When I was 24-years old, a market research company sent me to Philadelphia to survey potential users about a new offering from General Electric Finance. Your first question may be: "Wait, Jason was once 24?" Your second may be: "GE had a consumer finance arm?" Yes, and yes. GE was once a conglomerate with its hands in many industries, from television to nuclear reactors to jet engines. GE, like Toshiba and Johnson & Johnson, has since shrunk. But the era of the ...
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Retailers have had a difficult time in recent years, as brands have increasingly circumvented them. With the advent of e-commerce websites and social media, brands are pitching their wares directly to consumers and cutting out retailers.
I’ve sometimes wondered: What if the factory decides to do the same and cut out the brands? If the retailers don’t like it, how will the brands? Some businesses are now trying this. Services like Italic allow a consumer to bypass...
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Last week, a gift shop in Alabama signed up for Bridge and had a coaching call with Jordyn, our retailer coach. Within one day, the retailer had a Bridge Store offering 15k products and a full suite of online services to serve its customers. (See the store's Bridge account here: https://shealeighs.bridgecatalog.com)
I’m even amazed at what our software can do! Our software requires a lot of parts to come together: our tech team codes the software, our coaches call the stores...
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Upon boarding my flight to Mexico last week, did I eagerly wait the arrival of the bar cart? Maybe, but not before cracking open the book Great by Choice by Jim Collins. I recommend the book because it provides new approaches to success. One takeaway in the book is not new: we’ve got to work each day. Just like the anecdote in the book’s introduction about Norwegian explorer Amundsen, we have to put in miles each day. In a race to the South Pole, Amundsen's unprepared ...
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While watching Salvage Kings, a Hulu TV show about a Canadian salvage company, I learned that the Nash automobile company’s 1920s slogan was "Give the customer more than he has paid for.” From Wikipedia, I learned the cars lived up to their slogan:
“Innovations included a straight-eight engine with overhead valves, twin spark plugs, and nine crankshaft bearings in 1930....A long-time proponent of automotive safety, Nash was among the early mid- and low-priced cars ...
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There’s a hidden month in the calendar: the 13th month. Those that follow this calendar often are very productive and lead successful ventures--as well as vex their significant others. What is the 13th month? It’s the sum of working Saturdays each week for about a year. There are 30 days in a month, and about 52 Saturdays in a year. In fact, there are almost 14 months in a year if you work Sundays, too. The 13th month is a calendar that most professional athletes, scholars, and...
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We work tirelessly to help our customers. A good spot to see this is on our sale site’s pricing page, which lists 60+ features that clients receive—often for free. (Sometimes I think that we’re philanthropists. Twenty-five percent of retail clients pay nothing each month.) Each feature is one that we’ve labored over.
But, ironically, our hard work may get overlooked and under-appreciated if key psychological insights are overlooked by me. In his book ...
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"Are you happy?” That’s a question you may ask yourself. Your parents and friends also likely inquire (I hope!). While it may seem flaky to say, happiness is important. This topic was the subject of Dr. Edward Diener, who passed away in April of this year. Dr. Diener, who studied happiness and earned the moniker “Dr. Happiness,” reported that happiness often correlates with social relationships, being with others, and not being alone.
Historically, a young tech company like ours would go out and get a seed investor, then build up to venture capital (VC) money, do a few rounds of that, and then go public—and then down the road, take some private equity money. In sum, at various points, we’d need to fill our tank with funds from different sources.
That’s changing. In today’s market, everyone wants to invest and be a part of the software-as-a-service (SaaS) revolution (our space!). Private ...
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While we’re hiring, some of our customers are still struggling within the retail environment. One client, Cathy Hulgan Designs, is closing because the new landlord wanted to double the rent and asked for a long-term lease. Cathy was a big proponent of ours. I am saddened by her store's closing. I’ll miss her.
I’ll note that her situation did bring to mind the merit of offering digital services and Bridge’s business model. Unlike a rental retail space in a strip mall, ...
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This past week I finally started doing a better job of sharing our vision. A company’s vision and how it shares this story is a key pillar in its growth. A company can grow without being a good vision sharer (storyteller), but it makes the growth slower and harder. When one gets up on stage (metaphorically) and shares their vision, with passion, it’s magnetic and can help split the sea. What medium did we add to our story-sharing tools this week? Video. I made and shared ...
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Best of Thymes, an indie store in Iowa, just closed (https://bestofthymes.bridgecatalog.com/news.cfm?id=20645). Hopefully, they’ll continue to operate online and keep using Bridge. Best of Thymes is part of an industry-wide series of closures that is affecting large and small retailers. Due to this, brands are increasing their efforts to go D2C. Brands justify this by saying that there are fewer stores to show their wares. While this is true, surely they are motivated by: 2x the margins. ...
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When we watch or read the news, we can see how important what we do is. We can see big and small retailers struggling to pivot to multi-channel Many stores had online sales that made up 40% or more of revenue, but they also had to bear the burden of retail stores. Retail stores cost more per square foot to rent, furnish, and maintain. They also cost more to staff: a warehouse person need not be a people person and a snazzy dresser; they can exhibit anger management issues and ...
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When I was speaking with the team this week, I mentioned author Dan Roam’s strategy for convincing people to change their ways. He suggested leading with data (i.e. facts), which leads to a change in one’s thinking and beliefs, which will then change one’s actions—aka they will change their website to use Bridge.
Yet, we can’t "lead" with too many facts, because as the authors of the book Rethink point out, that is like ...
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