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Episode Summary:
Previously, we discussed five prompts for year planning in Part 1 of my “Plan Your Best Retail Year Ever” series – Episode 40 of The Creative Shop Talk Podcast last week. These helped us to look back before we can move forward. In part 2, we talked about three prompts that help retail business owners plan for 2021. These three prompts are related to our numbers and finances. Every retail business must know and understand real numbers to make better business decisions.
In this week’s episode, Part 3 of my “Plan Your Best Retail Year Ever Series”, we are going to talk about what do we need to do to get where we want to go. How do we get customers? I discuss different ways you can make money and how to put a simple marketing plan in place. Budgeting doesn’t have to be difficult if you have all the information you need. I share tips on how you can budget quarter by quarter.
I know we talk a lot about managing money and planning for 2021 in these episodes of my “Plan Your Best Retail Year Ever” series, and you might have a lot of questions and doubts. I want to help your business grow.
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Plan your best retail year ever by following one of our most popular series:
Part 1 – Why looking back is key and what to look for
Part 2 – Look forward to plan – revenue and finances
Part 3 – What do we need to do to get where we want to go
Part 4 – How to put all the pieces together and reach your goals
This week on the Creative Shop Talk Podcast:
- What do we need as business owners
- Reverse engineering
- Brain dump all of the different revenue streams
- Different ways of making money
- Adding eCommerce to your current website to generate more revenue
- The cost of goods
- Breaking it down
- How to budget
- Giving goals to ourselves
- How to get things done
The Big Takeaway:
If we can look back to do the math and do reverse engineering, we will be closer to our goal of knowing where we want to go.
Our Favorite Quotes:
- “We just have to get out of our comfort zone a little bit.” – Wendy Batten
- “I love dreaming big.” – Wendy Batten
- “it’s simple when you start doing it.” – Wendy Batten
- “If you have easy numbers, you need to think bigger.” – Wendy Batten
About your host, Wendy Batten
In case we haven’t met yet, I’m Wendy, a small business coach and founder of the Retailer’s Inner Circle, where I help other independent shop owners learn how to gain the right business skillsets to see more profits, paychecks, and joy as they navigate running their retail business.
Through online classes, business coaching programs, speaking, and a top-ranked podcast, I’ve helped hundreds of retailers around the globe reclaim their dreams and see the success they want from their beautiful shops. My signature private coaching community, The Retailer’s Inner Circle, has helped retailers around the world build their retail business skill sets and confidence.
I am proud to have been featured in several major publications, including my own business column in What Women Create magazine. I have been privileged to be a guest on top-ranked podcasts and sought-after as a guest speaker and teacher for several brands, associations, and communities that are passionate about the success of independent retailers.
When I’m not coaching, you will find me either DIYing and renovating my very imperfect old crooked cottage by the sea in the UNESCO World Heritage town of Lunenburg, NS, or blogging about our travel and RVing adventures and the weird fun things we get up to in our coastal village. I’d love to invite you to check out one of my free resources for real retailers at https://wendybatten.com/free-resources/
For more support from Wendy
Retailer’s Inner Circle – Join Wendy inside the best retailer’s community
Free resources for shop owners
Hang out and connect with Wendy on IG
All of Wendy’s programs and services for shop owners can be found HERE.
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