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
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
Where Should the Money Go – Calm the Cash Flow Chaos
Have you been feeling the cash flow chaos lately? In a recent Q&A session, a retail store owner in our retail community asked a great question: Where should the money go? Allocating your sales consistently across profit, inventory, payroll, and other crucial areas seems like an unattainable goal, leading to a frustrating cycle of financial inconsistency or put more simply: … Read More