Retail Funnel & Path Metrics
Published:
1/2/2022
Improve the effectiveness of systems and move customers from an initial inquiry to a repeat purchase.
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Funnels and Paths
Published:
11/21/2021
Funnels create customer experience paths that boost retention, generate positive word of mouth marketing and turn more customers into repeat customers.
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Operations: Organize Your Service Experience
Published:
9/25/2021
Why is there a huge variation in the open service per million dollars in sales volume metric among furniture retailers? And, what can be done about it?
Read Operations: Organize Your Service Experience
Fourteen Ways to Find & Retain Employees
Published:
7/30/2021
Most retail businesses have systems in place to attract external customers.
Why should processes to attract and keep employees be much different?
Read Fourteen Ways to Find & Retain Employees
CXM Workflows Defined
Published:
5/9/2021
Retailers use CXM to automate sales and service processes. Automation triggers save time and produce meaningful results quicker.
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Customer Experience Management
Published:
3/20/2021
CXM is a tool that will help you to grow your furniture business and outperform competitors large and small.
Read Customer Experience Management
12 Ways to Avoid the Coming Cash Flow Trap
Published:
1/22/2021
Twelve cash flow enhancing ideas for managing your retail furniture store pipeline in these chaotic times.
Read 12 Ways to Avoid the Coming Cash Flow Trap
Customer Journey Lead Management
Published:
11/19/2020
Guide non-physical leads into a funnel of care that will deliver the highest level of service you are capable of providing.
Read Customer Journey Lead Management
How Retailers Can Do More With Less
Published:
9/23/2020
In the coming months, retailers will need to do more with less. Here are 16 strategies to help you cope.
Read How Retailers Can Do More With Less
New Front Doors: Customer Journey Management
Published:
8/4/2020
The new front door was not invented during the pandemic; however, it has become critically important for furniture retailers over the past few months.
Read New Front Doors: Customer Journey Management
Employee/Customer COVID Safety Checklist For Furniture Retailers
Published:
6/29/2020
Frequent Furniture World contributing author David McMahon provides readers with a short checklist for mitigating COVID risks right now in your stores.
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Employee/Customer COVID Safety Checklist For Furniture Retailers
Published:
6/29/2020
Frequent Furniture World contributing author David McMahon provides readers with a short checklist for mitigating COVID risks right now in your stores.
Read Employee/Customer COVID Safety Checklist For Furniture Retailers
New Front Doors to Home Furnishings Retail
Published:
6/6/2020
The source and the management of every door to your operation are critical elements for retail business success.
Read New Front Doors to Home Furnishings Retail
Industry-focused Performance and Accounting Firm to Assist Furniture Businesses to Prepare For Recovery After COVID-19
Published:
4/10/2020
David and Wayne McMahon’s firm PerformNOW Inc., introduces program to make it easier for clients to afford and use their services while businesses are experiencing unprecedented revenue declines.
Read Industry-focused Performance and Accounting Firm to Assist Furniture Businesses to Prepare For Recovery After COVID-19
The Power of Family Product Reporting
Published:
4/2/2020
Here's how one retailer adopted product family reporting to seize control of its inventory and increase GMROI.
Read The Power of Family Product Reporting
The COVID-19 Business Checklist
Published:
3/14/2020
Here's a quick checklist of things you can do to minimize the damage due to recessionary pressures on your business.
Read The COVID-19 Business Checklist
Coaching And Mentoring
Published:
1/4/2020
How one retailer used the GROW and Cascade of Change models to improve sales performance.
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The Turnover Challenge
Published:
12/7/2019
Tracking employee turnover will lead to greater sales and profit.
Read The Turnover Challenge
How to Grow
Your Business
Published:
9/29/2019
This sales
formula for growth will help you take actions that will directly impact the strength of your retail
business.
Read How to Grow
Your Business
Case Study: Marketing Effectiveness Metrics
Published:
7/15/2019
Retailer "A" has a bigger ad budget. Retailer "B" uses more digital media. Which one gets better returns?
