House Votes on Bills

In a recent bi-partisan vote, the U.S. House of Representatives passed both bills. “Bringing more accountability to the federal rulemaking process is a top priority for small businesses, and passing the Regulatory Flexibility Improvements Act is central to that effort,” said NFIB President and CEO, Dan Danner. Bruce Josten, executive vice president for Government Affairs at the U.S. Chamber agrees that the passage of bills like The Regulatory Accountability Act are to be applauded, saying, “The principles in this legislation make the regulatory process more transparent, agencies more accountable, and regulations more cost-effective, and it is our hope that the Senate will soon follow suit.” These bills will help in the enhancement of the regulatory process in the following ways:

1) Increase public participation in shaping the most costly regulations before they are proposed;

2) Require that agencies must choose the least costly option unless they can demonstrate a need to protect public health, safety, or welfare;

3) Give interested parties the opportunity to hold agencies accountable for their compliance with the Information Quality Act;

4) Provide for on-the-record administrative hearings for the most costly regulations to insure that agency data is well tested and reviewed;

5) Restrict agencies’ use of interim final regulations where no comments are taken before a regulation takes effect and providing for expedited judicial review of whether that approach is justified; and

6) Provide for a more rigorous test in legal challenges for those regulations that would have the most impact.

As retailers finish out the fourth quarter, focus on holiday sales and prepare the 2012 marketing budget, m-commerce will continue to be a topic of interest and exploration. NetworkWorld.com reports IBM’s recent research findings, saying, “Record numbers of consumers are already shifting their shopping from PCs to mobile devices. In October, nearly 11 percent of online shoppers used a mobile device to visit a retailer’s site. This month 15 percent of people in the U.S. who log onto a retailer’s website are expected to do so through a mobile device.” Below are some of the ways both retailers and their consumers can be found utilizing mobile devices and the shopping channel they provide this holiday season.

DIY Mobility for Retailers

Small and independent retailers can be hands on this holiday season, creating a mobile app for Black Friday or promoting holiday shopping specials. Magmito, a mobile content creation solution to make apps for any phone or platform, targets the Do-It-Yourself (DIY) community, small to mid-sized business (SMB) users, enabling anyone to create rich and engaging apps to promote products, services, events, etc. Magmito offers free development of an app with ads, or a $99 deal for an app without ads.  Apps can be created and published in just a few hours, and updated with new specials as often as needed.

The apps can easily be distributed through auto-generated QR Codes, popular app stores, Facebook, Twitter, SMS, email-to-mobile and more, depending on a retailer’s marketing plan. The apps will also work on both smartphones and feature phones. Magmito delivers apps both as a native app or Web app for all J2ME, Android, Windows Mobile and Blackberry devices. IPhone users automatically get an enhanced Web App version, avoiding the Apple approval process.

Holiday Deals for Consumers

Appitalism.com launched its combined social community with an online store providing digital content for all devices in November 2010. Compatible with smartphones, tablets, PCs and eBook readers, the site debuted a catalog of more than ten million premium apps, songs, books, games and videos. Simon, CEO of Appitalism, announced in a statement Appitalism’s “goal is to be the leading destination for consumers seeking to learn about and purchase the highest rated apps and content for any device.” These include those discount and coupon apps for the holiday that more than two out of five shoppers are looking for to aid in their shopping. Among some of the apps available are:

Black Friday Deals: Get all the info you need for Black Friday shopping! Browse hot deals and buying guides, look through ad scans and check store hours. Create a shopping list, win prizes! Everything you need to be prepared this Black Friday is here.

Black Friday Deals & Coupons: Great coupons for saving money on Black Friday – the biggest shopping day of the year. We will also update the app for cyber Monday and throughout the holiday season and onward.

Black Friday Survival Guide: Black Friday is one of the biggest shopping days of the year and a great time to find incredible deals. blackfriday.fm wants you to be ready when the big day rolls around this year on November 26th, so we’re bringing the latest news, the biggest sales, and the best deals right to your phone with the blackfriday.fm app.

Retail and Small Business Employment Statistics

As Susan Woodward, the economist behind the Index, explains, “When we see the hiring rate go up with roughly the same growth in employment as in previous months, we can infer that people are leaving jobs in small businesses. This means that small businesses have to find new employees, which is a good sign for activity in the economy overall.” Simply stated, employment opportunities for retail salespersons are expected to be good, as there is a need to replace the large number of workers transferring to other occupations or leaving the labor force each year. The Bureau of Labor Statistics reports, “Employment is expected to grow by 8 percent over the 2008 to 2018 decade, about as fast as the average for all occupations. In addition, given the size of this occupation, about 374,700 new retail salesperson jobs will arise over the projections decade, more jobs than will be generated in almost any other occupation.”

However, as customer sales continue to increase (the sign of a recovering economy), you have to be willing to pay a little more for the help needed. As revealed by Intuit’s Index report, jobs opportunities are increasing, but so is compensation. Average monthly payment for all small business employees was $2,682 in July. In the retail industry specifically, the average hourly wage continues to rise, with the middle 50 percent falling between $8.26 and $13.35 an hour, as recorded in early 2008. The Bureau of Labor Statistics notes, however, “Compensation systems can vary by type of establishment and merchandise sold.”

