Ten Tactics To Reinvent Your Retail Business

<p>Retail is at the forefront of the economic devastation left in COVID-19’s wake. While major players like Walmart and Costco dusted off their shoulders with little grief, small businesses continue to bear the brunt behind the locked doors of their stores. </p><p>Despite facing seemingly insurmountable odds, Founders’ possess two unique advantages against Goliath retailers: agility and connection. </p><p>Now’s the time to implement your strategy, with precision and unrelenting determination. With guidance from NTN Pro, Bruce Winder, President of Bruce Winder Retail and author of Retail before, during, and after COVID-19, you’ll find your way through the pandemic and on to ace the retail game.</p><p>PART 1 // THE STATE OF RETAIL AS WE KNOW IT<br>The #CLAWs of retail (Costco, Loblaws, Amazon and Walmart), are seemingly ruling the retail roost as the pandemic marginalizes the businesses of main street. <br>With consumer preferences toward what they buy and where they buy from changing at full throttle, Founders need to get a move on setting up their online operations. Meet your customers where they’re at!  <br>Bruce tells us that when the smoke clears, the big players will likely become bigger, but so will other online retailers. Innovative and capital-light businesses will drive retail into the future. </p><p><br>PART 2 // HOW TO FORGE A FUTURE IN RETAIL <br>When retail Founders go in survival mode, the 80/20 rule provides potent weaponry for bulking up your cash flow.<br>The 80/20 rule (aka the Pareto principle): 80% of your revenue comes from 20% of your inventory.<br>Speaking of 80/20, we know Taunya loves talking numbers! Listen in as she walks with Bruce all the way from the top- right down to the bottom-line, giving Founders a rundown on how they can tweak those numbers in their favor.<br>Part 2 is a power-packed deal with Taunya venturing the possibility of retail spaces converting into showrooms, and Bruce suggesting inviting equity partners to weather through the storm. </p><p>DOWNLOAD YOUR FREE