December 27: How Quickly The Market Changes!
Two days before Christmas, everything on our kiosk was flying off the shelves. Two days after Christmas… you have to almost give the merchandise away– at least, that’s what customers are expecting.
When I was making projections for this last week, I estimated that we would be back down to our starting average of about $150/day. So far, that has been completely accurate. 
It’s definitely been interesting to predict & notice the trends in the mall. I’m really glad that we didn’t have any delusions of crazy sales for this week– it would have been a serious reality check if our assumption was that sales would continue growing the way they had been.
Here are other things that have changed just in the last few days:
There are more teenagers at the mall.
People feel entitled to a substantial discount/sale.
The mall is slower-paced with a different feel than it was for the holidays.
As a whole, people are more grumpy. (It’s true– I’ve heard more rude things today than all month!)
Customers are more picky with what they are buying, what it costs, and if it is really worth it to them.
There isn’t an overall “reason” to buy our products anymore, so they are only purchased if the individual has a specific need for them, such as a birthday gift, late Christmas present, etc.
Customers stop at kiosks less & don’t wander through the mall as much.
Customers are looking for a place to use their giftcards.
One of the most common things I hear parents tell their kids is, “But you already have one of those, remember?”
When the market changes, a sharp business should change its approach as well. We’re not as proactive as we could be in this area, but it’s still interesting to note the shift in buying habits, and realize that it is something a retailer should adapt to.
I think the takeaway on that is: find out what your customers want, and give it to them. If you don’t, someone else who’s paying attention will.
December 29: Choose Your Own Adventure
Even with only a few days left– 2 days and 3 hours!– it’s interesting to see how much of a “choose your own adventure” things are.
(Remember those books, where by choosing option A., you go to page 46, 71, 89, you get the results on page 153? Or by choosing option B., end up somewhere else? I love those.)
Well anyway, the concepts we chose at the beginning of the project are as applicable today as they were when we started, although after a long month, it’s pretty easy to forget about them.
For example, Principle #9. “Get Around Obstacles: Have a plethora of contingency plans– at least three additional suggestions or options in case the ideal doesn’t happen. Don’t accept the challenges at face value.”
When we were getting started, we really did find ways to move past obstacles– isn’t that as handy a tool at the end of the project as at the start, especially for dealing with tough problems?
In the past few days, we could have made choices with unpleasant consequences. For example, closing the kiosk early would have resulted in:
Early-termination lease fines.
Loss of potential sales for our vendors.
Acquiring a reputation for not fulfilling our responsibilities.
Affecting whether or not we would be welcome for future projects (both with the mall & our vendors).
I’m glad we stayed open, not that it’s been easy. Already, we can see the results from other shops that closed down early, and the effects that has had on how their business is perceived.
That doesn’t mean we’ve made all the right choices. I’ve made some personal blunders, that may bring results I’m not anxious to experience. But even with those errors, there is still a choice. Maybe not to take away the unpleasant results, but a choice in how to approach and handle the situation.
I can take responsibility for the mistakes & act quickly to do what I can to correct them, or I can blame myself & situations, and let things play out how they will without trying to direct it into the best long-term result possible.
Essentially, we can still choose to apply the concepts. “Get around obstacles.” How can we do that with only a short time left, and several unknowns, possibly big mistakes?
Not sure. But you know what? Why not give it a try– that’s the whole point of The Hundred Dollar Business… that if you apply solid principles, something good is bound to happen. And hopefully, it will.
December 30: Preparing to Rejoin Society
Sometime this morning, I checked out CNN.com, and was surprised to read about Saddam Hussein’s execution. I’m hoping that’s not too controversial to mention on a kiosk themed blog…
I guess it’s been a while since I read anything, but that’s a pretty huge international event– why is this the first I’d heard about it?
So then I was talking to Rachelle later (she’s in California), and I mentioned it to her, and she said the same thing had just happened to her! She was out somewhere and heard about it, and thought, “Where the heck have I been?!”
Just one day left. Then we’ll return to our pre-kiosk lifestyle, whatever that was. For me, that will be taking some serious down time, and figuring out what we want to do next.
Any ideas? We’ve got a couple of things we’re thinking about, but, of course we’re not going to tell you yet. 
Mall Memories 1: Favorite Blunders & Quasi-Disasters
There are many blunders & quasi-disasters to choose from– these are just my favorites. It seems we’ve been just as resourceful with finding innovative ways to have mishaps this month, too.
Blunders
Leaving my Treo on the counter and having it promptly stolen.
Not tracking sales and inventory adequately for about 9 days.
Running out of credit card sales slips and cash register tape at the same time, not being able to leave to get more.
