Let’s break down the hidden costs of inventory hoarding and share simple strategies to clear out old stock while protecting your margins. Have you ever looked at a product sitting on your store shelf for months and thought, “Someone will buy this… eventually.”? Lazy inventory is like trapped cash, and it’s time to set it free! What is Inventory Hoarding … Read More
Top Tip for Managing Money In & Money Out
Managing money – the constant juggle of incoming revenue, paying bills, and ordering new inventory, can feel like an impossible task for store owners. Without a plan, it’s easy to get overwhelmed – and let’s be honest, we’ve all been there. That’s exactly why I love the Profit First method. It’s not just another bookkeeping system; it’s a game-changing framework … Read More
How Do I Make More Profit?
Every week, store owners in our community ask a different version of the same question: How do I make more profit? It’s a question that often comes with an equal measure of aspiration… and frustration. A More Profit Mindset Now, before you rush to cash management strategies – action steps to take, there’s a crucial mindset shift you must make … Read More
Profiting in the Retail Off-Season
How can you make sure you’re profiting in the retail off-season? This was a great question I received in our retail community recently, and I know many of you can relate. First things first—profitability is the goal, no matter the season. However, in a retail off-season, cash flow can take a dip, even if your business is profitable. So, let’s … Read More
3 Steps to Budget for Retail Profits
I’m about to share 3 steps to budget for retail profits – a crucial topic inspired by a question from our retail community: How do I create a strategic budget to maximize profits in my retail business? As the CEO of your retail business – you HAVE to know your numbers. I’m going to say that again: You don’t have … Read More