Inventory management or stock control, encompasses all the tasks you carry out to keep your inventory in check. Activities like ordering products, storing your merchandise, counting items, and forecasting demand are all components of inventory management. Having the right products at the right time for your audience is critical in retail. In order to run […]
Measuring The Health Of Your Business With Ratio Measures
When you’re running a business, it’s easy to get caught up in the day-to-day activity and lose sight of the big picture. Taking stock of the health of your business is important. Knowing where you’re allows for more effective planning, early warning about any issues, and the chance to better chart a course for success. […]
How To Deal With Difficult Customers
Dealing with difficult customers can be… well, difficult! If you and your team find yourselves in less-than-pleasant shopper interactions, having a plan is useful so you are better equipped to handle these situations with ease and grace. Prep yourself mentally – Having the right mental attitude will help prevent your buttons from getting pushed and enable […]
5 Ways To Prevent Or Deal With Out-of-stocks
Out-of-stocks are one of the worst problems you can have as a retailer. Not only do stockouts lead to lost sales, but they can also lower your customer satisfaction levels. Here’s the good news: there are several things you can do to prevent and deal with out-of-stocks. It starts with having good systems in place […]
Looking to improve business performance?
Here are ten ways to make sure that you continue to drive through each business quarter with purpose, vision and the courage to super-charge your business. 1. Eliminate distractions: Time is the scarcest resource and biggest killer for most businesses. When we get busy we can also get distracted and focus too much time and energy […]
Have You Got A Plan For Growth In Your Business?
Growth doesn’t need to mean more risk, more hours and more headaches. It may be as simple as identifying where the opportunities for growth are in your business and industry. Once you’ve done this you can establish what you and your team are going to have to do in order to maximise these opportunities, and […]
Top 8 Things To Outsource In Your Business
If you’re looking to scale your business, you’ll need to spend more time working on it than in it. Finding ways to leverage your time is critical, and outsourcing your least favourite tasks is a great way to do this. Things you should consider outsourcing in your business: Digital marketing. From your content strategy to […]
Understanding Your Strengths And Identifying Opportunities
The more you understand about your business, your market and your competitors, the better prepared you are for the business journey that lies ahead – and this is where a simple SWOT analysis can be an invaluable tool in your strategic armoury. But what exactly is a SWOT analysis? Building a detailed picture of your […]
How To Scale Up Your Business
Scaling up isn’t just a case of letting organic growth take its course – genuine hypergrowth means achieving accelerated 20% growth over a 3-year period. A big ask for any company! So if you’re planning to make the transition from established startup to ambitious scaleup, what are the foundational elements you need to get right? […]
