| Setting goals for your business can keep you | | | | costs to just to keep your doors open every day. |
| motivated and organized. For a small retailer, a sales | | | | Remember, this number doesn't include your inventory |
| goal keeps you focused on moving your business | | | | purchases. |
| from mere survival to success. | | | | Use this number as a base point--a jumping off place |
| Often independent retailers operate day-to-day | | | | to create your sales goals. Begin realistically, taking into |
| without knowing what they NEED to sell each day to | | | | consideration your sales history and the shifts that |
| survive, let alone make a profit. In order to make a | | | | occur by day and by season. Consult your Point of |
| reasonable plan for both budgets and goals, the first | | | | Sales software or daily sales log to see what you've |
| step is to chart what you spend each month to keep | | | | been selling in recent weeks. Once you see your sales |
| your doors open. | | | | results on paper each day in front of you, it will |
| If you are a "pen and paper" person, a monthly | | | | become easier to set goals going forward. |
| calendar is a great place to record necessary | | | | Part of a sales goal is necessity--the number you |
| numbers you can consult each day. You can list your | | | | have to reach in order to survive,--but as you reach |
| monthly expenses on the "notes" area of each month, | | | | those goals, the motivation to exceed that number |
| and record daily goals and actual sales on each day. | | | | increases and soon you'll be striving to hit the numbers |
| When you are listing your monthly expenses each | | | | that bring you into profit. |
| month, include things like: | | | | Give yourself a month of charting, then create an |
| Rent | | | | average daily sale for the month and compare it to |
| Utilities | | | | your average daily expenses. How did you do? If your |
| Marketing and advertising | | | | expenses are coming in really high, find ways to cut |
| Office Supplies | | | | back on office supplies or utilities. If your sales are |
| Insurance | | | | coming in much lower than you want, consider planning |
| Merchant association fees | | | | a special event in the next month to generate traffic |
| Payroll if applicable | | | | and build those numbers. |
| In order to make sure you've remembered everything, | | | | You'll find that once you have those numbers in front |
| go through your check register for the last couple of | | | | of you all the time, it is much easier to feel in control of |
| months and categorize everything you spend money | | | | the changes that need to take place to keep you on |
| on for your business. Enter all recurring charges on | | | | track. Organization takes time, but it really pays off. |
| your expenses list. | | | | Using these techniques to organize your sales and |
| Once you have a number that represents your | | | | expenses can help you stay motivated and informed - |
| monthly expenses, divide that number by the days you | | | | and it doesn't take a computer full of spreadsheets to |
| are open each month. This will tell you how much it | | | | make it happen! |