Mike Olafsson

A lifelong love affair with retail - from furniture to coffee - currently toys & games. Other passions: trading the markets, cars, and soccer is trending

[Mike Olafsson @astoreguy]

Unpopular opinion: Amazon FBA is not your easy road to riches…

Being both an online & #bricksandmortar retailer, we make WAY more margin selling to our local customers than some anonymous consumer 1,000 miles away…

#Retail #ecommercebusiness #Amazon #shopify

[Mike Olafsson @astoreguy]

@TheWolfofREI In fact, I’d argue the higher your pedigree in RE, Stock Trading, SMB ownership, etc, the tougher it is… over-thinking is a huge speed bump.

[Mike Olafsson @astoreguy]

@Levijameshere SMB ownership

[Mike Olafsson @astoreguy]

If you’re a #SMB owner, you’re likely getting hit left and right from people selling your their #ERTC services - thankfully, this led to us asking our #CPA about 6 times if we qualified… finally, we got “oh yeah you do!”… you might be in the same boat as us - keep asking!

[Mike Olafsson @astoreguy]

Should retailers direct mkt via email or text?

While both is the “right” answer, we’ve found so much more effectiveness in good old email…

40%+ open rates… better $ conversion… lower opt-out.

Why? Likely our customer demo, but also ability to tell a story to the customer.

[Mike Olafsson @astoreguy]

New to leasing retail space? A lesson we learned the hard (and expensive) way: never assume you’ve got a sign space on the shipping center monument/pylon sign - always include it in the lease!
That mistake cost us $100/mo - but we took care of that at renewal time!
#cre #Retail

[Mike Olafsson @astoreguy]

@BullMktMusings @TRUmav @ChipotleTweets This is part of the downside to CMG not franchising - while they worry about brand image being kept by franchisees, they miss the fact those franchisees have true skin in the game and will bust a$$ to be successful.

[Mike Olafsson @astoreguy]

@TheWolfofREI Being available to work and actually working are 2 different things… I’ve worked with many people who looked as though they were working 80+ hours, but it was simply reacting, responding, etc.
Work = force x distance

[Mike Olafsson @astoreguy]

Retailer loyalty programs work when done right: make it worthwhile, easy to understand and easy for your team to implement = gold!
#retail #Retailers #loyaltyprogram

[Mike Olafsson @astoreguy]

Carvana opens ‘car vending machine’ in major U.S. metro area | Chain Store Age

The most wildly expensive POP display ever… surprised they opened a new one now - ⁦@GuyDealership⁩ does this make sense to you? https://t.co/ynvtQhl7aZ