Helpful Tips To Manage Your Retail Business

Retail Team Reviewing Plans
GettyImages/Erik Isakson

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!

On Customers: 

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: 

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. 

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 thinking about your own role as a retail manager: 

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

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