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a sequel to being featured in the book Business Of Bliss, Beth
Siqueland-Gresch was again interviewed after four years to follow up on
whether the interim time has changed her take on business-life and what
her advice would be now to upstart entrepreneurs. Throughout the book A Shop Of One’s Own, excerpts of this interview have been woven into the body of the book. We fully recommend to anyone interested in starting a business of one’s own to read this book carefully. It is full of much valuable information which can help you avoid known - and sometimes not so known - pitfalls and strengthen your business start-up. And, to quote the book itself, "Ideas and inspiration for all these decisions abound in these pages, in the words of women who have already experienced and dealt with them. Starting you on the right path is an important goal of A Shop of One's 0wn. You are about to enter a stimulating new world. There may be bumps along the way, but if you are like the women in these pages, you will learn from them and go on to the next challenge. Welcome to what you were meant to do." Here are excerpts from the book.
Finding A Space According to the old adage, the three most important factors in retail and real estate are location, location, location. Beth Siqueland-Gresch chose to locate Grasmere, her antiques and flower shop, in Barrington, Rhode Island, because she guessed that a small community, not too far away from Providence and Boston’s suburbs, would give her a better chance than a more cosmopolitan area for the gradual growth she wanted.[...] Once you decide to take a space, you may be able to ease your rent burden by volunteering to do the renovations yourself. You may also be able to negotiate unequal payments, with smaller ones at the beginning of the lease, or a reduction in the security deposit. Be wary, however, of a landlord who is too willing to negotiate. Some locations seem to have a history of failure, and you certainly don’t want to be one of them. Planning For Success At its most basic, a cash flow statement tracks all the money flowing into your business, from sales of your wares and services, and flowing out for expenses, such as rent, insurance, utilities and inventory. In its early stages, your business may not be generating much revenue, but you will still have expenses to cover; preparing a project cash flow statement before you open your doors can help you estimate the amount of cash you’ll need. Most experts suggest estimating expenses higher and revenues lower than you expect so that you have some flexibility should unforeseen expenses arise. Once the business begins to operate, you can compare statements from month to month - and eventually year to year - to help you plan a cash flow strategy. This will help you weather slow times and take advantage of peak times. For example, when wedding work declines in the winter, beth Siqueland-Gresch of Grasmere puts fresh flower sales on hold and turns to the business of decorating with dried flowers.
Building A Staff If you decide to hire someone, ask yourself some hard questions before you begin your search. How much responsibility do you want to delegate and how much authority are you willing to give away ? If you think you need someone who can do everything you do, be aware that a high-powered person may not take directions easily. It might be wiser to choose someone who compensates for your weaknesses rather than duplicating your strengths.[...] Word of mouth - through family, friends, or current employees or customers - is one of the most reliable and successful methods of finding employees.[...] You can buy a standard job application at any office supply store, but interviews are intensely personal interactions and can take many shapes. L De Grazia asks applicants to duplicate her most popular floral designs, then hires those who accomplish the task accurately and quickly. Beth Siqueland-Gresch stresses the hard work and tough conditions that exist beyond Grasmere’s lovely selling floor, such as hauling dirt and containers in 20-degree weather for a Christmas deadline. [...] Start each hire with a trial period during which you can part ways relatively easily if things aren’t working out. With a formal hiring commitment, terminating a relationship may require written warnings and personnel file documentation, to protect against possible claims of unlawful discrimination. Review the employee’s performance with her at least once during the trial period so she exactly understands what is expected of her and where she might need to improve.
The Christmas Season A good Christmas Season can make a good year, so smart shop owners always plan some sort of holiday promotion. Grasmere, Beth Siqueland-Gresch’s floral event shop makes the store itself festive by serving hot mulled cider and cookies and even providing live music on the premises several times between Thanksgiving and Christmas.
The Internet One of the major revelations to emerge at the end of the twentieth century was that the internet wouldn’t do away with shopping in stores. Sitting in front of a screen is no substitute for going to a beautiful store with three-dimensional merchandise and people you can look in the eye. Nevertheless, potential shoppers do spend time "surfing the Net" and web sites can enhance the sales of brick-and-mortar stores. Many shop owners consider web sites an integral part of their overall business strategy. They’re an excellent way to communicate with potential customers and can be much more effective than Yellow Pages. Effective design can be an art in itself; a site that seems shoddy can do more harm than good. At the very least, it should present, in clear and easy-to-follow format, basic information about merchandise, hours, location and contact numbers - phone, fax, e-mail - combined with text and photograph that evoke the shop’s atmosphere and introduce the merchandise. The Nell Hill’s website displays merchandise vignettes and conveys the spirit of the shop with a few phrases such as: "Sophisticated yet unpretentious ... romantic while beautifully practical" [...] Grasmere demonstrates its desire to please by saying, "If you would like to come in for a consultation on a custom floral design, please, call ahead so we will be able to give you our full attention.
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