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7 Steps for Retailers to Reduce Inventory Shrinkage

Inevitably, somewhere between the manufacturer and the cash register, some of your merchandise disappears. Every retailer has this problem; in fact, it adds up to more than $42 billion in annual losses nationwide. The three biggest causes of shrinkage are administrative errors, employee theft, and customer theft. Here’s how to counteract them. 1. Use a […]

3 Great Cash Flow Ideas for Retailers

What do a used book store, garden nursery, and boutique clothing shop all have in common? No, this isn’t the set up to a joke. Unfortunately, all three types of businesses are at risk of failing if their cash flow isn’t in good shape. According to the Small Business Administration, “inadequate cash reserves” is a […]

Getting Back to Basics: 5 customer engagement strategies for health and wellness business owners

Editor’s Note: This post was originally published in January 2017 and has been revamped and updated for accuracy and comprehensiveness.  In the fitness world, it’s important to tackle the basics before you take on more challenging, complicated exercises. It’s the same in business. Building a strong foundation for your customer engagement strategies will provide you […]

Selling on Amazon: To FBA or Not to FBA?

Unless you’re living under a rock on the moon, you’re well aware that Amazon is the ecommerce success story of the century — not only for Amazon itself, but for thousands of independent sellers who take advantage of its marketing reach and customer confidence. Amazon’s FBA (Fulfillment by Amazon) program goes a step further: it gives smaller ecommerce businesses the clout and convenience of its warehousing, shipping and customer service facilities.

Increase Efficiency to Reduce Retail Labor Costs

While retailers struggle to maintain their profit margins, labor costs continue to rise. Check out these smart ways to keep them under control. Fine-tune schedules. This can be tricky in retail; there may be too many employees on the job when customer traffic is low, or not enough when the store is jammed. Analyze your […]

Pricing Your Services: Don’t Sell Yourself Short

Does this sound like you? You offer great quality service, you have an excellent customer base, but you’re still making very little if any, profit. There could be many reasons for this, but one of the most frequent is that you’re not charging enough. Here’s how to stop undervaluing yourself and get the money you […]

Social Proof: A Must-Have in Service Business Marketing

Testimonials from satisfied clients, positive reviews on Yelp, numbers data, professional association logos — these are all that marketing experts call social proof, and they are an excellent way to gain the trust of prospective clients. While they are successful in many industry sectors, they’re especially so for retail service businesses which rely heavily on […]

The Happiness Factor in Reducing Employee Turnover

Surprise: the biggest reason people quit isn’t the money (it’s not even in the top 5). What sends them out the door is unhappiness with the working conditions. That’s good news for your payroll budget, but you may have other issues to address if you want to retain valuable personnel. So what do employees list […]

The Price is Right: Developing the Perfect Pricing Strategy for Your Professional Services Business

As a professional services provider, did you know that the way you price your services is actually part of your overall marketing strategy? Whether you’re an accountant, lawyer, or business coach — if you’re pricing your services without thinking it all the way through, you could be underselling or underachieving the goals you’ve set for […]