Note to self:  Faith and passion are essential.

Especially if you start a business just before the full force of a recession hits!  We saw six beverage (coffee & tea) places, including two units of a giant, go out of business since we opened our doors last July.  We are still standing.

Beyond faith and passion, you must have excellent product, a reasonable lease, great customer service and vision.  “Without a vision…”  Do you know the rest?

We are in one of the hardest hit parts of the country economically because we are a ‘bedroom’ community of commuters who bought houses in large part that sported large mortgages and required a commute to jobs that didn’t exist locally.   Builders overbuilt, lenders gave out loans that were timebombs…and the rest will be history.

We have learned so much watching established chain retailers in our own plaza and all around us.  One common things seems to be “Give coupons, lower prices,  attempt to beat out the competition with  “deals no one  can refuse.”  Guess what:  They can refuse them.  Price has always been and will always be the most easy.. and the worst.. point of differentiation,  and especially in a price war.

What we decided to do, watching others cut eachother’s margins to really unthinkable levels and (from empty spaces in plazas and malls) unrealistic levels, was to tighten our belt and keep inventories in check, move out any slow sellers, rethink our marketing plan, and do everything we could to cut costs without cutting corners.  Hopefully, we have done things that will continue to build our business and sustain us until the economy grinds forward and upward.

We have also seen that, although customers may not come as often as last  year as they feel their own personal financial pinch, they are loyal to a retailer who they know is doing everything possible to serve them well and give them a little affordable luxury.

The long, hot summer of 2009 is ready to become history but we need to continue the good practices of less waste, more service and continuous improvement as we go into the Fall.
Best to all who will be Survivors of 2009!