WITCE Wednesday — Gross Margin

It’s been a few weeks since my last WITCE (What is the Customer Experience) Wednesday. Sorry about that. It’s been more difficult to come up with post ideas than I thought. I’m game if anyone has any ideas or a topic they want my to tackle. I talked about the profit and loss statement in an earlier post, but wanted to tackle gross margin today. Gross margin is a part of the P&L statement and

WITCE Wednesdays – Government Mandates

I’ve missed a couple of WITCE Wednesdays, my bad — sorry!  I’m enjoying the series, but if I don’t give myself enough time to research a topic, I end up not having time on the Wednesday it’s due. I want theses WITCE topics to be valuable, so if I don’t have a good one, I punt. This week, I’m going to talk about mandates.  Mandates are a BIG deal and affect every business in the

WITCE Wednesdays – Inventory Velocity

  I’m gonna take a break from economic indicators this week. I had a desire to touch on a company specific topic that will affect many of the people in this community who sell a product. This week’s WITCE Wednesday is going to be on inventory velocity. Inventory velocity is the speed or rate at which inventory is cycled with a given period for each item. Another term I’m going to add to this post

WITCE Wednesday – Consumer Price Index [Economic Indicators]

I’m kinda enjoying posting on the economic indicators. I’m having fun with this part of the series. I hope you are too. Last week we talked about consumer confidence. This week we’re gonna tackle, the consumer price index or the dirty word inflation. The (CPI) consumer price index measures the change in price of consumer goods or a “market basket” of goods over time.  The market basket represents a list of commonly purchased household stuff

WITCE Wednesdays – Consumer Confidence (Economic Indicators)

I missed last weeks WITCE Wednesday. I’m sorry.  No excuse other than I just got too busy. I’ve enjoyed doing this series.  So, I figure I’m gonna keep doing it until you don’t like it any more or until I get bored, we’ll see which comes first. In this weeks WITCE (What is the Customers Experience?) Wednesday I’m going to cover consumer confidence. I figured I would make this the first of a number of

WITCE Wednesdays – Culture

“No companies, vendors, suppliers or anyone wishing to do business with [company] can contact directly or speak to anyone about their products or services, nor can they register their company, products or services on the website as previously done before.” I learned of this edict in a LinkedIn group. It is the policy of a Fortune 100 company, straight from the CEO. No one in that company is allowed to engage with a sales person

WITCE Wednesdays – Operating Expense vs Capital Expense

Over the last three weeks we talked about the 3 key financial statements; the income statement, the balance sheet and the cashflow statement. Today we’re going to go a little deeper and talk about the difference between an operating expense and a capital expense and why it matters. A capital expense is an expense that adds value to the current business. An expense is a capital expense when it’s used to purchase an asset that has

WITCE Wednesdays — Cash Flow Statements

It’s our third installment of WITCE Wednesdays and this week we’re going to talk about cashflow statements. I find cashflow statements to be the most confusing and complicated of the three key financial statements. Therefore I’m going to do my best to keep it simple. In the end, cashflow statements are to designed to provide insight into the “cash” moving in and out of the business. At first glance it’s easy to think we already

WITCE Wednesdays — The Balance Sheet

Last week on WITCE Wednesdays we went through the Profit and Loss Statement.  This week we’re going to tackle the balance sheet.  The balance sheet and the profit and loss statement go hand and hand and should be evaluated together. If you remember, the profit and loss statement shows the inflows (revenue) and the outflows (expenses) of a company over a fixed period of time, by month, by quarter, by year. A balance sheet on