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Detailed text transcripts for TV channel - MSNBC - 20130720:09:54:00

going to be their best and achieve their optimal results? jay, can you marnarrow it do to four? absolutely. the reason the failure rate for business is so high is there s three pieces, marketing, management and finance. most people are really good at one and pretty good at a second and throw up their hands on the third. you can t afford not to watch the numbers. the three i would say right off are marketing, understand who your customers are and how you re going to get to them. two would be management. understand how to hire, who to hire, how to manage and three, understand the finances, you have to have a budget and figure out how you re going to make money. and the fourth would be understanding the competitive environment and where your niche is. all right. anything to add to that, chris. probably say them differently. one is you have to hire great people, number two, don t run out of money.

Transcripts For MSNBCW Your Business 20130720

0 coveted shelf space is given to showcase books from independent publishers. they walk in here and are like, neil, you re crazy, you re wasting all this selling space. and we don t look at it on a square foot basis like that. sort of what is it the experience we want somebody to have? and if we can have retail be a form of entertainment. if we can build community through this store, we think we re going to sell more and more glasses. a photo booth to share different looks with your friends, glasses out in the open instead of behind locked glass cases and a tablet checkout system instead of a traditional register set-up are some of the ways their physical store helps fans interact with the brand in ways they can t online. the stores have also helped the ecommerce site reach a whole new customer base of shoppers reluctant to buy glasses on the internet. we re finding that once people buy their first pair of glasses from one of our stores or showrooms, a second, third, fourth time

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