Archive for the ‘motivation’ Category

Happy New Year ! Happy New Strategies

Saturday, January 15th, 2011

colourful-hatsWell hello 2011,

So, however 2010 turned out for you, now that the tinsel is packed away, and the fridge is full of green healthy food, its time to turn our attention to 2011. As Einstein (or Franklin, depending on who you believe) wrote, “if you keep doing the same thing, you’ll keep getting the same result “ he also put some insanity in the answer, but it’s the new year, so we’re going to keep things a bit more positive here.

So the big question is what are you going to do this year to get a different result ?

Well firstly, start from the assumption that you’re probably the worlds worst boss ? Yes, you ! Even if you’re not self-employed, your boss is you. You manage your thoughts, your responses, your to do list and your career success. So, have you been doing a good job ?

There are few good books on being a good manager. Fewer still on managing yourself. But in these tumultuous times, it’s hard to think of a more essential skillset to learn, or a more essential person to invest in !

Looking back even 10 years, retailing was easy. There wasn’t too much competition, people actually came into town then, (they also had some money here and there) as long as you put up a sign, and had some stock, you were pretty much guaranteed to make some money, but it’s just not that easy anymore. Now, you need to be an accountant, a stylist, a merchandiser, you need to have strong leadership skills, be an astute buyer and negotiator, technologically proficient and with a penchant for hard work.

Now, along with the skill mix of a chameleon, you also need to be communicating your vision, marketing like crazy and in constant communication with your customers and potential customers, using all methods open to you, that’s facebook, twitter and blogging (among other things)

If anyone out there is thinking to themselves – I seem to be working harder and harder and doing more and more for less and less, then you are not crazy, that is indeed what is going on here.
Time management and personal effectiveness has been sideswiped by new media. In a world where we can all be plugged in all of the time, the old principles for success are getting a beating.
But if small business owners and entrepreneurs started businesses to have more time with their family, and enjoy the time here on planet earth, so how come we’re all blogging, tweeting and liking peoples facebook pages all day and night, how do we get back on track with our goals?

Since we all have the same time allotted to us, its got to be down to how we use it … makes logical sense huh ? So what can we do about it?

Well, the nice, simple answer is to stop. Focus some attention on these time management principles and re-adjust.

Stephen Covey, in his best selling book, the 7 habits of highly effective people, stated the importance of putting first things first. ie, plan, prioritise and complete your weekly to do list based on importance rather than urgency !

Pareto’s principle (aka the 80/20 rule)is widely quoted, but not so widely applied. Its a generalisation, of course, but the point is that only a couple of the tasks on your to do list are really going to make a difference to your business…. and you know which ones they are !

Meanwhile, Parkinson’s Law states that “a task will swell in perceived importance and complexity in relation to the time allotted for its completion”
So, the lesson here is that good enough is often good enoug ! It doesn’t have to be perfect – use the time you free up on not achieving perfection to do something that’ll really help your business.

So with all the free time you’re going to have with your new effective ways of working, here’s a couple of thoughts to swill around for 2011….

Most businesses look like other businesses,( it makes it easy for our brains to categorise them), so one coffee shop for example looks pretty much like another, but here’s the contraditiction - You can’t stand out if you fit in!

So therefore the decision about which part of your business isn’t going to fit in is probably the most important and innovative one you can make !

The A-Z of successful retail !

Monday, October 25th, 2010

the A to Z of retail

the A to Z of retail

The face of retail has changed so much over the past few years. So I’ve come up with my own A to Z for successful independent retailing.

A is for Advertising: Whether you consider it an enhanced form of communication or merely manipulation, most of us consider it necessary for our businesses. In fact, I could write a whole article just on advertising come to think of it…

B is for Budgets: I’m on safer ground here. If you don’t have a budget then you might get a nasty shock. This happens when you haven’t done your sums right, and it turns out that all your profit is tied up in your stock room !

C is for Credit: Be nice to your suppliers and you can negotiate favourable credit terms.

D is for Define your niche: Ok, so I’ve pulled that one a bit, but if you don’t define your niche you can end up chasing any opportunity that presents itself, which often results in a mismatch of styles, stock and confused customers.
E is for Employees: Sooner or later you’re going to have some. Start off with contracts and write everything down – this will save you a lot of heartache.

F is for fashion: Also known as trends. It is the cyclical law of nature that as things go up, they come down. Fashion reinvents itself each and every season. While giftware doesn’t follow quite so rapidly, it can still become obsolete, so read magazines, visit tradeshows and generally do anything else that can keep you up to date with what’s going on in your market.

