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Welcome

Ever notice that the world is full of experts who have never actually done what they are "experts" at?

Many a business professor has never actually managed a business. Most business courses stress defining business terms but never actually teach the concepts of running a business.

This blog hopes to teach some of the terms and, at the same time, give some examples and lessons on running a business.

There will also be reviews of books on business listed here. Sometimes companies give me books to review. Regardless of where I get the book to review, I will give my honest opinion. If I was given the book to review I will always disclose that in the review.

I seek to start posting on 02 January 2012. Some of the posts will be recycled from some of my other blogs.

The reader should know that there is no one “Right Way” to conduct business that will apply in all situations. This blog is meant as a place to start. It is hoped that you will perform further research and consult professionals experienced in your particular business before making any important decisions.



Showing posts with label Ethics. Show all posts
Showing posts with label Ethics. Show all posts

14 February 2012

Saving Face


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Happy Valentines Day
Some vendors write contracts with stores which basically agree that if you sell a particular amount of their product in a particular way you will get rebates or get the merchandise at discounted prices.

Our Western Auto Store in Iva, South Carolina sold cigarettes at exactly what we paid for them. When we started out, we were selling three packs of premium brands, like Winston and Marlboro, for only 80¢. So, we sold a lot of them.


One day the representative from a cigarette company informed my father that they had raised the number of cartons we had to sell in order to receive a rebate check. We more than satisfied this minimum, yet the idea that the bar had been raised ticked my father off. He kicked a hole through the wooden checkout stand we had. He then hauled everything that mentioned their products to the back of the store. On things he could not move easily, he spray painted over the names.

Later, when he calmed down, he realized that this change really meant nothing as far as we were concerned and he decided he would talk to the representative the next time he came around. He told me this so when I ran into the representative at another store and he asked me how things were, I told him that Bruce had calmed down and maybe he could talk with him.

I did not know it, but the representative’s supervisor was with him that day. When they showed up at the store and the representative introduced his supervisor to my father, my father got all upset. I could not understand why he was mad again over something that really did not change anything as far as we were concerned. I asked my father about this later and he explained that if he signed back up with the company while the supervisor was there, then forever the supervisor would hold it over the representative’s head that he had saved the biggest account. However, if he waited until the representative came back alone and signed up then, the representative could claim the victory as his own.

Bruce, my father, had a unique read on people and, in this case, he was right. You have to help people save face whenever you can. This, too, is part of being a truly good merchant.

Disclaimer
The opinions or advice listed in this blog or website should be used as a place to start only. It is not a substitute for the use of a professional.
Please be sure to consult your attorney and/or accountant with any specific questions.
There is no one right answer to any business question that will cover all circumstances.
Please Visit McClendon Enterprises

13 February 2012

McClendon Studios Presents: Bowling Man



 

McClendon Studios Presents

Bowling Man


My father used to tell stories of when he was working for National Cash Register.  This is one of those stories.
He called on a man who owned a large company of stores who was a prospect for buying cash registers from my father.

It turns out that the man had not been bowling in a while and really wanted to go bowling soon. My father agreed to take him bowling while they talked over the possible purchase of cash registers.

 Bowling Man
While they were bowling, the man partook of many beers which my father paid for.  The man became a little drunk and signed the largest order my father had ever had in his life.  All my father had to do was mail that order and the man was obligated to purchase the cash registers. After all, he had a signed contract. This was the 1960’s and the fact that it was signed while intoxicated was not a matter the court would take up anyway.

Well, my father thought about it all that night.  The next morning, bright and early, he went to see the man at his office.

My father handed the man the contract and told him that he was legally obligated to purchase the cash registers but that he, my father, thought that it would be much better if they tore up that contract and started over.

Well, the man was very happy and tore up the contract. He and my father then sat down and negotiated a much smaller order.

My father lost on that sale, but for the rest of the time my father was with
National Cash Register, he would get a purchase order in the mail for every single cash register ever purchased by that company and every paper product, ribbon, and other accessory related to any product that National Cash Register offered that the store needed.

Years later, that act of honesty paid off for my father in a way he did not expect.