PCI

Retail Store

It has been our experience that companies with annual sales of less than $1.5MM seem to seldom have sufficient liquid assets. The threat of a very large competitive retailer coming to town made this owner realize that he must either:

1. close his family business and try to get a job with this large retailer as the manager of the department that would sell similar products and services, or
2. shake up his store and implement a system with simple policies and procedures that would enable him to run his business like a business, using numbers as the guide to all his decisions.

This owner had earned an MBA degree 25 years ago, but he felt he did not need to use it when he inherited the store as a 3 man operation. When his business outgrew the pioneer phase, it seemed impossible for him to change his mgmt style and implement the principles he had learned in college.

We coached his team through this psychological and physical transition process and developed job descriptions so that everybody could be held accountable for their actions.

Our team custom built a predetermined profit- and budget-based management control system that focuses on achieving a series of numerical monthly and annual targets.

With the help of other professionals we set up a wealth-builder and a tax plan, based on the amount of monthly income each shareholder desires to receive after retiring from the business.