Initial Markup: The #1 Step to Take to Increase Your Profits

Initial Markup

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?

Getting 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

How to Pay Yourself When There’s No Money in the Bank

Pay Yourself When There is No Money

  Beatriz asked a question that so many store owners wrestle with: How do you pay yourself every month when there’s no money in the bank to cover regular expenses? It’s a great question—because paying yourself should absolutely be a priority! If you’re not paying yourself, your business isn’t a business—it’s a hobby. And I know you didn’t start your … Read More

Top Tip for Managing Money In & Money Out

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 Get Operating Expenses Under Control?

Operating Expenses

Operating expenses can be the bane of any retail store owner’s existence. They creep up on you, and before you know it, they’re eating away at your profits. If you’ve found yourself asking, “How do I get my operating expenses under control?” you’re not alone. Let’s break down some strategies for tackling the biggest expense categories so you can regain … Read More