I just fired up an old laptop to retrieve a document. This was a list of topics I planned to write about, and I thought it would be instructive to review the list. I had searched through all my current folders several times when it occurred to me that it was created a while ago and it might me on the … Read More
This is the first in a series of posts on what I like to refer to as Retail DNA. This is a new category and something I will write on from time to time. Some owners of retail businesses seem to have a sixth sense when it comes to running their business. They approach things differently. They don’t need to … Read More
Here is a business anaylsis excercise that can make your company better. In sports, leagues are always changing the rules. This is done with the intent of making the league better. When these changes are viewed at an individual team level it is good for some teams and maybe not good for others. The team management has to asses the rule changes … Read More
It is important in business to know what your competition is doing and anticipate how it might affect your business. A key strategy is to Zag when everyone else is Zigging. Here is one of my favorite examples. In clothing retail, most businesses concentrate on their change rooms as a vulnerable point with respect to theft. To minimize theft they … Read More
Here is an incident that illustrates the importance of finding out what a potential customer needs before you offer your “best selling point.” On a fine sunny Sunday afternoon we were touring a parade of homes. Each builder was showcasing what they felt was a great example of their craftsmanship and expertise. In each home we were greeted by a … Read More