How do you improve the cash flow in your independent retailer or e-commerce brand?

I want to introduce you to an acronym that I came up with to talk about the different elements that make up the cash flow in your business. And that, appropriately enough, is SHOPS.

And in today's episode, I'm going to talk you through the five different elements of SHOPS and how each one has its part to play in cash flow.

If you want to improve the cash flow in your business, by the end of this episode you should know where to start and what you might need help with.

[00:00] 5 Elements for Better Retail Cash Flow (SHOPS)

[01:42] What is the meaning of cash flow

[03:34] SHOPS - The elements for better cash flow

[04:10] S if for Sales

[06:29] H is for Having a cash flow map

[10:23] O is for Overheads

[11:56] P is for Profit

[13:13] S is for Stock

[13:40] What I look at when people come to me with a cash flow issue

[16:26] Do you want help managing your cash flow?

Links:

Learn more about my mastermind for product business owners: https://www.resilientretailclub.com/retail-business-mentoring/

Related Episodes:

Ep198: 5 Truths About Cash Flow in Retail - https://www.resilientretailclub.com/podcast-episode/5-truths-about-cash-flow-in-retail/

In this episode of the Resilient Retail Game Plan, host Catherine Erdly and coach Annabel Gonifas explore how mindset influences business performance. Catherine discusses her personal experiences and emphasizes the importance of addressing mindset in her Product Business Mastermind. Annabel elaborates on the key challenges small business owners face, such as limiting beliefs, values alignment, and understanding personality strengths using tools like Clarity 4D. They discuss how understanding these elements can help business owners overcome procrastination, enhance motivation, and align their businesses with their true values and strengths. The conversation offers practical insights into how a strong partnership between strategic consulting and mindset coaching can lead to business transformation.

[00:00] How Mindset Impacts Business Success

[02:55] Welcome to Annabel Gonifas

[03:43] What are some of the ways that small business owners are holding themselves backMarker

[04:46] Examples of some common limiting beliefs and how they might play out in your business

[07:37] Why do so many small business owners struggle with mental blocks when it comes to running a business (that they didn't seem to have in a 9-5)?

[10:50] What can procrastination tells us?

[14:44] What is personality profiling? How does it work and how is useful in your business?

Links:

Learn more about my mastermind for product business owners: https://www.resilientretailclub.com/retail-business-mentoring/

Related Episodes:

143: Four Key Traits That Product Business Owners Need To Have In Order To Flourish - https://www.resilientretailclub.com/podcast-episode/four-key-traits-that-product-business-owners-need-to-have-in-order-to-flourish/

147: 7 Vital Ways To Avoid Giving Up On Slow Sales Days - https://www.resilientretailclub.com/podcast-episode/7-vital-ways-to-avoid-giving-up-on-slow-sales-days/

179: 7 Lessons I Learned from My Mastermind Members - https://www.resilientretailclub.com/podcast-episode/7-lessons-i-learned-from-my-mastermind-members/

It's amazing the difference that a year can make.

I am one year into my signature mastermind and I'm just about to start welcoming the fifth cohort of my signature Mastermind program where I work in-depth with ambitious product business owners, finding out what's going on with them, discovering what their challenges are, and helping them achieve their business goals.

And since I effectively become part of their teams for six-months (or more), it has given me this insight into what is going on inside these amazing and successful businesses.

What I want to share with you in this episode are the lessons that I have learned from working with a wide variety of ambitious product business owners, e-commerce brands, and independent retailers and help you to think more broadly about what it means to be a product business owner in 2024.

So let’s dive in:

[03:10] The Benefits of the Mastermind for Product-based Business Owners

[05:42] Lesson One: There are lots of different routes to success for product-based businesses

[09:47] Lesson Two: High Street is NOT dead - there is a place for independent retailers

[11:53] Lesson Three: A founder’s focus is critical to the success of your business

[15:39] Lesson Four: It is possible to be in control of your business numbers

[19:34] Lesson Five: (With help) It may take a lot less time than you think to accomplish your most pressing goals.

[22:35] Five things that I've learned from running a Mastermind for product-based business owners.

[23:30] Join the next cohort of the Mastermind!

Learn more about the mastermind at https://www.resilientretailclub.com/retail-business-mentoring/

Get all of the show details on our website at https://www.resilientretailclub.com/podcast-episode/5-lessons-ive-learned-from-ambitious-product-business-owners/