10 Do’s & Don’ts for 2010

Do start crunching numbers so you have an accurate understanding of your situation. Without a clear snapshot after the holidays, you won't be able to make the critical business decisions facing you in 2010. Don't let sentiment get in the way of making those decisions. Only the lean will be in a position to weather the next 18–24 months of retail and supply chain retrenchment and realignment. Do use the 80/20 Rule. Apply it as a test of the critical areas in your business. Let it inform you on key inventory to reorder, your best salespeople and store personnel, your core “high yield” consumer base, and the advertising and marketing that provide the biggest returns. This will enable you to work from a position of real knowledge and understanding and help you make better decisions. Don't apply the 80/20 Rule without the help
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