Updates

Work at Nancy O's has consisted of advertising through Facebook, organizing and some inventory.
For Facebook advertsing we take pictures that will promote what's new or entice people to stop in. Last week I took a lot of pictures of our Valentines merchandise and promoted Nancy's stock.
I also went through Nancy's catalogues and threw out the 2012 and older. It is good to go through the store at the beginning of the year and weed out what is truly needed. The store keeps improving in its organization. Jane(a coworker) brought up that it is important to keep in mind what supplies you already have before always going out and buying it: such as nails, pens, basic items needed for functioning.
I have had some practice with inventory. It became obvious just how much organization and memory play a part in keeping up with inventory. 
Nancy has been full of great tips lately. She remarked that it is exceedingly important a store always keeps up with its labels; right away  every item should be labeled, so confusion does not arise over price. Nancy also brought up how important it is to never do bookwork during open business hours. Focusing on one at a time will create efficiency and save time. Which brings up her advice do take things one at a time. Focus and motive is lost when trying to do three things at once. This week Nancy and I also discussed the frustration over shipping. Shipping has become ridiculous in rates and affects her selling price. In a small town it can be hard to price things because it is important to make a profit and not overcharge at the same time. My favorite advice was when we were locking up for the night; I went to shut off her lamps and lanterns. But Nancy stopped me and said the electricity bill is worth keeping these things running all night, because it attracts customers. Seeing the shop all lit up when it is dark out, sparks curiosity in passersby and she has even had someone tell her they came in because they saw it lit up at night and wanted to see what was actually inside.
I also had the opportunity to attend a community function with Nancy where she mingled with people from our town. These events give Nancy the chance to casually promote her business and I thought it was smart she took advantage of this occasion.
All of those business owners out there, I hope you can benefit from her advice as well!

FIrst and Second Day!

I have been swamped by speech and debate as well as homework but my first days have been fun as well as overwhelming. A local business owner will go through business plans, how to run inventory and books, the ways of customer service and advertising. I am acting as an assistant to help her with her small retail business in exchange for her wisdom.  This trade between her and I will help me learn by observing and learning hands on, as well as her teaching me about the business.
My "mentor", Nancy, is super personable and positive. It is fun to work with her because of this energetic and encouraging atmosphere. Her interior-design-oriented business is so cute and I could buy a vast majority of her merchandise so we seem to have the same style. Or maybe she is just that good at targeting her customers and what is up to date. That is the other thing, Nancy is very up to date, with a fancy phone she is fully capable of utilizing, a Facebook page for her business, as well as Pinterest. She is trying to reach out and have her business known and I think this is crucial for business. She always makes a point to connect with her customers face to face. She is very good at chatting and always has the most auspicious things to say.
Organizing has been my main concern. These first few days I especially witnessed how easy it is to become behind on keeping yourself organized and tidy, on top of all of the other demands when owning a store. So much time is consumed just in running a store.
Our small town is definitely centered around it's summer season, where tourists flock to our beautiful lake and landscape, so the winter can be quite rough and simply hard to get through. I am interested to learn about knowing when to hire help when times are rough; you do not want to spend too much money paying an employee yet everything must continue to run smoothly and do not want to overwhelm yourself.
Today, a woman shared her portfolio with us and it was so interesting to hear how she got into interior design and how she worked up to where she is now. It was apparent her portfolios have taken her hours upon hours but are totally worth it because she uses this tool to promote herself. That was a big lesson today, to own a business you MUST believe in yourself. You have to promote yourself and when things go wrong, you have to pick yourself up and just learn from it.
I am hoping to learn all about business plans when I visit tomorrow in order to write a mock business plan while Nancy is away for a couple of weeks.

Hello all!

I am learning all about starting and running a small retail business for my senior project and would love to share the ins and outs! Enjoy:)