31 May
26 May
Your company name and brand should be your most valuable asset and the best way to build value in a business is to build your brand.
Recently, I read Richard Branson’s new book, Business Stripped Bare. There were some statements that Branson made in his book about building and the power of a good brand that resonated with me.
Branson stressed that your name and your brand is your most valuable asset in business and will be what helps you grow your company. It can also be a real asset you can lean on to help you navigate through tough times.
25 May
Retail sales edge higher in March
Actual sales volumes were up “a heftier 0.7 per cent month over month, a signal that retailers had to offer large discounts to attract buyers,” TD Bank economist Diana Petramala said in a research note.
Optimism returns about economic prospects
“The way the financial markets are going, I think it’s quite possible we’ll see a recovery sooner than the end of the year. It seems the optimism is becoming more infectious around the world, and that’s a good thing.”
Unlocking everyone’s ideas for the next big thing
Seasoned entrepreneurs know there’s a big difference between a great idea in the mind and a successful product in the hand. Here to bridge that gap is Quirky, a service that uses a collaborative process to actualize killer ideas that might otherwise go to waste.
‘Buy one, donate one’ comes to photo printing
For socially conscious entrepreneurs, implementing a “buy one, donate one” matching program is an easily communicated way of being generous. TOMS Shoes gives away a pair of shoes for each pair sold, for example, and LJ Urban’s Good matches domestic home sales with funds to build homes in Burkina Faso. Recently, one of our spotters alerted us to a similar initiative by Picture it on Canvas.
Recession primes the innovation engine
One of the banes of successful innovation is that companies may be so committed to innovation that they will give the innovators a lot of money to spend. And, statistically, 93% of all innovations that have ultimately become successful started off in the wrong direction
Multiply the Fish
As consumers grow increasingly concerned with environmental issues, the ability to carry a sustainable label has become a key attribute for aquaculture companies looking to flourish in the market.
24 May
22 May
Set the right priorities for more effective time management and see what it does to your business operations.
In 2004, The Harvard Business Review published an article entitled What Makes an Effective Executive by Peter Drucker, one of the biggest selling business authors and management gurus of the 20th century. Two concepts that really stood out for me were the importance of writing an action plan and re-evaluating priorities regularly.
Drucker writes that effective executives (or business owners) first start with a detailed action plan. Do you want to expand your store into a new product line? Have you thought about offering a new service to your customers? This article suggests that you must first start with a detailed action plan. An action plan helps by ensuring you take the time to think through your strategy and where you want to be in one year from now, but also so that you and your team know where you are going. He goes on to write that often reality does not follow the plan, however you must first start with a plan and use that plan as the basis for your time management.
Andy Buyting has been in the retail industry since he was six years old. Today, he applies his entrepreneurial know-how to Green Village Home & Garden, one of Canada's most successful specialty garden stores. Green Village Home & Garden is currently expanding into multiple locations throughout eastern Canada.
Daily Updates in Retail News: @myRetailer
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