Business Chops Tip #23: Does the Stock Market Help or Hurt Sales?
The stock market has ticked upward recently‹a good thing for investors and stockbrokers. The news media report seemingly every fluctuation, with greater emphasis on downward movement than upward. Someone sneezes in the Eurozone and share values “plummet.”
Tentative funding agreements for troubled countries cause the market to “skyrocket.” Yikes! Does this have an impact on your sales on a day-to-day basis? Only if your primary target customers are equity investors and brokerage staff. They have money to spend but are distracted by market issues. Rising gas prices are a different story. It’s ever-decreasing discretionary income that drives discretionary purchases downward.
Author’s Note: Creative and technical professionals (from musicians and actors to designers and engineers) rely on their ³chops²: those skills and techniques that they use to be successful on the job. Stiernberg Consulting coined the term Business Chops to encompass those skills, experience, and tactics that you rely on to be more successful. Whether you are a dealer, manufacturer, distributor, rep, or design firm, this series includes tips and techniques for optimizing sales, profits, and growth of your Custom Retail business.