Category: Leadership

Patagonia Brings a New Answer

9/19/2022

In the free enterprise system, owners are free to succeed. And free to fail.

That's why The Retail Owners Institute has defined the #1 responsibility of the Owner as the survival of the business.

But then, the owner must define "Why?" Why are we doing this, anyway? Why are we working so hard for this business to survive and thrive?

There are many good answers. To be the biggest? The fastest growing? A way of life? Something to pass on to the next generation? To create wealth? To support a cause?
It all depends on the owner, and what she or he decides. Then, that answer must be communicated: to staff, customers, family, the community, competitors, everyone.

That brings us to an event that captured a great deal of attention in the business world last week.

Spoken Like a Retailer, But...

9/12/2022

It's back-to-school season!

We were struck by comments from folks for whom "back-to-school" is more than just a season.

Look what a state superintendent of public instruction* had to say about the upcoming school year.

"The sheer burnout of the last two years caught up with everybody."
"But out of that came a genuine assessment of what matters most."

Lots of retailers can identify with those comments, don't you agree?

Or, these observations about the disruptions and uncertainties of the pandemic:

Get Ready. A New, Upbeat Era is Coming!

8/29/2022

As the final third of the year approaches, there's a "new era" afoot. There is optimism in the air.

Optimism? Really?

Yes! And it could catch a lot of folks by surprise.

Consider these "early warning signs" of approaching good news:

Those surveys of "consumer attitudes" indicate that folks do reflect the news headlines regarding the economy – that is, respondents are pessimistic about "the economy." But when asked about their own financial situation, the responses were very positive; people feel good about their personal financial situation.

Making a List, Checking It Twice

8/15/2022

It doesn't make any difference if you're selling tires, turbans or tuxedoes.

Poor prior planning produces pitifully poor profits.
(You can take that to the bank!)

We came across an article on this checklist theme for the rapidly approaching fall/Holiday season.

Be Ready – New Kind of 4th of July Is Coming

6/13/2022

We think this may be a very different 4th of July Holiday weekend.

It will not be just about red, white & blue window displays, or flag waving, or fireworks displays. Instead, there is a new mood, a new attitude that is emerging.

First, we believe that all shoppers are reeling from being swamped by some major and concurrent attention-grabbing events and trends affecting all of us. Seemingly with no end in sight.

It's Not Just the Clocks That Changed...

3/28/2022

"Retail is a mirror of society."

Yes, Daylight Savings began a couple weeks ago. But it's not just the time on the clocks that changed; the times themselves have substantially changed.

Followers of The ROI has heard us assert many times that "Retail is a mirror of society." As we reflect on the first quarter of 2022, we are struck by how much has changed in just those three months. And retailers must adapt – yes, again! – to this rapidly changing environment.

Think about it. Consider the assumptions you made just a few months ago, in late December and early January about 2022.

Time for New Answers to Old Questions

1/10/2022

See the forest, not just the trees
Now that we've put a wrap on 2021, and before we really dive into 2022, it's time to catch your breath and reflect on where we are after 2021.

Perhaps like us you believe that fundamental and enduring changes have occurred; no one can operate on "auto-pilot" anymore. All of us have to learn new processes, and form new habits. What's it called? Oh yes; "embracing change." Lots of it.

That's why it is a very opportune time, particularly for owners, to have a very active Q&A session with themselves.

Find the Reasons to Celebrate

12/27/2021

As we get ready for the New Year, and the post-Holiday season slowdown settles in, here's a positive way for retailers to re-energize and re-focus their entire organization, whether one store or even a hundred.

We learned this from one of our clients with nearly 50 stores widely scattered over 6 states. Each day, without fail, they would take time for what they called the "Corporate Cheer."

You will see how it can be a fun addition to any retail business, no matter the size.

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