​By Eliana Barriga
Publisher and Managing Editor for The Retail Observer

“IT’S NOT HARD TO MAKE DECISIONS, WHEN YOU KNOW WHAT YOUR VALUES ARE.”
–Roy E. Disney, partner and co-founder of Walt Disney

I am currently looking into hiring an of ce assistant and have been a bit hesitant about starting the hiring process. The team we have right now works so well together, and I know it can be difficult to  find someone that fits in just right... Or is it?
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In any relationship, when we are clear about our own values, needs and “must-haves” it is easy to communicate that to others. The trouble comes when you don’t know what you want, and can’t effectively communicate what you expect from others. We all know that this is no way to live a purposeful life or run a successful business.

​In order to solidify the structural integrity of your business, dust off that mission statement, re-evaluate where you’ve been, where you are and where you’re going. Identify who you are as individuals, a team, and a company. With the fast pace of life, these things can get a bit blurry over time–yet they do need to be addressed.

The book, The Speed of Trust by Stephen M. R. Covey has been quite helpful with getting started. The “4 cores of credibility” emphasize getting clear on who you are first as a person in the areas of integrity, intent, capabilities and results, before expecting others to trust following your lead. Yet, it is helping to identify what I don’t want—what I call my “deal breakers”, those character traits that just won’t work well within our company culture. With this newfound clarity, attracting and hiring the right people that will contribute to our team and business goals should be much easier!

Until next time,
Eliana Barriga
eliana@retailobserver.com

You know that box in the back of your warehouse that is covered with dust, has no bar code and has been shifted and moved around so many times that the cardboard is tattered and torn? Yes. that box, your forgotten and discarded piece of pro t. And what about all of the damaged products that will never get a return authorization or were already paid for by a claim? This is your “B” stock and that means $$$. Don’t waste profit by letting your old stock and damaged products just sit in boxes in your warehouse.

During the downturn, I remember seeing a few companies that took advantage of these often forgotten boxes. And helped themselves not only stay afloat but thrive and grow. One example was Airport Appliance in Northern California. They partnered with a local TV channel during the weekend broadcast and sponsored and hosted a TV show right out of their warehouse full of scratch and dent and old stock. With TV and newspaper advertising they received flocks of customers looking to get a deal when deals really weren’t around to be had. During that time, while competitors were closing stores, Airport Appliance grew their bottom line and actually opened more locations making them one of today’s stronger players in their market.

Donations to charities are also a great way to clear up this stock and who isn’t looking for a write off? Habitat for Humanity, the Goodwill or Salvation Army to name a few are always looking for products to sell or to give to those in need. Stoves, refrigerators, microwaves, old display cabinets and even the towels, pots and pans you used for demos can be a great donation.

The truth is, if it’s sitting around with dust on it, it’s not doing you any good or helping your bottom line. Sell it or donate it. Who doesn’t want more $$$ and with the extra space in your warehouse you’ll be able to put more of what does sell in its place.

Happy Retailing,
Moe Lastfogel
​moe@retailobserver.com