Time to get stuff DONE!

Boy do I need to get my hands on this mug! We've been blessed with a cool front that has had temperatures dipping into the low 70s all week, ensuring you need a light jacket to be comfortable. It's been a wonderful respite from the heat, but when I'm feeling all warm and fuzzy sitting around in my hoodie, it seems all I want to do is read a book or browse Pinterest for hours on end while I sip my coffee. I guess in a way it's like a mini stay-cation and I've definitely enjoyed it. But I still do have quite a long list of projects to complete and deadlines to meet, so...off the couch I go! 

Wells Fargo: the perfect example of how NOT to run your business

Ever heard of the phrase, "You're getting too big for your britches"? Well, that's what Wells Fargo has become. An over-inflated, self-important and self-serving excuse for a bank that has removed itself so far from the actual wants and needs of it's customers that it has failed to realize OTHER OPTIONS are popping up like weeds, all around them.

While, I speak only for myself and my personal experience, it certainly didn't take me long to find others who felt similarly about the banking giant as I do. In fact, I haven't yet heard or read anything POSITIVE about this bank. But I digress...

I've had my beefs with Wells Fargo, ever since I started banking with them, nearly 10 years ago, as my husband and I embarked on our new married life together. But this one finally takes the cake. Yesterday, I received an email (an EMAIL, not a formal letter or a phone call, but an EMAIL that could easily have been dismissed for spam), advising me to log into my account to view new changes to the terms of my free checking account. I'm just glad I didn't ignore it, thinking it was an updated privacy policy or something irrelevant to my daily life. What I discovered, conveniently hidden in tiny text on page 2 of the document, was that beginning September 12, 2011, my two free checking accounts were going to each be charged a $7 monthly fee unless I took advantage of 2 "convenient" options (or so the representative on the phone tried to sell it to me, when I called to demand an explanation):

Option 1: maintain a minimum DAILY balance of $1500. Um, sorry, but what is the POINT of having a checking account if you're not allowed to spend any of the money in it??? Balances like that belong in SAVINGS accounts, which I already have.

Option 2: Set up a monthly direct deposit of $500. Sorry, not going to happen. I only use these 2 checking accounts to keep money separate, as needed, from my main 'Complete Advantage' checking account, into which most of my money flows and goes.

When I called to ask why all of the sudden, after years and years, I was being charged for the use of these 2 additional accounts, I was given a sob story about how the government was limiting fees on what the bank could charge elsewhere and so they had no choice but to make up for it by charging fees on formerly free checking accounts. I countered that that was ridiculous and that I was sure I could find plenty of other banks willing to offer me free checking if Wells Fargo no longer wanted to. The lady on the phone practically laughed in my face and said that she was sure all the other banks out there were eliminating free checking to make up for the 'hardships' imposed by the government.

So, I put out a call for help on Facebook: 'Need a new bank that offers free checking' (summary). In less than an hour, I had 6 (WAIT! Make that 7) different suggestions from trusted friends. Not so difficult as you thought, Wells Fargo. Did you forget that your customers can read, write and know how to use the internet?

I also asked them, why I was NOT being charged for my main checking account. Their response was that I had a credit line, a savings account and a mortgage attached to it, which enabled them to waive the monthly fee. So, instead of realizing that I am a customer who does A LOT of business with them, and should be allowed to keep the 2 extra checking accounts for free, as a convenience, they have decided that it makes more business sense to risk losing it all over a mere $14 a month? I don't know what business school the person in charge of this sound financial decision went to, but I'm willing to bet he passed with Cs and Ds.

With SO many other options out there, I REFUSE to pay even $1 a month in extra fees because I DON'T HAVE TO! Wells Fargo has absolutely NO hold over me. There is NO incentive to stick with them for ANY of my financial transactions, when I can get so many better deals elsewhere.

When I called them back to tell them just how many other options I had come up with in less than an hour, the representative was speechless. What was I looking for?

-Free Checking (check)
-Online Banking (check)

Not so hard to find after all, Wells Fargo. I'll have you know that I am a business person too, and although I may operate on a significantly smaller scale than you do, I at least know how to KEEP my customers. It's really not hard:

-Don't charge ridiculous fees for things customers can get elsewhere for free.

-Don't forget you have to WORK for customer loyalty. People aren't stupid. Why should they PAY to stick with you and be treated as inferior idiots when other institutions are falling over themselves to take their business away from you?

I swear, every time I turn around, there is a new bank popping up on a street corner somewhere in my city. I see ads on TV all the time, offering FREE checking (imagine that). But, I guess when your head gets THAT big, Wells Fargo, it starts to affect your vision. And I, for one, have no more desire to do business with a financial institution that doesn't appreciate me and to whom, I appear merely as an annoying little ant way down below whom you will deign to continue to do business with for an extra fee. No thanks and good riddance.

The Customer is UN-Happy: What to do?

It happens. Sometimes, despite your best efforts, for an endless array of reasons, (some valid and some not) the customer is NOT pleased with their order wants you to know it!

