strategies for retail survival

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

! Subscribe good work ethic. Many come from

Subscribe to and participate in farm backgrounds where they had management systems improvement responsibilities but require training in programs that focus on improving people skills, high-tech computers, profitability through the moderniza- communications, customer service tion and updating of the present ways and selling principles. business is done. programs include

$ 1tin"rra" management aids. liltgi.!,1]i:

- Reuiew individual company acrivi- newsletters, progress charts, business ties from a cost and benefit basis. and economic facts

-9,11:"{5^: T:l- ol", tt" cost produce positive prof- niques, and specializ"o tolt]: 9:I:1:f itJt" u"n"nts? rf not, make changes. ment in such areas as: communica- tion, problem solving. leadership.

5 Sales development decision making, interpersonal reli- 'Ihree times a year, send out by tions, productiviiy improvement. etc. direct mail a friendly, "letter-type"

I snop the competition .

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By making regular visits to local r11 competitors una o--ut of town retailers, [l continually innovate you can see how your operation ^ Don't keep displays in the store itacks up. forever-change them frequently to

$ virit-t""oe shows

;*x":i:'manasement is alert to new

"r"tifLliTffi ;:'lt-:,itti#J# ll p"customersensitive plish. Make it exciting for customers to g neaa trade magazines i1?j":',tJJj,tjX"ilj ilffi';,8jti,l

Trade magazines are often distrib- such as seminars, "how-to', clinics, uted at a nominal charge or free to company tours, etc., inviting special qualified members of the industry and student groups, interior decorators, contain much useful industry and architects, local city officials, media management information. personnel (radio, tv, newspaper), etc.

One mistake in larger companies is lrD , obtaining only one .; ;;;;j;;: l-y' Develop vour people , .'; " ;;5''"' Focus on training, especially the tracn Key oecrslon-maKer snoulo nave ._._:._ his own copy. When *;^"r'il';;i; principles of selling and what selling ; l--.".-.';.' means. Selling means that after oepanmenr neaos aDout speclllc anlcles that would perrai;;;;;;il, |:::p""tive customers make a buving ,,* "-" ":,^^: decision. they leave with the satisfacmany Ilmes tney wouto answer tnat ^i_ rhe magazine hadn't ;;';;;;ffi :].?: "f knowing thev have made a themyet.wtsechoice'Thiscanbedoneby 7 ,"u" advantage or your rabor [:TH:tlJi"#r"ll"iJ.ffi;':]Tr: 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.