My column in the Post this week looks at how small businesses turn weaknesses into strengths.
The topic was inspired by the Post itself. This week it brought back its Monday paper, which had been shelved for the summer. Because there’s not much business news on Mondays, they are filling the Monday paper with more features, sports and arts – recognizing a weakness and making sure it’s no longer an issue.
Every retailer gambles when it purchases inventory, knowing some items will be more popular than others. In the heart of what used to be East Berlin, the Broker's Bier Borse devised a market-oriented solution. An electronic ticker over the bar readjusts prices every three minutes, upping the pricetag on popular beers or lunch specials, and lowering the prices of the drinks and dinners currently less in demand. Result: better-balanced inventory, fewer product shortages, and daily discounts for bargain hunters.
Click here to read the full story.
Bonus weekend reading:
Who are Canada’s fastest-growing startups? Read all about the Hot 50 in the latest issue of PROFIT Magazine (or click here).