“You have to do what others won’t, to achieve what others don’t” (Anonymous). This is a great quote…and one that we all really should think about. A company's ability to deliver an experience that sets it apart in the eyes of its customers ensures [...]
As a small business, you need every edge you can get to help your business perform well. You already have your product or service down, and you know that you have to deliver top class service if you want your business to do well. [...]
In Part 1 of this series, we talked about The GAP Analysis, calculating your Optimum Inventory Level (OIL), Memo Stock and your Action Plan. To start part 2 of this series, we will next explain GMROI and how to calculate your OIL for each [...]
Most retailers depend on a cost-plus mentality when it comes to setting their retail price on goods. Certainly, it can be a good starting point as without knowing your cost you won’t know what you need to achieve to make a profit...but is your [...]
When you ask an expert, what the top three considerations are, when purchasing real-estate, you always hear, “location, location, location”. In the same way, when asked “how can I increase my store’s sales volume?” the simple answer is “people, people, people”! And not just [...]
A guest post from our friends at Fit Small Business Pop-up stores are temporary retail establishments that are designed to reach and engage customers through a creative experience. The cost of opening a pop-up shop is much less than that of a brick-and-mortar [...]
Maintaining your best-selling inventory is, without doubt, the most critical area of your inventory control. Fast sellers are often only 5-20% of the average stores inventory but can be responsible for generating up to 80% of all storewide sales. Getting them back isn’t just [...]
The first thing to understand when it comes to determining your Optimum Inventory Level (OIL) is that it doesn't start with inventory. There are three other steps required first to ensure your OIL is calculated accurately rather than based on guesswork and hope. It [...]
I would like to start this article with a quote from “Why She Buys” by Bridget Brennan - “Female culture should be studied with the same focus that entering a foreign market requires. Mastering female culture is the key to success for companies that [...]
Is a mobile-friendly website necessary? Do you really need a website that will look good and perform well on smartphones and tablets? My guess is you probably already know the answer (by the way, it’s yes), and yet not all small businesses have websites [...]