Neglecting to bring cash for the register on opening day.
Finding out my car was the one obstructing traffic in the middle of the parking lot. (After tuning out customer service pleading over the loudspeaker all morning for some idiot to move their car.)
Quasi-Disasters
Crashing at warp speed, spilling my laptop case, skinning a knee, and then landing in mud (all at the same time).
Dumping marinara sauce all over my car & clothes, and then working at the kiosk in tomato-spattered style.
Getting an un-patch-able flat tire, driving on the spare “donut”, and consequently getting my car stuck in the snow.
A hefty garland crashes, but amazingly, doesn’t harm anyone/anything.
The security guards pretend that the keys to our cashbox had been stolen.
I avoid an envelope that was propped up against my front door, thinking it could be an eviction notice I’ve been somewhat anticipating from my landlord. (Turned out to be a Christmas card from a friend who couldn’t track me down due to the stolen phone incident.)
Have we had a good time, or what!
Mall Memories 2: Candids from the Kiosk
A lot happens when you’re meeting new people and working hard…
It took us 20 minutes to ring up our first customer– not only did we not know how to work the register, we also didn’t know how to use the credit card machine, and then we made her take pictures with us.
One morning I was laughing with Kelly for about half an hour, just because we were both so tired.
Taking silly pictures with Rachelle on her last night at the kiosk before heading home to California.
Being offered a job by a Famous Footwear manager at midnight, “Need a job? Hey, if you’re here this late, you must be dedicated.”
Making enemies of our Tmobile and Verizon kiosk friends by acquiring a prepaid Cingular phone to replace the Treo.
Unloading a car full of books and nuts during the heaviest snowstorm this season.
The goth teenager who came by almost every day to ask if we had any black tutus.
Being proposed to twice– once by someone on the night crew, and another time by someone I gave half a sandwich to.
Finding a new grandmother (the woman I’d made cry). She stopped by a second time, and I was glad she was able to leave without bursting into tears.
I wish we’d thought to take pictures of all of these things. Hopefully the imagery will do.
December 31: Closing The Kiosk In 15 Minutes
It’s true– the marathon is almost done! 15 minutes longer, and then we’re packing up the kiosk, cleaning, and heading home. It’s New Year’s Eve!
I just realized that I started and am ending my first business all in the same month. Well, I don’t know yet what we’re really going to do with The Hundred Dollar Business, but I do know we’re done with the kiosk lifestyle, at least for a while.
Did we make any money? We sure sold a bunch of stuff! The general ballpark of what we sold is around $10,000 for the month. (I don’t know if that’s classified info, but heck, I’m the owner, right?)
It’s going to be a few days yet until we get the inventory & accounting worked out, so we’re not sure about profit. I’ve been vague about some blunders that may result in a huge personal loss– don’t worry, I wasn’t kidding. We are still working on that situation, and when it’s resolved, I’m sure I’ll be blogging about it, no matter if it turns out well or not.
Whether or not we actually earn any money, isn’t it wonderful that with only 30 days and $100 starting capital, we created a situation where that much product & cash could be exchanged? (That’s not a personal pat on the back, by the way, I just think that’s the most amazing part of entrepreneurship– how much it drives the economy & creates opportunities).
I just wrote a post over on my blog about the things that I’ve learned & experienced this year. Throw that kind of energy into 30 days, and it’s pretty close to what we just barreled through. Can you believe we stuck it out? (I can’t!)
So, we made it through–holiday season, sleep deprivation, no retail experience, and all. I’m sure there’s a lot to reflect on, things learned, what we did well, and what we’ll do better next time. I’m definitely going to let things gel for a few days before I come up with any solid pros & cons– probably need a couple days of sleep to clarify my perspective!
Thank you for your kindnesses! This project was started on a stingy budget but with a generous network & support base. That has gone a long way in keeping us going, and we appreciate it.
If we “succeed” or if we “fail” in meeting our goals, ultimately, it doesn’t matter because we did start & run a business for 30 days, and we applied our concepts as much as possible.
As I was thinking a lot this week about the results, and anticipating facing a loss, I found a statement that basically said,
“If you punish an entrepreneur for starting a business & failing, how will they be encouraged to start again?”
I like that. I don’t want to be so hung up about results (good or bad) that it precludes us from continuing another business, or being pumped up about a new experience.
So instead of thinking about the outcome (which we won’t know for a few days anyway), I’m going to think instead about how amazing the experience was. In short, I’m happy with what we accomplished.
Read more on The Hundred Dollar Business Blog Archives, beginning January 1, 2007, to hear more!
