DIY bookkeeping might be hurting your retail store. Bookkeeping might not be the most exciting part of running your store, but ignoring it can cost you big time. If you’ve ever felt overwhelmed by your financials, you’re tempted to push bookkeeping to the back burner or DIYing it, this is your wake-up call! Cathy sat down with Kirk Johnson, RETAILMavens’ … Read More
Stay Ahead of Retail Cash Flow Challenges: Strategies for Success
Managing cash flow is one of the biggest challenges retailers face. It’s not just about how much money is coming in—it’s about making sure it’s there when you need it. Because let’s be real: unexpected expenses will pop up, slow seasons will happen, and if you’re not prepared, it can feel like you’re constantly playing catch-up. But here’s the good … Read More
Cash Flow Eaters – How to Identify and Eliminate them From Your Inventory
Are cash flow issues keeping you up at night? If you’ve ever felt like your sales are strong but your cash flow tells a different story, the problem might be hiding in plain sight, in your inventory. Let’s talk about “cash flow eaters” and how to eliminate them for good. Ready? What Are Cash Flow Eaters? Cash flow eaters are … Read More
Initial Markup: The #1 Step to Take to Increase Your Profits
If you’re looking to boost your profits (and who isn’t?), there’s one magical number you absolutely need to master: Initial Markup (IMU). Initial Markup is a game-changer. It’s the not-so-secret ingredient to running a successful, profitable store. And I know—it might sound boring or complicated. But trust me, once you get a handle on it, you’ll see how empowering it … Read More
How to Get Out of a Retail Mess?
Have you ever found yourself wondering, “How do I get our of this retail mess?” You’re not alone. Matt, a retailer with 18 years of experience, recently asked me this: “How do I correct this mess I’m in? I’ve been in retail for 18 years and still don’t know the science behind what makes this work.” First, let me just … Read More