Read Case Study: Marketing Effectiveness Metrics
The North Star of Retail: Average Sale
Published:
5/30/2019
How one retailer grew sales volume by creating a strategy and a company-wide laser-focus based on average sale improvement.
Read The North Star of Retail: Average Sale
What's Your Store Worth?
Published:
3/23/2019
Why a formal valuation process can help to maximize long-term value.
Read What's Your Store Worth?
How to Choose the Right Supplier
Published:
1/2/2019
30 Supplier Criteria that should be considered for potential suppliers.
Read How to Choose the Right Supplier
Planning For Uncertainty in 2019
Published:
11/26/2018
Downturns can be times of opportunity, and it's best to prepare for uncertain economic times.
Read Planning For Uncertainty in 2019
Warehouse Improvement Metrics
Published:
9/22/2018
Here are the metrics every home furnishings retailer needs to use to improve warehouse facilities and processes.
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Warehouse Improvement Checklist
Published:
7/4/2018
Scores of ideas to help furniture retailers improve facilities, processes and warehouse metrics.
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Increase Gross Margin Seven Ways - Part 2
Published:
5/23/2018
Field-proven ways to maximize your realized gross margin.
Read Increase Gross Margin Seven Ways - Part 2
Find Your Top Line Performance
Published:
3/23/2018
Does your total Gross Margin after deducting Cost of Goods Sold give you a full performance picture?
Read Find Your Top Line Performance
Case Study: Written & Delivered Sales
Published:
1/14/2018
Attention to written & delivered sales increased annual cash flow more than $100,000 for this average sized retailer.
Read Case Study: Written & Delivered Sales
Inventory and Sales Performance Metrics 2018
Published:
11/29/2017
If you are a furniture retailer who wants to continuously improve, but needs to know where to start, this article is for you!
Read Inventory and Sales Performance Metrics 2018
SWOT Analysis
Published:
9/23/2017
Knowing your strengths, weaknesses, opportunities and the threats facing your business allows you to focus.
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Seven "Magic" Traits Of Successful Sales Managers
Published:
7/7/2017
The seven traits of the most successful sales performance managers, plus tips on how to develop them.
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Expanding GMROI
Published:
6/1/2017
Here's how one retailer used Expanded GMROI, a team approach, to grow GMROI 16% from 2015-2016.
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Investing In Retail: Running the Numbers
Published:
3/29/2017
Which opportunities should you invest in to get the best return? How do you know if costs will be covered?
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Kaizen Blitz
Published:
12/28/2016
A short-term Kaizen Blitz event will increase furniture store efficiency and effectiveness in 2017.
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People Management Challenge 2017
Published:
11/29/2016
Traditional layers of management are focusing more on task-accomplishment rather than people-management.
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State of The Industry
Published:
9/30/2016
David and Wayne McMahon talk about furniture retailer profitability and ways they can do better.
Read State of The Industry
A Recipe For Maximum Gross Margin
Published:
7/7/2016
Ten major ingredients in a tasty recipe that you can use to maximize your store’s gross margin.
Read A Recipe For Maximum Gross Margin
Price Right!
Published:
6/2/2016
Earning the right to sell more at higher prices is the way the best retailers generate sustained profits and cash flow.
Read Price Right!
Lean Techniques Part 5: Case Study
Published:
3/25/2016
See how LEAN techniques took one retailer from losing money to more than 10% profit.
Read Lean Techniques Part 5: Case Study
Lean Techniques Part 4: Inventory
Published:
1/4/2016
Every furniture store needs a strategy for implementing LEAN and applying it to inventory. Here’s how.
Read Lean Techniques Part 4: Inventory
Lean Techniques Part 3: Marketing
Published:
11/27/2015
Every furniture store needs a strategy for implementing LEAN and applying it to the marketing. Here’s how.
Read Lean Techniques Part 3: Marketing
Lean Techniques Part 2: Lean Sales force
Published:
9/28/2015
Every furniture store needs a strategy for implementing LEAN and applying it to sales force management.
