Opening A Dollar Store - Watch Out For Sales Changes!
If you are opening a dollar store be sure to allot time to examine sales data for your store. Of course formal monthly, quarterly and annual examinations should occur with your account as well. But don't wait for meetings with your accountant. If you are opening a dollar store examine the data yourself. Examine store sales on a daily, weekly and monthly basis.
The daily examination should be primarily focused on total store sales. If you are a very large store by-department sales results could also be examined. This examination is to note changes in sales against previous days and the same day in previous weeks. If your sales are up or down significantly look for causes for this change. Successfully opening a dollar store dictates that the time be invested to fully investigate significant changes in daily sales.
Weekly and monthly examination should include total store sales as well as by-department sales results. If changes are detected a lengthy set of questions should be answered to help understand the potential cause of the changes. Among the questions to ask yourself:
• Have there been significant changes?
• What are the reasons for those changes?
• If sales are down, what actions are required to recover sales?
• If sales are up, what are the causes for the increase?
• Have new departments risen to the top and former top selling departments dropping to the bottom?
• Is there a need to adjust inventory levels within specific departments to match those sales? This is all important data for management after opening a dollar store.
While data collection and analysis can be rather boring when compared to other tasks associated with opening a dollar store it is important. Analysis of daily, weekly and monthly sales data is something that must be done. Sales data can provide early warning when there are business changes (Both positive and negative changes!) occurring in your business. Be aware and address changes in your business quickly.
To Your Dollar Store Success!
Related Tags: opening a dollar store, sales changes!
Do you want to own your own Dollar Store? Visit http://www.openingadollarstore.com for more information. http://www.onlineauctionsmadesimple.net
Your Article Search Directory : Find in ArticlesRecent articles in this category:
- What is Your Excuse?
One of the most frequently used excuses for losing a sale is the price excuse. Someone else gave th - Selling & Marketing - The Secret to Developing a Thriving Business by Linking Strategy to Selling
"Never fear the want of business. A man who qualifies himself well for his calling, never fails of e - When To Hire A Salesperson
One of the questions I am asked is, when should I hire a salesperson and what should I look for? I h - The Second Step in Sales
This second step in sales is about the immortal on-liner: "the offer you can not refuse."There are t - Achieve The Goal Of Making A Profit - Ten Tips From The 2007 UK Apprentice
"The Apprentice" is a reality TV show which is like an extended job interview. Candidates for the jo - In Shallow Waters Dragons Are the Sport of Shrimp!
If you're a salesperson or a marketer, there is a fundamental question you need to answer that is pr - Opening a Dollar Store - A Merchandise Handling No-No
One of the biggest mistakes that many who are opening a dollar store make is in failing to realize t - Leadership Lesson in the Face of Virginia Tech Tragedy
When the gunfire ceased nearly 3 dozen promising lives had ended: A professor doing valuable researc - When the Seller is Ready, A Buyer Will Appear!
One of the cool things about having started my sales career in my teens is now being able to look ba - Excuses For Failure
A keynote speaker was asked to speak at a real estate convention in Pittsburgh, Pa. during the time
Most viewed articles in this category:
- Turn Cold Into Gold - How Your Sales Team Can Increase Sales By Effective Telephone Contact
Sales Managers are often faced with the dilemma of ensuring their sales team are managing highest qu - Do You Listen With An Open Mind
It's a big enough challenge for some managers and leaders to be willing to really listen to their ra - New Trade Globalization
Old globalization was marked by the quest of colonial powers such as France and the Netherlands for - Hire a Sales Rep - Not a Product Rep
A question I am often asked by my clients is should I hire someone who can sell but lacks industry e - There's Magic in Thinking Big
I grew up in a really great little town by the name of Dallas, GA, a rural community 32 miles northw - Thoughts for Incentive
Incentives are one of the greatest challenges most sales organizations face. While many start with - Sales Managers Need To Be Adept Jugglers And Trained Diplomats
As a manager you have a juggling act to perform, one which balances different points of view, and of - Are You An Effective Communicator
The movement of information in any organization is from top-down, bottom-up, or department to depart - Successful Managers
Over the years I have been asked by many of the attendees in my management seminars, "What are the c - Small Businesses Need Sales Scripts, Too!
Scripting has been employed in selling for at least 80 years that I'm aware of, and perhaps a lot lo