RETAILpreneur is a new word I made up yesterday. It reflects what a retailer in this day and age needs to become. A retailer is a person that buys at a certain price and sells at a higher price and hopefully there is a little money left over. An entrepreneur is a risk taker that has the ability to put the past behind and seize new opportunities in the future. If you put entrepreneurial qualities in a retailer, you will get a person not afraid to try new and exciting things. You need quality information from your POS software to enable you to make the decisions that will allow you to control your niche markets. Big box retailers have cornered the market on cheap, but can't compete when it comes to being nimble and turning on a dime. When your Retail Stock Ledger tells you that Vendor A has a higher sell through and better turn rate than Vendor B, you now have the information needed to make quick informed buying decisions. Stock less inventory, turn more times and have higher margins is a recipe for success.

If you are still using older receipt printers, it could make your business look antiquated and out of date. New receipt printers, like the Epson TM88 IV series, are faster, can display your company logo and print coupons for future customer redemption, all on the same receipt ticket. So the next time you are interested in updating your company image and make the check out process smoother, look at new printers.

Small specialty retailers have always been at a disadvantage before now because of technology funding and staffing. ProphetLine POS/Retail Management has built into their POS software all the inventory analytics only found previously in expensive and complex software. With less money and staffing, you can not only compete, but thrive against the big boys. Click here to read the full press release.

It's the economy stupid was the slogan used to put Bill Clinton in the White House. Every time a staffer lost sight of this theme, he or she was quickly told to refocus and drive this point home. The same should be said about your retail business and the focus required to make it successful. A quality Point of Sale System is the vehicle to achieve success by capturing information on your customers and their buying preferences, proper inventory stock levels and what items and services to expand with. Retail success takes focus, hard work and technology tools to make it happen. When your POS System is a glorified cash register, why bother?

The ProphetLine POS/Retail Management Company spent much time and money using some of the best retail minds to give retailers reports that make sense. Our primary consultant was Alan Fisher of Retail Business 101. A report should be a concise summary of easy to understand data to make positive decisions from, not just a list with hard to understand information. All of the Point of Sale information is aggregated into the comprehensive Retail Stock Ledger. ProphetLine then takes this information and builds quick view reports that allow you to identify problems in your inventory and the necessary actions needed to correct the problem. Click the Retail Stock Ledger link to get a better understanding of what goes on and why. You can drill as deep as you want into the Retail Stock Ledger or build Open To Buy Plans with confidence your numbers are correct.

Good POS Software should have some reporting views that allow you to look at the overall health of your business at a quick glance. ProphetLine is constantly finding ways to make available valuable information for the busy small business person. All of these new reports are based on the comprehensive Retail Stock Ledger. My favorite is the Compare Sales, Profits, and Inventory Percentages. This report gives you a quick view of a department or class contribution to a retailer's revenue and inventory value. For example, if a department has 20% of your inventory value and only accounts for 5% of your overall revenue, you have a problem. You can then drill deeper and find the problem in the Retail Stock Ledger.