Wartime Business Tips for Independent Booksellers

During the past week, the U.S.-led war on Iraq became a reality. Whether one agrees or disagrees with the U.S. decision to oust Saddam Hussein, the Iraq war likely means tough months ahead for small businesses.

The length and outcome of the war, of course, is still uncertain, and the war's effect on the economy and on small businesses is also in doubt. As such, independent booksellers, like other small business entrepreneurs, may feel the need to approach their business differently -- whether it's a reworking of marketing plans, to changes in staffing requirements and merchandise highlighted on display tables.

In an effort to help booksellers make plans for the times ahead, BTW has culled, from numerous articles, wartime business tips from Microsoft bCentral. Additionally, there are links to bibliographies and reading lists relevant to the war in Iraq.

Marketing During Wartime: Don't Sacrifice Tomorrow for Today

According to the writers and experts at Microsoft bCentral, if there is one mantra that business experts seem to be stressing during the early days of the war, it's "don't panic."

In her bCentral article, "Marketing Strategies for Uncertain Times," Joanna L. Krotz, president of Muse2Muse Productions, a content strategy and editorial services firm, wrote: "The first lesson is not to shape [marketing] messages to echo news headlines. Instead, 'stay a steady course and own the place you stand in,' says Denise Fedewa, a senior planning director at Leo Burnette marketing agency in Chicago. 'Stand for the big enduring things. Be authentic and true to your brand.'" (To read Krotz's article in full, click here.)

Monte Enbysk, an award-winning business writer for Microsoft bCentral, explained in "Don't Let Saber Rattling Shake Your Business" that experts predict that the resulting economic impact of a war "will not be significant long term (bad or good), and urge businesses to resolve to get through these tough times…. The military conflict could even end up rallying the country, say some." (To read Enbysk's article, click here.)

Nonetheless, while experts may recommend that small businesses remain calm through tough times, that doesn't mean booksellers should stand pat and watch tumbleweeds drift through their store. A small business owner must be cognizant of his individual market. The key is not to mortgage the future for a temporary slowdown.

Jeff Wuorio, an award-winning writer and columnist, and author of The CNBC Guide to Money and Markets (Wiley), noted in "Fear Not, But Keep Your Business Strong" that business owners must study their business plan to see if any assumptions need to be revised. "For instance, if you were counting on a large influx of tourist traffic or planned to load up on luxury items that customers will no longer take an interest in, you may want to revise your income projections or look to other options to make up for the unexpected changes." (To read Wuorio's article, click here.)

Wuorio further stressed that communication -- regarding anyone or anything having to do with your business -- is more crucial than ever during an economic slowdown. "Talk with your sales people and staff to get a sense of what inventory is moving and what is stagnant. Ask your customers what they're buying and how world events are affecting their lives and their attitude toward spending."

According to Enbysk, a small business has a couple of advantages over the large corporations. First, it's easier for the owner to control spending, and this is significant. Experts note that "now is the time to find areas to streamline, re-examine your spending priorities and justify new hiring, travel plans and major purchases. Poor cash flow is one of the biggest reasons businesses go under." Nonetheless, he continued, that doesn't mean to stop all travel or other spending, because "you may do a lot more harm than good to your business."

Moreover, Enbysk quoted Kneko Burney, director of e-business research at In-Stat MDR as pointing out how small businesses, not large businesses, are counted on for personalized service. "Make that extra effort to show you value your customers, she says. 'Here is a chance where you, as a small-business owner, can make a difference in your community.'"

Joseph Anthony, a financial writer and enrolled tax agent, argues in "How to Plan for a Short War (or a Long One)," that businesses should not try to discount their way through a slowdown. "Lower prices aren't going to motivate clients or customers who aren't running their own businesses at full-steam or who simply are not in the mood to spend money," he reported. "Instead, focus on service." (To read Anthony's article in full, click here.)

For more on bookselling in difficult times, see the series of articles Tough Time Demand Smart Action, which appeared in Bookselling This Week shortly after the events of September 11, 2001. These are online at http://www.bookweb.org/read/5168.

Inventory and Displays

During a time of war, booksellers may want to approach inventory and/or display issues in different ways. Many consumers may feel the need to escape, and the type of books they purchase will represent that desire. Many others, of course, will be looking for more information on Iraq, the Middle East, and U.S. Foreign Policy.

For booksellers that have an increase in requests for reading on Iraq and the issues surrounding the war, one good place to start is the "Iraq Reading List" on NPR's Web site. This list was compiled from the suggestions of writers and listeners.

Booksellers might also want to check out Cecil Ramnaraine's "Children's Peace Bibliography," which is available here.