the author of the book “The Secrets of Retailing…or How to Beat Walmart,” which provides expert advice to independent businesses of all sizes on everything from the psychology of buying and the hiring of great employees to working successfully with vendors and promoters, as well as how to expand your business on the Internet. Mr. Joseph is also a frequent contributor to The Huffington Post and the Alibaba Global Biz Circle news websites.

IdeaMensch (IM): Where did the idea for DollarDays come from?

Marc Joseph (MJ):When we started back in 2001, small businesses were getting crushed by chains moving into their towns, so we wanted to help these small businesses survive and thrive against these big-box competitors. At the same time, the Internet was emerging as the new way to quickly communicate, so I saw the Internet as the next channel of distribution of wholesale and closeout products by the case so the small guys could compete on a level playing field with the big guys.

IM: What does your typical day look like, and how do you make it productive?

MJ: The Internet is really the last true vehicle to still be able to use guerrilla marketing to promote your business, so we start every day asking the question, “How can we find new customers and begin to brand ourselves?” in this sea of millions of websites currently trying to attract the eyeballs on the World Wide Web. We make this a productive exercise by reviewing sales from the last day, week and month and analyzing the customers, both new and existing, [who] created these sales. Our short-term goal is to market out to lookalike customers who don’t know about us today. Because of this, we get our report card each day. This month, we get a “B+” because we are averaging 1,500 new customers now joining us each day. Our long-term goal is to convert these new customers into repeat, loyal customers.

IM: How do you bring ideas to life?

MJ: Unlike traditional businesses that need a three-month timeframe from idea to implementation, being a company focused on the Internet, we can come up with an idea in the morning and have it live on the site that afternoon. This gives us the opportunity to test even the craziest ideas, because if the idea does not work, we can immediately take it off the site with a click of a button. So just about every day our site looks a little different, and the winning ideas become part of our culture, while those that do not click with our customers go away quickly.

IM: What is one trend that really excites you?

MJ: Adult coloring books are exciting. Why adult coloring books? I just use this as an example of how ideas become trends that become sales. About a year ago, one of our better small-business customers told us that in his small town, he was seeing 20- and 30-year-olds put down their cellphones and pick up a sketchpad or coloring book and begin to doodle. He assumed it was for stress relief from the constant pressure our modern society puts on itself in this electronic-driven age. With that early knowledge, we went out and sourced all kinds of adult-type coloring books from geometrics to nature to animals. Just this year, we have gone through hundreds of thousands of adult coloring books—[and all] because one of our salespeople developed a strong bond with one of our customers who trusted us to help them build their business. Adult coloring books are to this generation like pet rocks were to an earlier generation.

IM: What is one habit that makes you more productive as an entrepreneur?

MJ: I keep a pad and pen on my nightstand. For some reason, some of my better ideas pop up in the middle of the night, and if I don’t write them down when they wake me up, I just can’t remember them the next morning. Taking this a step further, whenever I am away from my desk to exercise, have dinner, etc., I now always have a pen and paper in my pocket just in case that million-dollar idea jumps in front of me.

IM: What was the worst job you ever had, and what did you learn from it?

MJ: To help put myself through college, I became the housekeeper and the weekend cook at my fraternity. Who knew that college guys could be such slobs? No matter how often you tried to train your brothers to pick up after themselves, if their mother could not teach them, I certainly could not, either. This was the beginning of my learning about the art of communication, and for negotiations to be successful, you could not use the tact of telling people what to do—you need to get them to buy into your dream or, in the case of the fraternity, working together for a cleaner, more appealing environment.

IM: If you were to start over again, what would you do differently?

MJ: Cash is king when starting a business. Opening your own business may be a dream coming true, but paying for this dream is an entirely different story. The vision of digging through your couch to find all the lost change to make your business work is a myth. Raising money is the toughest challenge you will ever face. You cannot put every penny you have into your business, because you will need dollars to cover your living expenses for the first six months, and if you do not have enough cash flow in your business, you will be scrambling for years. So my advice is to make an extremely strong effort to raise as much cash as possible before going into business.

IM: As an entrepreneur, what is the one thing you do over and over?

