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I’ve had some interesting feedback from my recent post, Working In Your Business, Working On Your Business. Most interestingly, I’ve had clients, after reading it, want to focus some time specifically on this issue.
One client in particular asked how...
Frequently when I've been discussing a potential engagement with a prospective client they will bring the conversation around to "best practices". They will ask that an important part of the engagement involve implementing industry "best practices" throughout their organization.
"Best practices" is a term I've struggled with for a...
Yesterday, the government reported that the Consumer Price Index rose 0.4% in August. The increase, however, was led by gasoline, which jumped 9.1%. Excluding gas, the Index was essentially flat. Over the prior 12 months, the government said that the overall Index was down 1.5%.
Many independent retailers...
Sometimes independent retailing involves far more than just retailing. Sometimes it can get pretty complicated. And with revenues off, sometimes those complications, and the decisions they now require, can become pretty daunting.
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.
Here are 6 tips that can help you drive more dollars...
It's the tug of war between aggressive merchants and prudent managers.
When I started in retail, training to become a buyer, I got my first taste of the retail tug of war. I remember my first planning meeting very well. It's a story that has relevance for independent retailers today,...
As we approach Halloween and look toward those crazy few weeks between Thanksgiving and Christmas, many independent retailers are wondering just how crazy it's really going to be. Most have taken a very cautious approach to the fall season, and are having to make very difficult decisions about just...
As we look to the last two months of the year, independent retailers are struggling with exactly what to expect. Most remain optimistic (they are optimistic by nature), but cautious. One of the critical questions in their mind right now is how much they are going to have to...
A forum last week on RetailWire addressed a recent talk given by Robert Spector, the author of "The Mom & Pop Store: How the Unsung Heroes of the American Economy are Surviving and Thriving". In his talk, he identified what he believes are the seven defining characteristics of...