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Library
New Articles 13 Ways to Survive In Very Dry Times -- In times like these, retailers need to hone cash management skills, buy smarter, and sell better. (by Joe Capillo) Relationship Marketing -- Improve the way you do business, strengthen the bonds with your customers, and sell more - with email! (by David McMahon) 10 Fatal Flaws That Could Annihilate Your Business -- Big Picture issues for building a long-term plan. (by Rick Stark and Shelley Parlin) What REALLY Matters -- Learn how to succeed and prosper in a sluggish economy. (by David McMahon) Why Some Businesses Prosper, Even in Slow Times (Part 1) -- Financial management tools, techniques, and lesson from the New York Giants (by David McMahon) Why Some Businesses Prosper, Even in Slow Times (Part 2) -- Improve your cash flow by becoming more efficient with your largest asset: your inventory (by David McMahon) Deja Vu All Over Again -- Are you prepared for the upturn? (by David Lecher) Losing Sleep Over Bedding Sales? -- Is bedding an afterthought rather than your focus? (by Chris Millet) Not alone! Build a TEAM around you that will help you conquer How to Add $250,000 Gross Margin by Improving GMROI, Without Increasing Prices! -- Got your attention? Learn the secrets to success. (by David McMahon) Showcase for Success -- Proper planning, guidance, and instruction can make all the difference in long-term success. (by Chris Millet) Web of Excess Inventory: Why 20% Inventory to Sales Is Too Much--Don't get caught in the web of carrying too much inventory. (by David McMahon) Rate Your Efficiency -- Does the efficiency of your operation earn you a passing grade? (by David McMahon) A Summary of Key Best Practices -- Review Best Practices Systems that work! (by David McMahon) Too Busy to Shop! -- What are you doing to make furniture shopping (and buying) easy for customers who are always traveling in life's fast lane? (by Shelley Parlin) Dynamic Inventory Management, Part 1 -- Measure and improve the health of your inventory over time. (by David McMahon) Dynamic Inventory Management, Part 2 -- Apply Dynamic Inventory Management principles in real world situations to generate more cash and profit. (by David McMahon) Dynamic Inventory Management, Part 3 -- A buyer's job does not end with the filling of a purchase order. (by David McMahon) Game Plan for Buying at Market -- Improve your strategy for visiting market and buying new merchandise. (by David McMahon) Organize Me (Don't Just Sell Me a Desk) -- Asking clients the right questions can generate more sales. (by Shelley Parlin) Best Practice: Display and Pricing -- Get non-displayed merchandise to the showroom floor fast! (by David McMahon) Display Faster and Increase Your Cash Flow -- Move merchandise from your warehouse to your floor faster and dramatically increase your cash flow...(by David McMahon) Dogs and Dandelions -- Keep your dogs from "growing like weeds." (by David McMahon) Do you REALLY know which products are your winners? -- Know your winners - it's the difference between being a high profits store and going out of business...(by David McMahon) Improve Your Focus When Buying New Merchandise -- Know what your clients wants when buying new merchandise...(by David McMahon) Lessons from Down Under -- Doing business the Aussie Way...(by David McMahon) Spreadsheets – Don’t Get Tied Up in Them Unless There is a Very Good Reason! -- Here's an easy way to improve the efficiency of your business...(by David McMahon) Survival of Independent Retailers = Survival of the Fittest -- Become the fittest and SURVIVE! (by David McMahon) The 21st Century Method to Maximizing Your Profit -- Maximize profit with directed training...(by David McMahon) The Family Factor and Improving Your Business -- Families who work together - prosper together! (by David McMahon) The Quick and the Dead – Proper Financial Management -- Quick reacting businesses are the future of retail and they are the ones that will prosper...(by David McMahon) What is Bar Coding REALLY Worth? -- Find out what bar coding means to you in efficiency savings...(by David McMahon) When Should I Buy New Merchandise? -- Are those new items really "HOT" or are they just “DOGS”! (by David McMahon) Your Steps to Get 1% to 2% of Cost in Vendor Credits -- Maximize your legitimate vendor charge backs (VCB’s) and keep your customers happy...