Get 100% of The ROI! Unlimited Access SUBSCRIBE Now!
Have you caught World Cup fever? It's certainly on the rise near us, and reminded us of this explanation of the midfielder's position on a soccer team:
"The midfielder is the position where you are always trying to regain position."
Sounds a lot like owning a retail business, doesn't it? Especially in today's business environment. Consider this*:
The National Federation of Independent Business reported in May its lowest measure of economic expectations since Mr. Trump was elected to his second term.
The Bank of America Institute reported that small-business profitability in April grew at its slowest pace in two years.
Businesses with fewer than 10 workers have broadly been shedding employees for much of the past five years, according to data from QuickBooks, the accounting software company.
Even as large corporations are posting solid earnings and the stock market is booming, small-business sentiment has plummeted in recent months. Some owners – maybe you? – report they have had to use their personal savings to pay workers because the company’s cash flow was so tight.
Pretty grim, isn't it?
That's why owners must be like soccer midfielders, always needing to adjust and regain position.
Here's a quick overview of how to do that.
Pay attention to what your customers are showing you. Use those POS reports! Then, adjust and update your assumptions about sales going forward (likely revising down.) Similarly, reconsider and revise gross margin expectations. (Note customer behavior again.)
Next, focus on the most likely hiding place of cash: your inventory. Commit to raising turns. Take sharper markdowns, sooner. Make room for fresher merchandise. Enforce the buying budget, with particular emphasis on the targeted ending inventory each month.
Ask your front line staff for ideas on cost savings. These tweaks won't have the same impact on cash flow as inventory improvements, but they can make it easier for your people to be successful at their jobs. And improve morale during uncertain times.
Like soccer, retailing is in constant motion, demanding stamina and strategy.
It also rewards a readiness to seize opportunities. So be ready! Goooooal!!
-----
*"The U.S. Economy Is Leaving These Companies Behind," Sydney Ember, The New York Times, June 17, 2026.
The just-released "2021's Main Street Business Survivor Study" from the Pandenomics series conducted by the PYMNTS.com folks* focuses on the "Main Street Survivors:" those small to medium sized businesses "that have weathered the pandemic's fallout."
Vital lessons. What have these "survivors" done differently than the rest of SMB businesses? Here are the major findings of their study. We think that you'll see many of the survival steps you have taken, or be prompted to adopt some others.
That message is emblazoned – in sunshine colors - in the windows of Nordstrom's flagship store in downtown Seattle. And yes, on a drizzly January day in Seattle, it was a welcome sight this morning. A nice pep talk for us all. And a fitting message to follow our reflections on the year we just experienced. Since March 2 of 2020, our From The Co-Founders commentary has been focused on the pandemics. Revisiting those was quite the "year in review" experience.*
Find out how revolutionizing it can be to have freedom from old merchandise!
This year, the stars align. The 4th of July is on a Thursday!
We see it as a gift for retailers from the calendar gods. Four days, Thursday through Sunday. What a great opportunity for a true blow-out sale event!
There's a lot of optimism in the air these days. Covid-19 lockdown restrictions are being eased. More people are becoming vaccinated. Upbeat economic news is reported. Unemployment figures are improving. Restaurants are preparing for diners to return. And of course, given that we are now starting to compare sales results to the meltdowns of 2020, dramatic percentage growth is being reported and forecast for the balance of the year. These positive and optimistic news reports all are very welcome. Retailers are eager to see customers return. But what should retailers expect? To brace yourself for the myriad changes.
As we look out at the second half of 2023, we're actually quite optimistic for independent retailers worldwide. No, really! The statistics haven't yet borne out what we are "seeing," but just wait a bit. To begin our justification, let's look at the really Big Picture. Generally, the Covid pandemic has been wrestled down. Likewise, inflationary prices seem to no longer be a threat. The worrisome political scene has resumed its traditional state of boredom, and the major concern now is something we can't do much about: each day's weather. So, looking at the Big Picture, we see the general population for the second half of the year to be quite serene, even optimistic. And that bodes very well for shoppers' confidence!
Your results are likely to be consistent with these patterns.
Incredible value! 👀
Start NOW!