When you really dig in to the financial numbers of your business, there's always a story to be told, sometimes a story that you just hadn't been aware of before. I was working with a client last week, analyzing June sales results. The month had been mildly disappointing, but there was one store in particular that was off more than the others. What do you do when one store … [Read more...] about Why You Need to Dig into Your Financial Numbers
Independent Retailer
Building Brand Equity to Achieve Critical Mass
As we come to the end of the summer, independent retailers are increasingly focused on the last four months of the year. Many are looking for their sales to finally turn, while expecting the retail competition to be ferocious. Still, it's also necessary to have an eye on what it's going to take to succeed over the next one to three years, and beyond. In this environment, … [Read more...] about Building Brand Equity to Achieve Critical Mass
Why Good Customer Service Should be a Priority
Being a modest merchant, reliable shoppers symbolize the well being of your enterprise and keep you from going out of business. They help ensure that your retail store enjoy a healthy cash flow. They can even help to protect your retail shop from the takeover of the bulk retailers. The challenge is to find a strategy to bring customers back to your shop over and over. … [Read more...] about Why Good Customer Service Should be a Priority
6 Tips to Increase Cash Flow of Your Retail Store
Cash flow is an on-going challenge for independent retailers, as it is for many small businesses. Sales growth remains modest at best, and credit remains largely unavailable to many independent retailers. That puts many squarely behind the eight ball. Tips to Increase Cash Flow Here are 6 tips that can help you drive more dollars to the bottom line: 1. Focus your marketing … [Read more...] about 6 Tips to Increase Cash Flow of Your Retail Store
Your Competitive Edge: YOU!
I've been working with a client who will be opening a store in the spring. This is her first venture into retail, and she's working hard to do it right. We've been working on constructing a full merchandising plan by department and category, as well as a detailed cash flow plan. She's opening a teachers store, so we've been also discussing a range of strategies for connecting … [Read more...] about Your Competitive Edge: YOU!