(by David McMahon) 2009 Issues Article Archive The Retail Store's 5 Most Common (and Costly) Mistakes -- Avoid these mistakes that could cost you your business... The 5 Most Important Things to Learn -- Metrics, systems and a plan. Why you need these to be successful... Leadership versus Management (PDF) -- Ever wonder why there’s no position title for leadership in business? Micromanaging or Micro-Monitoring – Why One Works and the Other Doesn’t (PDF) -- Micromanaging almost always sounds like a bad thing – and, mostly, it is. What about delegating authority, responsibility and accountability - isn’t that the way things should be? Well, yes and no... Why Goals Are Fundamental To Your Success (PDF) -- Managing what happens or making things happen. What kind of company do you have? Your Business' Inside Reality & Outside Perception -- Polish both your store operations and your marketing communications to overwhelm your competition... Develop a Financial and Business Plan -- Need a roadmap for the achievement of higher profitability and increased cash flow? Systems Define Outcomes -- Your goals are achieved by planning, determination and follow through... Understanding the Financial Metrics -- Key financial metrics can supplement your financial statements and let you know your business' financial performance and financial position. Use this information to improve efficiency and profitability... Management Reporting Concepts -- Manage your business easily and effectively by making your financial and inventory metrics readily available and easy to understand... Accountability -- Instill a sense of accountability in your employees... Doubling Your Profit Is Easier Than Your Might Think -- The average store netted 4% pretax to sales last year. Most think they made only 4 cents out of every sales dollar…that’s a dangerous misconception... Forget Average Profitablility...10% Isn't Hard (Part 1 of 2) -- Double-digit (10% or more) net profits are not that that difficult to achieve, IF know how, and IF you follow the rules... Forget Average Profitablility...10% Isn't Hard (Part 2 of 2) -- Double-digit (10% or more) net profits are not that that difficult to achieve, IF know how, and IF you follow the rules... Understanding the Inventory Metrics -- No other controllable facet of business can impact profits to the same degree as inventory. By understanding inventory metrics, you can improve the efficiency and profitability of your business... Buying WITH The Long Odds Instead of Against Them -- The odds are 4 to 1 that your new buy will be a “dog”. It doesn’t have to be that way... The Power of a Profitable Line-Up -- A powerful line-up means the difference between mediocrity and a winning year... Solving The Costliest Problem--Overstock (Part 1 of 2) To Nail or Not to Nail...There's NO Question About It! -- It takes discipline. Many retailers are afraid of it and salespeople fight it. So why do it? It’s one of the most profitable actions you can take, that’s why... "Wow" Delivery...A HUGE Profit-Builder -- "WOW” your customers, increase referrals and repeat business, and motivate your staff to reduce cost and waste... The Top 5 Things Your Sales Manager Should Be Doing (PDF) -- Sales managers do a lot of different things in furniture stores.... Sales Training That Works (PDF) -- Why sales training doesn’t work. It's an idea you probably already know, but perhaps haven’t seen it explained so simply... The One Most Important Thing To Know About Selling Furniture (PDF) -- Here it is, right up front: The Retail Furniture Business is not about furniture. It’s about rooms... Maximize Your Sales Force -- Can't find "good people" for sales jobs? Most sales people are under-trained, under-lead and under-coached. As a result, they under-perform and under-earn... The Three Best Things You Can Do To Maximize Sales Staff Productivity (PDF) -- Three things should rise to the top of your "To Do" list for improving overall and individual performance... Motivate Your Sales Force NOT to Discount -- Cutting prices is the easiest way salespeople know to close sales. Show them how to NOT give the store away, and still not lose any sales... Written vs. Delivered Commissions...Who's Right? -- Is paying commissions on delivered sales the “only way to go?” There really are situations where written may be better...Understanding Sales Metrics – What You Have to Know (PDF) -- Retailing is the business of selling. Sales metrics, those things we use to measure our effectiveness in dealing with
customers, are the most misunderstood and underused measurements in our industry... SMARTfinance -- Financial projections and budgeting, specifically designed for furniture operations, can help your business... SMARTinventory -- Better inventory management, better business... SMARTservice -- Systematic service management CAN benefit your business... SMARTsteps -- Learn, step-by-step, how to maximize your company’s profitability... |
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