Read Lean Techniques Part 2: Lean Sales force
Stanley Furniture Announces Positive Second Quarter Results
Published:
7/31/2015
Operating income was $387,000, or 2.6% of net sales, compared to an operating loss of $1.5 million in the prior year second quarter.
Read Stanley Furniture Announces Positive Second Quarter Results
Lean Business Practices: An Introduction
Published:
7/17/2015
LEAN practices allow businesses to realize their potential. First of a multi-part series.
Read Lean Business Practices: An Introduction
Rebuying and New Buying: Two Different Mindsets
Published:
6/9/2015
Executing these activities properly and coordinating them improves sales and profitability.
Read Rebuying and New Buying: Two Different Mindsets
Improve Performance With Professional Financial Planning
Published:
3/24/2015
It’s a fact that the FP&A process increases the odds of retail success, producing better profits and cash flow than if you ignored FP&A. Here’s how it works.
Read Improve Performance With Professional Financial Planning
What To Do When The Competition Enters Your Market
Published:
12/27/2014
Retailers across the country are asking what they should do to prepare for well known chain stores and others that are entering their marketplaces. Here’s the answer to those questions.
Read What To Do When The Competition Enters Your Market
Reverse Supply Chain Logistics
Published:
9/29/2014
Reverse supply chain logistics is the practice of controlling resources that are returned, repairable, reusable or recyclable. It’s a catchy phrase for business activities that turn
normally wasteful occurrences into profit.
Read Reverse Supply Chain Logistics
Seven Performance Indicators You Should Track
Published:
7/9/2014
Here are seven indicators you can use to know your business better, plus how you can use this information to surpass your unfocused competitors.
Read Seven Performance Indicators You Should Track
Managing Change: The Transformative Power of Performance Group
Published:
5/22/2014
This article describes a number of powerful practices that act as a catalyst for retail growth. Each can help make your business operations more efficient, and maximize sales, profitability, and cash flow.
Read Managing Change: The Transformative Power of Performance Group
Improve Merchandise Performance Using GMROI
Published:
3/16/2014
Willingness to use GMROI as a tool is one factor that separates best performing stores from their peers.
Read Improve Merchandise Performance Using GMROI
Sales Volume Planning 2014
Published:
1/3/2014
By using the break-even sales equation your business can see in advance what volume
will be required to produce your desired profit. You will be able to create a meaningful strategy and plan better for the upcoming year.
Read Sales Volume Planning 2014
Strategic Planning 2014
Published:
12/10/2013
David McMahon outlines the advantages of putting in place a strategic growth plan for the new year. For your business, strategic growth planning is the GPS for your retail future. It helps your business stay on course.
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Should We Meet?
Published:
9/30/2013
Seven important meeting types that set the stage for retail success.
Read Should We Meet?
Dealing With Retail Bottlenecks
Published:
7/11/2013
The difference between operations that run smoothly and those that are chaotic is often the number and severity of operational bottlenecks.
Read Dealing With Retail Bottlenecks
Eight Secrets of Successful Retailers
Published:
4/1/2013
In this issue, David McMahon speaks about eight practices that separate successful home furnishings retailers from their struggling competitors.
Read Eight Secrets of Successful Retailers
Chain Of Operations 2013
Published:
1/10/2013
David McMahon presents a checklist for eliminating weak links to help you improve retail furniture store efficiency in 2013
Read Chain Of Operations 2013
Business Intelligence & Mobile Dashboards
Published:
12/3/2012
No matter which software system you are running, you have thousands of report queries available. How you sift through this data and make sense of it all is the purpose of business intelligence or “BI”.
Read Business Intelligence & Mobile Dashboards
Gross Margin Is In Your Head
Published:
9/25/2012
David McMahon presents proven strategies that can produce 50 to 60 percent gross margins even in highly competitive markets.
