Don’t Give A Toaster: Business Principles Will Save Your Shopping List

The turkey was delicious. Now it’s time to go shopping!

But first, let’s take a look at a process that will make your shopping list easier than ever before.

The same principles used by profitable businesses can net us savvy shoppers the adoration of our children, love of our spouses and maybe even the respect of our in-laws.

Use these three business principles to help pick out the perfect gift:

Competitive Intelligence

• What are others likely to give these same folks? You want to avoid the same gift and maybe one-upmanship demands the better gift.
• Are these gifts available or are they sold out? How much do they cost?
• What did other people give last year? How much did they spend?
• What does the giftee want or need? CAUTION: My wife says to never buy her anything with a cord no matter how much she needs it. And yes, I learned that lesson the hard way.

Innovation

• Do you want to give the same gift that you gave for the past ten years? Perhaps it is time to think outside of the gift box.
• Do you want your present be one-of-a-kind, customized or handmade?

Strategy

• Do you want a big kiss from your spouse (of course you do!) or to hear the squeal of your kids opening their presents?
• Do you want to instill your own values upon the recipient by providing an insightful book or religious gift?
• Do you simply want to outdo your relatives?
• Do you want to give a gift that does not cost you a lot of money?
• Do you want your present to fit in a mailer or box?

Applying these business concepts to your gift giving can help get you oriented before you head for the store. Just remember, nothing with a cord for your significant other!

Happy holidays,

Steve

Picture credit: Donovan Govan (Wikimedia)