Tag: Creative Retailer

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Proactive HR

HR mistakes: hasty hiring

Small business owners juggle many tasks. Drop the ball and it can turn into a disaster—especially when dealing with HR. Over the next three weeks, we’ll break down the six most common human resource mistakes and how to avoid them. (Pro tip: most are preventable!)

Hiring

Hiring the wrong person is expensive and affects employee morale. If you’ve ever hired the wrong person, you’re not alone. According to a CareerBuilder survey, 75 percent of employers said they’ve made the same mistake.

Avoid turnover by sticking to a clear, consistent process. This means posting an accurate job description (including qualifications, job duties, etc) and involving the team in the hiring process. It’s important you hire a qualified candidate who fits your company culture.

HR Misclassifications

The IRS is strict with how businesses classify employees, and the mistake can cost thousands in penalties.

To determine an employee’s classification, look at their job duties. Below are some bullet points that can be a good place to start. Visit dol.gov/whd for further assistance.

  • Independent Contractors
    • No tax withholding
    • Typically also work for other entities
    • Provide their own equipment
    • Set their own hours
    • Not directed on a daily basis by the company
    • Numerous other factors
  • Overtime-Exempt Employees:
    • Tax withholding
    • Must meet specific overtime exemption requirements
    • Salary wage
    • No overtime pay required
    • Pay can be reduced only under certain circumstances
  • Nonexempt Employees
    • Tax withholding
    • Hourly wage
    • Overtime pay
    • Paid for actual time worked
    • Hours must be accurately tracked

Inspiration for this post comes from “HR Keys to Business Success” by Melisa Morrison published in the December 2022 issue of Creative Retailer. Morrison has over 30 years of experience in Human Resources and is a former quilt shop owner. Stay tuned next week for more on employee training and the company handbook.

If you’re looking for more information to guide you in owning a retail business, subscribe to Creative Retailer today. Already a subscriber? No worries—join our Facebook group for insights and dialogue from industry specialists like you. And don’t forget, you can always purchase single issues if you prefer that instead.

If you still can’t get enough, register for the Creative Retailer LIVE Spring 2023 event May 2-4 in Pawhuska, Oklahoma for opportunities to learn from peers as well as network with industry professionals.

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Small Business Collaboration

collaboration

When you own a small business, supporting other small businesses becomes your M.O. Read on for an example of how one quilt shop put on an event with other small business.

Event Collaboration

Last December, owners Ann Van Thomme and Jenny Gruenwald of Off the Rails Quilting in Bondurant, Iowa organized a holiday sip and shop at a local brewery, Reclaimed Rails Brewing Co. The collaboration didn’t end there as Home Slice Hand Made Pies also offered miniature pies for sale.

They’re not new to collaborating with other small businesses however, promoting events with Red Dragon Herbs and Tea, carrying Molly & You gourmet baking mixes, and selling T-shirts and novelty items in the shop sourced from local suppliers.

Ann and Jenny offer some of their best collaboation tips:

  • Make it easy for businesses to work with you
  • Cross-promote different business types to expand everyone’s customer base
  • Think outside the box on ways to collaborate
  • Happy customers spend more money, and collaboration is just one way to increase everyone’s turn out

Inspiration for this post comes from “Neighborhood Swatch” by Managing Editor Millie Kehrli published in the February 2023 issue of Creative Retailer.

Free Workshop March 28

Tune in Tuesday, March 28th from 3 – 4 p.m. CST via Zoom for a workshop on The Value of Video: Education, Community, Profit.

The event hosted by Lyric Montgomery Kinard, cofounder of The Global Quilt Connection and founder of The Academy for Virtual Teaching, will answer a variety of questions including:

  • What is virtual education?
  • Where does your customer find it?
  • How does it bring customers to you?
  • How can it increase your sales?
  • How does it create a community loyal to your brand?
  • What equipment do you really need?

The event is free for all Creative Retailer subscribers. Keep an eye in your inbox for a link to the event, or email info@creativeretailer.com to be added to the list.

