Sales pitfalls RSAs need to keep in mind

December 2, 2019 | Comments Off on Sales pitfalls RSAs need to keep in mind

Nov. 25/Dec. 2, 2019: Volume 35, Issue 11 By Jerry Levinson   I’ve worked with many flooring dealers on a one-on-one basis as well as in the Flooring Business Master Classes. I’ve found that many flooring pros make the same mistakes when pricing their products and installation. The most common error made is on the initial contact with the customer. A typical customer will asks, “What do you charge for new carpet?” Most flooring professionals...

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Al’s column: How to get your team psyched

November 1, 2019 | Comments Off on Al’s column: How to get your team psyched

October 28/November 4, 2019: Volume 35, Issue 9 By Lou Morano   Everyone in every organization has a job description, whether written out or not, that includes their regular duties and tasks. (This includes owners such as myself.) If we are operating efficiently, everyone should be pretty much busy with little downtime. Then we have additional projects that need to get completed. These projects are usually isolated tasks—some are recurring; many are not. Here are...

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Al’s Column: Weighing the impact of the ‘Wayfair’ case

October 21, 2019 | Comments Off on Al’s Column: Weighing the impact of the ‘Wayfair’ case

October 14/21, 2019: Volume 35/Issue 8 By Roman Basi   The recent Supreme Court decision (South Dakota v. Wayfair, Inc.) has dramatically impacted online retailers and increased possible successor liability risks in terms of merger and acquisition transactions. Prior to the Wayfair ruling, the “physical presence” standard set out in Bellas Hess and Quill controlled online retailers’ necessity to pay South Dakota sales tax. The physical presence rule allowed out-of-state retailers who sell their products...

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Al’s column: Creating a great brand experience

September 20, 2019 | Comments Off on Al’s column: Creating a great brand experience

September 16/23, 2019: Volume 35, Issue 7 By Chris Wallace   If you asked most people to tell you their favorite flooring brand, they’d struggle. In fact, they probably wouldn’t have one at all—and with reason. Brand recognition is incredibly low in the flooring industry, research shows. It isn’t easy to be a brand in the flooring sector. The product goes from the manufacturer that makes it to the retailers that sell it, and somewhere...

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Al’s column: Make sure your vendors are true partners

September 6, 2019 | Comments Off on Al’s column: Make sure your vendors are true partners

September 2/9, 2019: Volume 35, Issue 6 By Lou Morano   (Editor’s note: This is the fourth installment in a multi-part series.) For many years most flooring retailers shopped vendors according to the best value—just like many of our customers—and we often purchased from those vendors. Over time, however, we noticed that some of those vendors were not up to our standards as it pertained to the level of customer service they provided. We also experienced...

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Al’s column: Mulling an acquisition? Move slowly

August 26, 2019 | Comments Off on Al’s column: Mulling an acquisition? Move slowly

August 19/26, 2019: Volume 35, Issue 5 By Roman Basi   When buying or selling a company, it is important to understand the intricacies within a merger or acquisition (M&A) in order to circumvent potential issues prior to closing. Those familiar with M&As understand the importance of key transactional aspects associated with these deals, such as the letter of intent, due diligence, purchase price allocations, working capital and purchase agreements. However, there are intricacies within...

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Al’s column: Ins and outs of concrete subfloor prep

August 8, 2019 | Comments Off on Al’s column: Ins and outs of concrete subfloor prep

August 5/12, 2019: Volume 35, Issue 4 By Lauren Picard   (Editor’s note: This is the first of two parts.) We have all been there. You show up to a job, ready to perform a quick walk-through with the general contractor or property owner when you realize you’re standing on a dirty, neglected concrete floor that desperately needs your help. Now what? How you handle the concrete at this stage will directly affect the finished...

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Al’s column: Covering all the bases with sign-off sheets

July 12, 2019 | Comments Off on Al’s column: Covering all the bases with sign-off sheets

July 8/15, 2019: Volume 35, Issue 2 By Lou Morano   (Editor’s note: This is the third installment in a multi-part series.) Many retailers have had to deal with customer complaints over the course of doing business. Perhaps you had a client who though her carpet was defective because there are pulls in it. Or she’s looking for monetary compensation because of the mess your installers made when you ripped out her old ceramic tile...

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Al’s column: How much is your business really worth?

July 1, 2019 | Comments Off on Al’s column: How much is your business really worth?

June 24/July 1, 2019: Volume 35, Issue 1 By Roman Basi   You’ve invested your life, money, time and effort into your business. Countless hours have been spent operating, maintaining and adjusting the business to stay competitive and profitable. All this begs the question: How much is my business actually worth? Plenty of owners could arbitrarily claim a value based on their income and assets, but how many have sat down and had an independent...

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Al’s column: Sometimes disagreement is healthy

June 13, 2019 | Comments Off on Al’s column: Sometimes disagreement is healthy

June 10/17, 2019: Volume 34, Issue 26 By Lou Morano   (Editor’s note: This is the second installment in a multi-part series.) If you want to be truly successful, make minimal mistakes and make more “right” choices, then this point is of colossal importance: Surround yourself with people who are not afraid to challenge you. I never understood why owners of companies surround them- selves with “yes” men or with people who think exactly like...

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