This is just ridiculous. The President's day sale ends February 29th for some forgettable car company that wants me to rush in and buy before the sale is over. ( I just googled it. General Motors is the culprit.)
Excuse me, but this is a mindless bunch of drivel that shows a lack of creativity and consumer insight.
Wonder why consumers don't respond to endless sales or non-stop sales? Wonder why profits are down?
It's sale-a-bra-tion fatigue.
If you always have a "special" sale, then a sale is routine, boring and simply not special.
If the best you have to offer is a low price, then you will get price shoppers as customers, (until they find a better price elsewhere).
If you want to build loyalty, and a relationship with your customers, then you better offer more than non-stop sales.
By the way, other merchants kept their Presidents day sales to a more reasonable time frame this year:
Sears and K-mart did 5 day sales.
Macy's did a 2 day sale.
Circuit City did a 3 day sale.
A one day sale would have been more "Abe" like.
And speaking of Abe, look at this from Harvey Mackay last week:
When I was a student at the University of Minnesota, I carried around a 3 by 5-inch leather-bound dictionary. I still remember the cover, with a picture of Abe Lincoln sitting on a log with an axe beside him. The inscription read: "I will study hard, and some day my chance will come."
With President's Day occurring this week, I'd like to share some of the business and life lessons that I've learned from George Washington and Abraham Lincoln. Their fundamental wisdom remains pertinent and useful today. (If the language seems sexist, please consider the times.)
Whether as general or president, George Washington knew plenty about leadership. The following passage, taken from a 1775 letter, talks about how to treat the people who have to follow you into battle. The advice holds up well, especially when put into a business setting: "Be strict in your discipline; that is, to require nothing unreasonable of your officers and men, but see that whatever is required be punctually complied with. Reward and punish every man according to his merit, without partiality or prejudice; hear his complaints; if well founded, redress them; if otherwise, discourage them, in order to prevent frivolous ones. Impress upon the mind of every man, from first to the lowest, the importance of the cause, and what it is they are contending for." Check out Washington's Rules for Civility and Decent Behavior in Company and Conversation. Interesting—and still true today.
Thomas Jefferson wrote an evaluation of Washington in 1795: "He errs as other men do, but he errs with integrity. His mind was great and powerful, without being of the very first order...and as far as he saw, no judgment was ever sounder. It was slow in operation, being little aided by invention, but sure in conclusion. He was incapable of fear, meeting personal dangers with the calmest unconcern. Perhaps the strongest feature in his character was prudence, never acting until every circumstance, every consideration, was maturely weighted. His integrity was most pure, his justice the most inflexible I have ever known...."
Washington had some financial moxie as well. As commander in chief of the American forces, Washington refused a regular salary and worked for expenses only. He came out substantially better than he otherwise would have. That's my kind of guy! When he was offered the U.S. Presidency, he volunteered to work for expenses again—but this time Congress insisted he have a fixed salary.
For the record, Washington was one of the richest men in America. At his death his holdings were worth about half a million dollars and included: 33,000 acres of land in Virginia, Kentucky, Maryland, New York, Pennsylvania, Washington, D.C., and the Northwest Territory; $25,000 worth of stocks; 640 sheep; 329 cows; 42 mules; and 20 workhorses.
Not true for Abraham Lincoln. He failed in business, lost numerous elections, lost his sweetheart and had a nervous breakdown. But he never quit. He kept on trying and became—according to many—our greatest president. As with so many great achievers, Lincoln faced numerous challenges. In fact, he was forced to borrow money for train fare to his own presidential inauguration!
One of Lincoln's neighbors in Springfield, Ill., heard children crying in the street and rushed out of his house to investigate. There he found Lincoln with two of his sons, both of whom were sobbing uncontrollably. "Whatever is the matter with the boys, Mr. Lincoln?" he asked. "Just what's the matter with the whole world," replied Lincoln. "I've got three walnuts, and each wants two." Some things never change.
Lincoln once was criticized for referring to the Confederates in kind terms. The woman critic asked the President how he could speak generously of his enemies when he should rather destroy them. "Why, Madam," replied Lincoln, "do I not destroy them when I make them my friends?"
Most of us are familiar with Honest Abe's dry wit and wisdom. On persistence, he said, "I do the best I can, I mean to keep going. If the end brings me out all right, then what is said against me won't matter. If I'm wrong, 10 angels swearing I was right won't make a difference."
We get a real insight into Lincoln's stand on character with this gem: "Nearly all men can stand adversity, but if you want to test a man's character, give him power."
Could you pass the test?
Mackay's Moral: I cannot tell a lie: We can—and should—learn plenty from these two presidents.
Miss a column? The last three weeks of Harvey's columns are always archived online.
More information and learning tools can be found online at harveymackay.com.
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