Selling Retail. John Lawton.

Selling Retail.
John Lawton

This business book is better than most because the author doesn't just repeat the same thing over & over with an endless supply of anecdotes.  Yes, there is repetition and yes, there are anecdotes, but he has a few good ideas in here.

1. There is a huge difference between features and benefits.  In book land, for example, the feature of a book may be that it is a first edition, but the benefits are that the book will be a treasured bit of history that will increase in value, be a great conversation piece, add real substance to a collection, be bibliographically important, etc.  Benefits must be explained, customized, and demonstrated if possible.  Features are useless unless their benefits are expounded upon: benefits sell the product, not features.
2. Know your product, your company, and your competition.
3. Get as much information about your customers and what their needs are: why does your customer need a particular product?  Often, the customer thinks an item will satisfy his/her needs, but the knowledgeable salesperson may be a better judge of that!  Open the lines of communication with your customer.

That's the Cliff Notes version, but the book also has a lot of one-liner tidbits of good advice.  Recommended reading for anyone in sales.

Up Against the Wal-Marts. Dan Taylor; Jeanne Archer.

Up Against the Wal-Marts
by Dan Taylor; Jeanne Archer.
Amacom: 1996.

Easy-reading book with 90% self-evident information: focus on customer service, keep costs low, plan and evaluate everything.

However, their points are often backed up with examples of how smaller businesses can compete with the retail giants. They also extensively elaborate on several points -- especially making sure your employees are as focused on customer service -- and able to provide it -- as you are. Another major point, though sort of passed over, is to use modern merchandising.

There is a good reference section on simple accounting reports and types of evaluations one can & should do, some worthless examples & tips at the end, and good background info on the big chains. I only wish this were more up-to-date with online retailing.

February 3, 2005

Beyond Greed: The Hunt Family's Bold Attempt to Corner the Silver Market

Stephen Fay. Penguin: 1983.

"Silver Thursday" was the first day since "Black Monday" to earn a special designation by the financial world. This book gives a very detailed historical analysis of the events leading up to it.

Fay does an excellent job of explaining some of the inner workings of a confusing and complex issue. This history reads like a thriller, a similarity which is supported throughout by some incredible personalities. Although Fay is careful to state when he is speculating (no pun intended) on certain issues, and although he has to use a little poetic license, the real people and real events are shocking! Some of the best parts of this book involve transcriptions of dialogues between various government agencies. Also, when he shows the reader how very different the billionaire Hunt family's reality is than ours, Fay is able to paint a magical world.