Life has a way of knocking you to the ground


Have you ever noticed how easy it is to be blown off course?
In Business things can happen that effect you greatly, and often without warning.
Even a perfect ship can sail into stormy waters.
Sometimes it can seem easier to surrender to adversity, lose faith and walk away.
Faith, and I am not referring to religion, must endure, because if it does not, what was the pain for?
We set out on our journey of business ownership, full of promise, in the belief it cannot fail, but in truth what contingencies did we make if we hit a storm?
Quite often there is no plan b.
Their has got to be a plan b.
I have found continually updating, adding and subtracting new brands, concepts, keeps the business current, and one step ahead of the competition. Everything we make, sell, or service we supply must be profitable. If it isn’t DITCH it!
Better to let the other guy sell the stuff no-one wants at no profit.
Now this goes for the good stuff to! What do I mean by this? If you go to some well known retail websites selling top mens fashion brands such as my favourite, Paul Smith, you will find even the maestro, does not get it right every time. Retailers that sell these type of brands have to purchase a minimum stock, and a range to be allowed to carry the brand. When you see 50% off it is not because they want to offer this deep cut! this being total gross margin on most fashion, more do they need cash to purchase next season stock! which they ordered 6 months ago, and is now starting to arrive for next season.
If you keep selling goods at this level and depth of cut price, how do you cover overheads? E commerce is one way, but imagine if you were a Debenhams. Imagine the overheads!
Every square inch of retail space must produce profit, if not it is just like inviting someone to stay in you spare room, and not pay rent.
Space costs. You pay rent and rates on square footage, so why should retail space not have to produce the equivalent in profit for you!
Are you getting it?
Keep your product lines tight, primary sizes, and colour ways. Stick to 1 genre, do not try to be all things to all people. Stock costs money, discounts have to be paid for!
Not everyone will like you or your product, services, sad but true.
Take risks, get more decisions right than wrong; No risk, you will not make money!
Stay fresh, current, and vibrant.
Be Happy, morgues are full of sad people.

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