IF I HAD A RETAIL STORE IN 2008… (I wrote this November
2007. Imagine that):
I’d PLAN as if 2008 was going to really suck.
I’d make it the year to run spreadsheets/POS Programs and re-order
fast sellers every Monday.
I’d have all sales staff learn T-O’s (Turn Overs) and no customer
walks without 1st talking to the owner.
I’d not penalize the sales staff if the owner helped.
I’d stick away as much money as possible during the month, keeping in
mind we have to pay vendors.
If someone wants a deal, I’d already have red-tagged ANYTHING over a
year old. if they wanted a deal, those would be discounted. I’d raise
CASH.
I’d save $10,000 (turn into cash) and start buying off the street and
advertising it after January 1st.
I’d get into custom design. Even if done badly, its better than doing
it correctly but seldom.
December 1st I’d turn EVERYONE onto a strong commission system and
keep it that way.
During December, if don’t have one now, I’d get a line of credit
opened from my bank or get a home line of credit opened for credit.
I’d get my POS program and if not done now, gather birthday’s and
anniversaries for everyone and send $50 gift cards each month for the
same.
After Christmas not keep anyone not pulling their weight. If we need
the position, I’d hire someone new. No one skirts for free.
I’d keep a cheerful outlook always but I’d plan this coming year as
if there’s no reason to.
That would be my plan. if you’ve ever said “I’m going to do these
things” but never do. Time to get off your big behind.
Respectfully submitted (in Nov 2007),
David Geller
JewelerProfit