Doing business with federal government agencies can be very lucrative for the people who learn how to maneuver through the maze of registrations, certifications and regulations. But if you are ready to start, these are the first steps you need to take to open the door to federal business opportunities. RELATED: Selling to the Government through Online Procurement … [Read more...] about How to Do Business with the U.S. Federal Government: A Step-by-Step Approach
Are you dreaming of having your own store? There are a lot of things that you need to understand before starting your retail store. Opening a retail business is more than just leasing a store, putting in shelves and creating your display. Here are some things you need to know when starting a retail store: The store owns you, not the other way around. Once you post those … [Read more...] about What You Need to Know When Starting a Retail Store: Tips to First-time Retailers
How much will it cost you to start the retail store of your dreams? Getting this number right can help you gauge whether you can really afford to start and successfully run a retail store. Unlike a home business, starting a retail business requires significantly more capital, more so if you want to locate your store in a high-traffic area. Given the significant investment … [Read more...] about Cost of Opening a Retail Store
How often does your customer need to buy your products? Is it something that they need only once, never to buy again? Or are your products something that customers will buy again and again? For many types of products, the fastest way the business can reach its volume targets and increase sales is for the product or service to be needed over and over again. This is how the … [Read more...] about Does Your Product Have Repetitive Value?
As an independent retailer, your goal is to get your retail business on more solid footing. For most, the emphasis naturally falls to rebuilding sales, and success or failure may very well hinge on inventory management. For a number of years, until the recession hit in full force in 2008, independent retailers had the luxury of not having to manage their inventories too … [Read more...] about Recession Lessons for Small Independent Retailers
It's tough to get customers to your retail store -- and tougher still to make them to return again and again. For your retail business to succeed, the key is to provide customers with a great shopping experience. What is a Great Shopping Experience? But what is a "great shopping experience?' The University of Pennsylvania released a study a few years ago on retail shopping … [Read more...] about How Your Retail Store can Wow Customers
Did you develop a new game or software? Did you invent a new unique product? Developing the idea and creating the product are the first steps. The next question to ask then is: How do you earn from a product that you developed or created? In order to realize the full earning potential of your product, you will have to provide your business with financial support, to properly … [Read more...] about How to Earn Money from Your Product
I've been speaking lately to more and more people who are thinking about starting up a retail business. For the most part, these are folks who've not been in retail before, but have great ideas for offering customers something new, something different, something compelling. They've got the entrepreneurial bug. From retail merchandising to engaging customer interactions - there … [Read more...] about How to Start a Retail Business
If you're like most independent retailers, inventory represents your single largest investment. Your customers know you in large part by your inventory, your merchandise, by those categories and items you choose to carry. And, if you're like many independent retailers, you feel naked if your store doesn't feel fully stocked with broad assortments and deep, impactful displays of … [Read more...] about Inventory Carrying Costs – The Hidden Costs of Independent Retail
Since the beginning of the year, I've spoken with a number of people thinking about opening a store or retail business. In every case they have made the decision to take their professional lives in a different direction, from working for somebody else to working for themselves, from working in larger organizations to building their own business. They have cash and a dream, … [Read more...] about Are You Thinking About Opening a Store for Business?