myRetailer.ca

Get Back to The Future

Now is the time to turn to long-term planning to prepare your company to seize opportunities that come with an upturn, says Rob Koturbash of The Maple Leaf Angels, a group of private investors.

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Five underutilized features of the modern POS

The retail point-of-sale system has come a long way from its mechanical roots. The first cash register, patented in the late 19th century, did little more than ring up purchases and store cash. Today’s POS does those things, of course, but it is also a sophisticated tool capable of amassing enormous pools of business intelligence.
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Back-to-school shopping to test retail resilience

As students study for final exams, the retail industry is gearing up for its biggest test so far this year — the back-to-school shopping season.

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It’s Great To Be a Mompreneur

Many benefits of being an entrepreneur are true for any business owner, not just moms. After all, what’s better than you being the boss? You call the shots! As entrepreneurs, we’re not at the mercy of an employer to be fired or laid off at will. And the money you make as an entrepreneur is yours. Your hard work pays off for you.

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Social Entrepreneurs = Entrepreneurs

Social entrepreneurs appear to make quite deliberate decisions to solve social problems, rather than simply stumbling into their work by accident or circumstance. They are often quite sober about their decision to attack a social problem, and they usually understand the consequences of challenging the status quo. I also find that social entrepreneurs are driven by a persistent, almost unshakable optimism. They persevere in large part because they truly believe that they will succeed in spite of messages to the contrary. This optimism can border on overconfidence, but is essential to their 24/7 commitment.

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Fewer Words, Better Communication

“Even the president of the United States can do a one-page resume,” she said. “Summarize.”

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Don’t make knee-jerk calls

“I think this downturn is as much an opportunity as it is a threat because it allows us to evaluate what is important in a very serious manner and to be able to do things better and smarter than ever before”.

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A little extra TLC goes a long way

Only if you are in constant touch with buyers and prospects will you be able to anticipate changing needs and market trends, and thereby position your company for success when the recovery comes.

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Making Money in Chaotic Times

Every company is vulnerable not only to an economic downturn but to other disruptions that may come from technological change or from new global competitors. So the question becomes: how can companies do a better job of anticipating disruption?

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Unless you live in a cave, stuff happens

The Canadian Federation of Independent Business prepared a few suggestions we’ve been working to convey to small business owners on a broad basis.

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From the Mind–and Heart–of a Child

“Kids are the ones with new ideas,” Hansen says. “They are the ones who will innovate, start new businesses and I believe the kids are the key to economic recovery.”

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Are You Ready for a Crisis? You Can Be!

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Embracing Your Inner Customer

Customers are the very root of any business, and creating policies that upset them, no matter what reasons you put forth, will backfire in the long run — either in customers deserting you (and telling their friends/partners/colleagues) or in opening up a massive opportunity for competitors who treat customers correctly

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• Just added myself to the http://wefollow.com twitter directory under: #retail #smallbusiness #can #

I was traveling with my wife last weekend in Niagara On The Lake, when we stopped at a beautiful little garden centre on the way into town. I was pleasantly surprised by the creative displays that the staff at Regal Florist and Garden Centre had on display.

Regal is owned and operated by Darrell Boer and his partner. They’re famously known for their flower shop and their quality cut flowers, as well as their garden centre where they specialize in different and unique products for their clients. Within a very short drive, Regal has more competitors than I care to think about. However, the company has been able to compete successfully by carrying unique product lines not carried by their competitors, and by their merchandising that has allowed them to expand successfully into new categories.

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What do ice cream cones and butterflies have in common? Nothing, but that hasn’t stopped me from combining them in my small lawn and garden centre to create a unique shopping experience. We sell ice cream cones, and lots of them. Our butterfly conservatory attracts customers who would otherwise never set foot in a home and garden store.  We barely break even on the ice cream, and generate no direct revenue from the butterfly exhibit.  But both increase foot traffic to our store and win the influence of children and spouses who aren’t typically interested in shopping for flowers or gifts.

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