Mentors
Latest
How can I make my inventory control more efficient?
Here's a four-step strategy to help you to clear your existing stock while managing your future inventory.
How should I handle a customer complaint to ensure that I don’t lose her as a future buyer?
Most customers don't complain. They simply don't come back. So the fact that your customer has alerted you to a problem is wonderful!
How do I find a reliable supplier?
The future of your business literally rests in the hands of your suppliers. Here are three steps to finding and keeping a great supplier.
Should I launch my own department store?
I can’t fault you on your ambition. Just make sure you learn from the recent struggles of David Jones and Myer first.
Is there an ideal opening line to use when you cold call potential clients?
Unfortunately, there is no such thing as a magic opening line that works with everyone. Instead, think about the value your product might bring to each individual customer.
Is it worth joining a retail traders’ association?
Retail traders’ associations can potentially bring benefits to your business, but there are a few key things you must find out first.
My last promotion didn’t increase sales. What did I do wrong?
We now live in a multi-channel world. Sales promotions need to be planned accordingly.
A good marketing plan shouldn’t be brain surgery
Marketing is an important part of any retailer’s artillery when it comes to driving sales.
Should I encourage my staff to chat to customers in-store?
Person-to-person conversations are the key ingredient in breaking down resistance. Short and quick statements don’t get you anywhere.
I have some hard-to-shift old stock. What should I do?
Firstly, you need to set a goal as to when you want all stock cleared. But there are some other tricks to help get it out of the door.
How can I best go about reacting to customer feedback?
When a customer makes contact, thank them for their feedback – good or bad.
Our market is sluggish and nothing we do seems to be cutting through with customers. Help!
Your mental mindset plays a tremendous role in your success. While it is difficult to maintain a positive perspective during times like this, it is essential to keep focused on your main objective.
I feel intimidated by clients. Help!
As a new business, you will soon appreciate the need for “confidence builders”.
How can I discount my stock without damaging the bottom line?
Avoid rushing into top-to-bottom price cutting and focus first on thinking through a discount strategy.
What makes a good business card?
Don’t listen to anyone who tells you that business cards are passé. They’re wrong.
Are there any easy ways to ascertain how happy clients are with our services?
Peppering your customers with inane questions is the easiest way to scare them off. Try a professional survey instead. But be prepared for the brutal truth.
What’s the fastest way to get a new team member up to speed? Should I throw him in the deep end?
They wouldn’t be getting near my important clients until I’d first seen the relationships they built with my “not-such-important” clients.
How can I find where my customers are and how can I assess what they require?
Whether it’s from websites, social media, articles or magazines, it’s vital to glean as much information about your customers as possible.
Can we charge a fee if a client pays their invoices late?
The problem with late fees is the angst it causes and the destruction of goodwill it can bring. Penalties have been known to drive clients away from doing future business, so tread carefully.
What do I need to look for in a cross-promotions partner?
Even the most time-poor retailer can attract more customers with less effort through the right cross-promotions.
