'Crazy' times at Christmas can help your small retail business
growth success 'snowball', or melt like snow in the hot summer
sun.
In the lead up to and after Christmas, many small business
retailers experience large increases in the number of shoppers
that visit their store, both online and offline. Yet sadly for
some retailers, this doesn't always equate to making more
profit.
For some retailers, if they don't plan and budget wisely, they
can end up losing money - instead of reeling it in at this time
of year.
Business Growth Specialist, Casey Gollan from
www.caseygollan.com.au has seen this many times over the years
and issues this timely warning.
"With a lot of shoppers coming into your store, make sure you're
taking steps to make this Christmas season a profitable one"
He lists these 5 common mistakes that small business retailers
make at this time of year, each with a remedy to help your
business.
5 Common Christmas Mistakes And How To Avoid Them.
1. Over Staffing. Set staffing to make a profit. Put on two
staff members to do 3 staff members work.
2. Not getting customer details. Capture your customers' details
so that you can market to them year round.
3. Having Stressed Staff. Develop ways to keep your staff
positive and enthusiastic.
4. No Sales & Expense budgets. Set budgets daily and weekly so
that you can guide your business into profit. Careful analysis
of your POS system and P&L's will help
5. Spending too much of your Christmas sales. With an increase
in sales, your cashflow should be good. But don't spend it yet.
You'll have suppliers to pay back in 30 to 60 days, so put money
aside to pay them.
With these 5 tips in mind, your small retail business could
have a good growth and some nice profits this Christmas.
Copyright © 2005 by Casey Gollan. All Rights Reserved
About the author:
Casey Gollan,
The
Business Growth Specialist, the Specialist who grows $1
Million p.a. small businesses into $2 to $5 Million p.a.
businesses over a 2 to 3 year period. To learn more about
Casey's Business Growth Program, visit his site and sign up for
'The 23 Secrets of Business Growth' 2 hour audio program for
FREE.
