-By Robert Coviello

Though I am writing this article on my deadline date Oct. 10, 2008, none of you will actually have the opportunity to read it until December.

We are on a worldwide financial roller coaster, which is bound to insert doubt into many small-business entrepreneurs' minds about our future. The bad news is there is no end in sight -- at least on today's date. The good news is by the time you read this article, things may have calmed down. Unfortunately, I have no crystal ball and am unable to predict the outcome.

How did we get here? Why are we here? Two loaded questions. Two questions I am unable to answer.

It is not my place to be critical of any one group but suffice to say the
"The Good Old Boys" of Wall Street, financial institutions and Congress have all played a role, through bad decision-making, selfish motivation, and personal gain objectives.

I should assess blame on government, too. Government is us. Government does not earn a paycheck every week. We earn government money. We pay government. Sometimes, they pay us back. We did not do our job. We did not hold people we elected and corporate executives of major corporations -- both of whom are in a position of responsibility -- accountable, shame on us.

We have other responsibilities, too. We may have failed to exercise the last proxy notice that was sent to us from corporations, mutual funds, financial institutions and mutual insurance companies we own stock in. The premise: our stock position is small and our vote can have no effect on the outcome. Have you wondered about that decision? Shame on us once more.

There is plenty of blame to pass around here and finger-pointing to do, but the fact is that we are partially responsible for this meltdown, too, as much as the people whom I have mentioned above.

What must be done now? STAND PAT!

Behave like a small-business entrepreneur normally does: be a leader; stay optimistic; keep your shelves full, you are not going out of business; service your customers, you do that better than any large competitor; be creative about store events, creativity is your forte; survive, small business has a history of doing that well.

The housewares industry is a resilient business. We do not sell anything anyone absolutely needs, but we definitely sell merchandise that makes people feel good. It has perceived value. It has longevity. It is useful. It adds brightness to one of our most treasured possessions -- our homes. Unlike a new blouse or shirt, it does not fade or go out of style; it performs a useful repetitive function that gives it a long-term investment value.

Housewares product purchases will probably top many individual holiday shopping lists this year because of all or some of the above reasons. This should bring you some comfort.

November's over now. The credit crunch, the election and a late Thanksgiving all contributed to making the outcome of the month a last-minute event. Those are the components of retail that challenge us. Whether we admit it or not, it excites us as much as it worries us. It is what retail is about. You are a retailer, right?

These are my rules for the preservation of a housewares store in a tough economic environment:
1) Continue doing business as usual.
2) Advertise as always; perhaps consider increasing your budget.
3) Keep your shelves full and your stockroom sparse and available for additional inventory.
4) Review sales every day against your goal and last year's performance.
5) Analyze inventory sales and needs frequently.
6) Stay in stock on key items.
7) Work with vendors to support your efforts with discounts on key items, one-time special-buy opportunities, and/or extended terms.
8) Be reasonable with vendors, they are negotiating the same storm you are.
9) Add more vendor incentive programs for sales associates than you might offer normally during this selling season, it might result in an unanticipated sale.

There is time left to still make the year a good one; if sales are slightly down, less than 5 percent, even, or slightly higher than last year, you are probably doing just fine in this economic climate.

One final note: My last column brought comments from vendors, consultants and retailers. It was the most comments I have received, and I want to thank those companies and individuals for taking the time out of their busy schedules to give me feedback. I also received suggestions for future articles. Wow! Do I ever need those thoughts and ideas!

It is my pleasure to write this column a few times each year, thanks to the invitation of The Gourmet Retailer Magazine. However, what I write about should be based on your thoughts, ideas and desires. I am pleased to be able to contribute something to the thought process of your entrepreneurship. It is a privilege for me to do so.

Have a successful and prosperous holiday selling season.

Robert F. Coviello is the founder and president of HTI Buying Group, an organization of independent housewares specialty store retailers and industry vendors. He is also president of Housewares Tabletop International, a consulting firm that provides innovative solutions to strategic challenges facing companies in today's dynamic housewares and tabletop industries. Bob has more than 35 years of experience in the industry and is an acknowledged industry expert in the housewares field. To reach Bob, you can e-mail htibuying@verizon.net.