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Seeker Solution

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Business Blog

The Seeker Solution business blog provides operational management tidbits for the everyday business leader. These tips and solutions are targeted for small to medium sized companies in written and video format. You may also follow Seeker Solution on social media for more frequent, additional insights into the daily hustle of managing business operations.

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How to Grow Your Inventory-Based Small Business and Live to Tell the Tale

Regardless if you’re in wholesale or retail, you will likely agree that inventory tracking can be complicated. Unfortunately, much of the success of your business lies in inventory, too, making  accuracy, maintenance and selection a crucial aspect of your small business that you just  cannot sweep under the rug. Therefore, it may be high time to start treating inventory, not as  a necessary evil, but the possible be-all and end-all of growing your inventory-based small  business.     The key is in breaking it down into small, bite-sized pieces that you can easily manage and organize systematically, rather than tackling it piecemeal when the spirit moves you. Consider the following components: Your inventory management There’s no doubt as to the importance of solid inventory management. The real question lies in  doing it right. One legitimate concern is, of course, the question of how much inventory should  you carry at any given time. While the basic answer lies in the law of supply and customer  demand, there are actually more factors to consider, such as shelf life, seasonality, storage, and  cost.     This is where inventory control comes in. As labor-intensive as this task might seem, there are  always ways to simplify. A way to do so is by investing in inventory management software.  When implemented right, a good system not only helps you track inventory but it will also  potentially boost your bottom line by streamlining the process. And with a streamlined process,  everything else really just falls into place. Your storage Storage is a significant factor when it comes to inventory management. Know that different  products have different turnover rates. Moreover, certain products may require special storage  conditions. So while some products are okay in your basement, for example, others may be  better suited in climate-controlled self-storage or even a warehouse. There are really no specific  hard and fast rules when it comes to inventory storage, but there are best practices, and to  some extent, you will need to play it by ear. Your manpower More inventory often means more work. Not exactly something to complain about, but with a growing business it can mean biting off more than you can chew if you’re on your own. New  Castle Systems notes that expanding your inventory into a warehouse will inevitably necessitate  [...]

THE AMERICAN SPENDING CRISIS

Did you start your own business and find you’re left with a lot less in your pocket than you anticipated? Stressed over finances? You’re not alone. The total debt of American non-financial corporations as a [...]

ORGANIZING YOUR WAY TO SUMMER VACATION

Odds are you’ve been asked, “Where are you going for summer vacation?” Half of Americans would say they aren’t taking a summer vacation. A quarter of Americans can’t afford it. Bankrate As with all things [...]

SAVE MONEY THROUGH WORKPLACE WELLNESS

Take a look around your office for wellness. Which employees would you say are the most productive? Are they the employees who are mindful of what they eat and seem the least stressed? Odds are, [...]

HOW TO GET THINGS DONE ON TIME

My job, (or life), description looks something like this: Wife. Mom of five. Household CEO. Business CFO. Entrepreneur. Daughter. Sister. Friend. Volunteer. Director of child development. Chef. Event planner. Scheduler and play date organizer. Business [...]

CHOICES LEADING YOU TO CAREER AND LIFE HAPPINESS

The choices we make land us exactly where we are at this very moment. If I’m not happy with myself, then it’s time I can either make different choices so I can get to where [...]