G is for Gift Vouchers: A fabulous way for happy customers to let family and friends know what they’d like from your store.

H is for Happy face: There’s nothing worse than a miserable face behind the counter. Be pleasant and make sure that your staff are. Why not employ a mystery shopper to independently grade your service. Remember that most people leave a business because they just don’t feel valued or recognised.

I is for Infectious enthusiasm: Yours specifically ! To lead a team you must be enthusiastic. If you have no team and its just you and the customers then you still need to be enthusiastic (see previous letter)

J is for Just looking: You’re going to hear that a lot ! Rather than asking the age old dumb question – “Do you need any help?” Perhaps you could instead ask a better question – such as, for example – Have you seen our new collection of X….? At the very least you won’t get the just looking answer.

K is for keyword search: In our technological age, make sure your store comes up under your chosen keywords.

L is for Loss prevention: People will try to steal from you – Don’t make it easy. Look for blind spots and instill good security habits as a key part of your staff training.

M is for Marketing : Marketing is anything and everything you do to promote your business.

N is for Newsletter: A great tool for communicating with your customers, reminding them that you’re still there, that you have new stock in and putting a more human face on your business.

O is for Operations Manual: You’ll definitely need one of these as soon as you have your first employee, you’ll notice that they don’t do things like you do…! That’s why you need the operations manual – it says how things should be done, in which order, when and by who.

P is for Price: The all important question, how much to charge? My tuppence worth is that someone will always undercut you, so unless you are a pound shop, it’s worth defining other areas as the USP for your business – service, stock, knowledge, design for example.

Q is for Quest: Q is a hard one ! I chose Quest because I see it as a positive word, a go getting word. Quest implies striving, searching and constant improvement.

R is for Relationships: With your suppliers, your staff, the local council, the local media, and the wine bottle when its not going so good ! Invest some time and make them as good as possible (with the exception of the wine bottle!)

S is for Sales: Selling is a combination of art and science. Time invested in studying the psychology of selling is never wasted. Remember to sell benefits, not products, and always answer the oldest question “What’s in it for me?”

T is for Technology: You can’t avoid it. So you might as well take a few courses and work out what tasks you need technology to do for you.

U is for Uniform: Are you going to have one or are you confident that everyone else shares your good taste and style ?

V is for vision: Think about it, articulate it, print it and make a bit deal about it !

X is for Xtra: Ok, I stretched that one a bit. But every self employed person I know does more than a bit extra. Extra hours, extra jobs, extra learning, extra training. you get the idea.

Y is for You: the one that generates the vision, the standards and delivers on it !

Z is for Zero Tolerance: To anything that falls below standard, it’s so easy to slide as standards slip imperceptibly, but standards are what set businesses apart

Trying to work something out ?

Tuesday, July 21st, 2009

What's the missing piece...?

What's the missing piece...?

I don’t know if you’ve been watching the recent spate of recession busting retail programmes that have hit the TV channels recently? They range from Sainsbury’s wondering how to do it better, to Mary’s upping the game for charity retailing (and taking some stick for it, although she did a great job !) undercover boss, and now onto Gerry’s big decision….

The last one is my favourite because it deals with family businesses, the kind that most of us run, and they’re fraught with all kinds of problems that bigger or more devolved businesses don’t face, partly because there’s not so much emotion involved in being employed in someone else’s business, or at least that’s how it appears to me.

Gerry deals pretty much exclusively with family businesses, and as far as I can tell he’s looking for strong leadership, or at least the potential for it. But the programme does seem to discount the work of the founders in making award winning pastries, beers or holidays – this seems to get glossed over in favour of sales, sales and more sales…. Don’t get me wrong, I don’t think any business would turn down more sales its just that the passion for the product is what creates the business. The sales follow on from that….

Which brings me to my next musing…. How do you keep the passion ? How do you keep learning so that your business stays interesting ? How do you keep from going slightly bonkers when the sales go down?

It seems to me that the best way would be to swap businesses for a day with another business owner – because its always easier to see the “faults” or should we say opportunities for development in other businesses than it is in your own….

It’s a radical idea, and maybe a bit uncomfortable, but how about if instead of swapping businesses, you just swapped knowledge ? Maybe you have sales skills that you could teach your neighbour who has marketing or accounting skills?

As long as you agree the boundaries before you start – play nice, no abuse and no hard feelings…. It could work, and you’ll certainly get a fresh perspective on your business, maybe it’ll show you the missing piece of the puzzle… and for free !