J.D. Associates Retail POS Solutions Blog

Retail in a Down Economy - A Labor of Love

  

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What's different about your business?

Unless you have something to offer that's totally unique, you probably won't find potential customers banging your doors down, and you certainly won't retain any existing customers. It can be a refreshing and profitable experience to review your business and stop playing victim to an economy that will probably not be dramatically different any time soon. You can start by asking yourself some questions you may not have thought about for some time.

1. Why am I in retail? What possessed you to take the leap into the sometimes perilous waters of retail? Have your reasons for choosing the retail profession changed? If so, why are you still in retail?
2. Do I consider myself a successful retailer? As you look back at your retail experience, make a list of what you have accomplished. Then make a list of what you would like to accomplish moving forward.
3. What's unique about my store(s)? Could it be that you offer superior service? Could it be you have product that can't be found elsewhere including online? Could it be that you have the best prices this side of the Mississippi? Could it be that you are perceived as a nice guy who people want to see stay in business? When you figure out what makes you unique, do more of it.
4. Do I think beyond "out of the box"? Everybody talks about "thinking out of the box." In today's retail environment, you need think beyond "out of the box." Challenge yourself and your staff to come up with new ideas. Talk to your customers. They may think of something you haven't thought of. Read industry articles about other successful retailers. Someone else's unique ideas may work for you.
5. Do I shop my competition? What are they doing right and what are they doing wrong? You can't know unless you go.

To help stimulate constructive and creative thinking, J.D. Associates is sponsoring a full-day symposium titled "You Can Compete." This symposium will feature several retail experts, including Bob Phibbs,The Retail Doctor, who will share some remarkable ideas on how retailers can prosper in unremarkable times. For more information, click on the You Can Compete graphic below.

This is a great opportunity to bring key staff to learn new ideas, get motivated and go back to the store and make positive, lasting changes that will impact your business in a positive way.

Take the time, take the day. Take control.

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ABOUT THE AUTHOR: Don Capman is President and co-owner of J.D. Associates, one of the largest distributors of retail point of sale software in North America. With Retail Pro, Retail-1, Microsoft RMS and QuickBooks Point of Sale in the company portfolio, J.D. Associates offers retail POS software solutions for specialty retailers. He can be reached at don.capman@jdapos.com