MJ: Pick up the phone and always be reaching out. Don’t wait for people to reach out to you. Whether you like it or not, entrepreneurs are always selling. They are selling their idea to raise funds to start the business. They are selling their idea to potential employees to get them to join their dream team. They are selling their idea to customers and suppliers to trust them to help improve their businesses. So entrepreneurs cannot get complacent. Every day, you must relive those days and months in the beginning when you were the only one picking up the phone. Pick up the phone today and find new customers.

IM: What is one strategy that has helped you grow your business?

MJ: Hire good people. I try to hire people who are smarter than I am in areas that I am not the expert. This way, you can build a team with divergent expertise, yet when adding up the sum of the teams’ knowledge, it is first class.

IM: What is a failure you had, and how did you overcome it?

MJ: For years, our site, which is homegrown, did not give the perception that we were a top-notch company. It was slow and cumbersome to use, and, because of this, our sales were stagnate. We finally bit the bullet and put all of our financial resources and human resources into taking our site into the 21st century. It has paid off, because this year, we were one of the three finalists for the Internet Retailer B2B E-Commerce Marketer of the Year [award].

IM: What is one business idea for those reading this article?

MJ: The relationship we as businesses and entrepreneurs have with our customers is changing. It is a trend that has always been part of the millennial generation, but is now also part of all generations, and that is [that] customers want to do business with companies that care about giving back to their community. We do it with three different programs—$5,000 a month through our Facebook giveaways to nonprofits, creating free wishlist sites for nonprofits, and letting all of our customers donate 5% of their purchases to nonprofits. I am sure there are plenty of other ways businesses can give back to their communities.

IM: What is the best $100 you recently spent and why?

MJ: We donated a case of baby blankets to our local Kiwanis Club K-Kids group at our Boys & Girls Club. This is an organization that helps young kids learn the value of service and helping others. This young club was helping the homeless families in our area. You should have seen the look on these kids’ faces as they were unpacking the carton of baby blankets. The joy they had in helping brought many of the adults in the room to tears. This is emotion that cannot be bought.

IM: What software do you use?

MJ: Because we have an inside sales team that works closely with our existing and new customers, we have just initiated Salesforce to help keep us organized and alert us quickly for followup with our customers. Making us more efficient in the long run will make us more money.

IM: What one book do you recommend?

MJ: If you are only going to read one book this year and you are an entrepreneur or small-business owner, you must read “Shoe Dog” by Phil Knight, the create of Nike. I could not put it down. The ups and down of starting a business are on full display in this compelling story. I must mention two other books also that gave me real perspective on growing a business. The first is “Alibaba,” which is the most accurate telling of the story of the largest e-commerce company in the world, and the second is “Elon Musk,” which tells the true story of this billionaire and gives you some insight into what our future may look like.

IM: Who has influenced your thinking?

MJ: We can learn so much by studying history. I can’t get enough of George Washington, whether it is his biography or the current TV show, “Turn: Washington’s Spies.” But the real influencers of my life were the entrepreneurs of my father’s generation, brave men who I watched in action just about every day. Most of these guys fought in World War II and then came home to build their dreams for their families. None of them had anything handed to them, and they built their businesses by hard work, dedication to their dream, and the understanding of what it takes to build and service a loyal customer base.

Original article here: https://ideamensch.com/marc-joseph/

13 Retailers Recognized as Social Media Mavens

Nearly a decade ago, social media was a small fraction of retailers’ marketing mix. Most of the time, businesses were focused on building up their social profiles and pushing out messages and coupons to their followers.

But now, the rules of social engagement have changed: best-in-class retailers understand that ongoing communication, information sharing and engagement drive successful social initiatives.

shadow RTP RT053 AWD SocialMediaMavenAwards Mar 2015

For the first time, Retail TouchPoints is honoring brands and retailers that are using social media in innovative ways to improve their engagement, service and selling strategies.

Winners of the 2015 Social Media Maven Awards include both large national retailers and smaller brands and startups. Award recipients also vary in their product and service offerings, from accessories to apparel, cosmetics and office supplies.

