Beauty Store Business

AUG 2017

Beauty Store Business provides solutions for better retailing! New products, industry news, savvy business moves and important trends affecting both brick-and-mortar and online retailers are included in each issue.

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Page 95 of 123

94 August 2017 | Gawrav Sinha, Run your business with more ease and profi tability by following these simple suggestions. By Steven Austin Stovall, Ph.D. he sales receipts show that you had a good month and your expenses haven't been too out of line. In fact, the books show that you actually made a small profit in what is otherwise a slow month. However, here it is once again at the beginning of a month, and you have a negative balance in the checking account. The reason isn't related to profits—it's cash flow. This is the bane of the retailer. Where many beauty stores falter is that they hyperfocus on profits rather than cash flow. There is, of course, nothing wrong with profits—it's what pays your salary. But properly managing your cash flow ensures that you have money when you need it, and you don't find yourself in the red at inconvenient times.

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