Does your business have a succession plan? At some point, every organization has a transition in leadership. But, when it's a family-owned business being passed down from generation to generation, there are difficult decisions that should be made years before the current owner retires or exits the business.

Getting the New Year off to a great start has a lot to do with maintaining a positive attitude and the willingness to carve out time to assess the current state of your business. While it’s common for people to make resolutions about the things they intend to change, only some take the steps required to achieve tangible results

Every small business owner should be able to identify one or two things their company does better than competitors. This strength is your team’s “superpower.” It’s the thing that fuels your organization’s desire to compete at the highest level and provides the clarity you need to create new opportunities. While most hardware stores sell similar products, their approach to business can be completely different. Playing to your strengths can make customers feel good about shopping in your business instead of a big box store. It can also motivate them to identify with other customers in the store’s community of patrons. Perhaps the power of your business excels in several of these areas.

Retailers often make assumptions about consumer behavior that may not necessarily be true. When it comes to technology, a popular belief concerning baby boomers is this generation is reluctant to learn new concepts and typically prefers to shop in-store. Additionally, with the intense focus on Millennials, the buying power of Gen X shoppers is also frequently overlooked

High-interest rates create a ripple effect that causes turbulence in the housing market and those industries that depend on homeowners to purchase goods. Contractors are building fewer homes, and potential buyers must contend with skyrocketing costs and a shortage of available housing.

So, how are your employees adjusting to the new normal? The reality is life will never be the same as it was ten years ago, two years ago or even yesterday. While change typically happens at a slower pace than it has during the past three years—it is a constant occurrence that requires us to adjust our behavior and think differently

One of the best ways to bring in holiday shoppers and get them in a festive mood to buy is to design attractive indoor and outdoor displays. The biggest buying season of the year officially kicks off in a few weeks. However, shoppers are already buying since they know many of the items on their gift list are in limited supply.

These types of promotions are an ideal way to bring in new customers and strengthen your relationship with existing customers. Events enhance the in-store shopping experience and can create buzz in the community about your establishment. When done correctly they can lift both short-term and long-term sales.