The Best Retail strategy for you

Here are four common mistakes that people make when it comes to putting in this great idea into practice their shop, that I have seen.

Mistake #1: Have a plan

What are you trying to do? It is a good idea to write down a few words like a school science project. List what you are trying to do? Why you are trying to do it? What you hope to accomplish? etc. Set up key goals and failure criteria.

A short note in the diary is often enough.

Mistake #2: No measuring (KPI)

So currently you have your goals, as you have a terrific point of sale system (ours), that has incredible flexibility is setting up reporting where you can do reports by department, location, time, supplier, etc. Set it up before. So set up some sort of measurement. Furthermore, try to get some before snapshots to compare. For example, if you are replacing a printer because its keeps breaking down and is slow. Note how many times does it break down and how slow is it?

Note your measuring does not have to be 100% accurate, in fact, some goals cannot be measured but even a vague measure is better than no measurement. As the Wikipedia said here.

"In practice, overseeing key performance indicators can prove expensive or difficult for organizations. Some indicators such as staff morale may be impossible to quantify. As such dubious KPIs can be adopted that can be used as a rough guide rather than a precise benchmark"

If you don't measure, then how do you know how you are doing?

Mistake #3: Do it!

Often people buy it but do not use it. I saw a few days ago, a perfectly good shelf sitting in the store room collecting dust as no-one had the time to put it up. Why did they buy it?

Mistake #4: Not having an exit strategy

The reality is that despite all our efforts and thoughts, a lot of ideas do not work. Ideas that you have such great hopes for just do not work. A common rule of the thumb is that in any new product line we can have two failures out of three as long as its not the first. That the idea can fail is a fact.
Make sure you have an out.