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|Thursday, February 01, 2007|
There is always a lot of speculation and discussion regarding who is at fault when a small retailer fails. Many people cite higher fuel prices, poor location, shrinking labor markets and even the weather as reasons why it is more difficult to succeed today. However, a great many point directly at the influx of mega retailers, superstores and category killers — a.k.a. Big Boxes — into the area.
This includes the management team, organizational structure, job descriptions, employee commitment and training. If the employees don’t believe in the mission or don’t understand the company vision they won’t compete favorably over time with anybody.
Successful companies have a knack for hiring, developing and retaining knowledgeable employees, thereby rendering better customer service in sharp contrast to the Big-Box approach of (under)staffing the store with poorly trained part-timers. The important questions owners need to ask are:
This includes customer satisfaction, market segmentation, profit-center development, product and service mix, company branding, promotion and pricing. Unfortunately, pricing is a very common whipping boy and gets the blame for many small retailers’ failure to compete. Nothing could be further from the truth. Price is only a differentiator in a commodity-driven market and customers understand that a company cannot be the lowest priced and still be the best.
The third and most important aspect of a successful small business is positive cash flow and reliable cash flow projections. These financial indicators don’t lie and really give the true financial condition of the company.
There is no doubt that the changes and efforts required of small-business retailers to be successful in today’s competitive environment are demanding, difficult and oftentimes painful. But that is exactly what makes these efforts so valuable and sets certain retailers apart from the rest.
Thursday, August 28, 2014
OB Research Editor Kim Moore shares some pointers about the 100 Best Companies to Work For survey.
Tuesday, August 26, 2014
Parents and students paying for college today are like homeowners who bought a house just before the housing bubble burst.
Wednesday, August 27, 2014
BY LEE VAN DER VOO
By now we’ve all read the headlines: Starbucks is giving away free degrees. Except it isn’t.
Friday, August 15, 2014
In this week's poll, we asked readers: "Who should pay for the troubled Cover Oregon website?" Here are the results.
Thursday, July 24, 2014
BY CLIFF HOCKLEY | OB GUEST CONTRIBUTOR
With the increasing retirements of Baby Boomers, a massive real estate shift has created a significant increase in demand for NNN properties. The result? Increased demand has triggered higher prices and lower yields.
Wednesday, August 27, 2014
BY AMY MILSHTEIN
Agriculture businesses ramp up to meet international demand as workforce and succession challenges loom.
Wednesday, August 06, 2014
BY LINDA BAKER | OB EDITOR
Portland startup Green Endeavor strikes gold, inking a partnership with Underwriters Laboratories, an Illinois-based consulting and certification company with offices in 46 countries.
|A Good Leap Forward|
|A Taste of Heaven|
|Fast Food Slows Down|
|Startup or Grow Up?|
|Tight and Loose|
|Scotland vote on independence begins|
|Artificial sweeteners may lead to diabetes|
|General Mills expects to save $100M|
|Sony predicts $2.14B loss|
|United Airlines offers $100K buyouts to flight attendants|
|Microsoft acquires popular game 'Minecraft'|
|Cognizant to buy TriZetto|
Is your business ready to join us in the call for action? This opening panel includes Oregon businesses who will discuss why they signed the Oregon Climate Declaration, the investments they are making to reduce carbon emissions, and how their actions are affecting their companies.
Get ready for two days of special events produced with the EPA, Portland Timbers and ISOS before and after the GoGreen Conference on October 16.
First Call Resolution targets employee well-being and client satisfaction.
How six leading foundations are working together for a better Oregon.
Vigilant enters a New Year with a new president.
Sussman Shank is proud to announce that eight attorneys have been selected by their peers for inclusion in the 2015 edition of Best Lawyers in America, the oldest and most respected peer-review publication in the legal profession.
Lane Powell Shareholder William T. Patton has been appointed to the board of directors for Cascade AIDS Project, an organization that provides educational services and outreach to thousands of Oregonians living with HIV/AIDS.