Opposite of Work Business Blog
What is Inventory Forecasting and Why Does it Matter?
Inventory Forecasting is the process of predicting how much inventory you need to buy based on the amount you believe you will sell in the future. Perhaps the most important element of running a successful eCommerce business is having inventory to sell; if you don't forecast the right amount to buy, you buy too little or too much.
Your Warehouse is Too Small.
Why You Should Plan for Your Warehouse Capacity.
Inventory and Your eCommerce Business. Do you have too much inventory?
Tips for determining how much inventory to keep and what to do if you have too much. eCommerce business owners often have a hard time parting with inventory. That sounds counterintuitive to running a thriving business. Let me clarify, some eCommerce business owners have a hard time parting with inventory that’s not moving. Whether it's a misguided strategy or an emotional attachment to having spent money on it in the first place, you may be holding onto your slow turning inventory too long.
Getting Back to Business Begins With You.
Play the inner game first before deciding what to do next with your small business. So here we are. Unprecedented. Your small business is facing a challenge you could never have imagined and this change happened in the blink of an eye. You don’t know what will happen in the future. Will your business have a place in the “new normal”? Can you even say? The new normal is constantly evolving. But, so can you.
Why Your KPIs Aren’t Working.
A lot of businesses focus on Key Performance Indicators, KPIs. The main areas that you and your team determine to be the most critical to the success of your business.
What a Low Tide Can Show You About Your Business. Now that you're exposed, look for areas of opportunity to redefine your operation for sustainable success.
John F. Kennedy once said “a rising tide lifts all boats.” He was referring to the idea that a strong economy will benefit all participants. This is especially true when it comes to small businesses.
Keep the Embers Burning. Set Up a Bare Minimum Business Model to Help You Survive the Current Financial and Social Crisis.
During unprecedented times, small business owners need to rethink how they approach their business and look at their operations in a new way.
Exploring the Concept of Firing Bullets Before Cannonballs in Your Small Business. An Approach to Risk Taking for Entrepreneurs.
In Jim Collins' classic book, Great by Choice, he describes the concept of firing bullets, then cannonballs. To paraphrase, you fire bullets first. Bullets are things that are low cost, low risk, and don’t distract you from your business.
Exit Signs: Is it time to exit your business? How do you know? Signs it could be time to sell, close, or transfer your business.
Entrepreneurs know how to get into business, but many aren’t sure how to get out of a business. Or more importantly, they aren’t sure when they should exit their business.