This year’s winners are (in alphabetical order):

  • Adore Me
  • Belk
  • Claire’s
  • DollarDays
  • Jamba Juice
  • Kohl’s
  • Lilly Pulitzer
  • Lorna Jane
  • Marc Jacobs
  • Saddleback Leather Co.
  • Softlips Lip Balm
  • Staples
  • Yes Sir

Original article here: http://www.retailtouchpoints.com/features/special-reports/13-retailers-recognized-as-social-media-mavens

Wholesale & Distribution International: Spotlight on DollarDays

The Internet has made it possible for individuals to connect with libraries halfway around the world or tour historic landmarks through a video feed, effectively democratizing information and resources that used to be restricted to a select few. DollarDays‘ founder and CEO, Marc Joseph, says his company does the same for small retailers, making it possible for them to compete with the large chains and connect with major manufacturers and brands in a way that simply wasn’t possible for them 15 years earlier. 

Joseph says he founded DollarDays in 2001 because he and his partners understood the potential for the Internet to become the next significant channel of distribution. This would be especially true for small businesses, which didn’t have the same resources as large-scale retailers. In the past, manufacturers would send salespeople out to visit retailers of all sizes, but in today’s marketplace, most major manufacturers have deemed it unnecessary, leaving the smaller retailers out in the cold with big manufacturers and distributors. “If you’re a small business in today’s world, where are you going to find products?” Joseph says. 

DollarDays is a leading wholesaler of a wide assortment of products serving a customer base that includes smaller distributors, as well as mom-and-pop retailers competing against big-box stores like Walmart and Target. Joseph says the company supplies its customers not only with the everyday goods they need, but [with] a healthy selection of seasonal and closeout products, as well. DollarDays has more than 300,000 SKUs available for its customers, Joseph says, making it indispensable for those smaller retailers. “Basically, we are a one-stop shop for these small businesses,” he says. 

Face to Face

Joseph says customers turn to DollarDays for its incredibly broad assortment and competitive prices, but there’s another piece of the puzzle that is just as important for its customers. DollarDays’ internal sales team is just as much a selling point for customers as the company’s selection and prices, Joseph says. 

Although the convenience of being able to order product from the Internet 24 hours a day and seven days a week certainly is appealing for smaller retailers and distributors, Joseph says nothing can take the place of having dedicated salespeople available to answer questions and help customers with their orders. “What they do is actually work with our customers,” Joseph says, adding that these salespeople are able to connect with customers at any time and from anywhere through the Internet. “They’re taking the place of the guy who used to sit on the other side of the desk with these guys.”

Cutting Edge

The company’s reliance on technology means DollarDays has to stay on the cutting edge of the industry. Joseph says this is especially true because of the increasing number of wholesalers that utilize the Internet as a means of reaching out to customers and fulfilling their orders. As the wholesaling industry starts to become fully aware of the impact the Internet can have on its business, DollarDays is working hard to keep up with the latest trends and adapt to the major changes taking place in the industry.

One of the most significant of these changes and trends is the shift to mobile communication. As smartphones and tablet computers become more and more commonplace, customers are freed from being tethered to their desks, but websites need to be optimized for touchscreens and mobile data connections as a result. “What that means is all of a sudden, not just everyone is sitting in front of their computers anymore—it’s all mobile,” Joseph says. “The way for people to shop on the Internet has evolved, and so we’ve evolved along with it.” 

That evolution includes the use of social media as an outlet for reaching out to customers. Joseph says the use of platforms such as Facebook and Twitter makes it easier for DollarDays to connect with its customers in a way that conforms to their individual schedules. “That has changed the way that customers perceive how a business interacts with its customers,” Joseph says, adding that DollarDays has accounts [across a number of social media channels] as [a] means of promoting the company and communicating with customers. 

Connecting with customers has been a major focus for DollarDays over the last few years, and Joseph explains it is something the company pays close attention to every day. With a deep understanding of the marketplace and its wide selection, Joseph says, DollarDays is poised to continue holding onto its leadership position for years to come.

Original article here: http://wdimagazine.com/index.php/sections/durable-goods/304-dollardays-international

From Pit Bulls & Parolees to the Dog in Your House, April is Their Month

“Did you know April has more pet-awareness events than any other month? [There are more than] 10 national events, including ASPCA’s Prevention of Animal Cruelty and the Red Cross Pet First Aid Awareness. Why do we care so much about our pets for us to celebrate them in so many different ways in just one month?

