Brother Can You Spare a Dime? Day

On February 22, 1879 Frank Winfield Woolworth opened the Great 5 Cents Store in Utica, New York. His mission: to sell “nothing” that cost more than a nickel.  Woolworths 5 and 10 cent store  became popular among consumers as one of the first to sell discount general merchandise at fixed prices and saw a huge surge in popularity expanding over the next 50 years to 1000 stores. So why did the last Woolworths shop in the United States close on July 17, 1997? Some say it was increasing competition with super stores, chain department stores and the like.  Still other say it was because they changed their focus from what they were known for to something entirely different when they went from a five and dime to pursue specialty merchandise. 

The original store started with just $300.  Their long success was due to offering discounted merchandise at fixed prices undercutting the prices of other local merchants (sound familiar?).  Woolworths was also one of the first “American retailers to put merchandise out for shoppers to handle and select without the assistance of a sales clerk. Earlier retailers had kept all merchandise behind a counter, and customers presented the clerk with a list of items they wished to buy.” When Woolworths began loosing significant market share they closed their doors to focus on the Foot Locker division renaming the holding company Venator Group. (source: Wikipedia)

The message here: Don’t loose sight of your original mission.  If you are doing well and people are buying your products and services, it is a good idea to find out what THEY want before making big changes like Woolworth did. Woolworth had a good formula for success..  KMart, Target and WalMart saw an opportunity to take up where Woolworths left off by offering general merchandise at discounts. Some of them even have hourly discounts throughout the store to further encourage consumers to shop there.

 
Today is also Single Tasking Day. Is it time to set aside the multiple projects and focus on one??? Some Psychologists argue that it is not possible to Multi-task. That we can work on various projects at once but our focus must be on one thing at a time with several irons in the fire and go back and forth between tasks. Hence the term to multi-task.   When we multi-task it appears we get lots done but in reality single-tasking can be more productive in the long run. You can see the results of one thing and then move on to others. If you are good at starting things (as am I) but have a difficult time completing something, maybe it is time to totally focus on one project to completion – to single task! Starting today.
Other notable happenings on February 22nd throughout history:

1630 – Indians introduce pilgrims to popcorn
1732 ~ George Washington, 1st U.S. president was born
1876 ~ Johns Hopkins University opens its doors
1907 ~ 1st cabs with taxi meters begin operating in London
1924 ~ Calvin Coolidge makes the 1st presidential radio address
In 1932, the purple heart, an award given to soldiers who were wounded in battle was reinstated (it was first established by George Washington during the revolutionary war)
1956 ~ Elvis Presley’s 1st hit,  “Heartbreak Hotel” hits Billboard’s top 10

More great marketing ideas can be found in the Quirky Marketing Calendar ~ How to Use Zany and Non-traditional Holidays to Promote Your Business 365 Days a Year!
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