With over 25 years of frontline experience Tom Shay is America's leading small business
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Is is a blind price item?
1. Extra
time to price
2. Extra handling for customer
3. Natural add on item
4. Seldom used
5. Repair or replacement item
6. Luxury or status appeal
7. Seldom promoted
8. Not seasonal
9. Recreational item
10. Not sold in mass merchant
Score one
point for each yes answer to the 10 questions.
Possible margins are:
1to 3 points -- 40% to 45%
4 or 5 points -- 46% to 55%
6 points -- 56% to 60%
7 points -- 61% to 65%
8 to 10 points -- 66% and more
DECEMBER 2024 Have the Small Business Advisories and News sent to your inbox. Subscribe HERE
Past our announcement that the December newsletter starts our 26th year, we are discussing what is and what is not a problem.
Starting with, all these announced closings of retail operations is not a problem indicative of retail. It is an indicator of chain stores trying to correct the problems they previously made.
Article of the Month
We came across a solution of tasks not getting done as well as tasks not done correctly. We created an owner's manual for our business. Details in the Article of the Month.
Book of the Month
Atomic Habits by James Clear. Have you ever caught yourself saying that you had gotten out of the habit of doing something? Perhaps it is something you need to continue to do? This book can be applicable to personal and business life.
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With over 25 years of frontline experience Tom Shay is America's leading Small Business
Management
Expert. He's a "Must Have" for your next event.
Whose job is this, anyway? Have you heard that before? The December Small Business Article of the Month offers ideas from those who have found solutions.
Past our announcement that the December newsletter starts our 26th year, we are discussing what is and what is not a problem.
Starting with, all these announced closings of retail operations is not a problem indicative of retail. It is an indicator of chain stores trying to correct the problems they previously made.
Article of the Month
We came across a solution of tasks not getting done as well as tasks not done correctly. We created an owner's manual for our business. Details in the Article of the Month.
Book of the Month
Atomic Habits by James Clear. Have you ever caught yourself saying that you had gotten out of the habit of doing something? Perhaps it is something you need to continue to do? This book can be applicable to personal and business life.