Six Months Left to Hit Our Business Goals
Today is officially the first day of summer, and it's also nearly mid-year, which makes it the perfect time to review the business goals you set at the beginning of the year, reevaluate your procedures, and see how close you are to meeting those goals, knowing you still have enough time to ramp up efforts if you’re falling behind or increase whatever you’re doing that’s helping increase sales.
Start by running sales reporters by category and have those handy to reference. Then review what’s working and what needs improving. Even if you can’t tackle everything you need to improve, making a few things a priority can reap you great rewards before the end year.
What needs to be fixed?
Below are 10 things most retailers want to improve either because they’re not focusing on these things or because they want to get better at them.
Rank the 10 items from 1 to 10, with 1 being the highest and 10 being the lowest priority. Then take your top 3 and focus on those for the next 6 months. You don’t need to abandon the remaining 7, but by focusing on just 3 for now, you can commit to doing your best job on those three and worry about another 3 come start of the new year. The reality is we can’t tackle everything at once unless we're able to delegate to staff. If that’s the case, great, but if not, now is not the time to mulit-task. Choose wisely and focus, and you’ll see better results faster than trying to do everything at once.
• Sales/revenue growth
• Dealing with broken/damaged merchandise
• Difficult vendors and/or customers
• Marketing efforts
• Social media
• Staff (over-staffed/under-staffed)
• Employee training
• Technology and equipment
Rather than constantly focusing on the things that need work, let’s take stock of what’s already working well and figure out ways to further improve on them. Take a moment to scan your business, from your books to your entryway and merchandise offerings and see what you’re most proud of accomplishing these first six months.
Maybe you have a stellar employee who is really good at scheduling or on the sales floor, or you have a gift for merchandising but the accounting part of the business stumps you. Is there any way you can barter your talents with another business owner who has the skill sets you need to improve your business? For example, can you spend a few hours a month at another person’s shop doing displays if they’re willing to do the books for yours once a month?
Alternatively, are you noticing you’re seeing success using a new social media platform, so much so that it might be worth your investment to hire someone to be more active on it regularly?
The end of this month is the official halfway point of the year if your business runs on a traditional calendar year, which means we have six months left to make this our best year ever! Create a one-month, three-month, and six-month goal checklist and do something every day to help you hit those immediate and stretch goals.
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