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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.
Tuesday, July 08, 2014
BY LINDA BAKER | OB EDITOR
The New Yorker recently published a sharply worded critique of “disruptive innovation,” one of the most widely cited theories in the business world today. The article raises questions about the descriptive value of disruption and innovation — whether the terms are mere buzzwords or actually explain today's extraordinarily complex and fast changing business environment.
Update: We caught up with Portland's Thomas Thurston, who shared his data driven take on the disruption controversy.
Thursday, June 19, 2014
BY MONICA ENAND | GUEST CONTRIBUTOR
Nine tips for building habits among employees to respond when needed.
Thursday, July 03, 2014
BY TED AUSTIN & MIKE BAELE | GUEST CONTRIBUTORS
The Office of Economic Analysis announced that Oregon is currently enjoying the strongest job growth since 2006. While this resurgence has been welcome, the lingering effects of the 2008 “Great Recession” continues to affect Oregon businesses, especially with regard to estate planning and business succession.
Wednesday, July 02, 2014
BY JESSICA RIDGWAY | OB WEB EDITOR
Dress for Success Oregon promotes the economic independence of disadvantaged women by providing professional attire, a network of support and career development tools.
Tuesday, June 03, 2014
Citing the transition to catch shares management as a key to rebuilding stocks and reducing bycatch, 13 species caught by the West Coast trawl fishery today earned designation from the Marine Stewardship Council (MSC) as sustainable.
Friday, May 30, 2014
BY DEBRA RINGOLD | OB GUEST CONTRIBUTOR
Since 1970 the performance of our public education system has steadily deteriorated.
Thursday, June 26, 2014
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|Zillow to acquire Trulia for $3.5B|
|Dollar Tree to buy Family Dollar|
|Facebook revenue surges 61%|
|Walmart unexpectedly fires CEO|
|GM profit declines 80%|
|Study: Dogs can feel jealousy|
|Boeing profit surges 52%|
Vigilant enters a New Year with a new president.
How George Fox has become one of Oregon's largest private universities.
Forest Grove sees growth in the burgeoning food and beverage scene.
Lane Powell Shareholder Susan K. Eggum has been elected as vice chair of programs and projects for the International Association of Defense Counsel’s (IADC’s) Employment Law Committee.
Geffen Mesher is saddened to announce the passing of long-time shareholder, Tom “Mike” Anderson, who died on July 10, 2014, from liver disease diagnosed after recent heart surgery. He was 55 years old.
Fifteen Lane Powell attorneys have been named 2014 “Oregon Super Lawyers,” and another five attorneys have been named as “Oregon Rising Stars” by Super Lawyers magazine.