Raymond Joabar

For many multichannel merchants, maintaining a profitable business has become increasingly difficult in recent months. While attracting and retaining customers will always be vital to catalogers, today’s economy makes it crucial to have a solid understanding of financial planning and budgeting in order to achieve long-term success. Here are five tips for catalog/multichannel merchants on how to develop and improve budgeting and financing strategies to help weather a down economic climate. 1. Plan not to fail. According to the most recent Small Business Monitor, a semiannual survey of business owners conducted by American Express OPEN, uncertain economic conditions and the rising costs of doing