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Competing against Lowes & Home Depot
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Overview Transcript Case Study Video
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Pete Gregory, CEO, FEASEL PAINT & GLASS
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Key Ideas of this episode
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1. If you plan for your small business to exist for your entire career, you must see it as part of something big, not as a stand-alone entity
2. To run a retail business you don't need experience as much as you need to care about the customer
3. A small retail business competes against big stores with its unique product mix and personal service
4. You can buy a business with sweat equity
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De Land, Florida: Pete Gregory says, "My best friend should not be my competitor; we need to be talking with each other. We have bigger competitors to fight than each other. And by joining forces and joining heads, you know, we can generally come to a better resolve on what we need to do on a more local basis. "

These are the folks just at the top of Main Street of this lovely town. It is a quintessential hardware store that serves every one within this fine town -- artists, builders, contractors, interior designers and decorators, restoration experts, and the weekend warriors working on their "honey-do" list.

So exquisitely restored, this Main Street has earned them the right to be listed among "The Great American Cities."

In one of our last conversations with Pete, he tells us that John has retired and he bought the business from his big brother. Pete has finally put up a web site; he has some unique products that he thinks can sell every where in the world, "Everybody is a latent artist . . ."

PLEASE NOTE: Pete had a claim from a sweet lady who thought Pete's best friend, Gypsy (the ever-playful hound), was a rug; she stepped on Gypsy and fell. Pete's insurance carrier said either the dog stays at home or the policy gets cancelled. He is grateful that he had insurance!

TESTIMONIAL: There is a major discussion about the Main Street program in this show. DeLand was cited by the National Trust for Historic Preservation as the first in the nation for the bringing her downtown back to life. A teenager was heard saying, "Wow, this is like Disneyland, but it's the real thing." More...

We invite your questions or comments

  • SUPPORT PUBLIC TELEVISION:
    Become a member of your local station. If you are already, great. If not and your business is doing well, consider joining the Producers' Club ($1000).
  • JOIN, JOIN, JOIN: Your professional associations in your industry are your key to continuing education, market research, collaborations, strategic partnerships, capital and so much more ... often you'll find that you enjoy like-minded people and many will become friends for life.
  • GET A GOVERNMENT CONTRACT. 23% of the federal budget for certain types of supplies and services OR $46 billion in government contracts are mandated by Congress to be given to small business. When this show aired, there were only 120,000 business that had registered to be considered for these contrascts. Today, there are over 240,000. Get listed. It will cost you nothing.
  • LOOK AT STEP 5: EMPLOYEES.  Pete and John look for employees who will be with them forever. Stands to reason. Look at how John became the owner of a business. He was an employee - apprentice - sweat-equity partner. Think about it. It may be a way for some of our viewers to become owners. Today, we would recommend that you have a clear agreement up front.
  • CHAMBERS OF COMMERCE: To find your local chamber, click here.
  • FIRST PRINCIPLES: Starting a business is the road to economic independence for most of us average people. Read a little more to see why incorporating a business keeps the passion of the American revolution alive!
  • CASES BY BUSINESS TYPE. Click on the heading to find all the business types and then click on your type of business to check out those case studies.


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