To learn more about small business employment in the month of July, click HERE.

1) Win in the last three feet. Leverage someone else’s investment; just be there the moment the customer grabs their wallet.

2) Create “thin ice” arguments. Shift the conversation to places where the competition can’t, or won’t go.

3) Fight unfairly. Learn how the underdog can turn the tables, pick unfair fights, and create awkward mismatches.

Talking with Ann Handley of American Express’ OPEN Forum, Denny discusses the newly released book and its thesis that being the little guy can be advantageous when taking on larger and established competitors. The most important interview question: What does it mean to kill a giant? In response, Denny answers, “In business, it isn’t the giants with their huge budgets and legions of employees who hold all the cards. It’s the upstarts that can pick the unfair fights, hijack the giant’s big marketing expenditures, and generally make life miserable for the larger competitors.” Simply, any brand or company can directly challenge the giant of its category or industry, and thrive. While it’s inconvenient to be the little guy, it can also be a blessing in disguise. Denny explains, “With the power of ideas and innovation, as well as our personal desire to tap into creativity, passion and discipline, anything is possible. In fact, one of the greatest drivers for success is the desire to do what other people think is impossible.”

This insight into toppling industry giants came from close studying and interviewing of 70 global leaders worldwide, who have carried their fair share of competitive angst. Among Denny’s contacts and inspiration for the novel were Bob Parsons of GoDaddy.com, Jim Cook of the Boston Beer Company, Eric Ryan of Method Home products, and others from across the globe. According to Denny, the novel’s 10 strategies are, “thinking tools, allowing others to reflect on these business leaders’ experiences and lessons learned.” Such a reflection has led Denny to the idea of, “changing the way you look at pricing (not just the price), and making it easier to say yes, particularly in these economic times,” as expressed in a recent blog post. Denny implores that retailers look at any financial and pricing difficulties they may be experiencing in an alternate way, by asking, “How can I sample myself to customers?”; “How many different ways can I give something of value away?”; “What ‘gift’ can I give away?”; and, “Is what I do, word of mouth worthy?” According to Denny, “The need to work smarter, with fewer resources, isn’t dependent on the state of the economy or on any sense of stability you have in your industry.” A quick read of Killing Giants could help small retailers become the Davids of their industry.

According to the Aberdeen Group, 38 percent of retailers are in the process of employing mobile or tablet-based retail technology. When you walk into your neighborhood Apple store, you notice that handheld mobile devices like iPads and iPhones are now being used to process payments and purchases via the cloud.  The New York Times recently reported, “Many retailers say they see a lucrative future in tablet shopping,” as they grow in popularity and become common knowledge among consumers. In fact, many consumers prefer not only browsing, but also buying via a tablet and retailers’ associated apps.

Processing POS Transactions on iPads and Tablet Devices

If you are looking to invest in the purchase of a tablet to replace that aged cash register, below are a few features every retailer should look for in associated cloud-based POS software:

Sales and Operational Insights
Real time inventory tracking shows you what’s hot and what’s not, who’s buying what and where. Generate custom sales reports, make price changes, add items, and set refill points.

Customer Insights and CRM
Make your customers feel like a priority. Use historical sales data to personalize and customize the service you provide to them.

Relationship Building and Loyalty
Run targeted campaigns and give special pricing to your most loyal customers.

Gone are the days when small businesses had to purchase, provision and manage a server for their business and worry about keeping the data secure. With cloud-based POS systems such as ERPLY, small businesses and independent retailers receive access to enterprise-grade technology at a fraction of the price. Companies around the globe are using such software platforms, with the necessary features, to handle all POS needs on the service-side, allowing small business owners to focus solely on what they do best, growing their businesses. Small businesses are now able to analyze, track and manage data about their products and customers the same way larger companies do. With prices starting at only $70/month for up to 50,000 inventory items, ERPLY provides a point of sale, inventory and ecommerce solution that was typically out of reach for small businesses due to cost.

Four Things to Consider During the Hiring Process

Tom Harnish, writer for American Express Open Forum, recently published his advice on four avoidable mistakes frequently made during the hiring process.  Your employees will be handling two of the most important elements of your business, customers and cash, and you need to ensure that they will work with care.

Interviews don’t tell all: An interview is generally about employer and employee chemistry.  But what does that tell you about their performance level? As recommended by Harnish, “You need to use a structured interview with questions that have been validated as good predictors of performance.”

Comparisons can’t be made to your model employee: Everyone wants a staff of superstars, but you can’t mirror your best employees by matching characteristics.  Harnish’s advice, “You can avoid the mistake of trying to clone your superstars by finding someone who has done the work to validate the critical skills for success.” The proof of a superstar is in the experience.

A position isn’t all personality: Don’t assume that a certain personality type is built for a certain position, especially when an interviewee is putting on their best face and best manners. You are better off basing your decision on skills-based or job-knowledge tests.

