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Value Up! Eliminating Value Confusion - Part 2

Value Up! Eliminating Value Confusion – (Part 2)

By Sid Raisch

In the first part of this article we discussed why the word “value” is easily misunderstood, and how this misunderstanding confuses our people. CLICK HERE to read it.

Now that we've cleared up the definition of value, let's use the word in its highest value. The best way to do this will be to get clear on the levels of value.

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Eliminating Value Confusion

Eliminating Value Confusion

By Sid Raisch

We need to clear up some confusion over the word “value”.

We Americans are a confused lot. Our language does this to us. Some other languages have one meaning per word. We have many.

Dual meanings are confusing. I have learned that it is a sign of intelligence when toddler’s pickup dual meanings of words. Understanding of multiple definitions of a word is also a sign of intelligence among adults. So let’s understand the simple word “value”, in all its wonder, and amazing complexity, beginning with the textbook definition.

I have no idea where the dictionary is, so we’ll Google. Maybe the definition of value has changed with the Internet? Right from the beginning, the cause of confusion is evident. Value is both a Noun, with two definitions, and a Verb with two additional definitions.



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Death by Inventory

Death by Inventory

by Sid Raisch

Inventory is the bane of a retailer’s existence.
I bet you’re wondering what the word bane means now that it has been connected directly to you.
(The source or cause of misfortune, unhappiness, frustration, or anxiety, usually used hyperbolically. – The Free Dictionary)

Inventory is a Necessary Evil
Gaining a clear perspective on inventory is the first step to taming the monster. Inventory is inherently evil in that without tightly defined and rigorous management and manipulation it always becomes a problem.


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The Retailer of the Future

The Retailer of the Future will likely be a Retailer of the Past — just the most efficient version therein.

by Sid Raisch

As you know, there is a lot of noise in the media these days. It’s nothing new really. There’s always been a lot of noise. But it is noisier when it directly affects you. I’m talking about business noise, I mean news, in this instance.

There is a considerable amount of business news about happenings with retail chains, possibly because it is the most visible business segment, and at the top of the supply chain of other segments such as manufacturing of the things sold at retail.

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Denial is Under-Rated?

Denial is Under-Rated?

by Sid Raisch

She actually said this? I could hardly believe my ears, and had to ask, “would you please repeat what you just said?”

She said it again, “Yes - denial is under-rated as a coping mechanism.” Having just met her for the first time, I was both aghast, and willing to give her the benefit of doubt. Maybe she had it backward in her mind? Sadly, the further the conversation went, the clearer it was that she actually believed herself – that denial is a good coping mechanism. But of course, she’s dead wrong.

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White Oak Gardens – Grand Re-Opening

White Oak Gardens – Grand Re-Opening

by Sid Raisch

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Pricing for Fun and Profit

Pricing for Fun and Profit

"Danny said that a pricing tactic I shared in this webinar "is the most important part everyone needs to hear". While it is true that this tactic is important, I feel that the most important thing that was shared is the strategies required to set prices responsibly and professionally. 100% of your profit comes directly from the prices you charge. If you'd like (or need) stronger profits now and into the future then listen to this webinar to learn the strategies and tactics to become a Pricing Professional."

 

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2017: Psychological Pricing for Perceived Value

 2017: Psychological Pricing for Perceived Value

by Sid Raisch and Steve Bailey

READ FIRST: "Prices should be set based on your ability to create a value perceived by your customer, instead of the common practice of applying a simple mathematical factor to the cost of goods."

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The Death of Discounts

It is Time for the Death of Discounts.

Some of you are irritated with me already. But if you hang in there we may come together on the idea.

Let's start by looking at why our culture encourages retailers to discount so much in the first place.

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Being a Survivor

Will Yours Become One of The Last Garden Centers?

This is the 21st Century already. I'm not sure which century it was that life was breathed into the first independent garden center, but we've been around a good while, and if I can have anything to do with it, we aren't headed toward extinction anytime soon. This is in spite of the fact that so many garden center owners and managers are still firmly attached to their flip phones - so last century.

 

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Five Profit Robbing Pricing Fails


Friends...You probably know a lot about pricing. After all, you have many years’ experience doing just that. Think about this: pricing the way you know how is worth little more than one year of experience repeated over and over. You’ve probably heard the phrase that 

“it ain’t braggin’ if it's true." 


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Begin by Getting Inspired - Sid Raisch

Last week I challenged you to get inspired and then begin working on your 2016 plans. The video here is of Bert Jacobs, co-founder of Life is Good, and co-author of Life is Good, the Book that I recommended to you last week.  If you failed to order the book CLICK HERE to do it now. I hope you'll invest 13.5 minutes to watch the video (click on image on left), and that you'll invest in others by watching it with them.

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Where the Magic Happens - Sid Raisch

Where the Magic Happens

by Sid Raisch

On Wednesday during The Fall Event, Sid gave a challenging presentation titled "The Magic of Streamlining Your Business" and provided a path to making our businesses more simple, more enjoyable, and more profitable. While we can't bring you the full experience of being at his presentation (or the entire Fall Event), we can give you some powerful high points. And of course, if you were fortunate enough to be at The Fall Event, this is a recap to make sure you are working on this in your business operation!


 

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