Auntie Kate The Resale Expert

(If you’re just arriving here at Auntie Kate’s Blog, we’re in the midst of a mini-series. Read our beginning message.)

The lesson implicit in the 3rd question of our quiz is collect all available information before you answer or act.

Where’s the available data?

If you’re trying to make a decision about your consignment, thrift, or resale shop, the first thing you need to do is to be plugged into your community. This means your Chamber of Commerce, Main Street merchant association, and any other professional group that can help you gather the facts you need. And it’s imperative not only to belong to these groups, but to get involved and participate and get to know your peers. Yes, it takes time and yes, some of these folks may not be your particular cup of tea. You should also take care to become an active part of any professional groups which address the type of merchandise you sell. For example, as a womenswear specialist, I participated in Fashion Group International and was able to help, and be helped by, the fashion movers and shakers in my city.

Grab knowledge with both hands and a whole lotta file folders. Everything counts, from TGtbT.com to the information your potential clients receive at HowToConsign.com. File whatever you think will be useful away electronically or in hard copy. Do you have a file folder of inspiring display ideas ripped from magazines? Lists of helpful hints that will enhance your customers’ life or clever angles for press releases? Data on what credit-card company offers what? If not, start grabbing!

Eavesdrop. Listen in. Tune in to what your community is talking about. Visited and introduced yourself to just about every other retailer within driving distance often? Paid attention to (sigh) the media? You want to find out what’s all the rage so you can provide it at your shop or position your business to take advantage of the buzz.

Use all resources. Listen to your CPA, your accountant, your banker, your lawyer. Heck, even listen to your mother. Have you asked your customers what they think? Explored the vast resources of your staffers…and people they know? Have you been watching the My Favorite Things category here on this blog and the “Shop Blogs” I list here to the right?

How do you know when you have enough information gathered and it’s time to make a choice?

Sometimes you have a deadline: find a new staffer before the busy season hits or decide on what type of holiday gift you’ll distribute to your clientele by an ordering date. Sometimes you have to answer a question or address a situation before it worsens (where did Mrs. Gotrocks’ mink coat go???) But other times, your gut will tell you it’s time to fish or cut bait. Business is down, I guess it’s time to knuckle down and learn to write press releases. 35% of my consignors want their items back and it’s really interfering with my ability to sell! Pull out your folders, examine the information you have been gathering all along, and make an informed decision. Don’t overthink it (Day1) and for heaven’s sake, consider the consequences as we did on Day 2. But be sure, first, you have the information you need.

Now, Tanya’s answer to the 3rd question, about which one animal is missing from the Lion King’s all-animal conference, is an excellent one. She said his Dad. Of course, this implies that we must consider the rules of primogeniture in royalty and that we accept that the animal kingdom is not matrilineal. However, this might be an example of overthinking. Or just that Tanya is as scatterbrained as I am. 😉