Helpful Tips To Manage Your Retail Business
Running a successful retail store is challenging. From hiring and guiding staff to managing inventory, controlling cash and costs and marketing your wares, this is demanding work. This article offers a series of links to related retail or relevant general management tips or articles. Use the tips in great retail management health!
Customers are the lifeblood of your retail business and everything from store design to staff training must center on pleasing the customer.
In this age of social media, good and bad experiences are shared widely, and you want the buzz to be all positive. Consider:
On Managing and Developing Your Team:
Your team is the face of your store to your customers. We have all experienced the rude or inattentive clerk in a nice store, and these encounters ruin the experience and practically guarantee lost customers for life. Focus on getting your team right and your team will take care of the customers. Relevant resources include:
- Train Your Supervisors
- Get Your People Involved
- Become a Better Listener
- You Have to Make a Difference.
- Don't Be A De-motivator
- New Employee Training: Is it Worth the Investment?
- Six Tips to Help You Prepare for Difficult Workplace Discussions
- How to Deliver Effective Positive Feedback in the Workplace
On Managing the Business:
From assessing and responding to competition to initiating and guiding improvement projects to managing and improving quality, a retail store manager's job is never done.
Use these tips to help strengthen your performance as a business manager.
- You Never Have to Make Up for a Good Start
- Gross Revenue Description and Key Issues
- Understanding the Bottom Line
General Management Topics You Should Understand:
We live in an exciting, fast-moving world where change and uncertainty are constant companions.
Effective managers work hard to develop as strategists and talent scouts. Here are some related articles that will stimulate ideas and get you thinking about your own role as a retail manager:
- The Basics of Management in an Era of Uncertainty
- How Great Strategists Think
- How to Become a Great Talent Scout for Your Team
- Developing as a Manager in an Era of Uncertainty
- Beware the High Costs of Chasing Too Many Ideas
The Bottom Line:
Competition from the Big Box stores, online retailers and the myriad of speciality shops is a fact of life in the world of retail management. The stores that will survive and thrive create unique experiences for their customers by hiring, developing and supporting great staff members. The managers of these stores think like strategists and execute on initiatives with the precision of great project managers. Armed with the passion to succeed and the management insights to navigate the challenges of people, teams, projects, customers, staff and competition, your odds of success increase tremendously.
Updated by Art Petty