Shanu S. Guliani, CFO of Guliani's Fine Jewelry, discusses finance and management best practices for retailers. Recent Posts
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ArchivesWhat Do Your Clients Really Think of You?
Posted by Shanu Singh Guliani on May 11, 2008
Why do clients repeatedly visit your store instead of others? I have asked these questions to numerous small business owners in my industry and among the top answers are:
Of course these are great answers—but sometimes I think these come from us store owners and not directly from our customers. I have never asked my clients why they keep coming back to Guliani’s Fine Jewelry. Have you asked your clients why they keep coming back to you?
Have you ever contacted your top ten clients? ...Read More Preparing to Sell Your Business
Posted by Shanu Singh Guliani on May 5, 2008
You’ve reached retirement age and are ready to sell your business within the next year or two. Here are five basic steps you should ask yourself to ensure that your business is ready:
Can I Get a Lower Interest Rate on My Business Loan?
Posted by Shanu Singh Guliani on April 29, 2008
The simple answer is YES. The Fed has begun to aggressively cut interest rates and it was the perfect time for me to play one bank against another. I contacted a competing bank that just opened up a branch in my area. I know this bank would be hungrier for my business than the bank I am doing business with now. I received a quote from this new bank on a loan exactly like my existing one—same in size of terms, size, duration, etc. I took this quote to my current bank and they were not willing to lose me (a long-standing customer of course). Once I presented them with the lower rate they were more willing to make a deal and keep my money there. If you’re in need of a business loan with an enticing interest rate be sure to shop around—don’t get to comfortable where you’re at because their might be a bank/lender that’s just as well known willing to make you an irresistible offer to help manage your small business. Industries: Finance How Do You Tell Employees You're Going out of Business?
Posted by Shanu Singh Guliani on April 27, 2008
The time has come for my parents to close their Florida jewelry store. They have decided it is their time to retire and enjoy the good life. Fortunately, our store in North Carolina is doing great and I have asked them to help me expand in my...Read More Leasing vs Buying Technology
Posted by Shanu Singh Guliani on April 26, 2008
One of the most important questions every small business owner faces is how to pay for new tech equipment which you need to help your business grow or to get your new business started in the first place. Is it better to buy the equipment you n...Read More Is Casual Dress Day for a High-End Store?
Posted by Shanu Singh Guliani on April 23, 2008
We all know image isn’t everything but it’s pretty darned close. I have to admit I’m not the nicest dressed person in my store—yeah I wear nice slacks and blouses but I’m definitely not likely to come in wearing a professional suit or dress. I do have a few pants sets with jackets but I think I’ve honestly worn the jacket once.
For employees, I have clearly outlined the dress code in our policy manual. I have stated women’s apparel should not be too revealing or tight fighting. For example, a dress should not reveal more than one quarter of the thigh. Blouses not to be transparent or too low. For men, again no apparel that is too tight fitting. Men’s shirts to have collars unless accompanied by a sports coat—buttoned and not worn open or too l...Read More Mail versus Direct Mail
Posted by Shanu Singh Guliani on April 20, 2008
Ordinary mailing is unlike direct mail in that it is the purchasing of an outside list of names and addresses. Mailing regularly to your existing database of customers and prospective customers is a great way to generate repeat business, uncover new leads, and let prospects know you’re out there. All you need is your customer database or a prospect database, postage, and the time to do the work to get the mail out the door.
Direct mail is a recognized industry that buys, sells, trades, and maintains mailing lists. You can purchase lists as small as 5,000 names or more. My local mailing house charges approximately $450 for 5,000 names. I’ve heard $100 per 1,000 names is the average cost of a mailing list—given the particular zip codes, median income, average ...Read More Interviewing Today and Not the Old School Way
Posted by Shanu Singh Guliani on April 18, 2008
Essentially I learned how to run my business from my folks—so I thought hiring someone was all about my gut feeling. Today, I’ve learned my gut has something to do with it but it’s also a purchasing decision. Too often I’ve treated an interview like a conversation which gives it no structure in which to gather information that will be useful in not only assessing the individual against the position, but also against other candidates. Overtime I’ve learned how to prepare for an interview which has resulted in better choices for my business: 1. The Introduction. An interviewee will give you their best answers when they know what to expect. Define both the process and the position. ...Read MoreIndustries: Human Resources Get on Oprah!
Posted by Shanu Singh Guliani on April 15, 2008
Come on! We all know everybody in the world wants to be on Oprah. She is seen as one of the most influential women in the world because of her TV show. Being on the show could mean instant credibility for yourself or your company. I came across a great little article from Marketing Sherpa with tips on “How to Get on ‘The Oprah Winfrey Show’.” Most of these tips should be followed to get booked with any media outlet. 1. Know what they want 2. Watch the show regularly ...Read MoreDo I Need a Toll Free Number for My Business?
Posted by Shanu Singh Guliani on April 13, 2008
Consider getting a toll-free number for your small business. These numbers can be a powerful sales and marketing tools:
Are You Praising Your Employees Effectively?
Posted by Shanu Singh Guliani on April 10, 2008
Employees expect to be recognized for their work and accomplishments. So, if you’re happy with your employees—let them know and really show it. For recognition to strengthen your team’s performance consider the following:
Industries: Human Resources Great Talent for Less
Posted by Shanu Singh Guliani on April 8, 2008
Are you trying to keep you payroll expenses down, but in need of high-quality employees? Consider these strategies:
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