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Over the past month RPM Power User workshops were held throughout the country. In addition to showcasing the high-value features within RPM, the sessions also reinforced the philosophies which are being successfully employed by high-performing retailers. For those of you who did attend, this will be a useful refresher. If you couldn’t make it, you will get a flavour for what was covered and we hope to see you and your staff at the 2010 workshops.
John Saywell,
Managing Director, RPM Retail Ltd
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How interesting would a sports game be to play (or watch) if no one was keeping score? The same applies to your retail business. To create an environment where your team feel engaged and strive to be champions, a scoreboard with Key Performance Indicators (KPIs) is vital.
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The 80/20 (or Pareto) Rule applies in many aspects of life and especially your retail business. Perhaps the most compelling example (backed up by our data) is that 80% of your sales come from just 20% of your products.
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| Use Specialists in your team |
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It might seem like a great idea to have a team who can fill any business role as required. But the personalities, backgrounds and expectations of your staff make this more of a dream than a reality.
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If the large majority of people think something is right it probably is. Of course there are exceptions like Y2K and the election of George W. Bush, but this theory can be used to great effect in your business.
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High performing retailers are never satisfied. They are always striving to make their business perform at a higher level. The S.M.A.R.T. model of goal setting is often employed by those who are serious about reaching their goals. S.M.A.R.T. goals make for smarter organisations.
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DISCLAIMER:
The author reserves the right not to be responsible for the topicality,
correctness, completeness or quality of the information provided. Liability
claims regarding damage caused by the use of any information provided, including any kind of
information which is incomplete or incorrect, will therefore be rejected.
COPYRIGHT:
Feel free to publish or reproduce the trend information found in this newsletter
and on our website, on the condition that RPM is properly credited (and linked
to) as the source, including the URL www.rpmretail.com
If you're a journalist working on a related article, email john.saywell@rpmretail.com for additional quotes and insights.
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CONTACT DETAILS:
RPM Retail Ltd., Level 2, 205 Manchester St, Christchurch, New Zealand
Phone : +64 3 377 7619 Fax: +64 3 377 7618
Web: www.rpmretail.com Email address: info@rpmretail.com |
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