“Most of us own pets. We know the comfort they provide for life’s invisible scars. The unconditional love they provide transcends work issues, family conflicts, death, divorce and other life events. Our pets don’t care if we can read or not, what our skin color is, or who we love.

“At DollarDays, the nation’s premier online wholesaler, we are doing our part by giving away $5,000 worth of merchandise to help animal shelters across the country—and you can be a part of it. Please nominate an animal shelter in your community by entering on our Facebook page. Additionally, Animal Planet’s hit reality TV show, ‘Pit Bulls & Parolees,’ will have a donation opportunity for their pit bull rescue center, Villalobos (VRC), on DollarDays’ checkout page during April. Customers can choose to donate $1, $5 or $20 to VRC.

“During this month-long celebration honoring our best friends, please do the right thing. Do what you can to help shelters and caring organizations ease the burden for defenseless animals. Make a donation to and/or try volunteering at your local shelter. Whatever you do, be sure to enter DollarDays’ $5,000 pet shelter giveaway—it takes less than a minute. Your act of kindness goes a long way for animals who can’t speak for themselves,” said Marc Joseph, Founder and CEO of DollarDays.

You can read Marc Joseph’s blog, “Pets Rule in April,” [in] The Huffington Post to understand why DollarDays’ heart goes out to our pets who need our help.

About DollarDays
Founded in 2001, DollarDays is the leading supplier of wholesale goods for nonprofits, businesses and betterment organizations. By sourcing affordable products, backed by exceptional service and meaningful community engagement, we strive to inspire and empower our customers to accomplish their missions to improve the lives of people around the world. Recognized as the City of Phoenix Mayor’s Office “2018 Product Exporter of the Year” and Internet Retailer Magazine’s “B2B E-commerce Marketer of the Year” for 2016 and 2017, DollarDays is headquartered in Phoenix, Arizona. For more information, visit www.dollardays.com.

DollarDays Wants to Help You Help a Family in Need Anonymously

“During the holidays, we see an outpouring of thoughtfulness to those who are less fortunate, but what about after the holidays, when the outpouring of good intention ends?

“Unfortunately, the holidays are not the only time families need help. It’s 12 months a year—there are always families in need. Some families have had their breadwinner [or breadwinners] out of work for months, taking its toll on family finances. Others have had medical emergencies. There are many situations that can put a family in need, and, as you might imagine, there are many families who don’t reach out for help at all, and often, they are the ones who suffer the most.

“That’s why DollarDays is anonymously giving away $5,000 in merchandise this month to people and families who could use a hand. To support this suffering segment of our population, we, as a nation, must come together, and this giveaway is DollarDays’ way of giving back,” said DollarDays’ CEO, Marc Joseph. 

Joseph just authored a Huffington Post article about what happens to a person or family when unemployment benefits are depleted, both short- and long-term. It’s a devastating tale and paints a realistic picture regarding the domino effect of unemployment. The article is also the catalyst for DollarDays’ March $5,000 giveaway, where merchandise will be dispersed to families in need who are anonymously nominated by you. DollarDays will be giving one $2,000, one $1,000, one $500 and 15 $100 shopping sprees.

We all know that the most vulnerable part of our society is going to be in real trouble for the next several years, especially with what we have been seeing out of Washington recently. It’s time for all of us to look around in our own backyard and be a good neighbor. Whatever each of us can do to pay it forward to help others just might cause a ripple effect that will help those in need pull through these difficult times.

This is the time for businesses to step up and chip in. We know nonprofits tirelessly help 12 months a year, but if you’re unemployed or needing help, no day is a holiday. Let’s do what we can to help others, and entering the DollarDays $5,000 merchandise giveaway by visiting DollarDays’ Facebook page is a good start.

