Well, here we are at the end of one year and the beginning of another. Welcome, 2016! For many people, this is the day we make resolutions for the upcoming year. Often these hopes are for something in our personal life. Do you also take time to make resolutions for managing your business? And for…
A downtown retail store owner told me she closes at 5 pm because she hates to stay later. She gets to work at 8 am most days, and so at 5 pm she’s ready to go home. She doesn’t like to delegate at all, she told me, and she wouldn’t ask anyone to do anything…
We know having a safe workplace is important. We know it’s a good business practice. We know it can save us money and maybe even save us from financial disaster. We know but do we always practice? And is it high priority? Moreover, have we instilled it into those working at our company, whether employees,…
Today, you have unprecedented support available to help you build and improve your business and to survive any economic conditions. No matter how small a town or isolated an area you live in, internet access connects you to astounding resources. You can read advice from experts, including those in your own field. You can connect…
Another great source for business intelligence: the Retail Owners Institute offers industry benchmark data on six key financial ratios. In a section called Store Benchmarks, they break down industry averages into 51 different retail lines. They give five years of data for these six financial ratios: Current Ratio Gross Margin Percentage Return on Assets Percentage…
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