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  • - Hi, guys, I'm Amanda Martin

  • from Lindsey's Suite Deals Furniture.

  • I came to VaynerMedia because I wanted to

  • see how they could help my business.

  • We did a few initial rounds of questions,

  • and we felt that we were a good fit for each other.

  • And what you guys are gonna watch is our first meeting

  • about our brand, and just discussing

  • what we were doing and getting into a deep dive

  • of how we operate day-to-day business,

  • and what we do to try to promote our business,

  • and our marketing, and just everyday operations.

  • And it was so exciting to be in that meeting

  • and go through with all the Vayner mentors

  • and really dig deep into our business.

  • I can't wait for you guys to watch this,

  • and hopefully somebody will learn something from it.

  • I had a really good time doing this meeting,

  • and I learned a lot, and we are implementing

  • some of our tactics, and I cannot even begin to tell you

  • how much it has helped, and the results that we've

  • been getting, and I can't wait for the future

  • and to implement some more of our ideas and tactics.

  • Hope you guys enjoy it.

  • Bye!

  • (intense music)

  • - You've got your perspective.

  • I just wanna be happy, don't you wanna be happy?

  • It's such a pleasure,

  • how are you? - Nice to meet you.

  • - Hi! - Hi, good to see you.

  • - Me too. - So glad to see you.

  • For two and a half years, my family business

  • was known as Shopper's Discount Liquors.

  • There was a sign printed on an eight by 10

  • on the front sliding door

  • that said "Wine Library," and that's how I,

  • two and a half years, I traded as winelibrary.com

  • and then made the shift to Wine Library

  • from Shopper's Discount Liquors.

  • So, one of the things you may want to debate, here,

  • is if you're trading differently on dot-com,

  • building up that brand equity,

  • and then, if you decide that brand is something

  • that you can put on the front of the building,

  • it might be a worthwhile debate.

  • - [Male] Yep.

  • - So have, like, a different website name?

  • - Yes. - Okay.

  • - It's the easiest way for you to, like,

  • solve this potential issue, I'm coming in cold,

  • I'm listening, but it's being done a lot.

  • Like, there's a lot of opportunity to play both fronts,

  • and then you'll have the options to be able to absorb it,

  • and with 85 fucking thousand square feet

  • even if 20,000 or 30,000, how much is retail?

  • No, no, some of it's warehouse.

  • - [Male] I'd say we're probably right at 50,000 retail.

  • - Right, it's unlimited space AKA picking one of the corners

  • and doing something just like cool

  • with like coffee and computers

  • and calling it furniture, whatever you call it,

  • let's just call it, Orsini's House,

  • let's say that's the brand you went with,

  • calling that corner like Orsini's Cafe,

  • there's a couple tables,

  • little fresh coffee

  • and you've got laptops there

  • and it's all to Orsini's,

  • now you've injected that in your,

  • it's an organ within your body

  • that eventually could become the body.

  • Something to think about. - So like on the computers

  • they'd be able to shop the website or?

  • - Yes.

  • It's just establishing the brand strategically.

  • Like I would argue one of the things

  • that may come up here today

  • is literally looking at 5,000 square feet

  • to do something completely left fucking field,

  • like a coworking space.

  • If you're selling B to B merch,

  • are you selling to B to B's at all?

  • - [Amanda] Not really.

  • - It's kind of an interesting conversation

  • as start up craze takes over the world.

  • I know this is super left field

  • but what if you did have three to five thousand square feet

  • of coworking space

  • and had entrepreneurs sitting there

  • the same way Starbucks has them sitting there

  • and then that started giving you a B to B flavor

  • 'cause you have people there

  • and all of a sudden even the area they're in

  • has B to B thinking around,

  • it's more like do you need a couch for your office?

  • That could just change the dynamics

  • of different usage for you.

  • Look, I think both ways can work.

  • To me, the bigger question

  • is what are you trying to accomplish?

  • So let me ask a different question,

  • what's your lease situation?

  • - [Amanda] We're buying the building.

  • - That's great.

  • So I assume that's a big capital expenditure?

  • - [Amanda] Mmhmm.

  • - So I think you've got to really be smart here

  • because if you're making that cog move,

  • I do not believe it's a good buy

  • no matter how good of a deal you're getting

  • unless you turn the location into something

  • more than what you actually do.

  • I couldn't say this enough.

  • You're so young.

  • I'm so worried about what your business looks like

  • between a dot-com and a physical location

  • a decade from today, not this year,

  • that I think what this is all about,

  • the reason we even built mentors

  • is I knew that in these meetings,

  • there's gonna be one to three things that we could bring

  • that are disproportionately impactful

  • for what it costs in return.

