If you're in imaging, you're at PMA 2003 - this issue of McCurry's Marketing Idea Exchange consists of making this PMA your most productive in history. Contributors include Jerry Harmen, Joel Paymer, Chris Lydle, George Harrison, Michael St Germain, Brian Noble, Mike Worswick and Bill McCurry.

Improve Your Cash Flow:

   Take a list of your overstocks and slow moving product. Try to sell or swap it with other dealers. If needed, arrange a return or stock balance with the vendor. Take immediate action to turn slow product to cash.

   Determine both your "open to buy" and your "open to pay". The open to buy refers to the merchandise you need to bring your inventory levels up to their desired levels. Your open to pay refers to when you will have the cash to pay for the merchandise. Due to seasonal variations, you may find you will have to postpone payments beyond their normal due date. If so, tell the supplier this upfront and arrange for extra dating or delayed shipments. If you are buying product and not taking the maximum cash discount, you are overpaying for the merchandise. Don't order what you can't comfortably pay for with the maximum cash discount.

   PMA is a great show to buy new equipment. If you're thinking of new equipment, get your financing arranged before you go. Have a firm quote from your bank or finance company so you know what your lease costs really are. Most "no interest" equipment leases are fraudulent. That's a strong but accurate statement. Commercial leases aren't covered by Regulation Z, Truth in Lending. Most "no interest" leases have a different cash price than the lease price. This is a buried interest charge that historically has been higher than a local bank would charge. Don't get sucked in. (Side note: PMA will have available for the first time at the convention Chris Lydle's new book on CD, Success Secrets of Minilabs and Specialty Camera Stores. The CD contains a worksheet for determining if a lease is a good deal for you. If you're thinking of a lease, buy this book at the PMA Business Resources booth, J213, You could save fifty times the cost of the book with this one feature alone.

Identify New Profit Opportunities:

   Attend every educational session possible. Get up in the morning for the mini breakfasts - take your afternoon coffee breaks at the afternoon educational sessions and attend Night School instead of a fancy dinner or Vegas show. Arrive early, meet other dealers and pick the assembled fertile brains for new ideas and trends you can capitalize on.

   Be at your local PMA Division reception at the Division Members Hospitality Lounge. Great place to compare notes on new profit trends and hidden gems others may have found. We know most of the Division members . . . and if you're not a member, don't stay away. This would be a good time to find out what the PMA Divisions are all about. They'll welcome you with open arms. Times are as follows:
Sunday, March 2, 2003 2:30 p.m. - 3:15 p.m. British Columbia and Prairie Provinces Divisions Reception
Sunday, March 2, 2003 3:45 p.m. - 4:30 p.m. Central and Eastern Canada Divisions Reception

Monday, March 3, 2003 2:00 p.m. - 3:00 p.m. Great Lakes, North Central and Rocky Mountain Divisions Reception
Monday, March 3, 2003 3:30 p.m. - 4:30 p.m. Connecticut/New York, New England, New York/New Jersey Metro Divisions Reception

Tuesday, March 4, 2003 2:00 p.m. - 3:00 p.m. Dixie, Florida, South Central Divisions Reception
Tuesday, March 4, 2003 3:30 p.m. - 4:30 p.m. Northern California, Pacific Northwest, Southwest, Southern California Divisions Reception

   Walk the trade show floor, especially the back halls. You already know your major vendors - say "hi" but don't invest your limited trade show time chatting with people you are in contact with regularly. Invest your trade show time investigating the myriad 10x10 foot booths. Who are these smaller exhibitors? How can they help you be more profitable? Many are new to PMA or are start up firms. They may not be polished but their concept could be a gem. Profit is found by mining the ideas from the smaller or newer exhibitors.

   Prioritize your time - (check out www.pmai.org my schedule for help with your own customized schedule for the convention.) - make sure you list ahead of time which vendors you want to see so that you don't forget or miss them in the crush of convention activities.

   In the Feb 2003 issue of Photo Marketing (next to page 49) there is a $5 off coupon good only at the PMA Business Resources booth . . . You can use it to save $5.00 on the CD/book mentioned above or on the new Digital Guerrilla Marketing book co-authored by Bill McCurry that premieres at this year's PMA show. See you there!

Bill McCurry's public discussions at PMA 2003:

DIMA - Saturday, March 1, 2003 - Mandalay Bay, Las Vegas
1:00 - 2:10 - Session #D53, Digital Marketing for Retailers in Tough Times
2:30 - 3:40 - Session #D63 Marketing Idea Exchange This session is now "Sold Out" - contact Bill directly (wmccurry@mccurryassoc.com) if you can't live without attending this session, he's keeping a "stand-by" list.

PMA - Sunday, March 2, 2003 - Las Vegas Convention Center
9:30 - 10:45 - Attend the Official Business Session and hear Guerrilla Marketing Guru, Jay Conrad Levinson
10:45 Unveiling and book signing by Jay Conrad Levinson and Bill McCurry. The book is Digital Guerilla Marketing published by PMA.

PMA - Monday, March 3, 2003 - Las Vegas Convention Center
12:00 - 1:00 Meet Bill at the PMA Business Resources Booth (J217) for book signing of the new Digital Guerrilla Marketing book and just to say "Hi"
7:00pm - 9:50pm Session #N5 Night School, Low Cost and No Cost Marketing, Guerrilla Marketing For the Imaging Industry