Based on experience, here's what I recommend:

1) Calm down. Take a walk. Make dinner. Watch some TV. Whatever gets your mind OFF the problem for at least an hour. But, whatever you do, do NOT react immediately.

2) Re-evaluate. When you are ready to deal with the problem as a BUSINESS matter (and not a personal one), go back and read their comment/feedback/email several times. Make sure you understand exactly what it is they are unhappy about.

3) Think like the customer. What would YOU expect a business to do for YOU, if roles were reversed. Realize that, no matter who you feel is "right" and who is "wrong" in the situation, if the customer is disappointed with their purchase, they are entitled to their feelings. Period.

4) Think beyond the problem. Try to see how this could be a good thing for business, long-term. Have they brought up an issue that you were not aware of before and now have a chance to remedy? If so, be grateful. You may never know how many other customers did NOT voice their disappointment (but also never returned to your shop).

5) Contact the customer. Say you are very sorry to hear they were disappointed with their purchase (this does NOT necessarily mean that you are admitting blame - it just lets them know that you DO care about their feelings).

Thank them (yes, thank them!) for bringing the issue to your attention and let them know that you are going to look into it future business purposes. Think about it. Who doesn't like to feel that they are contributing to a greater good? I guarantee your thanking them for their complaint will knock them completely off guard - in a good way.

Finally, ask the customer how you can make it up to them. I like to offer free product or a replacement as the first line of defense, since it's less of a monetary hit for my business. But, if necessary I will refund. Funnily enough, I've never actually had an unhappy customer outright ask for refund - most are satisfied with free product and a few have told me it's not necessary - they just wanted me to be aware of the situation. I've even had some of these customers leave positive feedback, praising me for my "professionalism" in handling the situation.

Above all, don't allow a setback like this to get you down for too long. You may feel like a failure for a day, but realize that it will pass. It is an opportunity for growth. Nothing else.

Quick Tip: Do Less Make More

Want to know how to make more money by doing less? Don't be alarmed. This is not one of those "work at home and make zillions" scams. It's a very simple concept, actually. It's about changing the "perceived value" of a product or service so that you can charge more, without increasing inventory costs or production time.

For instance, this year I started designing and selling wedding invitations. I use the same paper to print my invitations as I do for my note card sets. The wedding invitations use about 25% LESS paper than the cards do, yet I have them priced at 40% MORE per piece than the cards. And they SELL. Very well, I might add.

There are a few things I attribute to this success model:

1) The invitations are a unique design that you can't get anywhere else.

2) I offer customization options and a level of personal service that is simply not an option with the "bigger" companies.

3) My prices are very competitive compared to similar invitations found elsewhere.

4) Wedding Invitations have a built-in higher perceived value (in the customers' eyes) due to the nature of their importance.

5) It takes me less time per piece to actually make the invitations (as opposed to the cards) and so I'm able to put that extra time savings to use elsewhere - designing new products, taking more orders, etc.

It's that simple. Think about it. How can YOU "do less and make more" too?

Playing "Secret Agents"

Lanyapi.etsy.com

Today, I took a lesson from my preschoolers to heart and stepped into the role of a "secret agent" (sans oversized magnifying glass). Of course, I was really only window shopping, but as I visited several area stationary stores to review their wedding product offerings and asked the same questions of any interested customer who had an upcoming wedding to plan, I did feel a little bit like the female spy in any James Bond movie. I was cool, calm and oh so conversational. And I have to tell you - I learned A LOT: from the names of paper and stationary suppliers to the types of products that are hot with brides today to the brand of imprinting equipment they use. Nothing the salespeople wouldn't have shared with any other savvy customer, really, but I have a feeling if I'd waltzed in and announced that I was the owner of an up and coming stationary business and was here to snoop for ideas, I might not have been received as warmly. Of course, I have no plans to drive anyone out of business - if anything I hope to have my line stocked in their stores someday. I can't afford to attend the National Stationary Show (my dream destintation!) and I feel like I've bled the internet dry of any useful information regarding getting started in the stationary business so undercover research was the next logical step. Not only was it WELL worth my time, but I had FUN!

Have You Found Your 'Niche' Yet?

House Rule No. 10 by wunderlust.etsy.com

This forum post on Etsy poses some interesting questions on both the benefits of catering to a smaller, more defined market and figuring out how to narrow down what yours is. Bottom line - unless you are mega-store with cash and employees to spread out over as large an area as possible, you will most likely get more out of your time, talents and investments if you cater to specific needs/wants of specific people groups. But, I digress...

http://www.etsy.com/forums_thread.php?thread_id=6087747&page=1

Your Best Idea Generators - Your CUSTOMERS!

Black and white prints by Shalom Schultz. shalomscottagehome.com

When I first got into this business, I wrongly assumed that it was up to me to think of all the great products to bring customers flocking in. Of course, I had to start somewhere and much of what I initially created for sale wasn't exactly flying off the shelves. Luckily a few key pieces did do well and so I took a hint and started creating more and more products for the lines that people did find appealing.

