When thinking about pricing your merchandise or services you might be tempted to look around at your competitors and then price your stuff the lowest. You figure, this way, customers will choose your company and you’ll make tons of money. But is this strategy the best? Breaking it down into the most simple terms, […]
The Small Business Landscape [Infographic]
It’s a tough landscape out there for small business owners. They’ve got a whole host of challenges to overcome and some many tasks to do that it might seem as if they’ll never get the opportunity for a full night’s sleep again. It’s not all bad news, though. When it comes to money, small business […]
7 Pricing Strategies Every Retailer Should Know
Of all the strategies you’re thinking of for your new business, pricing is the one that can truly make or break your business. Price too high and your competition will get all the business. Price too low and you won’t make enough money. Super-smart business economists have come up with dozens of pricing models […]
8 Shoplifting Myths That Cost You Money
According to the National Association for Shoplifting Prevention (NASP), more than $35 million of good are stolen from retailers every day. That’s a whole lot of stuff going out the door. If you’re a retailer, you want to do everything you can to deter shoplifters. And with approximately 27 million shoplifters in the U.S., there’s plenty […]
Is Your Business Prepared for a Disaster?
As a business owner you probably worry about things like inventory, marketing, hiring and training employees and paying the bills. An earthquake seems like a silly thing to worry about, considering all your day-to-day worries. But earthquakes do happen (as do fires, floods and tornadoes). And if you’re not prepared when disaster strikes, your […]
Social Factors and Business Performance
According to Julie Baker, a marketing professor at the University of Texas at Arlington, there are three factors that are important to the retail store environment: social, ambient and design. Today, I want to look at the importance of the social factors of your store and how you can make improvements that will increase […]
Book Review: Business + Management: For Digital Print Providers and Sign Shops
Marty McGhie’s book, “Business + Management: For Digital Print Providers and Sign Shops” is a comprehensive business book focused specifically on the sign industry. But business owners from every industry can benefit from Mr. McGhie’s business acumen. The book offers advice and insight about every single aspect of running a business. Topics include hiring […]
How to Rock the Sale Sign
While I’m certainly not an expert shopper, I do know how to shop sales when I see a sale sign. For instance, at my two favorite clothing stores, I know that the new, full-priced merchandise is at the front of the store. The merchandise right behind the new stuff is usually 20% off. The merchandise […]