About DollarDays
Founded in 2001, DollarDays is the leading supplier of wholesale goods for nonprofits, businesses and betterment organizations. By sourcing affordable products, backed by exceptional service and meaningful community engagement, we strive to inspire and empower our customers to accomplish their missions to improve the lives of people around the world. Recognized as the City of Phoenix Mayor’s Office “2018 Product Exporter of the Year” and Internet Retailer Magazine’s “B2B E-commerce Marketer of the Year” for 2016 and 2017, DollarDays is headquartered in Phoenix, Arizona. For more information, visit www.dollardays.com.

Nominate a Small Business to Win in DollarDays’ $5,000 Giveaway

“If you know anything about DollarDays, the nation’s premier online wholesaler, then you know we are committed to the success of small businesses everywhere,” said DollarDays’ CEO, Marc Joseph. “This commitment is evident in a myriad of ways—from wholesale and closeout pricing on over 225,000 products to several online business opportunities to a monthly $5,000 merchandise giveaway. 

“Our country was settled by innovators and risk takers. This entrepreneurial spirit is still alive today, and each of us must go out of our way to ensure its continued growth, as our nation’s small-business owners are truly the backbone of our country,” said Joseph.

In cadence with DollarDays’ support of small business, Joseph shares a fresh, reflective insight about the critical role small business plays in America via his most recent Huffington Post article, “Is Entrepreneurship Dead?” This article complements the sentiment behind DollarDays’ February $5,000 merchandise giveaway, “Pay It Forward,” designed to help small businesses launch or expand. Anyone can nominate a small business in their area by visiting DollarDays’ Facebook page.

Each month, DollarDays gives away $5,000 in merchandise to nonprofits or small businesses with the mindset of giving back to the hardworking people who are truly the strength of our nation’s economy. 

About DollarDays
Founded in 2001, DollarDays is the leading supplier of wholesale goods for nonprofits, businesses and betterment organizations. By sourcing affordable products, backed by exceptional service and meaningful community engagement, we strive to inspire and empower our customers to accomplish their missions to improve the lives of people around the world. Recognized as the City of Phoenix Mayor’s Office “2018 Product Exporter of the Year” and Internet Retailer Magazine’s “B2B E-commerce Marketer of the Year” for 2016 and 2017, DollarDays is headquartered in Phoenix, Arizona. For more information, visit www.dollardays.com.

6 Surefire Ways to Capture More “Likes” on Facebook

Facebook “likes” are quickly turning into currency for credibility. The more “likes” your business has, the more seriously consumers will perceive your company. Extra bonus: every time someone “likes” your page, each of your updates shows up in their news feed, thereby providing them constant reminders of your brand.

So how can you pump up your “likes” to Apple and Gap levels (2.7 million and 1.4 million, respectively)? Follow these tips, and you’ll soon be on your way.

Tag, Tag, Tag

In late January, Jill Homiak, founder of Presenza, a wrap-top designer in Alexandria, Va., posted this to her company’s Facebook wall: “Who else is excited that Sofia Vergara is the new CoverGirl?!?!” She tagged the word “CoverGirl” by putting an @ before the “C,” thereby alerting CoverGirl to the post. Her plan worked; it not only caught the attention of the cosmetics brand, but the brand ended up “liking” her comment.

“By ‘liking’ my comment, it showed up on their Facebook page, which is ‘liked’ by more than 1.7 million people,” says Homiak. “It gave us huge visibility, and we attracted more ‘likes’ in the process.”

Donate to Charity

PaySimple, a cloud-based accounts-receivable provider out of Denver, is taking a touchy-feely approach to attracting “likes.”

“We are taking part in a month-long philanthropy campaign where, for every ‘like’ we receive, we will donate $1 to Kids Are Heroes, a nonprofit that inspires volunteerism in children,” says Sarah Jordan, the company’s Director of Marketing, adding that [PaySimple] is hoping to bring in around 200 “likes” and, so far, is up 40 from last month.

If you’re inspired to try this but aren’t sure what charity will resonate with your customers, Jordan recommends the trial-and-error method to see what brings about the most interest.

Host a Giveaway/Contest

On New Year’s Day 2011, Marc Joseph’s Facebook business page had around 3,200 “likes.” Today, it has more than 42,000.

How’d he do it?

