Best Buy IdeaX

[#1]

My suggestion for Best Buy is to stop wasting time and energy looking for a new CEO right now. Time is money!

Suggestions:

1.) Keep closing stores that are dragging down the company. Nothing personal to all affected employees just business. Let's swallow our pride and move on. 

2.) All stores that have a 20% or more Latino Market in their area, restructure the stores to go after the Latino Market. Turn them into Latino Best Buys, since all other markets shop online and use Best Buys stores as their showroom and then buy on Amazon.That means Latino GMs, Latino, Managers, & Latino Employees. Make it easy for Latino Customers to shop and get credit.  

(Note: Latino Stores that offer products and services are still very much in business and turning  a huge profit)

Facts:

• The Latino Market had a $1.2 Trillion with a "T" Spending Power for 2011
• Most Latinos are not purchasing product on-line yet, they prefer to walk into stores to buy products. 
• Most Latino Businesses that offer products and services are still in business
• Most Latinos are employed and not unemployed.  
• Most Latinos pay in cash unless they need to make a very large purchase then they will buy in credit. 

3.) "IF YOU CAN'T WIN THEM, JOIN THEM" Mirror Amazon's format, structures, and procedures. Who cares if they call Best Buy "COPY CATS" if the company is making profits. Right? Best Buy has something Amazon doesn't, GEEK SQUAD!

4.) YOUR NEW CEO SHOULD BE YOUNG, VERY KNOWLEDGEABLE WITH SOCIAL MEDIA & SHOULD BE KNOWLEDGEABLE WITH THE LATINO CULTURE.

THINK OUTSIDE THE BIG BOX THAT IS OUT DATED NOW!!! WHY JUST FOCUS ON MARKETS THAT USE BEST BUY AS A SHOWROOM &THEN GO & BUY THE PRODUCT ONLINE WITH AMAZON. THE WAY PEOPLE BUY PRODUCTS TODAY HAS CHANGED & BEST BUY NEEDS TO CHANGE TO THE NEW WAY PEOPLE BUY PRODUCT. BUT DON'T OVER LOOK THE HUGE LATINO MARKET THAT STILL PREFERS TO WALK INTO A STORE AND BUY THEIR PRODUCTS. A MARKET THAT WILL CONTINUE TO GROW AND HAS A CURRENT 1.2 TRILLION DOLLAR SPENDING POWER. TIME IS MONEY & THE CHRISTMAS SEASON IS RIGHT AROUND THE CORNER. THANKS FOR YOUR TIME.

PS.

GO BACK TO YOUR ORIGINAL CORE VALUES, WHEN YOU USE TO PUT MAIN STREET FIRST (YOUR CUSTOMERS) & THEN WALL STREET.  

[#2]

Thanks for the suggestions. Anyone else have thoughts on any of the ideas posted here?

[#3]

Just my personal thinking here, but I vehemently dislike any suggestion of putting personnel in place based solely on their race, sex, ethnicity, etc...If they can do the job, sure thing.  But there should be no perks because of just being Latino.

Latino customers are a growing population in many areas.  Might not hurt to have more bilingual associates.

[#4]

The answer is quite simple. EXECUTE LOVE, TRUST, & SERVANTHOOD! Three emotions that are very possible toexecute in every store but is vital it starts from the TOP. 

I feel Best Buy, just like so many other companies, have drifted away from the PASSION they first had when they first openand helped customers with their technology needs. They have lost the passion to try to make an extra buck. Some have lostthe passion to serve MAIN STREET & developed a passion to serve only serve WALL STREET. But it's simple, WHEN YOUPASSIONATELY SERVE MAIN STREET, WALL STREET WILL AUTOMATICALLY FALL INTO PLACE.  Best Buy CARED &HAD LOVE for their customers, customers TRUSTED employees, and employees had a SERVANTHOOD HEART to helpthem out. A customer can always feel when another human being Cares about him/her, feels that the person helpinghim/her is TRUSTWORTHY, and wants to serve him/her with a servant heart. Best Buy needs to go deep into their SOUL &SPIRIT and get back that PASSION, LOVE, & SERVANTHOOD they first once had and let it flow unto their customers.

It is quite simple if you do the math.

1.) The barber that I get my hair cut, I have been going to him for the past 16 years. Why is that? He demonstrates lovefor his customers, I trust his experience and work, he has a servanthood heart. (Note: Even though he is more expensive, Ihave been faithful to him because of his qualities. THE ECONOMY HAS NOT AFFECTED HIS BUSINESS BECAUSE OFHIS PASSION FOR HIS CUSTOMERS. THEY FEEL IT) 

2.) My Family & I have been going to an El Torito Restaurant that is 30 miles away from my home for the past 15 years.Why do I drive 30 miles out to a El Torito when there are plenty of El Torito Restaurants in my area. Again Love, Trust, &Servanthood. My Family & feel the Love from the Manager(Rueben) and employees, I trust the food handling and qualitythey serve, and managers, and waiters have a servanthood heart. (THEY ARE ALWAYS FULL & BUSY)

3.) My wife and daughters shop at the Nordstrom of Costa Mesa, CA. Why do they drive again 35 miles away whenthey could easily drive to our local Nordstroms here in our area? The Love, Trust, Servanthood Hearts they demonstrate atthat Nordstrom. 

