for retail survival

By Laddie F. Hutar, MBA, CMC Certified Management Consultant Hutar Growth Management Institute Glenview, Il.

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Subscribe to and participate in management systems improvement programs that focus on improving profitability through the modernization and updating of the present ways business is done. Programs include management aids, assignments, newsletters, progress charts, business and economic facts and trends, techniques, and specialized skills development in such areas as: communication, problem solving, leadership, decision making, interpersonal relations, productivity improvement, etc.

I Snop the competition

By making regular visits to local competitors and out of town retailers, you can see how your operation stacks up.

$ virit trade shows

Attend shows using a pre-planned checklist of what you want to accomplish.

$ neaO trade magazines

Trade magazines are often distributed at a nominal charge or free to qualified members of the industry and contain much useful industry and management information.

good work ethic. Many come from farm backgrounds where they had responsibilities but require training in people skills, high-tech computers, communications, customer service and selling principles.

$ Fin"rr""

Review individual company activities from a cost and benefit basis. Does the cost produce positive profitable benefits? If not, make changes.

$ s"t"r development

Three times a year, send out by direct mail a friendly, "letter-type" piece of sales literature featuring specials and timely seasonal products.

lO Continoally innovate

Don't keep displays in the store forever-change them frequently to show that management is alert to new products.

ll n" customer sensitive

Make it exciting for customers to shop at your place of business. Offer value, selection and special events, such as seminars, "how-to" clinics, company tours, etc., inviting special student groups, interior decorators, architects, local city officials, media personnel (radio, tv, newspaper), etc.

One mistake in larger companies is ltD , obtaining onry one ";;;;;;;: fZ 3:::t""tJ::j*"^pt:

Each key decision-maker should have ^,:::f^ "^X lllills-:tf""l-"t^'1,,::: his own copy. when we asked certain nYl'tt"ol,i:l':lili:l::-ttlliq departmeni'heads about specific arti- :::"t' cles thar wourd pertai","',i"i' *l*, many times they would answer tha; means tnal maoe a themyet'wisechoice..l-hrscanbedoneby reassuring them and by mentioning f Take advantage of your labor the benefits, such as durability, style market and value. Satisfied customers are the Generally in rural and semi-rural best source for additional business areas, the available labor force has a and referrals. the magazine hadn't been routed to