Clothing Boutique Success - 2020 #BoutiqueBossPlanner Tracking Sheet How-To's & Tips

Are you ready to grow your business in 2020? This is the tool you need. This is more than your average planner. This is a true business tool, a retail resource you don't want to go into 2020 without. Let's take a look at what makes the Boutique Boss Planner different than any other planner on the market. Yes, we're going to go into self assessment and help you identify your goals for 2020. We're going to help you build a roadmap, identify where you are and where you want to be within your business. Goal setting, staff goals, health and wellness goals, spiritual goals, even family and relationship goals. Your personal well being obviously is important to your business, but let's get into a few more of the details and the guts of this planner. Things that are going to help you succeed financially in 2020. We believe that your inventory should work for you rather than against you. And understanding where your money is tied up in your business is a true difference between a profitable business and a struggling hobby. This yearly comparison of sales and inventory is a perfect example of one of the many tracking sheets inside this Boutique Boss Planner. This is equipped with helpful hints on where to get this information, formulas to help you make sure you're figuring the numbers properly, an example to show whether you're winning or losing obviously in your business. This tracking sheet right here is designed to help you understand where your sales are, where they were, if there's growth within the business or not, but also identifying your inventory last year compared to this year. A lot of times in business we say our sales are up, but if our inventory has tripled, but our sales are just up a minimal amount, that does not mean we're successful. That's where we're going to wonder where's our cash in our business? This tracking sheet helps you keep on track of that, knowing exactly what you're bringing in, what you have on hand in inventory to make those sales. Again. In all these tracking sheets we give you a quick reference guide to how to figure these numbers and tell you exactly where you're going to be getting these numbers from. The next tracking sheet is the monthly comparison of inventory. Again, like we mentioned, inventory is your biggest, biggest asset and it should be working for you rather than against you. So understanding where your inventory is at at the beginning of the month and the end of the month, what your average inventory is, what you've purchased throughout the month is going to help you understand your cost of goods sold and your turn rate. Turning your inventory into cash faster is another key element to financial success within Your business. It keeps that cash flowing. And we all know cash flow is a huge part of success in business. You can't spend inventory right? So identifying what your turn rate is in your business. Huge. Again, we have a small reminder down here. Formulas to help you understand where to get these numbers from and how to figure this. Moving a step further, we'll go into the best return on a classification. Best return on investment for classification as well as your lowest. Where is your money best spent with vendors with inventory classifications? Are you spelling more tops than you are bottoms? Perhaps you're a gift store? Are you selling more dishware than you are say towels? It all just depends on how you break up that inventory classification within your store. And that is key to knowing those classifications. Best return on investment for vendor Same exact thing when you go to market or when you buy from a vendor. Know who has the best return on investment for you and what vendors sit on your shelves or sit on your website and don't turn into cash fast. What is your sell through rate again? A formula for figuring these things out and plenty of spaces to make notes along the way. Why do we think these tracking sheets are so important? It is important for you to compare apples to apples in your business. When you're making a decision on how to invest your cash for your business, it's extremely important to be able to look back at a glance in one area and know exactly what we were dealing with. Guessing in business is not a good idea. Let's move on. Monthly comparison this is for sales and miscellaneous items. Sales by month, current year total. So itemize this out by month and keep a running total for where you're at. Are you reaching your year end sales goals? How about expenses? Keeping track of those expenses in one spot guys, that's a good eye opener for you to have a really good health check on your business on the amount of money that's going out. Who's your top customer in these months? Why is this important? You send thank yous to them. You retarget them for further marketing efforts. Very important. How about what's going on in the weather? We all know that weather plays a huge part in the world of retail, right? Perhaps you had a blizzard in May, Perhaps you had 60 degree weather in January and you're in the upper Midwest and that's just extremely unnormal. And that affected your January, February sales. Make notes of that. Because when you look back at your sales for the month when you go to market next, next fall and you say oh well last January we only did this much money in sales, there could be underlying contributing factors right here. What was the weather like? What events and promotions did you do? How about staff notes? Did you maybe not hire your number one, a string staff person until May and therefore your sales leading up to that didn't do as well as they did further on in the year? Make a note of that. Staff is very important and also pays a contributing factor to your sales. Best promotion making sure you write those down exactly when you did those and any little notes about that promotion can help you better plan for events in the future. Monthly Comparison on Social Media and Marketing these trends are very important. How are we doing in page views on a website? Is our email list growing? How about our text list? Keeping up to date on those can help you better understand your marketing efforts. This planner also comes complete with all sorts of holiday planning guides to help you with your marketing efforts as well as checklists. Annual checklists are very important to us as boutique owners or retailers