Nailed It!

Happy New Year!

Time to take a breather from the business and redirect our attention to themore important things in life like enjoying the holidays with family and friends. Your customers are also taking a well deserved break unless they are in retail frantically trying to liquidate inventory and maybe make a few dollars.

During this hiatus you can actually do some healthy, productive things for you and your business:

First, enjoy yourself! The business will be okay for a few days without you worrying about it-you can’t compete with Christmas and the Holidays. Do whatever sets you free mentally and physically-running, walking, movies, shopping, skiing, surfing, bowl games, basketball…lots to do. Need to recharge your batteries, outlook and attitude.

If you do go to the office, there are some productive activities that can help you in the New Year. The New Year brings hope but let’s not forget valuable information from this year and even last year.

Without the phone ringing, look back over last two years to see who you sold the first quarter. It’s easier to follow up with old accounts and check for reorders than make cold calls. Continue Reading »

HO! HO! HO! Making a list and checking it twice?

This year is in the books-good, bad and the ugly! Time to reflect on successes and strategies that fell short. Before we succumb to the Holiday festivities let’s also review that budget that we meticulously prepared several months ago. The playing field has changed for many-no point in going to war with an outdated plan and weapons!

Let’s make a list:

• Check our assumptions - revenue, operating costs, margin expectations, product mix…realistic, achievable goals are useful. Exceeding our sales goals may bring on another set of challenges. I’ll take those any day.
• Marketing – do we need to rethink our target markets and sales campaigns or are we okay.
• Revisit material costs – you may get a pleasant surprise. Check your large purchase items. If you are having to adjust your pricing in the market, they might be adjusting too…don’t get me wrong, we all need strong vendors, but everyone is doing a little belt tightening. Continue Reading »