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Inventory Shrinkage - No one likes it, especially when it’s owner induced!
Every time you take stock off the shelves to feed your family, or wear out with friends, or for the kids or pets to play with, there’s a price to pay. You think you’re saving money because you’re only paying ‘cost price’, but in the long run it could be costing you 3 or even 4 times more than you think it does. Don’t believe it? Let me prove it to you.
Work Out your Exit Strategy on the Way In.
There are two ways that your business can make you money. The first is from the profits you make for all the years that you own it, and the second is when you sell it. To leverage both, from the day you first walk into your business, you should be planning for the day that you finally walk out.
Build a ‘Just in Case’ Cache.
Plus FOUR more lessons we can learn from squirrels! Did you know there are squirrels that hide their stash so they have something for the winter, and those that leave half eaten nuts lying around hoping they’re still there when they come back. Risky!
I bet you know which ones I think you should emulate? Read on to find out why.
Experiential Shopping - What is it and why is it so important?
In simple terms, experiential shopping is what makes the difference between shopping at a ‘real’ bricks and mortar store and an online one. It’s the unique experience that only a physical store can provide and it’s a retail trend that should not be ignored.
Unlock your Creative Brain - 3 Techniques for Business Owners
In Experiential Shopping (Part 1) I gave the example of the ‘town centre’ table arrangements at the Apple store, and so the challenge for you is to figure out what is your version of this is. Being creative doesn’t come naturally to everyone so in this blog, I’m giving your three techniques to get your creative juices flowing.