WHAT TO DO IF YOUR RETAIL BUSINESS IS IN TROUBLE

Written by James A. Nannen


Continued from page 1
3.Get rid of dead stock and don’t replace it. Selling out on product you have no intention of replacing puts liquid cash in your checking account. Surplus cash…that’s what you need. 4.Cut down on your buying. Only replace stock you sell that is an absolute necessity. 5.If you have business loans with your bank call your banker and set up a meeting with him personally to explain your situation. Don’t paint a bleak picture or a rosy one. Bankers like to knowrepparttar truth. Tell him your situation as best as you can and ask if it will be possible to delay a couple of month’s payments while you sell off some surplus inventory. Explain everything you are doing to get your business back on solid footing. 6.Dorepparttar 106604 same with your suppliers. Be honest. Ask if it would be OK to make weekly payments on your outstanding invoices while paying up front for future deliveries. 7.Eliminate all advertising. Cut all of your advertising cold turkey. Those advertising dollars will begin to show up in your checking account within weeks and you will certainly find that much of it was unnecessary. I’d bet my life on it. 8.Don’t pay your rent. That’s right. Of allrepparttar 106605 people that you must pay,repparttar 106606 rent comes last. You need employees. You need product. Rent and advertising can wait. Now, of course sooner or later you will have to pay your rent, but it is one of those things that if delayed can normally give you a little breathing room and negotiating time. When it gets real critical…then talk with your landlord. 9.Fill your store up with all ofrepparttar 106607 product it takes to have it inventoried as well as it should be. That’s right. Fill it up even if you have to borrow money against your house to do it! If you know that you are under inventoried and you know that with more product andrepparttar 106608 right product you will do more business then what are you waiting for? Turn that new inventory a minimum of once a year and you will make thousands. Well, that’s my story for this month. There are other things you can do when business is not great, but we covered some ofrepparttar 106609 most important today. Hope it has been helpful. Happy New Year!

Thanks and may your registers always be full, Jim Nannen Smartretailers.com

Byrepparttar 106610 way, you can now purchase copies of my book $MART RETAILER$ RETIRE RICH! from Amazon.com as well as my web site: http://www.smartretailers.com.

**This information may be freely used and reprinted anywhere as long as it is done so in its entirety and our web site www.smartretailers.com is credited. Send it to a retailing friend. Thanks.



ABOUT THE AUTHOR

A self-made retailing multi-millionaire, in 1965 he hopped a freighter for a month long journey to Australia where for a year he was one of the highest paid door-to-door sales people for the Collier’s Encyclopedia Company in Sydney. He returned stateside in 1966 and in 1968 he became involved in the early stages of the retail pet industry as we know it today. Nannen may be reached at www.SmartRetailers.com.




Thinking About A Public Relations Career?

Written by Robert A. Kelly


Continued from page 1

In my experience,repparttar key question about that central function was, and still is “What do both internal and external clients want from us?” I believe they want us to apply our special skills in a way that helps them achieve their business objectives. But no matter what strategic plan we create to solve a problem, no matter what tactical program we put in place, atrepparttar 106603 end ofrepparttar 106604 dayrepparttar 106605 public relations professional must modify somebody’s behavior if we are to earn our money.

That’s right, modify somebody’s behavior. But, onrepparttar 106606 way we must do everything necessary to reach our target audiences, and to nurturerepparttar 106607 relationships between those audiences andrepparttar 106608 client’s business by burnishingrepparttar 106609 reputation ofrepparttar 106610 company, its products and services. We’ll do our best to persuade those audiences to do whatrepparttar 106611 client wishes them to do. And, while seeking public understanding and acceptance of our client, we’ll insure that our joint activities not only comply withrepparttar 106612 law, but clearly serverepparttar 106613 public interest. Then, we pull-out all tactical stops to actually move those individuals to action. Our client will be pleased that we have brought matters to this point.

But, when that client measures our real effectiveness, I suggest that he or she will be fully satisfied with those public relations results only when our “reach, persuade and move-to-action” efforts produce a visible, and desired, modification inrepparttar 106614 behaviors of those people our client wishes to influence. In my view, here isrepparttar 106615 central, strategic function of public relations –repparttar 106616 basic context in which we must operate – and one that is best learned atrepparttar 106617 beginning of your career.

end



Bob Kelly, public relations consultant, was director of public relations for Pepsi-Cola Co.; AGM-Public Relations, Texaco Inc.; VP-Public Relations, Olin Corp.; VP-Public Relations, Newport News Shipbuilding & Drydock Co.; director of communications, U.S. Department of the Interior, and deputy assistant press secretary, The White House. mailto:bobkelly@TNI.net




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