Tuesday, March 3, 2015

Think and Grow a Rich Retail Business

Retail Small Business Operation     Use the principles of the Book "Think and Grow Rich" to build a strong professional retail company.

     So you have a somewhat successful retail store, or maybe not.  How do you grow a successful Retail business?  What am I doing wrong?

      It may not be your business that needs to change.  It might just be you that needs to grow.  Think of your retail store as your child.  You can spend thousands of dollars raising a child.  But if you don't feed them the right food, teach them right from wrong, and how to do things for themselves, they will rely on you to do everything.  

    It may be time to train your employees to take control of the day to day business. If your retail store can't run without you, your haven't done your job well enough to let go of the reins.  No matter how successful your business is, you will never have the time to open a second and third store. 

   There is a huge advantage to managing more than one retail store location.  If for any unforeseen reason something happens, fire, flood, or just low customer traffic, your not out of business. If one location fails the whole company shouldn't fail. There should always be a back up plan.  Everyone always thinks bigger is better.   I'd rather have 5 small retail stores that can work on their own, than one big one that relies on me for every decision.  

   This is why every retail business no matter how small in order to grow, you have to think and act like a large retail corporation.   Think And Grow a Rich Retail Business.  Each of your stores should run exactly the same.  Same merchandise, same point of sale systems, same procedures, etc.  This way if there's a problem, a sick call, someone from another one of your stores can be sent to fill in, and knows exactly what to do.  This leaves you free to do other things like buying, hiring, supervising and growing a rich retail business.  
Retail Giant Walmart
   Think you can't and you won't.   Think you can do it and you just might be the next Sam Walton (founder of Walmart).

Think and Grow Rich is a state of mind.  Be positive and never give up!  You've made the first step by looking for help.  Set your goals high.  Don't be discouraged if you don't hit your goals the first try.  It just may mean your on the wrong path.  Just change the plan, never the goal, never give up.

Read both of these books.  The first is "Think and Grow Rich"  the other "Sam Walton Made in America".  They will set you on a path to success.

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