Articles

David McMahon presents a checklist for eliminating weak links to help you improve retail furniture store efficiency in 2013

No matter which software system you are running, you have thousands of report queries available. How you sift through this data and make sense of it all is the purpose of business intelligence or “BI”.

David McMahon presents proven strategies that can produce 50 to 60 percent gross margins even in highly competitive markets.

An in-depth look at how to analyze one of your three critical financial statements: your statement of cash flow.

An in-depth look at how to analyze one of your three critical financial statements: the Balance Sheet.

An in-depth look at how to analyze one of your three critical financial statements: the Profit and Loss.

99% of furniture retailers will have their own app within 5 years.

Flexible Budgeting lets you ‘Flex’ your top line and observe the resulting operational effects on your P&L and operating income.

Program fills a void for furniture retailers that can benefit from better planning, budgeting, and forecasting, but don’t have a full-time CFO.

A performance scorecard is used to measure your progress with respect to achieving goals. Those business people that do it properly have a significantly better chance of succeeding in their marketplace.

This article will demonstrate how to calculate your break-even point of sales. It also provides real world examples of ways smart retailers can reduce their break-even points and level of risk.

Today, consumers initiate their shopping experience. If they find you through Google, you have a chance to get their business. Here’s how to manage your e-tail inventory to make the most of an initial website contact. Included is a 12-step process that will help to make their buying decision easier.

Using rewards as enticements and threats of punishment are approaches aimed at obtaining obedience and compliance, but they can overpower, rather than empower.

A prime reason why top performing companies out perform their average performing peers is because they pay people extra when they perform better. Here is how to go about taking this path to success.

This article is about selling more inventory and improving inventory buying. David McMahon presents a coordinated approach to age your inventory, mark it down and provide sales compensation incentives to improve profitability.

The business analysis will help furniture retailers visiting the Las Vegas show identify areas of opportunity in their business to increase profitability and cash flow.

David McMahon shows you the core practices that the most profitable businesses follow to achieve the highest return on their inventory investment.

Some retailers seem to always manage to perform well. In this article David McMahon takes a close look at what those successful retailers do to cut costs during lean times and achieve maximum returns. Specific steps to cut fixed costs and make retail operations more responsive to cost cutting measures are examined.

Track this inventory metric to understand your customer’s buying patterns, establish a more relevant product mix, satisfy more people and sell more.

e-Showroom enables retailers using PROFITprofessional software to integrate and cross reference their inventory with vendor catalogs and display them directly on their new e-Commerce enabled website.

Summit sponsored by The Lively Merchant, NHFA and World Market Center.

What are the characteristics that separate the best operations from the worst?

Old media techniques broadcast a campaign that is the same for everyone. Here’s how to target specific groups with messages they want to see, when they want to see them.

This article tells the story of a furniture store owner in St. Augustine who used fresh tactics to beat last year’s numbers in November, December, and January. How he did it is instructive and worth your attention.