To paraphrase an old saying, "When the going gets tough, retailers start slashing operational costs." Ironically, cost slashing usually exposes a retailer to even greater risks instead of fortifying it against economic uncertainties. All businesses have felt the impact of today's volatile economy. Retail has been hit especially hard, with sales in 2007 rising by only 2.4% - the smallest year-to-year increase since 2002. Despite such dour...more
What's the greatest risk to your portfolio during bad markets? Surprise! It's probably your advisor.The other week, a friend of mine sent me an article from a financial advisor in the U.S. asking me for my opinion. In the article, the advisor stated two things that stood out to me like a two-ton boulder falling out of a clear blue sky. They were the following. In response to the short rally that U.S., European and Asian markets were experiencing...more
These days, many similar businesses are in competition with each other to win the crusade for the customer. With the construction of each new restaurant, supermarket and department store, people are offered more and more options on where they can go. Many stores and restaurants carry or offer alike items and thus, there is little that can distinguish one venue from the next.However, one thing that does offer distinction is the level of customer service and, more notably, the level of customer disservice.When I first stared this article, I asked several people I knew what kind of experiences they have had with poor customer service. While some of their experiences were extreme - with one instance where a photo lab cashier punched an irate customer - most relayed occurrences consistent with my own experience. I narrowed it down to four behaviors of customer disservice. When these behaviors are continually maintained, the ability to drive customers away will surely be in the bag.People who act as if their customers are invisible - When I was in high school, my father sent my friend Jenny and me to a hardware store to fetch a plastic tube for the senior physics project he was building...more
Are you tired of being held hostage to your debt? Use these simple solutions to pay down your debt and eventually eliminate it forever.Cutting up your credit cardsAre you fed up with credit card companies? Are you having trouble paying off your minimum monthly payment every month? Do you wish there was some way to get yourself out of debt quickly...more
Don't get trapped by credit card debt forever. By making easy moves towards financial freedom, you can be debt-free in less than 2 years.Approaching credit card debt with a planHave you accumulated a ton of credit card debt over the years and simply don't want to have it breathing down your neck any longer? Do you want the freedom that comes with...more
Did you know that you could be hurting yourself by consolidating your debt with the wrong company? Here's how you could be suffering.Unnecessary debt consolidation feesIf you're in the market for a good debt consolidation company, chances are you're already struggling with money. You've fallen behind on your credit card payments again, lost track of the mortgage or simply just can't afford to survive with all the debt you've accumulated. So, the last thing you need when you turn to a debt consolidation company is another headache, right? But the truth is that there are plenty of dishonest debt consolidation companies out there who will take advantage of your situation and make sure they take you for a ride and suck as much money out of you as possible.The first thing you'll notice about a dishonest debt consolidation company is that they will charge you unnecessary fees right away at the beginning of the consolidation process. Consolidation is a process whereby the debt consolidation company will contact all your credit card companies, arrange to pay off your debt to them or negotiate lower payments and thereby save you tons of money.However, consolidation companies typically only...more
Understanding and taking the right approach to eliminating debt is the most important step you need to take. Learn that now and get started.Realizing that you have a debt problemFace it: You don't want to be saddled with debt anymore! But like some...more
Debt consolidation? Debt settlement? Bankruptcy? They can all hurt your credit score, but which way is the best way to eliminate debt?Consolidating debt with the wrong companyIf you're in a bind with debt, struggling to maintain a healthy credit...more
Regardless of whether this is your first or tenth time negotiating with your creditors, there are some things you simply should not say.Making unnecessary demands on your debt paymentsAre you preparing to try and negotiate lower debt payments with...more
Ever feel like you just can't pay off your debt quick enough? Here are some ways your credit card creditor may be holding you down.Increasing your credit card interest ratesDo you walk out to your mailbox every month, snatch up your bills and wonder:...more
HR leaders must know how to thread their way through the ins and outs of outsourcing before their organizations can build an effective HR solution.Although HR professionals have been using outsourcing in one way or another for many years, the trend...more
So many clients have been telling me they're launching new teams this month. But there's a catch - these are new teams made of "old parts," which is to say no brand new employees are on the teams. The teams are comprised entirely of managers,...more