“I’ve been doing giveaways every month since January 2011 on Facebook, and it has worked beautifully,” says Joseph, CEO and President of DollarDays, a wholesale distributor out of Scottsdale, Ariz. “In addition, we really engage with our customers online and ask them what kinds of giveaways they want, which inspires even more attention and comments.”

Contests are also great “like” drivers. Just before Christmas, Brina Bujkovsky, founder of The Younique Boutique in San Marcos, Calif., offered a free hanging quilt as the prize of a contest asking followers to describe their happiest holiday memories on her business’s Facebook page. The contest worked—her “likes” went from 100 to more than 800 in just two weeks. [S]he selected the winner at random and then asked them to post photos of the quilt once they received it, attracting even more “likes.”

Create a Splash Page

A splash page is a gate to one’s Facebook wall and usually contains colorful graphics describing a company, promoting products or sales. Louis Hernandez, Jr., CEO of The Motor Bookstore, a car-manual retailer in DeBary, Fla., uses his splash page to capture “likes.”

“A splash page asks the visitor to ‘like’ your page before seeing your wall contents,” he says. “You can bypass this, but the majority of visitors will follow instructions.”

Reward Reposts

In an effort to get the word out about her harp-performance business, Merry Miller turned to Facebook in a creative way: she asked followers to do the work for her.

“I inspired my base to repost a link to my love CD by offering to play a wedding for free to the person who got the most ‘likes’ on my link,” she says. “I captured 100 ‘likes’ in the first day.”

Get Personal

Facebook users hate a hard sell. Endear your business to followers by posting on personal topics such a popular sports games and how you feel about the weather. Michael D. Haaren, cofounder of Rat Race Rebellion, a work-from-home job board out of Annandale, Va., posts about his obsession with Nutella and gets tons of feedback, as well as “likes.”

Bottom line: Remember to put the “social” in social media. [D]on’t talk at your consumers; [t]hey will just tune out.

Original article here:
https://www.americanexpress.com/en-us/business/trends-and-insights/articles/social-media-for-business-2012-6-surefire-ways-to-capture-more-likes-on-facebook-1/

Frugal Living Tip: Can You Lose Money by Being Social?

There’s a lot of pressure these days to join popular social networks like Facebook, LinkedIn, MySpace and Classmates.com.

Social networking sites promise the thrill of reconnecting with old friends and the excitement of possibly making new ones. You may get messages from contacts who have already joined one of these sites urging you to sign up and participate. Even if you’re not into chatting online, you might be tempted with the thought of forging valuable new business connections with a bit of virtual networking.

But could participating in social networks actually end up being a costly financial decision? In a recent article on SavingAdvice.com, Jennifer Derrick argues that participating in social networks can be an expensive proposition.

Derrick makes some interesting arguments, such [as one explaining] that revealing detailed information about yourself in an online profile might leave you vulnerable to identity theft or provide opposing attorneys with plenty of ammunition if you ever get taken to court.

But her most persuasive point concerns the opportunity costs of social networking. The point here is not just that you probably won’t make any money by participating in social networking, but that you’ll most likely end up losing money as a consequence of wasting countless hours trying to track down the boy/girl who sat next to you in Social Studies class back in the sixth grade.

Your time is valuable. Use it wisely. Participating in a social network (or playing an online game, surfing news sites, watching YouTube videos, etc.) may be technically free, but there is a cost to all of these time-wasting activities.

Would Mozart have composed as many symphonies if he had gotten sidetracked downloading the latest tunes from Amazon? Would Einstein have figured out the Theory of Relativity if he had been checking out the profiles of other scientists on Wikipedia? Would Thomas Edison have invented the phonograph and commercialized the lightbulb if he had been focused on building his Friendster profile?

The lesson—consider the opportunity cost of your time. Don’t be so focused on saving money that you spend hours perusing coupon sites to save $10 if you could have made $100 by creating or selling products or services during that time. Don’t be “penny wise and pound foolish.”

That’s not to say that you shouldn’t participate in social networking as a source of amusement, fun and relaxation. You might even be able to glean some business benefits if you use the sites smartly for networking purposes.

But recognize that all the social networking sites can become time-wasters and stop at least a couple of times per month to ask yourself whether your opportunity costs of social networking justify whatever personal or professional benefit you derive from the sites.