Entrepreneur´s Journal

Casauri is not only in the bag business, we are in the hospitality business, because we cater to our guests, i.e., customers. I am looking at Casauri through the broad prism of hospitality since this semester I am teaching Introduction to Hospitality at my local state college. I love this subject as it deals with all those warm and fuzzy soft skills that we all need to be successful, but are rarely taught in school. So I am thrilled to have the opportunity to do that and to share unique insights with my students on this topic.

Soft skills are also known as interpersonal skills. The ability to interact well with people and to be considerate of their needs and comfort. Hospitality and being hospitable does not only apply to the expected venues of hotels, restaurants, and transportation, but also to any business that interacts with the public. It is incumbent upon the business owner, or the “host” to be hospitable and make their “guests” (customers) feel welcome at all times.

So how do we make our customers feel welcome? There are many ways to do this. One important way is by interacting with them and letting them know that you value their opinion and feedback. By so doing, one pays the respect of listening and internalizing the information received so as to offer a better product or service that will encourage customers to not only come back to you, but refer their family and friends.

It has been said that people are more likely to share negative experiences than positive ones. Hence, the effect of a negative experience can be multiplied and compounded several times over. It is unavoidable that during the course of business things may occasionally go wrong, but the key rests in how well the matter is resolved. That is the basis upon which service is most often judged from the customer’s perspective; how a problem is fixed vs. what went wrong. This creates the wonderful opportunity to turn a potentially negative situation into a positive one.

Hospitality involves basic consideration for others. Exceptional hospitality goes above and beyond to insure a satisfied customer, even if it costs a little extra in the short term. In the end, that customer will thank you by coming back again and again. It is the long term approach which is the bedrock of hospitality; knowing the goal is to have a customer for life, not just for one isolated purchase. This is the type of thinking which has created the Casauri household.

Do you have special tips on how to be hospitable with your customers? Please share them with us here or on Facebook or Twitter.

Charlie is the Casauri cat. By observing his actions, small business owners every where can learn a thing or two, especially about persistence, determination, and sheer will power. 

The first lesson to learn from Charlie is that he knows exactly what he wants and he focuses relentlessly until he gets it. That is the first step in order to achieve a goal, knowing what you want to achieve. It may sound very basic, but the more clearly goals are defined, the more likely to achieve them.

The second lesson is that never giving up is ingrained in his DNA; he may back off for a while, but you can be rest assured, he will be back.  A cat’s tenacity mainly has to do with getting fed and he is pretty confident that will happen if he keeps looking up at you long enough. In business, sometimes it is important to know when to give up, or not waste any more time. This is not quitting, to the contrary, it is re-allocating assets, your time, to a more profitable pursuit.

The third lesson from Charlie is take it easy. He sure knows how to take a good nap and to relax.  He finds a comfortable spot (my desk, shelf, box, Casauri iPad case) and curls up and off to the arms of Morpheus he goes. There is a time to play, to eat, to work, and to sleep. We can all benefit from that advice and make appropriate time for each.

Do you have an office pet? Does this pet have an affinity for Casauri bags? Send us your photos, videos, and stories via Facebook or Twitter or YouTube.

One of the benefits of a tough economy is learning how creative we have to become to survive and thrive. Creativity is usually a key to success and longevity; the ability to reinvent or create from scratch. Bartering in and of itself is not a new idea since it has been around for a few thousand years now; however, how it is applied is where the opportunity to be creative arises.

One of the main incentives of bartering is to preserve cash and to exchange items of equivalent value that are in demand. When embarking on how to go about bartering, start with thinking about your network of contacts and what services or products they offer that you need. Here are a few examples of how Casauri has creatively used bartering.

A few months ago we needed some new business cards. Printing nice cards that have rounded edges and other types of customization can get a bit expensive. So I reached out to a friend of mine who is also a small business owner and printer in Miami and asked if we could barter a bag for some cards. She was very happy to do it since she needed a new 13" laptop bag.  There was clear mutual benefit in that we both got exactly what we needed without outlaying cash.

Another example involved a conference that I wanted to attend but the fee was really high and out of my budget. However, I realized that it was an important conference that would be worth attending and started to think of creative ways to overcome the fee obstacle. I decided to take a chance to contact the conference organizers and ask if they could use speaker gifts in exchange for a conference pass. They were eager to have the opportunity as well since they did not have speaker gifts and our products (spacious business card cases) perfectly complemented their theme. In the end, both of us received substantial benefit from the interchange without substantial payment.

By the way, a really great place to barter is at trade shows and with your wholesale customers. We have bartered our bags for soaps, candles, books, and even objets d'art!

The one thing that often holds people back from bartering is the fear of rejection and being told no, which may initially hurt feelings, but that’s about the extent of it. Ask and ye shall receive! The good news is that once you start bartering, it is actually a lot of fun and really helps with cash flow, another important key to small business success.

If you have some creative bartering ideas or examples, we would love to hear about them. Drop us a line below or via Facebook or Twitter.

Small business is the engine of our economy. This is acknowledged to be a virtually unanimous fact with over 23 million small businesses in the U.S. according to the SBA. Therefore, with a population of about 311 million in the U.S., small businesses represent 9 per cent of the population. This is significant considering that small business is the place that is generally relied upon for job growth. But what does it truly take for this engine to run?

One example is the Shop Small initiative being promoted by American Express and other companies to encourage shopping at small businesses on the day after Black Friday.  Encouraging the support of local small businesses is certainly a step in the right direction and one of the most important pieces of the small business puzzle – we need people to buy our goods in order to grow.  However, there are more pieces to the puzzle and we need sales beyond one day. We need support every day on multiple levels.