and because these things we only really do once, right? But we can't forget about doing them. These are important things that otherwise we may forget and it turns into trouble whether it's with the IRS or with our staff later on down the line. So we give you numerous checklists throughout this planner to help you keep you on track. Here's some January, February, March Goals for marketing and ideas, Promotions, events, things like that. Things you want to remember for quarter one. We do this also for quarter two, three and four throughout the planner. Very important. Every month is equipped with a really cute little training list or checklist or educational content for you. So there's 12 different elements of trainings and educational content in here also to just up your game. Continuing your education. It's a very important part of growing in business. We also have of course your monthly calendar that's equipped with market dates, major events and holidays, everything that you need to know and some fun little areas for your own little checklist. Again, we are big on tracking and reminding you of different things. How about what you have going on? What ideas do you have coming for social media graphics that you need to update? Are you going to host an event? Anything socially savvy? We've got ideas here to get those wheels turning so you can promote your business the best way possible. Monthly Goals Inventory Intake what are you planning on bringing in this month? Right? What are some things that you need to make sure you don't forget to order going forward? And this is one of our last training or checklist that I think is extremely Important. This is your monthly daily sales checklist here. This register is so important to you as you go through your month in business. And when it comes time to sit down and reconcile your bank statements, your credit card statements, your PayPal or Stripe or Commentsold statements, all of that information should be right here. All you will need to do then is open this this planner up and reconcile all of those statements with everything in one spot. Again, having these things at a glance where you can reference them quickly and accurately is extremely important when you want to become the best investor of your money possible. Whether you're investing that money in payroll, inventory or other expenses, understanding what's coming in and what's going out is key. So anything that's brought in in cash, checks, credit card deposits, other which would mean PayPal, comments, sold, Stripe, anything outside of your traditional cash, check or credit card statements, that income goes right here. What was your total deposit? Were you over or short? This is important because if you're trending that you're consistently short on your deposits or over, there's an issue there. Making note of that and not just sweeping it under the rug is very important. Is there an issue with your staff? Is there an issue with the way you are collecting fees if this does not balance, if you're over or short, what is actually being deposited into your checking account, there's a problem. Make some notes there. Again, we have even more tracking information here. What is your payroll goal? What's your sales goal? How about your turn goal, your inventory turn goal for the year or for the month moving forward? What is your inventory at cost at the end of the month, Inventory at retail at the end of the month. These are very important for you to understand the growth or the lack of growth in your business. To say sales are up but not understand why or not have an idea where that's coming from is very important in your business. Knowing the right answers helps you become the best investor of your inventory, best investor of your cash, best investor of your time in your business. And that's our overall goal here for the Boutique Boss Planner for you to become extremely profitable in 2020. Knowing your numbers is key. Furthermore, total sales for the month, total sales for the year to date. Are we happy or are we sad about this number? How about advertising costs and notes, website page views, everything you want to know. Guys, jot it down. Keep track of this because this boutique boss planner, it's going to go with you wherever you go. We do even further information on your on your calendar give you opportunity to write Notes. We're big on checklists, we're big on motivation, we're big on quotes. Giving you all sorts of encouragement throughout the planner. You will not miss a holiday, you will not miss a promotion, and you guys will keep your staff and yourself on track. At the end of every month, we do an end of the month tracking for sales and E commerce. Again, we don't want you to miss a beat. You are going to track your sales, your discounts, what's come in for the month, what has went out for the month, what do you have planned to receive in the next few months? All of this information is going to be kept track right here. Furthermore, what supplies do you need? What are you short of? What is your open to buy? How about payroll for the year? Where are you at? Keep track of these things so it doesn't get out of hand. How many hours have you been paying out? Compare, compare these numbers year to year. This is very important. Your line of credit, your credit cards, any other debts that you have. Keeping up to date with these and having these numbers written down on paper, guys, helps you stay accountable. Big about accountability, right? That's why the Boutique Hub is in existence. People can work together, collaborate with each other, build each other up, be accountable for who you are in your business and where you want to go and how you want to get there. This Boutique Boss Planner, along with the collaboration and networking you can receive from the community of the Boutique Hub, is your true recipe for success in 2020. Every month ends with some reflection. Time to dedicate to your goals and track where you are and how you want to continue on in the future. Again, there's 12 months of this. It's very detailed and we have outlined all sorts of fun, unique steps and promotional opportunities for you as well. We feel this Boutique Boss Planner is the ultimate retail tool and we look forward to you using it. Make sure you tag us and let us know how you like it, how you love it and check us out. The Boutique Boss Planner on Instagram and Facebook. Guys, have a great year.