But what has surprised me most of all, along the way, is that many of my greatest "ideas" were actually born out of my customers' special requests. Someone would ask me if I could recreate a piece in different colors...or if I could add lines to their notebook's pages...or would suggest that I create a party package because if they'd found my items 2 weeks ago they would have been perfect...or wished to have their name imprinted on something, rather than the wording I had placed there.

What has happened is that I've been given an incredible gift - knowing what people want! And anyone that has been in business long enough will tell you that is an ongoing challenge. I've since expanded my shop to include many items I didn't think of originally, but that continue to sell well and I've also learned how to give people choices without confusing them in the process.

Sometimes I look back and I think, Wow, I can't believe I never thought of THAT before. An interesting trend I've been noticing lately is that many customers are requesting my art prints in all black. Being a color-lover myself, it's not necessarily something I would personally pick to decorate my home, but after doing a couple I realized that it gives them a whole new look. An air of sophistication. So, my latest business "move" was to offer versions of all my designs in black and white and, just like in times past, listening to my customers' desires has proved to be satisfying both artistically and financially.

I'm looking forward to the next great revelation.

-Shalom-

Selling In More Than One Venue...Is It Worth It?

"Revolver" by ellemoss.etsy.com

It is quite a challenge to set up a successful online business. But once you have, you may want to consider expanding into multiple "locations". Or not. Extending your influence across the net would seem to be a natural progression if you are doing well, but if you aren't super organized or your time is already stretched to the breaking point, you may want to reconsider. Then again, the potential to earn A LOT more money and exposure certainly cannot be denied.

The author of Modish Biz Tips (she specializes in featuring indie shops and offering business advice) has posed a series of questions to help you decide if expansion is right for you.

http://tinyurl.com/cbz9me

-Shalom-

Why it's a Good Thing to Fail

photo: "Geraniums" by TrilliumStudios.etsy.com

(These are some thoughts I wanted to share, after a recent discussion with some business colleagues)

"Failure will either kill you or make you stronger."

I think it's good to fail, to feel the pain and loneliness of having your dreams dashed and your hard work turned to dust...and then look around you and realize that no one can build you up again, except yourself and you can either sit in your ruins and cry forever or you can make something of yourself. Something different. Something better. You won't make the same mistakes you did before and although you may fail again, it won't be to such great degree as it was before. With each failure, you come back 10x stronger. But you have to be willing to cut off the dying parts, if you want something better to grow there (think gardening - plants pour a lot of regrowth energy into newly trimmed/pruned parts and the whole plant gets healthier over time - every time I pull a dead leaf off my geranium, a new bud grows in it's place).

They say that the the definition of "insanity" is doing the same thing over and over and expecting different results.

How this relates to business: the key to getting sales is really simple - having products people WANT at a price they are willing to PAY and creating paths for these people to FIND YOU. If you aren't selling, it's because one of these 3 key ingredients is missing. It may be painful to admit that to yourself, especially if you have been working hard, but nothing's going to change until you accept that fact and move on.

Having failed many times at various different things, I speak from experience. I haven't "arrived" yet, but I'm a lot farther along than when I first started out in this business (4 years ago) and I've learned to separate my "artistic emotions" from my business instincts. It really has made all the difference in the world.

-Shalom-

I Don't Wanna Go To Bed!

It's after 2am and I feel like I'm just getting started. All day long I rush around doing everything that is necessary to run a house and fufill my obligation to others, so that by the time normal people would be pillowing their heads, I'm itching to go into my office and have a long rendezvous with my computer. I kiss my husband and dogs goodnight, pour what's left of this morning's coffee into a mug and nuke it for a few minutes (yes, I do and it's really not that gross), make sure the pot is set to turn on at the proper time the next morning and that my husband's lunch is prepared; then I close my office door behind me and it's blessed silence without interruption for 2-3 hours, sometimes more (depending on the size of the coffee cup). I've never quite figured out what it is that turns me "on" at this time every night, but I've come to accept that it works for me and I get a lot of "my work" done this way, so why fight it? When the morning comes, it will take every ounce of willpower to roll myself out of bed before noon (and this is true whether I go to bed at 9pm the night before or 2 am the same day), so I figure while I'm awake and kicking that is the time for me to spring into action. It's amazing how much you can accomplish with several hours of uninterrupted time: get halfway through a brand new digital tracing of a sketch, redesign a whole web page, get a ton of that pesky online marketing stuff out of the way, update my business files, do some serious research on a new topic, and the most rewarding part is being able to actually cross some things off my To Do list before I do finally crawl into bed.

I spent a large part of my life up until this point (still a few years shy of 30) trying to figure out why I was so different from other people, and was constantly miserable. But when I realized that true beauty is in accepting yourself for who you are and then expressing it joyfully, I became a much happier person. Staying up late to get things done is just a small part of how I feel I've "matured" as an individual, but now that that's out of the way and I have found a consistent schedule that works for me, I am now free to work on all the other parts of me that need "polishing". Even if you don't know exactly where you're going yet, once you start to figure out who you really are, you'll know you're at least headed in the right direction.