Coronavirus and Retail Business

We have created this dedicated page as a resource to our community of retail store owners. Every report, podcast, video, and live webinar that we publish about Coronavirus and its impact on retail businesses around the world is all available here, and is completely free. To be a part of the conversation, use the links to below to follow us on social media…

Get the Special Report - Covid 19 & Retail

Uncharted Territory: How COVID-19 Could Affect Your Retail Business will give you information to make informed decisions, ideas to work around potential problems, strategies to deal with the stress that comes with uncertainty, and inspiration to stay strong and resilient!

Latest Community Forum Event

May 26, 2020

Bob & Susan will be hosting a live community forum event on Tuesday afternoons at 1:00pm EST. If you would like to join us and ask questions, please follow us on Facebook by clicking here.

Join the Discussion

Thousands of retail store owners just like you have joined our Facebook Group, WhizBang! Retailers. It’s free to join and you will find our community of retailers to be an amazing source of inspiration, ideas, and thoughts about independent retail store ownership. Join the discussion today!

Podcast Episode #54 - May 29, 2020

Coronavirus and Independent Retailers

Daily podcast hosted by Bob Negen

Listen to the audio version below. To tune in live, join us on Facebook weekdays at 9:30am EST. To subscribe to the podcast, Click Here.

To watch all of the podcast videos, click here and be sure to follow us on YouTube

Subscribe to the Podcast

Watch Previous Episodes

Paycheck Protection Loan Calculator Tool

Check out this amazing spreadsheet tool designed by our WhizBang! Certified Coach, Cris Willis and her analytics-wizard husband, Gary. This tool will help you estimate 1) how big a loan you will be eligible for 2) what your potential loan forgiveness could be and 3) a simple cash flow to figure out much you actually need.

Click to download the spreadsheet tool and watch the interview we did with Cris and Gary to get step by step instructions for how to use it. It’s GREAT STUFF!

Important Videos and Podcasts

In this special bonus to the Coronavirus and Retail Live Community Forum, Susan goes over the updates and changes to the CARES act that have occured in just 48 hours as new information comes out and the government makes clarifications.

In this special bonus episode, Bob interviews CEO of Management One, Marc Weiss about what the best retailers will be doing to help position themselves for success when these uncertain times end. They talk supply chain management, store sales statistics, and negotiations

Bob talks to our favorite retail social media expert, Cyrstal Vilkaitis from Crystal Media. They talk everything from engaging your social media audiences, social selling, and using ads to increase views to their predictions for the future of "pay-for-play" on Facebook. For more information about her new Social Selling Course, click here!

Social Selling Guru Candace D'Agnolo discusses how to use Facebook Live for selling. This is a segement taken from our Coronavirus and Retail Live Community Forum. To watch the full video, click here

In this special bonus episode, Bob talks to Bob Zechel, a super-smart Canadian retail store owner, lawyer, and Platinum Mastermind Group alumni. Together with his wife and daughters, Bob is the owner of five Cloud Nine Pajama (https://www.cloudninepajamas.com) stores in Alberta, Canada and talks about some of the things he's doing to get through these uncertain times. Including taking a pause, rating your vendors, and landlord negotiations.

In this interview, Bob talks to Rich Rose, a managing partner at Rainstar Capital. Rich is an expert in all things money and retail. There are two parts to this interview... In the first part, Rich shares a detailed strategy to manage cash in times of great disruption. In the second part of the interview, Rich discusses what is happening with capital markets and the SBA.

If you are looking for a great strategy to get you through the rest of the disruption caused by coronavirus, and beyond, you owe it to yourself to schedule an uninterrupted 30 minutes to watch this interview with Platinum Mastermind Group alumni Maureen Doron. In it she's shares her "clienteling system" and, trust me, it's awesome!

In this special bonus episode, we'll talk to a certified small business advisor, Eric Seifert of Left Coast Capital Resources about what is available from the SBA, what might happen with the current legislation, and get his practical advice on how to deal with this financial situation.

Resources

Here are some possible helpful resources for you as you plan and prepare for the spread of COVID-19. Bonus… they are all great resources even if the spread is very well contained and the effects are very mild!

Cut Expenses

PayRoc

If you are looking to decrease expenses, consider having PayRoc give you a free quote on your merchant processing fees. They saved us many thousands of dollars in fess each year, and they could be able to help you. Right now they are having a deal where they guarantee they can meet or beat your current rates – or they will give you $1,000!

If you’re interested, contact Dan Housman from PayRoc. Sure couldn’t hurt to get the quote.

Manage Your Business

Management ONE

If you want help with your inventory open to buy planning, your inventory flow, as this situation unfolds, then the team at Management ONE can help. Get in touch and they will do a free financial review to find out how or if they can help you.

To learn more, contact Marc Weiss at Management ONE.

Retail Sales Academy

If you want to maximize the potential of every customer who comes in the door and give your team superior sales training, the Retail Sales Academy is for you. It does more than just train your team, it helps you build a long-lasting service culture that sells. You can learn more and sign up at RetailSalesAcademy.com.

Social to Sale

Leveraging your social media presence and keeping up to date on what’s working is going to be a critical component of your success – no matter what happens in your area. Our favorite social media expert for store owners is Crystal Vilkaitis and you can email Crystal to learn more about her Social to Sale program

Comment Sold

This platform is a great way to sell online using your existing social media accounts. It’s kind of like adding a mini online store!

