Other Blog
Both Sides of the Retail Table
Advice for Entrepreneurs Pursuing Retail Success
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FROM THE BUYER’S PERSPECTIVE: WHAT IF THE RETAILER SAYS THAT THEY ARE NOT INTERESTED? THEN WHAT?
May 16, 2012By Vanessa Ting Use a “no” as an opportunity to get more information to improve your pitch. Never receive a “no” without following up to ask “what would you like to see done differently?” Remember, a “yes” means that you have satisfied the buyer’s requirements in three areas: 1) Product, pricing and packaging are all [...]
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From the Entrepreneur’s Perspective: What if the retailer says that they are not interested? Then what?
May 11, 2012I am a firm believer that when a buyer says “no”, it really means “not now”. I have been politely and professionally persistent over the last several years building the Psi Bands brand. I have received my share of “no’s” and I have not let that stop me from later landing major national accounts that [...]
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FROM THE BUYER’S PERSPECTIVE: DOES SOCIAL MEDIA MATTER?
April 27, 2012By Vanessa Ting As long as brands use social media as one prong of a larger integrated marketing campaign and tie it to a clear marketing objective (e.g., brand building, drive trial or repeat, etc.), then yes it matters. But if a brand is doing social media without clear objectives, it matters less to a [...]
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From the Entrepreneur’s Perspective: Does social media matter?
April 18, 2012You bet. Social media is a great way to engage with your existing customers and drive new sales. As small businesses, we do not have the big budgets to do national in-store demos on a regular basis, participate in expensive focus groups, or run national ad campaigns. We do, however, have the ability to build [...]
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FROM THE BUYER’S PERSPECTIVE: DO RETAILERS CARE ABOUT MY PRODUCT’S PR EXPOSURE?
April 13, 2012By Vanessa Ting It’s not just PR exposure that retailers care about, but your overall ability to build brand awareness and create demand for your product. And PR is just one lever to use to create demand for your brand. Romy offers great tips on how entrepreneurs can generate PR for themselves. I will add [...]
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From the Entrepreneur’s Perspective: Do Retailers Care About My Product’s PR Exposure?
April 5, 2012Absolutely. They want to know what you have done in the past and what you have coming up – with the bottom line being that you will drive sales to their stores. The past: past press shows the retailer that the media feels your story is a worthwhile one to tell and that you [...]
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FROM THE BUYER’S PERSPECTIVE: WHAT CASH FLOW CONSIDERATIONS SHOULD I BE THINKING ABOUT NOW VERSUS LATER?
March 26, 2012By Vanessa Ting Selling to major retailers is a strain on cash flow. There are many fees and charges you will be exposed to within the first 6 months of getting a “Yes” from stores like Target, Walmart, Costco and other national retailers. These costs will be covered in more detail in a future post, [...]
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From the Entrepreneur’s Perspective: What cash flow considerations should I be thinking about now versus later?
March 21, 2012The old adage of “cash is king” certainly applies to running a business. Without it, you can’t invest in anything. So, it’s important that you consider where – and when – you spend your hard earned dollars. Manufacturing…. Let’s consider the manufacturing cycle. You receive a PO, most likely AFTER you have started to [...]
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From the Buyer’s Perspective: What are the Inventory Control expectations retailers have of vendors?
March 12, 2012By Vanessa Ting I covered this in an earlier post so I won’t belabor the point much more except to say this: It’s important to only ship as many units as the retailer can sell. Always aim for a 95% sell-through. Retailers, both small and large, expect you to help them manage their inventory levels. [...]
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From the Entrepreneur’s Perspective: What are the inventory control expectations retailers have of vendors?
March 5, 2012You do not want to have too much or too little inventory. Either one can cost you. Why? Too little: If you do not have the inventory necessary to fill a retailer’s PO, then they are sitting without product and that means lost sales. A buyer is judged on how she/he meets his/her financial goals. [...]