If you’re looking for more information to guide you in owning a retail business, subscribe to Creative Retailer today. Already a subscriber? No worries—join our Facebook group for insights and dialogue from industry specialists like you. And don’t forget, you can always purchase single issues if you prefer that instead.

If you still can’t get enough, register for the Creative Retailer LIVE Spring 2023 event May 2-4 in Pawhuska, Oklahoma for opportunities to learn from peers as well as network with industry professionals.

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Sales Opportunity or Trap?

sales opportunity or trap?

Not every investment is a wise one, but that’s hard to remember when you’re fighting for a positive cash flow. Try the below exercise to find out if your next big idea is a sales opportunity or trap.

Step 1

Write the following at the top of a piece of paper:

  • Your vision for your business
  • Your 10-year business goal
  • Who you serve
  • What you sell

Step 2

Next, ask yourself the following questions. I find it helpful to write these on the left side of the same piece of paper:

  • How will my idea impact the business in the next 10 minutes?
  • How will my idea impact the business in the next 10 months?
  • How will this impact the business in the next 10 years?
  • Does it help me reach my vision in 10 minutes, 10 months, or 10 years?
  • Does this opportunity allow me to serve my customers in the next 10 minutes, 10 months, or 10 years?
  • Does it align with or complement what I sell?

Step 3

Now, think of your idea and run through each of these questions. If for each idea you can honestly answer yes, then it’s an opportunity. But if you have any doubt, forget about the idea—it’s a trap. If you run out of ideas, then it’s back to the drawing board. For more ideas, ask customers, employees, and even other stores for their thoughts.

On the other hand, if there are multiple ideas that work, then start with the one that will have the biggest impact in the next 10 minutes.

Inspiration for this post comes from “Opportunity or Trap” by Jacob Curtis, CPA, published in the February 2023 issue of Creative Retailer.

If you’re looking for more information to guide you in owning a retail business, subscribe to Creative Retailer today. Already a subscriber? No worries—join our Facebook group for insights and dialogue from industry specialists like you. And don’t forget, you can always purchase single issues if you prefer that instead.

If you still can’t get enough, register for the Creative Retailer LIVE Spring 2023 event May 2-4 in Pawhuska, Oklahoma for opportunities to learn from peers and network with industry professionals.

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Strategize Your Sales

sale

Putting items on sale should be your last resort. Read on to strategize when to discount your inventory.

Incentivize

Make clearing inventory a win-win for you and the customer. When you get to the end of a bolt and have a small piece of fabric leftover, encourage your customers to purchase the remainder of the bolt by offering a 10% discount.

The best part is you can apply this to all of your inventory. For example, you can offer the same discount to a customer who purchases the last two skeins of yarn available.

Once-a-Year Sale

People will come for the sale but likely purchase your full-price inventory at the same time. The best items to put in the sale are items you plan to clear out anyway. Some examples include outdated merchandise or products with limited inventory. Simplify the process by collecting these items throughout the year and storing them in a specific area in your stockroom.

Donate

Some items will be too damaged to sell at a discount, but you can still get a tax write-off. Many volunteer groups don’t mind smudged fabric or sun-exposed yarn. (Think volunteer groups that make blankets for animal shelters.)

All in all, too much in the sale bin indicates you’re buying the wrong inventory. With careful buying and intentional selling, you can get rid of your inventory in a productive way.

Inspiration for this post comes from “Guide to Clearing Out Inventory” by Gwen Bortner published in the February 2023 issue of Creative Retailer.

If you’re looking for more information to guide you in owning a retail business, subscribe to Creative Retailer today. Already a subscriber? No worries—join our Facebook group for insights and dialogue from industry specialists like you. And don’t forget, you can always purchase single issues if you prefer that instead.

If you still can’t get enough, register for the Creative Retailer LIVE Spring 2023 event May 2-4 in Pawhuska, Oklahoma for opportunities to learn from peers and network with industry professionals.

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Part Two: Creating a Social Media Strategy

social media strategy

Social media strategy consists of three elements: content, management, and giving. Last week we covered part one, content. This week we’ll tackle the next two elements, management and giving.

