A lot of you know me for helping entrepreneurs grow companies of all sizes. But this time of year, I get pushback from those with mom and pops on a certain issue. Namely, whether a small business should be open or not on Black Friday. This is what I think…
Small business owners have several concerns about being open on Black Friday.
Specifically, these worries boil down to one or both of these reasons:
- Cost of keeping a storefront open.
- Loss of holiday time with loved ones.
I’m going to be direct with you. I believe the entirety of the marketplace should be open the day after Thanksgiving.
And by the end of this article, I hope you do too.
My Case for Operating a Small Business on Black Friday
First, I want to state that I have always believed in being open on holidays…
EVEN WHEN MY ENTERPRISE WAS SMALL AND IT WAS UNPOPULAR WITH MY EMPLOYEES.
So, I have been in the same situation as you are now.
I know you are stressing about whether the ROI will be worth the overhead…
I know you want to eat leftover Thanksgiving sandwiches…
And, I know how rarely you see your favorite family members.
Nonetheless, I want you to look at the bigger picture.
You CAN’T AFFORD a Day Off…
Look, now is not the time to retreat or let up on discipline. Holidays or not, we have an economic crisis on our hands.
So for any small business to expand while others contract, being open on Black Friday is non-negotiable.
The potential of additional revenue outweighs the operating overhead. You can always earn more than you can save.
Which brings me to my second argument for getting right back into the game after the big meal…
EVERYONE is Shopping
There are hard statistics that show consumers spend more the day after Thanksgiving.
A blog from Queue-it reported that there were $65.3 billion in global sales on that one day alone!
THEREFORE, IT IS A MISSED OPPORTUNITY IF SMALL BUSINESSES ARE NOT WORKING ON BLACK FRIDAY.
When you are a young company, more income should be your priority. It’s not always the massive deals, but the accumulation of smaller ones.
Each and every sale fuels your business toward expansion and ultimate success. With that in mind, let me present my last and most important point.
#1 Reason for a Small Business to be Open on Black Friday
Every megacorporation that we know today began as a small business. That means that one day, your company could be one of them…
Only as long as you don’t make a fatal error.
It is too easy to be reasonable about growing especially during the holiday season. However, there is nothing reasonable about the marketplace.
IT’S DO OR DON’T.
I promise that operating your small business on Black Friday won’t hurt your relationships in the long run. Your family will forgive you.
However, it will make a massive difference to your bottom line.
Be Great,
Grant Cardone
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