Retailing has always been a hard business. The hours are long, profits are slim, overheads continue to rise and competition never lets up. And now we are in the midst of the worst recession in our lifetimes. So, how are we going to survive? The first reaction of many independent retailers is to work harder, [...]
Archive for November, 2009
Your landlord isn’t out to get you, but he is out to get top dollar
by Darren Fleming - Saturday, November 28th, 2009In the current environment, a business can find itself faced by a number of questions related to its commercial lease: Should we sublet and relocate to a less costly location? How can we prepare for a move? What should we watch for in the fine print of our lease? Are market conditions favourable to renewing [...]
Keeping the customer happy requires a hard look at every aspect of your operation
by Ken Andrews - Friday, November 27th, 2009When times are tough and new customers are scarce, the importance of positive relationships to retain existing customers should be self-evident. But how should you go about it? What practices and policies must you implement to ensure valued customers remain loyal?
It begins with your staff, all of your staff. No matter how junior, how senior, [...]
Your bank can’t help you if it doesn’t know you
by Bruce Fischer - Tuesday, November 3rd, 2009Be honest, forthright and sincerely committed to establishing a relationship of mutual trust and respect.
This golden rule can apply to just about any aspect of running a business, from communicating with staff to dealing with customers and suppliers. But it is just as vital to the relationship a business owner has with their banking institution. [...]
10 tips for marketing in a downturn
by Francis Moran - Sunday, November 1st, 20091. Do as much marketing as you can afford.
There is ample evidence from past downturns that the company that maintains its marketing spend through the downturn exits the downturn in a far better position than its competition. Even in the worst of times, there is still business to be written, markets to be taken and [...]
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