The cruel reality when your own a dollar store is the margins are extremely tight. If you are to create dollar store profits you must be a good business person. You must understand how to manage inventory. You must know how to purchase wisely. You must know the drivers to increase dollar store profits. For example, it is a mistake to waste time and effort on actions that return a few dollars in cost reduction rather than actions that can yield...more
Starting your own new business has many challenges, especially when its a dollar store. There are questions about the right format, which location is best, how big does the store need to be, what is the right time of year to open, where to find the best dollar store merchandise, and so much more. Answering those questions is where locating a knowledgeable dollar store expert can really help you. To learn more just read on. In this article I...more
Starting your own business is filled with risks, challenges and unexpected problems. Yet for those who take action and actually start there own business there is the potential for so many rewards. Theres the pride of ownership. Theres the freedom of being your own boss. Theres the potential to make big profits. The list goes on. For those opening a dollar store there are certainly plenty of opportunities for reward. Yet there are many opportunities to make mistakes as well. For example you could buy the wrong dollar store merchandise to open your store. Some of the mistakes will be close to fatal for the new business. Others will likely do damage to the business but not leave it beyond repair. In this article I present 8 mistakes to avoid when you start your dollarstore.Mistake #1 Opening a dollar store without proper funding and financing. At one time there were many lucky dollarstore owners who started with a little cash, some credit plus a wish and a prayer. Well, the times when that strategy will work are gone. Dollar stores are retail businesses. They must be managed with intelligence and sound judgment. One place you should never compromise is when it comes to...more
Despite the worsening conditions of our economy, quick-thinking individuals still manage to find success in opening niche, but profitable businesses. These businesses prove not only to be very financially rewarding, but they also have the ability to elevate the status of the people who make the decision to take their life into their own hands.So if...more
Sounds too good to be true doesnt it? Believe me its not. I know firsthand its my real life story and now I coach other people to hit goals they never dreamed possible! Herere the facts: In less than a year I went from 0 (actually less than zero, I had debt) to a new sports car, a newly furnished beautiful home, and yes, a trip to...more
Due diligence is an essential step in real estate investment. After selecting the property type and geographic location, the investor needs to ascertain he has accurate information regarding the physical asset, financial performance, tenant base and future prospects for the subject property. Due diligence helps the investor accomplish those tasks. Due diligence can provide in-depth data and insights for these areas and mitigate the risk of a real estate investment. The costs associated with due diligence are minimal compared to the costs of making an imprudent investment decision.In addition to investors avoiding unfavorable investments, due diligence can:Enable investors to quickly pass on potential investments which do not merit a complete analysis; Save money and reduce the time an investor spends evaluating a possible investment by more quickly declining an investment which does not fit the investors criteria or that is not consistent with what was presented; and Provide the investor with a better understanding of the benefits, costs, risks and opportunities related to an investment.The financial costs and time expended by the investor and the opportunity cost (of not...more
Truly Great Leaders expect maximum productivity from everyone!In High Performance Teams absenteeism is very low, productivity is high, and people are busy doing what they should be doing to contribute, they are entirely relaxed about the leader and...more
All project management is risk management (Eric Verzuh)Risk management is an essential activity in any project or organisation. Risk is defined by M_o_R (Management of Risk, the OGC risk management methodology) as uncertainty of outcome. A risk...more
Every activity and situation carries risks. Whether you are launching a new project, providing ongoing services or heading a strategy for widespread organisational change, thorough and effective management of the risks involved is essential to ensure...more
Amid the frenzy of homeowners facing foreclosure, potential buyers struggling to obtain loans and banks, lenders and realtors trying to stay afloat, I feel like there are lots of questions that no one is asking! Correction, the regular guy on the...more
For many people the thought of using an online e-currency can be a scary thing. We have all heard the horror stories of people being scammed and money being stolen by dishonest companies, but there are some companies out there that have worked hard...more
Are You NutsThat was the response I received from the first client I spoke with a few days after opening our doors for business. The husband and wife were questioning my sanity because I was suggesting that the time was right to be investing in a...more