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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, October 02, 2014
More than 5,500 employees from 180 organizations throughout the state participated in the 100 Best Nonprofits to Work for in Oregon project.
Thursday, September 25, 2014
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To prevent burnout, companies are banning email and after-hours communications. But is the 24-hour workday here to stay?
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Monday, October 06, 2014
BY LINDA BAKER | OB EDITOR
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Friday, October 17, 2014
BY TOM COX | OB BLOGGER
How can you move from a command-and-control leadership model to one of true empowerment and accountability? David Marquet did, and he took notes along the way.
Friday, October 24, 2014
A majority of respondents agreed: Local vineyards should remain Oregon-owned and quality is the most important factor when determining where to eat or buy groceries.
Wednesday, August 27, 2014
BY JESSICA RIDGWAY
How State Representative Julie Parrish (House District 37) balances life between work and play.
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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.
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More than 400 "Change Makers" will gather to invest in a socially sustainable community.