myRetailer.ca

Tapping into the creativity of your staff can prove to be very profitable.

We’ve all heard the saying that some of the best ideas come from where you’d least expect it. How many of us allow our staff to run a little wild with some of their ideas, regardless of how crazy they may seem?

Recently one of my sales people, Linda, asked if she could book a wedding in our store among the flowers. She had a young couple that were interested in holding a small wedding right in the store. This was a very unusual request and my first thought was that it would interrupt normal sales too much. In short, I wasn’t crazy about the idea.

We came around (myself and our managing partner) when she agreed that it would be held in the back end of the store, it wouldn’t cost much in time or materials and the couple was willing to pay for the space.

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Tax credits help boost home renovation stores

A federal tax credit program is helping to bolster sales at Canada’s major home renovation retailers, at a time when they are suffering from the toughest economic downturn in decades.

Read Full Story or take a look at one of my blog postings “Canadian Home Improvement Tax Credit for Retailers“

How Technology Is Changing the Rules of Retail

Food Lion’s Bloom format encourages consumer engagement via Breeze kiosks that feature handheld scanners that enable consumers to scan and bag as they shop, see a running total and speed-up checkout. Freestanding Breeze info displays allow shoppers to check prices, retrieve shopping lists, find and print recipes, and even generate bar-coded price stickers for random weight items.

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How to build an effective management team

To understand why a small business needs a management team, Sean Wise, professor at the Ted Rogers School of Management, Ryerson University, Toronto, sums it up succinctly: “People are central to business success.” Mr. Wise, also a venture capitalist, has quantified that assessment. “Eighty percent of my investment decision is based on the quality of the management team.”

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How to go public cheaper and faster

“In these economic times, people are looking for ways to save money and it makes a huge difference if you list on the CNSX. It’s faster and less expensive. Also, there’s greater certainty you’ll actually complete your listing. They’re much easier to work with and give conditional approvals earlier.”

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Office space by the hour

“Small business owners are looking for cost-effective solutions to renting office space, which can easily run between $6,000 and $8,000 a month, and that’s where we come in. We offer a prestigious business address, mail service and 24/7 access to the space on a pay-per-use basis. It’s a variable cost as opposed to a fixed cost of thousands a month on a lease.”

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Bouncing back to win big

“Getting $100,000 here and $100,000 there is one thing. Getting this $6-million deal has allowed us to go out and purchase equipment that will have a lasting effect on our business. It helps us stay out front in terms of the competition and be a leader.”

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P.E.I. to set up electronics recycling

Environment Minister Richard Brown introduced amendments Wednesday to the Environmental Protection Act to establish electronics recycling depots across the province.

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• RT @retailindustry: Retailers growing & hiring in 2009… http://tinyurl.com/bnzvmj Go where the jobs are! #retail #news #
• hre’s the vid we shot at the store covering the facts abt our busiest day of the year – Mother’s Day http://tinyurl.com/ql2q8d #
• List of retailers that are closing and expanding http://bit.ly/Ue3gC #
• Mother’s Day was a terrific day for us to start spring sales and get a feel for what’s to come in sales this yr #

Achieving dreams and overcoming obstacles in business and life.

Business can be tough at times, especially when you’re in business for yourself, and responsible for leading the ship. How often have you faced obstacles in your company that may have seemed insurmountable at the time? Or how many times are you faced with a challenge that just doesn’t seem fair? We all have. Especially in today’s economy, I’m sure many readers are facing some major challenges right now.

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Reliable Point-of-Sale Solutions Crucial for Florists Who Process Up to Three Per Cent of Annual Business on Mother’s Day Alone

Canadians certainly love their moms, lavishing them with flowers, spa treatments and jewellery for Mother’s Day 2009. Point-of-sale results from Moneris Solutions, Canada’s largest provider of payment processing solutions, reveals that florists across the country experienced a surge in business between the first weekend in May and Mother’s Day weekend, with credit card transactions jumping by 5 per cent over the previous week in the flower, spa, jewellery and garden retail categories. Debit cards were active, too, with florists processing 255 per cent more than during than same period last week.

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