Take a close look into their past: Pre-screening is essential. According to Harnish, “As many as one in three resumes leave out important information, and some estimates suggest as much as 40 percent of all information on resumes is false or misleading.” If your interviewee is taking great effort to hide a history, how trustworthy can they be on the job?

Investing in Your Final Decision

Hopefully, with the consideration of the above hiring guidelines, you’ve avoided common mistakes and made the best decision for you and your store. To ensure you’ve hired the type of employee you are looking for, there must be continued investment on your part. No one is perfect, but with a little guidance you could build a staff of superstars. For instance, most retail salespersons receive on-the-job training, including topics on customer service, security, policies and procedures, cash register operation etc.

1. Win in the last three feet. Leverage someone else’s investment, just be there the moment the customer grabs their wallet.
2. Create “thin ice” arguments. Shift the conversation to places where the competition can’t, or won’t, go.
3. Fight unfairly. Learn how the underdog can turn the tables, pick unfair fights and create awkward mis-matches.

Rooting for the Little Guy

Stephen Denny recently sat down with Chief Content Officer, Ann Handley, of American Express’ OPEN Forum to discuss the newly released book and its thesis: being the little guy can be advantageous when taking on larger and established competitors. Among Handley’s interview questions, she inquires about Denny’s storytelling style, his inspiration behind writing the book, and most importantly, what does it mean to kill a giant? In response, Denny answers, “In business, it isn’t the giants, with their huge budgets and legions of employees, who hold all the cards. It’s the upstarts that can pick the unfair fights, hijack the giant’s big marketing expenditures and generally make life miserable for the larger competitors…” Simply, any brand can directly challenge the giant of its category and thrive and while it’s inconvenient to be the little guy, it can also be a blessing in disguise. This insight into toppling industry giants came from close studying and interviewing of 70 global leaders worldwide, who have carried their fair share of competitive angst.

Changing the Way You Look at Pricing

In a recent blog post titled, “Three Things You Can Change Today to Topple the Goliath You Face,” Denny claims one of these steps involves making it easier for your customers to say YES. According to Denny this means, “Changing the way you look at pricing (not just the “price”) and making it easier to say “yes,” particularly in these economic times.” Changing the way you look at pricing could make or break you as material and labor expenses soar, such as cotton’s 150-year-high at $1.90 per pound. Popular upscale chains are prepared with their high margins and strong brand to increase prices without losing customers. Independent retailers, on the other hand, could be facing a lose-lose choice as they “absorb the costs and hurt already-thin margins or hike prices at the expense of sales from strained consumers,” according to a report on investors.com. Yet, Denny implores that you look at these financial and pricing difficulties in an alternate way. Ask yourself:

• How can I sample myself to customers?
• How many different ways can I give something of value away?
• What “gift” can I give away?
• Is what I do word-of-mouth worthy?

According to Denny, “The need to work smarter, with fewer resources, isn’t dependent on the state of the economy or on any sense of stability you think you have in your industry.” A quick read of Killing Giants could help you become the David of your industry.

According to the Northwest Earth Institute’s Choices for Sustainable Living, “A dollar spent at a locally owned store is usually spent six to 15 times before it leaves the community. From $1, a shopper creates $5 to $14 in value within that community.” The organization also states that when one spends $1 at a national chain store, 80 percent of the money leaves town immediately. According to AMIBA, the American Independent Business Alliance, the 2010 survey found that holiday sales for independent retailers were up an average of 2.2 percent. That contrasts with U.S. Department of Commerce figures, which show that overall retail sales were down 0.3 percent in December and up 1.8 percent in November. The survey also found that independent retailers in cities with active, “Buy Independent / Buy Local,” or, “Local First,” campaigns reported stronger holiday sales, over those in cities without such campaigns. National Independent Retailers Week is held each year during the week that contains July 21. More information is available at nationalindependentretailersweek.com.

Nearly half of those surveyed have prioritized marketing and sales as their top spending target, with 24 percent noting business development as top priority and 23 percent opting for marketing and advertising.

According to Manta’s Pulse of Small Business Survey of 766 small business owners, the majority of whom have less than 10 employees, more than half of those surveyed are likely to be considering social media in their marketing and advertising plans for 2011. Forty-two percent of the respondents said they find social media useful in connecting with their customers, and 14 percent plan to implement it in the near future.

The complete report from Manta can be found HERE.

The study, “Engine of Growth: Understanding the SMB Decision-makers,” was based on an online survey of more than 700 SMB owners, conducted during the second half of 2010. The study found that 82 percent of SMB owners turn to specialists rather than one-stop solutions providers for services, even if it means managing more vendors. Also, 65 percent use materials they receive from vendors and 59 percent use trade magazines to help them select products and services. The report was conducted by Forbes and B2B agency Doremus.

The study also found that three-quarters of small and midsize business owners rely on word-of-mouth referrals or the Internet when comparison-shopping for vendors or services.

The full story begins HERE.