The Resilient Retail Game Plan Catherine Erdly

Creating content for our businesses, love it or hate it, it is part of the everyday life of a small business owner. But how do you do it in a way that doesn't suck all of the joy and fun out of the process? 
 
In this episode, I'm joined by Char Dixon. Char is the founder of Loudmouth Content. She also has a really in-depth background in the retail industry and a whole host of knowledge about what it takes to market and promote your product business in a way that feels joyful, fun, and without the overwhelm. 
 
This episode has a lot of actionable tips for your business so let's dive in.
 
[00:00] Social Media Content Creation Secrets for Retailers with Char Dixon from Loudmouth Content
[01:50] Welcome Char Dixion of Loudmouth Content
[04:48]  How do you think people should be optimizing it or making the most out of their content to make sure it's pulling its weight?
[08:10] How do we make our own headlines?
[10:36] How can you use content to move people through the sales process?
[13:02] What type of digital content fits each phase of the buyer's journey?
[15:29] How do you create content that builds community and connection?
[21:21] Tips for streamlining content creation for small businesses.
[24:50] How do you measure the success of your content? 
[27:32] Where to find out more about Char Dixon at Loudmouth Content
 
Want to learn more about content creation? Check out these other episodes.
169: Strategic Content Production And Youtube With Matthew Hughes
170: All Things TikTok With Penny Walker
 
Get all of the resources on our website at https://www.resilientretailclub.com/podcast-episode/social-media-content-creation-secrets-with-char-dixon/

Today I will be answering four questions that I've been asked from my membership and mastermind about stock management.  
 
If you've got a question about stock management that isn’t answered by today's podcast, you can join the Resilient Retail Club, where you will be able to ask me whatever questions you’d like whenever you like. 
 
And if you have enjoyed this series on stock management but you know, for a fact, you will just not have the time to do it, then I do encourage you to join the waiting list for my new service, which will be launching later this year. I am going to be able to work with you to manage your stock better. Join the waiting list here: https://futureretail.lpages.co/feel-good-business/
 
Let’s Dive In:
 
[00:00] Your Stock Management Questions Answered
[01:51] If you have questions about stock management that are not answered here reach out!
[02:22] Question 1: I'm a stationery company and I sell both direct to consumer and business to business. It would take me around 10 business days to get more stock.  I've heard that you should always order the minimum order quantity (MOQ) when testing out a new product. But what if that minimum is one? 
[06:28] Question 2: Quite a bit of my stock has a really long lead time, like six months, and I need to buy quite a bit to get a decent price in shipping. How do you balance making sure you don't run out of stock with not carrying too much? Should I carry smaller amounts and order more often, even if it means the margin takes a hit?  
[10:16] Question #3: I would like some guidance when stock has to be ordered a long way in advance. So for example, in my case, children's clothes are pre-ordered in autumn for spring delivery with new designs and styles released. I find this challenging as I'm being forced to buy in larger quantities than I would usually as I can only pre-order. They have no stock to order again if I misjudge. Plus it's a new design so I feel like I'm gambling on what would sell well. Often the order arrives one to two months late and it is a large sum of money I have to pay in one go when I wouldn't usually spend like that.
[15:58] Question 4: I'm buying Christmas stock, how much stock should I have, ideally in terms of value? Is it as simple as I want to turn over X during November and December so my stock value should be Y? 
 

How often are you reviewing your stock?
 
Stock management is not a one-and-done type scenario.  
 
I certainly would be able to sit down with you and audit your stock. We would be able to go through it, look at how much you've got, understand what's working, and what's not working, and I could make recommendations on how you could trim that stock back and what you should focus on going forward.
 
And while this can be incredibly helpful it won’t prevent issues on an ongoing basis. 
 
Moving into a monthly review is a simple, but powerful way to get a vision of what the impact of the month that's just gone by is going to have on your future stock. And then you can use that information to actually take action. 
 
And I'm a big believer in information for action. You want to be able to look at your last month's sales and understand immediately what that means for you going forward.  
 
So today we are talking about my third golden rule of stock management - making stock management a monthly review process and what steps you need to take to accomplish it. 
 
