The World of Retail
Watch this quick video in which I talk about my experiences as a business coach for retail business owners. There are some unique challenges that come with building a retail business; A business that sells goods directly to consumers.
Retail is full of great opportunities and great challenges. I have coached and mentored business owners in many and varied retail operations from supermarkets and handbags to bicycles, candles and motor scooters. There is an art to getting a retail business to hum and the difference between a shop that works and one that doesn’t can seem quite mysterious at times. But most of the time there is no mystery at all. It’s all about discipline and consistency, and constantly asking yourself: What else do my customers want next?
“Roland has been an integral part of the success of QE Foodstores, for many years now and I trust will remain so for years to come.”
Does this sound like you?
As a business coach for retail business owners, these are some of the things I often hear owners of retail businesses say:
- “The major chains are always undercutting us”
- “People come in and use us as a show room and then they go an buy online (and sometimes even bring in the thing they bought online for us to fit or install for them)”
- “My staff just don’t care”
- “My suppliers treat me as a second class citizen compared to the major chains”
- “I’ve spent a fortune on marketing but I don’t think it’s paying off”
- “Wastage is what’s eating my margins”
- “Every time I find a new site, some major chain offers more money to the landlord than I can afford.”
- “Shoplifting costs me a lot of money.”
- “Centre management is just bleeding us”
- “I have to discount too much to turn my stock”
- “Staff come and go so much that it’s really hard to create an engaged company culture”
Running a retail business is challenging. The risks are large. Setting up a shop usually involves a significant investment, you generally have to sign up to a commercial lease for at least 3 years, that is guaranteed by your personal property, and if you set up shop in a major centre, the lease conditions can be onerous. Staff are often itinerant and difficult to engage and motivate, and in these days of instant internet shopping, it can be difficult to convince customers to buy from you rather than from Ebay. And yet, retail offers some wonderful opportunities, to build a great Fun Business that sustains you for years to come.
“In one session, Roland helps me translate a weeks worth of swirling ideas (than may not eventuate) into reality”
What you can expect:
How I’ll help you build a business that stands the test of time:
- Finding absolute clarity about the Purpose of your business and developing a comprehensive but practical business plan on that foundation; Know where you’re going and how you’re getting there.
- Developing and implementing an effective but simple marketing plan; Clients walk in the door, wanting to buy from you.
- Developing simple systems to engage and keep the brightest of your staff; Build a reliable and passionate team of people.
- Implementing better bookkeeping and retail POS systems; Your fingers on the pulse of all the key indicators of the health of your business, as opposed to keeping your fingers crossed.
- Strengthening sales skills throughout the business; Sales conversion rates double and triple.
- Implementing continuous improvement systems; Know your business is getting better and better all the time.
“Roland forced me to address the hard issues and in doing so, I have made changes which have saved me over $50,000 per year.
Five Steps to Discovery
If you recognise some of those statements above and you’d like to explore how I can help you as a business coach overcome some of those everyday struggles, click here to book in a free Discovery Coaching Session now as part of my Five Steps to Discovery Process, designed to help you discover and build your own Beautiful Business and Life.
More reading, books, surveys, webinars
- Take 5 minutes to complete my Free Is-Business-Coaching-Right-For-You-Quiz to help you decide if I am the right Business-Life Coach and Mentor for you at this stage of your business journey.
- Find out about my Five Steps to Discovery Process here.
- Do you know about the 7 Big Questions all business owners face when developing their business?
- What is Business-Life Coaching anyway and why would you care?
- Download my free books, White papers, Special Reports and webinars.
- Follow this link to read about all of my business coaching programs.
- More about the various forms of business support, guidance and advice that are available to small business owners here.