Member-only story
Running a retail business is a distinctive flavor of entrepreneurship. You’re developing a unique brand, but you’re also juggling vendors and all the logistics — plus, managing a team. All that in a high-competition industry where each day can bring new challenges.
I’ll be honest: that can be rough on your mindset. You may have heard the statistic that on average, 1 retailer fails every 12 minutes. Perhaps that worry keeps you up at night. Perhaps you’re even putting your dreams of opening your own store on hold.
The truth is, most retail failures aren’t due to a lack of revenue. They’re ultimately caused by procedural issues or poor management. And even if your business survives, you deserve more than that. You deserve it to thrive!
Here’s a concept that can help. It’s about building a different sort of value: retail WEALTH rather than mere wealth. Let’s break it down…
W is for Winning
There will be days when your gains are down. That’s just the nature of retail. But success ultimately comes from your ability to create wins. That can include the winning customer experience you create and the KPIs you set for your store. I’m all about celebrating your achievements — and looking for new opportunities to grow.
