Why the calmest brands will have the best Black Friday this year

Now, the most important question, and the one I always wanna talk about when we are talking about Black Friday is, do you even want to go on sale? Yes, I said it.

I know that Black Friday seems like this massive big time of year that everyone's going on sale, and you have to go on sale, doom and gloom.

It's very dramatic.

Uh, but I do think there is something to be said for the brands who are not going on sale.

Now, does that cause some complications? Does it make things slightly difficult? Sometimes.

Uh, does it mean that it's the right thing for your business? Also sometimes.

Um, so before we even get into this episode, I really want you to think about whether going on sale for Black Friday is the right thing for you and your business.

Um, it can be a really amazing tool.

It can be, I'm sure you've heard the stories, where people are like, "Black Friday makes, you know, 30% of our income for the whole year, 60% of the income for a whole year." Um, Black Friday is monumental for a lot of businesses, but that might not be what's best for your business.

So first things first, do you even want to go on sale? Now, if you don't wanna go on sale, or even if you do, uh, there are some options.

You can just ignore it completely.

Keep in mind, if you ignore it completely, you may see a downturn in sales because everyone is on sale.

Um, but that doesn't necessarily mean it's a bad thing if you have consciously chosen that.

Um, some other things that can work really well are just surprises and just some new things.

So, you can do things like a mystery box.

You can do a limited drop.

You can do a gift with purchase.

There are so many things that you can do that are not going on sale.

Um, I've even seen people do, like, donations, um, or having a not sale sale.

Don't really know what they were doing.

But there are so many options.

Don't think you have to go 70% off, um, massive big sale, and lose all this money just because everyone else is.

So first things first, are you going on sale? Biggest thing if you do decide to go on sale, or even if you go with some of the not sale options, is to know your margins.

Now, I have been doing this for such a long time, and it is still wild to me how many business owners don't know the difference between your margins and your cost of goods.

So, the cost of goods is just how much it costs you to get the goods purchased.