Playback - Winter 2008 - (Page 34) VIEWPOINT What’s Your Business Resolution for 2008? NAMM MEMBERS ShARE ThEIR GoAlS “I have two resolutions: One is to increase our GMROI [gross margin return on inventory investment] by managing and measuring our inventory very tightly and constantly. If we are facing tougher margins, that’s one expense that we want to control. The second one is to manage to be profitable at whatever level of sales we’re at.” Bruce chapman • portman’s music, inc. • savannah, Ga. “We are going to NAMM and we are sending four people. We need to know what’s new and be the first ones to have it. We are going to upgrade our Internet business because as an established store of 32 years, we have an opportunity there. We are planning an expansion of the store with more boutique-y items and would like to increase our teaching.” Larry Garris • corner music • nashviLLe, tenn. “I have three New Year’s resolutions for Monster Music…1) Expand our student base, 2) Expand our student base and, in case I forget to do it, 3) Expand our student base. Everything that our store is able to accomplish is an outgrowth of our lesson program.” Brian reardon • monster music • Levittown, n.y. “Of course we must constantly look for better ways to serve, gain and keep customers. We also have to streamline procedures, buy better, utilize technology, market better, merchandise better, attract more students, and always focus on empowering and motivating employees. But I believe the best way to ensure our future is to focus on WHY we do what we do, and for us (and our customers), it’s love of music. So my New Year’s resolution is to tie it all together by hosting even more musical events, clinics, recitals, drum circles and student performances—all with the goal of being viewed in our community as the cool and fun place to visit, take lessons, and BUY STUFF!” mike Guntren • ray’s mid-BeLL music • sioux city, iowa 34 PLAYback
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