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The Case Study Guide for this Episode
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Overview Transcript Case Study Video

Bring In The Hard-to-find. Assuming you understand your target market thoroughly, the next task you have is to find things they will want to buy that they can't find any place else near by.

Topic for Discussion: How does Carol accomplish this?

Answer: She gets on an airplane. She walks and walks through the markets of the world to find the hard-to-find. Also, she cultivates close ties with manufacturers and manufacturers representatives. She pays her bills on time so everyone will ship her on time and she even provides feedback from her customers to her manufacturers.

The buying part of retail seems from the outside to be the most romantic. But, like everything else, it is very hard work.

She also warns that she doesn't buy what she likes. She buys what she thinks her customers will buy. As we learned from Medallion Financial, stick to your niche and you'll get rich.

continued on next column....
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Key Ideas of this episode Small Business School
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1. Start Young
2. Use Money to Borrow Money
3. Stay Focused On Your TargetSmall Business School
4. Build A Database
5. Bring In The Hard-to-find
6. Encourage Employees To Take Charge
7. Turn Workforce Planning Upside Down
8. Treat Employees Like Family
9. Transform Your Entire Neighborhood
10. Be A Team Player
11. Create Event-driven Traffic
12. Love People
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You think about it: What do you do for your customers that no one else does for them? If you can't answer that question, think about what you could do for customers that no one else does.

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