Surviving in a competitive bookstore business

Surviving in a Competitive Business New Mexico College Bookstore Association Dr Luis Ortiz EDC Executive Director/Professor LVSMEDC/NMHU More than Surviving…  Competing today and in the future differentiation/innovation  Doing things different  Doing things better Outline of our presentation  Our everyday business reality    Employees Management Relations Customer service   Your best competitive advantage The model bookstore   Cause “more than a mission statement” Why not your store! New Reality Recommendations Results  “Owning our own behavior” Our everyday business reality         Retail market Selling Merchandising Inventory Safety/Security Finance Employee Relations Customer Service Running a Small Business  Complexities  Average hours per week is 65  84% are passionate about their job Do you have a “Cause”?  Mission Statement no a Purpose  Now what? • “we survive, but are elders tell us we were meant for much more – a higher purpose” D.J Odawa  Ingenuity – is it in you!  Great things are seldom done alone University Core Requirements - Students      Math English Spanish History Arts      Education Social Work Science Engineering Business General Overview    Accounting  Certified Public Accountants  Certified Management Accountants  Auditors Finance  Certified Financial Planner  Certified Real Estate Agent  Appraisers Economics  Economists (trends business cycle)  Macro/Micro Data Analyst General Overview    Marketing  Marketing Research  Sales  Advertising  Customer Service Specialist International Business  International Manager  International Executive  Consultant Management  Entrepreneurs  Professional Managers … could you please be more practical  Example one  HS 25 years • 25 @ 17,000 = 425,000  UG 25 years • 25 @ 47,000 = $1,175,000 DIFFERENCE OF $750,000  Examples two  HS 18yrs to 65yrs = 47 years • 47 @ 17,000 = 799,000  UG 22yrs to 65yrs = 43 years • 43 @ 47,000 = $2,021,000 DIFFERENCE OF $1,222,000  Thus of the 45 books they buy they are investing about 3,000 in four year with a ROI of $2,018,000 What are customers/employees?  Are Customers  Next in lines NIL  No Problem – are they  A nuisance  A bother  An interruption  or are employees  Rude  Disrespectful  Aloof  Indifferent  Fake  Not sincere Customers always win!  “Make no mistake about it in the long run I will win” • The Customer   I don’t make a scene Bad attitude    I can forgive just not forget We have choices - local & online Note* it is never the person it is the organization What they want? Understanding & Caring Attitude  Tactful  Friendliness  Respectful  Nurturing  Empathetic  Helpfulness  Caring  Upbeat  Courteous  Pleasant  Enthusiasm What they want? Problem Solving Ability  Knowledgeable  Persistent  Professional  Thorough  Good  Accurate judgment  Responsive  Resourceful  Committed  Quick Thinking Facility - Customer Service  Facility Layout - Customer service area  Comfortable  Visional designation between work and customer area  Everything that you can use  Build trust with customers w/ service  Reinforce the need of treating customers right  Tickets Scheme – have a plan  Give employee all five tickets at start of the month  Employees give their peers a ticket when they see them performing great Customer Service or “going beyond the norm” with Teamwork Customer Service - Ask yourself  Is it really a pleasure to serve them?  Do you treat them as individuals?  Do I remember them by name?  Do I care to see a smile on their face?  Do I like to customer satisfaction in their eyes? Since you know what the Customer Feels         Smile and make eye contact Acknowledge the customer Neatness of workplace People come first Problem solve for the customer Be genuine and sincere Say your welcome (not no problem) Thanks customer for choosing to business with your organization Leadership  Fitting the right people in the right places  Empathy  Vision – Why not! The model bookstore Why not your store!  Big box  Online mega-store  Exploiting your space on their dime What is our Niche?  NM Students   Nationwide 15 million in Higher Ed Highest Trained – Experts  Poisoned Pen – in AZ  Instant Review Model is your Store        It is on hand or short time to get Staff has a cause CS Attractively Arranged Targeted age groups sections Inviting – what to spend some time Coffee shop Post Office The three R’s        Wholesale business Digital – e-books to Podcast Competitive knowledge Ask engage the customer Technology Web development Real Partners (Students and Profs) Events The three R’s  Computers to order and compare   Engage the Department and Manager   Customized value added products Reasons to come in   www.bestbookbuys.com Events (250 at AZ bookstore) Students learn differently  Tap that market The three R’s         Coffee shop Hangout Wireless Alumni - Graduation Sale to each on their time Gift Cards Drawing/Tutoring/School pride Entertaining Environment Enjoy your conference  Thank you!  www.drluisortiz.com  “Owning our own business behavior” ... Research  Sales  Advertising  Customer Service Specialist International Business  International Manager  International Executive  Consultant Management  Entrepreneurs  Professional Managers... placed on hold (example: Sorry for the wait that department is working on a deadline – May I please take a message - explain)   Transferring Calls (always give the call the extension number in. .. can never lose - Dr Sanchez  Stage of life  (infant, young, adult, and old age) Native Americans  A satisfying and fulfilling career  Life satisfaction Management Theories  Self-fulfilling