If you do a Google search on how to grow a retail business, you’ll find numerous strategies, thoughts, and tactics. However, there are really only three fundamental ways to grow your store. Once you understand this concept you’ll be able to make more thoughtful decisions on what ideas to implement to achieve the best results.
In this episode of Real Retail TV, we’re going to explore why the numbers don’t matter! When I say that the numbers don’t matter, I don’t mean that in a literal sense. What I’m suggesting is emotionally detaching yourself from the numbers.
When you learn how to strategically price your merchandise, big things happen! Even minor adjustments can have a significant impact on your overall profitability. In this episode of Real Retail TV, you’ll discover the three timeless rules for profitable retail pricing that we teach in the Assortment Planning module of the Retail Mastery System.
As an independent retailer, it’s easy to get stuck in the habit of thinking small. I get it, you’re busy and there is no shortage of small tasks that need to be completed every day. But it’s so important to take a step back and carve out time to work ON your business instead of in your business. You never know what great idea from an event, book, podcast, etc. could have a profound impact on the success of your store. I like to think of it as the lifetime value of an idea.
The most successful retailers have a wide range of promotions and events throughout the year to attract customers to their stores. It’s not always necessary to offer discounts; there are many other types of promotions that can be effective without lowering prices. In this episode of Real Retail TV, I will discuss the five different types of promotions that every retailer should be aware of in order to keep their calendars full.
As an independent retailer, being savvy about maintaining, and increasing your margins is a critical part of running your business. In this episode, you’ll discover four strategies to make more money by significantly increasing your margins.
There’s no doubt that finding and hiring great people has become more difficult over the past few years. That’s why it is so important to try new and creative approaches when it comes to recruiting. In this episode of Real Retail TV, I’ll share one of my favorite hiring tactics that has been proven to work time and time again.
If you struggle with getting your team members to do what you want them to do, this episode of Real Retail TV is for you. A non-negotiable standard is defined as a standard to which everybody adheres to in exchange for their paycheck. Once you set a handful of standards and enforce them, it will naturally become a part of your store culture.
Sometimes running a retail store is a lot like kissing frogs to find your prince. Whether it’s your team members, lawyer, or accountant, it’s important to take the time to find the best fit for the job.
Lately I have been thinking about the idea of practicing gratitude like a verb. It’s easy to become frustrated by customers that come into your store just to look or team members that aren’t doing exactly what you’d like them to do, but what if you changed your mindset to gratitude?