Social Media Management

Once your content is live it’s important to check your metrics. But first, you’ll want to set some goals. We recommend three-month, six-month, and annual goals. These can vary including increasing your newsletter subscriptions, to having more sales on particular items, or expanding your audience. Create a spreadsheet to track how past posts are performing.

Content Strategy and Giving

The next step is to keep the conversation going. That’s what we call giving. This means interacting with your posts (responding to comments, following other businesses, and commenting on other people’s content).

If any of these pieces seem too much for one person, remember you can pull in help from your team. You can also save time by grouping all of these into different chunks. One chunk to batch edit photos, another to interact with content, and so on.

Inspiration for this post comes from “Develop a Social Media Strategy” by Anneliese Johnson, account manager for Stitchcraft Marketing, and published in the December 2022 issue of Creative Retailer.

If you’re looking for more information to guide you in owning a retail business, subscribe to Creative Retailer today. Already a subscriber? No worries—join our Facebook group for insights and dialogue from industry specialists like you. And don’t forget, you can always purchase single issues if you prefer that instead.

If you still can’t get enough, register for the Creative Retailer LIVE Spring 2023 event May 2-4 in Pawhuska, Oklahoma for opportunities to learn from peers and network with industry professionals.

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Creating a Social Media Strategy

social media strategy

Since 2020, quilters are spending 30% more of their time online. Follow these tips to tackle the seemingly daunting task of social media.

Social Media Strategy

Social media consists of three elements: content, management, and giving. Over the next three weeks, we’ll tackle each one; starting with content.

First, you need to plan your content instead of posting on the fly. At the beginning of every month, brainstorm ideas. To get ideas, start with checking last month’s schedule. Then think of what you’ve seen other businesses post.

Did you know you can schedule your social media posts? Once you have the ideas, take the photos (in one session, preferably at the beginning of each week), write the content, and upload into a social media scheduler. Many schedulers show the time your customers are most active so you can plan your posts around the same time.

If this still seems like a lot, check out the free Time Management Outline available at Creative Retailer to help get you started.

Inspiration for this post comes from “Develop a Social Media Strategy” by Anneliese Johnson, account manager for Stitchcraft Marketing, and published in the December 2022 issue of Creative Retailer.

Creative Retailer Roundtable

Join Publisher and shop owner Heidi Kaisand this Thursday, January 26th at 3:30 p.m. CST for a personal, hands-on roundtable.

Each month, retailers will celebrate wins and tackle topics through a presentation and discussion. Each session will conclude with any challenges you’ve experienced to be discussed with the group.

Register here or email info@creativeretailer.com to be added to the group. You can also email info@creativereatiler.com to register for all 12 sessions and pay as you go.

If you’re unsure if this is for you, schedule a consultation with Heidi.

If you’re looking for more information to guide you in owning a retail business, subscribe to Creative Retailer today. Already a subscriber? No worries—join our Facebook group for insights and dialogue from industry specialists like you. And don’t forget, you can always purchase single issues if you prefer that instead.

If you still can’t get enough, register for the Creative Retailer LIVE Spring 2023 event May 2-4 in Pawhuska, Oklahoma for opportunities to learn from peers and network with industry professionals.

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Happy Holidays from AQR

Happy holidays

Happy Holidays from your friends at Creative Retailer! We hope the past year had more in store (literally and figuratively) than you hoped. As we look to 2023 we wanted to reflect on the past year.

Reflecting on 2022

  • The biggest change was our rebrand to Creative Retailer, expanding to creative arts beyond the world of quilting.
  • We also had our first live, in-person event that was so successful we had to plan even more. (Speaking of, registration is open for the next LIVE event in Oklahoma this May.)
  • Quilters once again rose to the occasion to support fundraisers sending aid for the War in Ukraine.
  • We continue to provide resources to retailers across the country and globe as the fast-paced world we live in transitions to more digital content.

As always, thank you for your continued support. We’ll see you in 2023 and hope you all have a happy, healthy, and prosperous year ahead.

If you’re looking for more information to guide you in owning a retail business, subscribe to Creative Retailer today. Already a subscriber? No worries—join our Facebook group for insights and dialogue from industry specialists like you. And don’t forget, you can always purchase single issues if you prefer that instead.