If this all sounds very interesting, but you know, for a fact, you will just not have the time to do it, then I do encourage you to join the waiting list for my new service, which will be launching later this year. I am going to be able to work with you to manage your stock better. Join the waiting list here: https://futureretail.lpages.co/feel-good-business/
 
Let’s Dive In:
 
[00:00] My third Golden Rule of Stock Management: Make stock management an ongoing process in your store
[03:21] Why stock management is not a one-and-done activity for your store
[04:08] What activities are included in a monthly stock management review
[07:08] Examples of what can happen when you are actively managing your stock plan
[08:15] Questions to ask yourself on an ongoing basis about your stock plan
[14:40] The Three Golden Rules of Stock Management 
[16:43] Final thoughts and my new service
 

How well are you managing the most valuable asset in your business? 
 
In other words, your stock. The chances are, if you are a product business owner, whether that is an e-commerce brand or an independent retailer, then the majority of the financial value of your business is tied up in your stock.
 
And my question to you is how well are you managing that asset? 
 
In the last episode asked you, do you have a cashflow problem or a stock management problem. And I suggested that you have a stock plan to determine the answer. Once you have your stock plan, the its time to dive a little deeper.
 
Today I want to talk about my second golden rule of stock management. And that is be really clear about what's selling and being productive in your business versus what isn't selling and is sucking up all of your cash.
 
If this all sounds very interesting, but you know, for a fact, you will just not have the time to do it, then I do encourage you to join the waiting list for my new service, which will be launching later this year. I am going to be able to work with you to manage your stock better. Join the waiting list here: https://futureretail.lpages.co/feel-good-business/
 
Let’s Dive In:
 
[0:00] The Golden Rules of Stock Management Recap
[02:46] The Second Golden Rule of Stock Management - You need to know which stock is selling and which is not
[03:14] A stock plan is a good place to start, but it won't tell you the full story...it has a major flaw
[04:55] We fix that flaw by looking at the tail.
[07:25] Knowing what product is selling and what is not has other benefits to your business that will put you ahead of most retailers
[10:29] Making a stock plan by product type helps you understand even more
[12:14] If creating a stock plan by product type is overwhelming - then try a stock-to-sales ratio
[14:35] This is what you should be doing to start getting control of your stock
[16:22] Do you need this but find it overwhelming? Then learn more about my newest service

Is your cash flow problem really a stock management problem?
 
The reason I asked this question is because recently when I ran the Retail ROAR summit, I asked everyone who signed up what their biggest issues were. And the biggest issue that came up, particularly in people with a six-figure (or more) businesses,  was their cash flow and people were talking about issues that they were having managing it.
 
This happens to be an area that I love to geek out about so I wanted to share my experience from the retail industry to explore how improper stock management can lead to significant cash flow challenges. And to that end I have three golden rules for stock management that I want to share with you over the next three episodes.
 
Today is Golden Rule Number One - have a stock management plan. We dive deeper into why this is so important to start with and I will give you some tips on how to accomplish this. 
 
And if you are looking to get some help with managing your stock register to get more information about my latest service at https://futureretail.lpages.co/feel-good-business/
 
Let’s Dive In:
 
[00:00] Introducing The Golden Rules of Stock Management
[02:0]3 Do you have a cash flow problem or do you have a stock management problem?
[07:56] Why I understand so much about stock management. 
[10:18] How Tame Your Tiger will help your stock management
[12:43] Golden Rule of Stock Management #1 - Have a Stock Plan
[18:05] Coming Up Next - What is driving your sales?
 

In this episode of the Resilient Retail Game Plan, I’m talking with Tamsin Rennie, founder of Monroe Creative, about the critical balance between aesthetic appeal and functional performance of websites for product-based businesses. 
 
We discuss common mistakes businesses make when DIYing their websites, the significance of professional branding and web design, and how to strategically appeal to your specific customers. We also cover practical tips for improving website functionality, the importance of SEO, and making sites user-friendly and accessible. 
 
Tamsin emphasizes the value of cohesive and strategic branding in conjunction with a well-designed, functional website to enhance business success.
 
[01:47] Welcome Tamsin! Tell us a bit more about your business
[02:22] Tamsin shares about her experience with her own product businesses
[07:25] How important is it for a website to really have the right look for the brand?
[09:02] Can you talk me through what the process might look like to create a specific appeal for a very specific customer?
[11:09] What kinds of mistakes does Tamsin see shops make when they DIY their website?
[17:16] The relationship between branding and web design
[22:27] How to learn more about Tamsin
 
Get the full show notes on our website at https://www.resilientretailclub.com/podcast-episode/a-retail-owners-guide-to-effective-branding-and-website-design-with-tamsin-rennie/