Read Gross Margin Is In Your Head
Think Profit! - Part 3: Cash Flow
Published:
6/6/2012
An in-depth look at how to analyze one of your three critical financial statements: your statement of cash flow.
Read Think Profit! - Part 3: Cash Flow
Think Profit! -Part 2: Your Balance Sheet
Published:
4/11/2012
An in-depth look at how to analyze one of your three critical financial statements: the Balance Sheet.
Read Think Profit! -Part 2: Your Balance Sheet
Think Profit!: In-Depth P&L Analysis
Published:
3/20/2012
An in-depth look at how to analyze one of your three critical financial statements: the Profit and Loss.
Read Think Profit!: In-Depth P&L Analysis
iPad and App Revolution Coming To Furniture
Published:
12/5/2011
99% of furniture retailers will have their own app within 5 years.
Read iPad and App Revolution Coming To Furniture
Flexible Budgeting For Furniture Retailers
Published:
10/4/2011
Flexible Budgeting lets you ‘Flex’ your top line and observe the resulting operational effects on your P&L and operating income.
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PROFITconsulting To Introduce CFO Outsourcing At Las Vegas Market
Published:
7/26/2011
Program fills a void for furniture retailers that can benefit from better planning, budgeting, and forecasting, but don't have a full-time CFO.
Read PROFITconsulting To Introduce CFO Outsourcing At Las Vegas Market
Create A Performance Scorecard For Your Business
Published:
7/12/2011
A performance scorecard is used to measure your progress with respect to achieving goals. Those business people that do it properly have a significantly better chance of succeeding in their marketplace.
Read Create A Performance Scorecard For Your Business
Retail Break Even Analysis
Published:
3/15/2011
This article will demonstrate how to calculate your break-even point of sales. It also provides real world examples of ways smart retailers can reduce their break-even points and level of risk.
Read Retail Break Even Analysis
Five Smart Steps To e-Tail Inventory Management
Published:
1/5/2011
Today, consumers initiate their shopping experience. If they find you through Google, you have a chance to get their business. Here’s how to manage your e-tail inventory to make the most of an initial website contact. Included is a 12-step process that will help to make their buying decision easier.
Read Five Smart Steps To e-Tail Inventory Management
Get Furniture Store Employees to Do What YOU Want
Published:
12/10/2010
Using rewards as enticements and threats of punishment are approaches aimed at obtaining obedience and compliance, but they can overpower, rather than empower.
Read Get Furniture Store Employees to Do What YOU Want
Pay For Performance!
Published:
11/24/2010
A prime reason why top performing companies out perform their average performing peers is because they pay people extra when they perform better. Here is how to go about taking this path to success.
Read Pay For Performance!
Let’s Simplify Your Furniture Inventory - Part 2
Published:
9/22/2010
This article is about selling more inventory and improving inventory buying. David McMahon presents a coordinated approach to age your inventory, mark it down and provide sales compensation incentives to improve profitability.
Read Let’s Simplify Your Furniture Inventory - Part 2
Business Owners to Receive Complimentary Business Analysis In Las Vegas
Published:
7/21/2010
The business analysis will help furniture retailers visiting the Las Vegas show identify areas of opportunity in their business to increase profitability and cash flow.
Read Business Owners to Receive Complimentary Business Analysis In Las Vegas
Let's Simplify Your Inventory
Published:
7/9/2010
David McMahon shows you the core practices that the most profitable businesses follow to achieve the highest return on their inventory investment.
Read Let's Simplify Your Inventory
Eight Techniques to Boost Profit in Tough Times
Published:
11/19/2009
Some retailers seem to always manage to perform well. In this article David McMahon takes a close look at what those successful retailers do to cut costs during lean times and achieve maximum returns. Specific steps to cut fixed costs and make retail operations more responsive to cost cutting measures are examined.
Read Eight Techniques to Boost Profit in Tough Times
Measure Gross Margin Return On Inventory
Published:
10/4/2009
Track this inventory metric to understand your customer’s buying patterns, establish a more relevant product mix, satisfy more people and sell more.
