Retailers fall out of love with their retail businesses. It happens. We have been working with retailers since 1981 and have seen this situation over the years.
The indicators that a retailer may have fallen out of love with their business, based on our experience, could be:
- Lack of care about accurate business data.
- Lack of change in the business.
- Poor operational processes.
- Not embracing time and money saving opportunities in the business.
- Lack of price in the business.
Retailers and retail employees do fall out of love with their businesses. We have seen it affect individual and business performance.
If you are a retail business owner or manager, how you feel about the business is vital to your success. You set the tone of the business for others. As a leader, it is your job to ensure that everyone connected with the business, employees, suppliers and customers, enjoys the experience. You cannot fake your leadership role.
The first step in addressing the situation is to understand why. What has changed for you of the business to bring on this situation? Why do you think you are no longer in love with your business? Often, once you find the answer to that question, you will see a path forward for resolving the situation.
Here are some practical tips and suggestions on how to fall in love with your retail business all over:
Clean the house. Clean up the business. De-clutter the store. From the front window to the counter to the body of the shop. Tidy up the back room or office. Create a fresh sales counter and shopping experience. This alone can reawaken good feelings about the business.
Streamline. Look carefully at your business processes. Get rid of unnecessary, boring and depressing work where you can. This is where Tower Systems can help. We can review how you use our Point of Sale software and help you eliminate time wasting and demotivating practices. Over the years it is possible that the business has drifted from our training and that employees have not kept up with our current advice and training. We can help you get back to efficient use of the software.
Take some time off. Get out of the business for a few days and do things which are completely disconnected from the business. While this can be challenging, give it a go and recharge your batteries.
Start at the beginning. Revisit your initial business plan. Look at any photos from the early days. Talk to your longest serving employees and your long term suppliers. What you are looking for from these connections is an understanding of your hopes and dreams from back in those early days. There may be something there, in the history, which connects with you and brings you back to where you need to be today.
Share responsibility. It may be that you have taken on too much for yourself. Share the load. Invite others in the business to step up. This could ease your load to concentrate on what you care more about in the business.
Connect with your customers. Customers are the lifeblood of any retail store. It may be that you have become disconnected from your customers. reconnect, spend more time on the shop floor. Talk with your customers and listen to their stores.
Set a goal, write a business plan for this year. Dream some new dreams and set new goals. Encode these goals in a formal business plan. Set targets which you can measure with your Point of Sale software, delegate responsibilities. Bring structure to the pursuit of your goals and use your Tower software to measure the performance of the business and those who work in it.
We have seen retail businesses turn around when retailers and their managers break free from out of date and time consuming practices and focus attention on smarter methods of operation. This is where we can help retailers fall in love with their business again.
Recognising falling out of love with your retail business is the first step to recovering your feelings and with them the future of the business. With so many people relying on the business, it is vital that you, as a leader of the business, sort out where you stand and reconnect with the business in an emotional and valuable way.
Tower Systems is not your average software company. Long after the software is installed, we help our customers make better use of the software, improve processes and unlock additional value from their investment with us.