Comment on Can Local Businesses Compete? by Financial Slacker.
It really does come down to service. Where I see smaller businesses struggle is when the owner isn’t there. The smaller businesses don’t typically have the resources to hire high quality managers, and they can handle the responsibilities themselves. But when they can’t be there for some reason, often the quality suffers.
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Can Local Businesses Compete?
Thank you for the compliment. I’m pleased to have you as a reader.
I look forward to interacting.
Can Local Businesses Compete?
I would say the book business has been hit harder than other retail businesses.
However, in this particular case, my parents’ bookstore has been good to them over the years. But after 25 years, they are ready to move on to the next chapter in their life. As such, I’m really looking at this as a positive for them and I don’t think they have any regrets.
Can Local Businesses Compete?
I agree. It really doesn’t matter whether a company is large or small, it must provide great customer service.
There’s a small restaurant business in town that sells simple Mexican food mostly to go – breakfast burritos, posole, green chile stew. I went there the other morning and they had four drive up lanes with at least 10 cars in each going through. But it only took about five minutes to gets served. The food is outstanding. The service is super fast. And the staff is friendly. And it shows in the popularity of their business.
Recent Comments by Financial Slacker
Buying a Business Requires Life Changes
Thanks for commenting and the compliment, Mr. Prairie FIRE.
In my experience with small business owners, most are welcome to hearing purchase proposals so long as they are legitimate. But while they are open to hearing what you have to say, they are also hesitant to admit they would consider selling if they think word could get out to their employees, customers, vendors, or others.
One approach is to begin building a relationship with the owner. Start using the company on a regular basis. Strike up a conversation with the owner. Ask questions about the business. How did they get started? How long have they been in business? What are some of the challenges they face – getting customers, keeping staff, etc?
This approach may not yield immediate results, but in relatively short time, you should be able to introduce the idea of a sale and get a feel for whether the owner is interested. And even if they’re not interested at the moment, they may be in the near future.
Thanks again for commenting and please let me know how it goes.
Creating a Better Life By Spending Less Not Earning More
Thanks for stopping by and commenting, ZJ.
It has taken me 20 years to get to that point where I only take on the business that I choose. In additon to getting to a financial place where I can be selective, I’ve spent a large portion of that time figuring out what it is I want to do and what type of client I want to work with.
I wish you the best in your journey.
Confidence Can Be Learned
Thanks for stopping by and commenting, Sam. I always love your perspective and your words tend to get me thinking.
I haven’t been away from the corporate world quite as long, but after over two years away, I am starting to gain confidence in this new lifestyle. It has taken me a while as the corporate life was what I knew for 20 years. And in that world, your schedule and priorities are mostly dictated by the company you work for.
But when you’re on your own, you start realizing that the best person to rely on is yourself.
Thanks again.
Creating a Better Life By Spending Less Not Earning More
That’s the decision we all make whether it’s intentional or not. Freedom in the future or discretionary spending today.
Avoid the Home Warranty Repair Scam
My only other appliance repair was actually a dishwasher that I tried to repair myself. Unfortunately, after ordering and installing the wrong part, I did finally get the correct part installed. But the new part didn’t fix the problem.
I’ve been working around the issue but at some point, I’ll probably need to bring in someone to actually repair it.
And I still don’t think it will cost $500 to repair.