I could go on and on but I assume you get the point. A human being, starting from a baby, a child, teen, young adult, adult,and the elderly will either feel Love, Trust, and a Servanthood Heart or I don't care about you, I can't be trusted, and I reallydon't want to serve you, and don't care if you go to another store.

ALL RETAIL & SERVICES START FROM THE HEART! THEN EVERYTHING ELSE WILL FALL INTO PLACE.

I would like to walk into a "New Best Buy Store" and see:

1.) A medium size building and not a "Giant Store"

2.) See New Hearts and New style uniforms in the Management Teams & Employee Teams (LOVE, TRUST, &SERVANTHOOD)

3.) Only see Notebooks(No Desktops), iPads, Tablets, Phones, ipods, the latest and greatest electronics with lots ofaccessories. TV's that you with accessories but sizes 37" and above. (Note: Offer Geek Squad In-Home Services forHome Networks & TV Installations & Configurations) DROP THE OTHER PRODUCTS YOU OFFER. 

4.) OFFER CUSTOMERS FOR ONE YEAR FREE GEEK SQUAD INSTORE UNLIMITED TRAINING CLASSES FORPURCHASES OF A NOTEBOOK, IPAD, TABLETS, PHONES, IPODS. (LOVE, TRUST, SERVANTHOOD. SOMETHINGAMAZON & OTHER CAN'T OFFER *** GEEK SQUAD *** 

(NOTE: FOCUS ON WHAT MATTERS TO CUSTOMERS, HELPING CUSTOMERS BUY THEIR NEW ELECTRONICGADGETS BUT DON'T LEAVE THEM HANGING, TRAIN THEM FOR FREE UNLIMITED FOR ONE YEAR ON THEIRNEW GADGET.) LOVE, TRUST, SERVANTHOOD HEART REMEMBER. PUTTING FIRST MAIN STREET THENWALL STREET WILL FALL INTO PLACE. 

5.) STILL OFFER SERVICE PLANS FOR ALL PRODUCTS. 

6.) FOLLOW UP WITH CUSTOMERS TO SEE HOW THEIR NEW EXPERIENCE WAS WITH THE NEW BEST BUY. 

7.) BE #1 / OUTSTANDING/ EXCELLENT/  IN WHAT REALLY MATTER MOST TO CUSTOMERS. NOT BE GOOD,ALRIGHT,  OR OK IN A BUNCH OF THINGS. (WHAT MATTERS MOST TO CUSTOMERS? CELL PHONES, IPADS,NOTEBOOKS, TABLETS, IPODS, THEIR HOME NETWORKS, & THEIR 65" TV'S THAT CAN GO ONLINE.  EVERYTHING ELSE IS NOT THAT IMPORTANT. 

"As water reflects a face, so a man's heart reflects the man." (Proverbs 27:19) THANKS!

[#5]

How can Best Buy Corp. get back on top again with consumers? Continue to close big box stores that are dead weights to the company. Open up small/medium stores that only sell what people say matters most to them and they cannot live without. Cell Phones, Notebooks, Tablets, Reading Tablets, Content, & Home TV Entertainments 42" and above. Best Buy has the ability to be on top again and win consumer's business if they would open up small/medium bilingual stores that creates a confortable shopoping experience and only offer wthat is most important to the majority of people. Offer free Geek Squad In-Store Training on all these products, customers just don't want to buy the product and stop there, they want to know how to use them properly and effectively. Continue to have Geek Squad Precincts in stores, something that Amazon does not have yet. I say yet, because it's a matter of time before Amazon opens up small stand alone stores offering electronics that matter most to people with in-store training, just like what Apple did and just like J. Crew did with clothing. Making these changes are not going to be easy but they are possible. A piece of advice: Its better to be known as #1, The Best, Awesome, Outstanding in a few areas then to be knowned as Good or even Poor in many areas. Thank You For Your Time.      

[#6]

Just once is good...not 5 times.  Realistically, if the company wanted to focus on pure profit, it would close everything and just focus on cell phones which are very margin heavy.  There might be some merit to the ideas, but I feel it would end up hurting consumers and turning more business towards the Wal-marts and Targets of the world.  Bad enough when people complain about not having a product available let alone if we cut inventories by over half.