Monday, January 4, 2010

Prove value to survive 2010. What's your plan?

Fourth quarter is the live or die point for many retail businesses. They must generate funds to pay old bills, provide for current expenses, invest in spring inventory, and have enough of a nest egg to survive a volatile first quarter that brings inclement weather usually resulting in feeble sales.

Businesses that stumble during this period and cease commerce (go out of business) devastate the wholesalers they would have normally purchased from, and before going down they crumple competitors by dumping low priced inventory into the marketplace. Then, in a final death knell, they disgorge their staff into the ranks of the unemployed.

It clears the landscape in a messy way leaving pockmarks of unfilled dreams and aspirations including those of unpaid creditors.

In the next few weeks those sinking into the whirlpool of out-of-business will make their bitter announcements and others will initiate changes to survive. What is your company doing to prove value and stay viable in 2010? And what about you?