Did You Break Your New Year’s Retail Resolution Yet?

Actually perhaps a better question is…do you even still remember what it was? Did you write it down?

The first week or so of the year is full of such hope and opportunity right? You dream about how life and your store can be different.

Often it seems like the most obvious solution to those dreams is more sales. If your sales increase, then your personal bank will increase.

There are 2 things wrong with this.

First, you have to look at profits, not just sales. I see indie retailers making that mistake all the time. To increase profits fast, you can decrease your single largest expense – your inventory cost. The crudest way to do that is to decide to spend no more than 50% of last year’s sales. If you want an even better way, just ask. It is what I do!

Second, for many retailers, dreaming is as far as they get. Dreaming about a change. Dreaming about more cash. Dreaming about more freedom.

Does that describe you? It isn’t your fault. It is because you don’t know exactly what to do. Right? It is overwhelming.

You have to get help. That is the bottom line.
Doing it alone is crazy.
It is not productive.

Look at how all professional athletes have coaches. It is because they know that quickest path to success is having support and help. You are a professional.

Think about how easy it is to see what others should do to grow their business. But it is harder to see it for yourself. Bingo. You know exactly what I mean. Find help. I am here for you! The outside perspective and support is critical.

And timing is critical.
Over 10% of the year is already over.

 

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