Check out the details on their website

Previous Episodes

Coronavirus and Independent Retailers - Episode 54 - 5/29/2020

Coronavirus and Independent Retailers - Episode 53 - 5/28/2020

Coronavirus and Independent Retailers - Episode 52 - 5/27/2020

Coronavirus Community Forum - 5/26/2020

Coronavirus and Independent Retailers - Episode 51 - 5/26/2020

Coronavirus and Independent Retailers - Episode 50 - 5/22/2020

Coronavirus and Independent Retailers - Episode 49 - 5/21/2020

Coronavirus and Independent Retailers - Episode 48 - 5/20/2020

Coronavirus Community Forum - 5/19/2020

Coronavirus and Independent Retailers - Episode 47 - 5/19/2020

Coronavirus and Independent Retailers - Episode 46 - 5/18/2020

Coronavirus and Independent Retailers - Episode 45 - 5/15/2020

Coronavirus and Independent Retailers - Episode 44 - 5/14/2020

Coronavirus and Independent Retailers - Episode 43 - 5/13/2020

Coronavirus and Independent Retailers - Episode 42 - 5/12/2020

Coronavirus and Independent Retailers - Episode 41 - 5/11/2020

Coronavirus and Independent Retailers - Episode 40 - 5/8/2020

Coronavirus and Independent Retailers - Episode 39 - 5/7/2020

Coronavirus and Independent Retailers - Episode 38 - 5/6/2020

Coronavirus Community Forum - 5/5/2020

Coronavirus and Independent Retailers - Episode 37 - 5/5/2020

Coronavirus and Independent Retailers - Episode 36 - 5/4/2020

Coronavirus and Independent Retailers - Episode 35 - 5/1/2020

Coronavirus and Independent Retailers - Episode 34 - 4/30/2020

Click Here for More Episodes and Events

Welcome to Personal Business Skills where you'll learn...

4 ways to think about your time so you to get the most important work done and still have time for family, fun, and friends. Imagine having a social life AND a thriving business!
9 productivity hacks that allow you to work smart and get more done with ease.
How aligning your beliefs and your values can make immediate and major positive changes occur in your business and your life.
What is your Reticular Activation System and how do you harness its power? We’ll show you!
And so much more…

Welcome to Store Operations where you'll learn...

Scheduling secrets that will save you hundreds (or thousands) of dollars in payroll every month.
A simple technique that helped one client catch a thief – the first day she used it! (The harsh truth is that your store is vulnerable…)
The best method of creating a store opening and closing checklist - so you can start your day off (and end your day) right every single day.
12 ways to create a store environment that dazzles your customers.
And so much more…

Welcome to Financial Management where you'll learn...

8 ways to take more cash out of your business because CASH IS KING.
The 6 simple financial statistics that will tell you 99% of what you need to know about the REAL direction your business is taking.
How to read (and understand) a balance sheet and P&L statement without getting a migraine
The 5 crucial questions you should ask before even thinking about hiring your financial team.
And so much more…

Welcome to Digital Marketing where you'll learn...

How to strategically choose and plan your social media attack so you’re found in the right places at the right time - the places where your customers are!
A simple matrix with over 100 ideas for social media content so you're never at a loss about what to post.
How to make you email eagerly anticipated by your customer and welcomed to their inbox - not ignored, trashed, or worse.
convert website traffic into foot traffic and increased sales in your store.
And so much more…

Welcome to Customer Service where you'll learn...

How to train your team to say the 9-word combo that will help you handle customer complaints. You’ll have fewer returns, keep more loyal customers, and improve your employees’ confidence.
How to harness the magic of the rule of reciprocity and how you can gain more by giving more.
The proprietary W.W.M.C.W. method that will make your customers take notice (and tell their friends).
The 5 non-negotiable standards that you need to implement right now to create a premium customer service culture in your store.
And so much more...

Welcome to Visual Merchandising where you'll learn...

The 5 Critical Elements of Visual Merchandising and what difference they will make in the way your store looks and sells.
How the right signs become silent salespeople and add dollars to your bottom line with no effort from you.
The basic rules of effective in-store display (and what you need to know about displaying your merchandise the right way).
How to entice customers into your store with appealing, dramatic window displays.
And so much more…

Welcome to Inventory Management where you'll learn...

How an Open to Buy System will allow you to buy less, sell more, reduce clearance markdowns and build your profit margins.
Our 5-Point system to create an optimally efficient department structure. Plus, learn exactly how to use it in your store.
The insider way to expertly plan your annual OTB using our Proven 7 Step Process.
And so much more...

Welcome to Staff Development where you'll learn...

The secret to writing help-wanted ads that attract great people - and it all starts with creating your ideal employee profile (don’t worry, we’ll show you how to do that, too!).
The method to make the right hire every time with our exclusive interview process. Discover how to see below the surface using our techniques.
The best way to improve employee performance (and reward high-performing staff) that’s easy to implement and actually welcomed by employees.
And so much more...

Welcome to Assortment Planning where you'll learn...

How to get deals that will save you money and strengthen your relationships with your vendors at the same time.
The 8 key concepts of assortment planning and how to implement them in your store.
How to create your store’s merchandising philosophy and why it’s foundational to your success.
The most important reports you should run, review, and analyze to find out what your customer is hoping to find on your shelves.
And so much more…

Welcome to Selling where you'll learn...

The non-negotiable steps to a great retail sale and how to make them happen in your store.
The major paradigm shift retailers must make to become tremendously successful at selling and how to create this shift for your own store.
How to master the most powerful words you can use to explore customer needs and make more sales.
The secret to add-on sales and how to effortlessly increase average sale and add profit to your bottom line.
And so much more…

Welcome to Marketing where you'll learn...

How to stop wasting money on ads that don’t work, PLUS you’ll discover the secret to big time returns on all of your marketing efforts.
12 proven methods that will bring new customers into your store on a regular basis… Our clients have used these strategies in urban, suburban, and rural areas with great success.
A step-by-step Marketing Plan Strategy that our clients have used to drive their sales through the roof over and over again
And so much more…