Small business is the backbone of the U.S. economy is another popular expression. It is also a fact that if the backbone does not have support, it will collapse. The weight of the world is on our shoulders but many small businesses do not always get enough support to thrive and grow to the extent that is needed.

Many opinions have been made regarding the support provided via various government bailout programs for large banks and automotive companies. So where do small businesses fit into this scenario? If small businesses that were in need of a capital infusion received a fraction of the funds which larger businesses received, it is highly likely the U.S. economy would have overcome our economic malaise long ago. Instead, we are given a band-aid when a blood transfusion is required.

Another factor which is affecting small business is that we are often put into the same box as big business. It is also a commonly held view that one of the reasons our economy continues to stall is due to “businesses holding on to their vast reserves of cash and not hiring”, as result, our economy cannot grow. This statement is only true for certain businesses, which tend to be big, not small. Many truly small businesses are cash strapped and do not have the luxury to horde cash in any form. In fact, small businesses are often caught in a vicious cycle of debt, sluggish cash flow, and reduced sales.  Small business is stuck in the middle between banks who keep the purse strings tight and big businesses who demand stringent trade terms.

Nonetheless, not all small businesses experience these problems. There are some small businesses that do have a lot of cash and no debt.  However, they could be considered the exception in this economy.

The relationship between small businesses and big businesses can be likened to the relationship between a boyfriend who will not commit to marrying his girlfriend (or vice versa).  The boyfriend wants all the benefits of a wife without the responsibilities of a husband. This is a recipe for disaster in love as in business. How this plays out in business is as follows: 1) no commitment to inventory; 2) no commitment to timely payments; and 3) no commitment to keeping you around in the event “something better comes along”. How can you project cash flow and growth with such tenuous prospects? This is exactly what is happening to many small businesses that depend on big businesses for their survival.

So how do we break the cycle? As stated above, shop small and intentionally support your local small business owners on a regular basis. In addition, there are specific steps that can be taken to increase the probability of success on both the macro and micro levels. We need holistic policies in place that take into account the entire infrastructure of doing business; not just a one-sided perspective. Also, our policy makers need to spend more time taking the advice of those of us actually in the trenches, instead of disproportionately relying on theoreticians who construct models, but have little experience meeting payroll.

Some of the holistic macro policies that would help include: 1) Loan modifications across the spectrum – business loans, student loans, and mortgages. If you can’t pay your mortgage, it is highly unlikely that you can afford your business loans. For example, a more robust loan modification program for small business loans similar to those offered to homeowners (Making Home Affordable) and students (IBR program) would help address the struggles that face many small businesses with monthly loan payments; 2) Access to affordable capital – offer real attainable grant incentives and favorable loan opportunities to grow the business while re-structuring debt for which many businesses would not qualify under traditional banking scenarios; 3) Re-adjust mindset – this is not business as usual; something has to give and compromise is required on all fronts, from bankers, suppliers, and customers; In order for me to gain, do you have to necessarily lose? The answer is an unequivocal no. There is enough for us all to win and compete. There has to be a commitment to mutual benefit, mutual growth, and a vision that extends beyond next quarter’s profits; and 4) Depend less on tax cuts to create jobs– which only help if you have a tax to cut in the first place. Payroll taxes should absolutely be abolished (or significantly reduced) as it is one of the most egregious anti-job creating devices ever known to man. However, simply eliminating payroll tax cuts will not automatically create jobs. Depending on payroll tax cuts as a job creator is a myopic view that is not a quick fix. There is a lot more involved to create a job than a tax cut. Just because a company has cash is not sufficient reason alone to hire; there needs to be tangible benefit to the company that will justify hiring.

On the micro level, here are some suggestions: 1) Cash Flow – without it, we’re dead - Cash is King; small businesses need to have in place practices which encourage free cash flow.  Buying what small businesses sell is critical.  In addition, opportunities to do business with larger companies should not require oppressive payment terms that hinder the profitable daily function of a business and force the assumption of more debt. How can you pay your bills today, when you receive payment ninety days from now? It is not sustainable for a small business to play the role of banker to larger companies.  2) Margin Protection – many small businesses usually have to adhere to the dictates of larger companies who have the bargaining power to demand margins in their favor; even if the margin requirements are detrimental to the small business; 3) Small Business Cooperation – more small businesses should seek to work with each other and partner to form strategic alliances. This is critical and lessens the dependence on larger entities; and 4) Speaking Up – inform policy makers and stake holders about the realities of running a business and what you need to achieve success.

As small business owners we have to let people know what it takes to be that “economic engine” that everyone is relying on to create jobs, invigorate the economy, and save the world. The small business “check engine” light is on and flashing. We ignore it at our own risk but pay attention to our mutual benefit.

Small Business Offer:  Casauri is running a 30% off  special small business promotion on all our laptop bags, iPad cases, and travel bags until November 30, 2011 - use coupon code:  SBS30 at www.casauri.com. Thank you for your support!!

Stop being nice!

Unleash the potential of your business, think broadly and globally

One of the keys to a successful business, as it is for a winning team, is to have the right people doing the right job at the right time – such alignment involves both an offensive and defensive strategy.

On a recent business trip that required some shrewd negotiations, my sister Helena made the astute observation that we needed to play Monopoly in order to practice. When we were little we used to play Monopoly with my brother Andrew, who was ALWAYS the banker. So the two little sisters were pretty much at his mercy.

Many of us are familiar with the Biblical story of Lot, the nephew of Abraham, whose wife turned into a pillar of salt because she looked back on the city of Sodom and Gomorrah before it was consumed in a fiery conflagration.

When I applied to Columbia Business School I was not exactly sure what I was going to do once I received my MBA. My hope was that I would "figure" it all out in business school and ultimately end up with a job that was better than the one I had before business school.