Read Measure Gross Margin Return On Inventory
PROFITsystems, MicroD and The Lively Merchant Partnership Provides Unique e-Commerce Offering
Published:
8/25/2009
e-Showroom enables retailers using PROFITprofessional software to integrate and cross reference their inventory with vendor catalogs and display them directly on their new e-Commerce enabled website.
Read PROFITsystems, MicroD and The Lively Merchant Partnership Provides Unique e-Commerce Offering
Industry-Wide Web Summit 3.0 to Open Vegas Market
Published:
8/21/2009
Summit sponsored by The Lively Merchant, NHFA and World Market Center.
Read Industry-Wide Web Summit 3.0 to Open Vegas Market
7 Common Characteristics of Profitable Furniture Businesses
Published:
8/19/2009
What are the characteristics that separate the best operations from the worst?
Read 7 Common Characteristics of Profitable Furniture Businesses
Harness The Power Of e-Marketing - Part 2
Published:
4/6/2009
Old media techniques broadcast a campaign that is the same for everyone. Here’s how to target specific groups with messages they want to see, when they want to see them.
Read Harness The Power Of e-Marketing - Part 2
Boost Cash Flow & Generate Sales Now
Published:
4/6/2009
This article tells the story of a furniture store owner in St. Augustine who used fresh tactics to beat last year’s numbers in November, December, and January. How he did it is instructive and worth your attention.
Read Boost Cash Flow & Generate Sales Now
You Can Harness The Power of e-Marketing
Published:
1/14/2009
New media is uncharted territory for many furniture retailers, but with a bit of knowledge you can be one of the first in our industry to do it right.
Read You Can Harness The Power of e-Marketing
Modern Ways To Increase GMROI - Part 2
Published:
9/11/2008
Part 2: Old school ways to increase this critical measure are just not enough anymore!
Read Modern Ways To Increase GMROI - Part 2
Modern Ways To Maximize Your GMROI - Part 1
Published:
7/14/2008
This article will highlight some modern ways to increase your GMROI by using technology to pull in extra customers and move merchandise while minimizing costs.
Read Modern Ways To Maximize Your GMROI - Part 1
Add 250,000 Gross Margin $$ Without Raising Prices!
Published:
3/8/2008
Clearance sales may have their time and place, however, there are many other more productive ways to increase GMROI. You can do this without increasing prices or holding inventory clearance sales.
Read Add 250,000 Gross Margin $$ Without Raising Prices!
Markdown Strategies That Work!
Published:
11/9/2007
Part 4 of the Dynamic Inventory Management Series presents the Five Golden Markdown Steps. This efficient markdown system has a considerable impact on profitability and cash flow because it greatly increases turns, improves gross margin, sales and cash flow.
Read Markdown Strategies That Work!
Why 20% Inventory Is Too Much!
Published:
9/14/2007
You can escape the excess inventory trap before you become too entangled, or avoid it altogether if you understand the reasons why so many otherwise good companies get caught.
Read Why 20% Inventory Is Too Much!
Dynamic Inventory Management - Part 3
Published:
7/27/2007
Buyers, who aren’t involved in the inventory management process, produce lower GMROI. It is, therefore, critical that they become expert inventory managers and that their duties don’t end with the filing of a purchase order.
Read Dynamic Inventory Management - Part 3
Are You Inventory Rich and Cash Poor?
Published:
5/11/2007
Poor buying practices, supplier performance issues and insufficient attention to lean inventory practices are among the major causes of having too much inventory and too little cash.
Read Are You Inventory Rich and Cash Poor?
Dynamic Inventory Management - Part 2
Published:
2/27/2007
This series looks at tools and techniques you can use to measure and improve the health of your inventory over time.
Read Dynamic Inventory Management - Part 2
Dynamic Inventory Management - Part 1
Published:
12/5/2006
A two-part series that looks at tools and techniques you can use to measure and improve the health of your inventory over time.
Read Dynamic Inventory Management - Part 1