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, [...]
Posts Tagged ‘inventory management’
Cost Reduction: A penny saved is a penny earned
by Marian Kneitz - Friday, July 3rd, 2009As a business owner, you are acutely aware of the importance of maintaining positive cash flow. But just because you’re in the black, it doesn’t mean your costs are being managed as effectively as they could be. And if the bottom line is under pressure, taking a hard look at costs can make all the [...]
Listen to what the customer wants, then deliver
by Murray and Linda Greenberg - Thursday, July 2nd, 2009Murray and Linda Greenberg, owners of Capital City Luggage, discuss how they have defined their target audience and keep their shop stocked with the right mix of inventory to keep customers coming back.
Get your fiscal house in order before shopping for cash
by Bruce Fischer - Wednesday, July 1st, 2009From a credit line with the bank to funding through the Ottawa Community Loan Fund, there are a number of financing options a business can explore to carry it through a rough patch. But it just makes good business sense to first put internal operations under scrutiny and see how cash flow can be improved [...]
Understand and control your cash flow, don’t let it control you
by David Logan - Sunday, June 28th, 2009The issue
Business people know that their business cannot effectively operate without proper cash flow. The issue is to gain an understanding of the details of your businesses cash flow needs, anticipate problems and have solutions. In general if your cash flow has deteriorated and the bank is calling you to repay a demand loan or [...]
Capital City Luggage still thriving thanks to a fundamental approach to business
by Leo Valiquette - Sunday, June 28th, 2009Murray and Linda Greenberg, owners of Capital City Luggage on Wellington Street West, have endured their share of challenges over almost 25 years in business, but a clear focus on the fundamentals of sound cash-flow management, customer service and consistent self-promotion has kept the till ringing.
In 1980, Murray left the construction and renovation industry and went [...]
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