  • The number one thing I would tell you

  • is the two things that you need to care about,

  • I literally don't care

  • about anything else in your business right now

  • other than two things.

  • One, the hell are you gonna do

  • inside your 85,000 square feet that's different

  • that has nothing to do or is complementary to what you do

  • for the sake of the business?

  • Even marketing, back to B to B,

  • real estate, what if you're the stage

  • for all real estate events in your,

  • you have to figure that out.

  • And number two, you have to figure out dot-com.

  • Every day that you wake up,

  • find good deals, taking care of your staff,

  • taking care of your customers, amazing,

  • guess what?

  • Number three, four and five.

  • Number one and two is what other capital

  • are we gonna pour into this 85,000 square feet

  • that are gonna,

  • like you know what comes with renovations,

  • you may have to have a separate entrance,

  • you may have to, who the hell knows right?

  • I couldn't stress enough of that importance,

  • in parallel, you're pulling from opposite directions.

  • You're making a double investment into your physical

  • and you're trying to almost eliminate people

  • from coming in to build up your dot-com,

  • that religion.

  • It's what I did.

  • I love giving advice I took.

  • We built a seven million dollar building

  • while we poured every asset into building winelibrary.com

  • into one of the biggest leaders.

  • And if my dad was sitting here right now,

  • his biggest concern is like foot traffic is down.

  • The end. - Yeah

  • and I think sometimes my long term sight

  • that's what I get worried about

  • but I know that E-com is important as well.

  • - There is no as well.

  • - [Male] Everything's equally important.

  • We have to build today,

  • no, we've got to think about tomorrow

  • and me being on the front end of all this,

  • that's what I deal with every single day.

  • Everybody walks through that door

  • no matter how I price, what floor structure I have,

  • they've got their phone in front of them.

  • - I want this. - I can get it here

  • for this price.

  • - Are you willing to match it?

  • And I apologize, what are you doing in that scenario?

  • Are you matching pricing?

  • - [Male] Oh yeah.

  • - 100% of the time, if it's legit?

  • - [Male] There's some things that we see--

  • - [Amanda] 98% of the time.

  • - [Male] I had an instance the other day

  • where we was gonna make seven bucks.

  • - I think you're making a huge mistake then

  • and you have a huge opportunity.

  • Let me tell you a story.

  • My dad,

  • in the liquor business they have something called the ABC.

  • ABC came in one day and they're like,

  • "You can't do case discounts."

  • My dad's reaction was to put everything at 15% off

  • from bottle one.

  • So it wasn't even a case discount anymore,

  • in essence, everything was on sale.

  • - The store was on sale.

  • - The store was on sale.

  • So some things were on sale sale

  • like it was 15, it's 9.99

  • but if it wasn't, if it was just a regular item, it was 15,

  • by default it rung up at the register 15% off.

  • The problem was he never told anyone.

  • We did no marketing.

  • So overnight one day,

  • we became the best priced store in the state

  • yet nobody knew

  • and people didn't even know

  • 'cause we didn't do internal signage.

  • I'm just telling you the truth.

  • People would be like, alright, I'm gonna buy this for 15,

  • you get to the register and it's 13.40,

  • ahh, okay.

  • - Price mistake.

  • - I am telling you right now,

  • I'm telling you right now,

  • the number one thing I would do right now,

  • temporary banner sign, not sign on the building,

  • is have as big of a sign as the town will let you say

  • that we match all internet prices,

  • little asterisk, as you get closer to the building it says,

  • two percent, like, I would just arbitrarily,

  • and you've got to find out the like,

  • but I think it's two percent of times

  • there are some restrictions or private labels

  • that we're unable to match.

  • Nobody driving by your building

  • and coming to your store thinks that.

  • Here's my question,

  • if the truth is,

  • if five out of 10 people

  • are actually doing what you just said,

  • I would tell you that you should go there.

  • If it's three out of 10

  • but it feels like every person,

  • then you've got to debate

  • because you'd be giving up a lot of margin.

  • If it's seven out of 10,

  • you might want to make it a permanent sign in your building.

  • Now my question is, what is it really?

  • What's your gut tell you?

  • - [Male] I would say that actually approaches

  • me or a sales person on the floor

  • probably three out of 10.

  • - But you know it's

  • in their minds. - But when I'm

  • walking around that store,

  • they don't know I'm-- - Everyone's on the phone.

  • Watching.

  • - 20 feet away and I see a husband and wife

  • over there with their telephone out,

  • I don't think they're texting their grandkids.