People management skills—beyond simply being able to communicate and collaborate with others—are essential for success in any workplace. Effective people manager skills involve the ability to understand and motivate individuals, build strong teams, and resolve conflicts. You can achieve this through clear communication, respect, persuasion, trust, openness, and more. Let’s take a closer look at…
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How to Liquidate Inventory & Unsold Merchandise
Are you one of the many retailers currently sitting on excess merchandise? Learn how to liquidate those products to clear up your cash flow and clear out your stock room.
If you are sitting on excess inventory that you need to get rid of, you are not alone. According to a study from McKinsey, in just the US, retailers have more than $740 billion worth of unsold goods. In the face of all this excessive inventory, the answer many retailers are looking to is liquidation….
What Is Employee Recognition? Small Business Guide
Employee recognition is the acknowledgment and appreciation of employees for their hard work, achievements, and contributions in the workplace. Methods of recognition can vary widely, ranging from simple gestures like verbal praise or handwritten thank-you notes to more formal programs like employee rewards or performance-based incentives. The aim is to demonstrate gratitude and reinforce positive…
6 Ways to Lower Credit Card Processing Fees
Credit card processing fees are a necessary cost of doing business, but it doesn’t have to take more of your business profit than it should. By analyzing one’s business model, customer preferences, and current credit card processing fees, merchants can adapt simple strategies to effectively lower costs without disrupting operations. Here are six things merchants…
11 Franchise Marketing Tips to Grow Your Business
Owning a franchise gives you a jump-start on branding and operations. However, that’s not to say there aren’t still things you need to do for your business to succeed. Franchise marketing is still something you’ll need to do, from building brand presence to growing your customer base and generating leads and sales. Here are 11…
Back-to-School Marketing Ideas & Trends for Retailers
Back-to-school season is one of the busiest seasons for retailers—it’s the second-biggest event on the retail calendar, after the winter holidays. The National Retail Federation (NRF) recently released its back-to-school retail trends report for 2023, and the trends show a shift toward savings-focused shopping behavior because of persistent inflation. Higher prices are the driving force…
20 Tips for Buying Your First Rental Property (+ Quiz)
Owning a rental property takes extensive research and decision-making to determine if it’s a viable investment for you. To prepare for getting your first rental property, start by writing a business plan, conducting a rental market analysis (RMA), and reviewing landlord-tenant laws. Additionally, you will need to learn how to fund your investment and use…
15 Effective Marketing Strategies for Startups
Startup marketing is challenging. You have to educate people on your products or services, compete with established players, and build brand awareness to give your startup a foothold in the market. Fortunately, you can use many startup marketing strategies to get your new company in front of your audience—from building your website and brand kit…