WILL YOUR STORE SURVIVE THE RECESSION?
I read an editorial this week in Entrepreneur magazine that said you will hit whatever it is you are aiming at (or thinking about). That reminded me of a poem I saw in the classic book Think and Grow Rich. The poem is:
If you think you are beaten, you are.
If you think you dare not, you don't.
If you like to win, but think you can't,
It is almost certain you won't.
If you think you'll lose, you're lost,
For out of the world we find,
Success begins with a fellow's will -
It's all in the state of mind.
If you think you are outclassed, you are,
You've got to think high to rise,
You've got to be sure of yourself before
You can ever win a prize.
Life's battles don't always go
To the stronger or faster man,
But soon or late the man who wins
Is the man WHO THINKS HE CAN!
As I talk with retailers around the country, I hear too many negative comments! In order to not only survive the current economic conditions but come out ahead of your competition at the end of the recession, you must plan for it!
not letting negative press and headlines affect your ability to plan for more sales volume,
being upbeat in your store (since your staff will follow your lead),
continuously trying to come up with new ways to get old customers back into your store, and
continuously finding ways to win new customers.
If you find yourself starting to think negative thoughts, turn them off! It will be the stores whose owners thought they would not be able to survive who will end up going out of business. Because they are concerned only with surviving they will not be thinking of ways to bring in new business. While they are busy trying to continuously cut operating expenses the winners will be thinking of new ways to bring in business to increase their sales. I have never heard of a retail store being successful due to focusing on cutting expenses. While controlling expenses IS important, you can never cut them enough to make up for continuously falling sales!
Keep your eye on the prize!
Be the store that not only weathers the current recession but comes out stronger.
(By the way, if you need help with your planning, we can help. After all, it is a very rare retailer who has a retail store because he or she liked doing paperwork and working with spreadsheets.)