If you could go back and tell yourself something what would it be?
For my small retail business I would tell myself:
Hire slow. Make sure you have at least two different interviews with people. See if they arrive on time. Test them on their knowledge. Make sure they dress properly. If they say they understand car stereo installations are you just taking them at their word? Come up with a test and make them take it on the spot.
Renegotiate everything all the time. Here’s my list:
- Visa Card Rates – Low, Mid and High Rates – Renegotiate these once a year
- Renegotiate your Lease with the Landlord.
- Land Line Commercial phone rates.
More Planing. I had a retail business that celebrated certain holidays like Christmas, Valentine’s and Mother’s Day. I was amazed at how fast time went by and when those holidays approached I really had not prepared as well as I should have. Coulda, shoulda woulda thoughts made me snap up and get out a calendar and plan 3 months ahead for those special times.
What was the result?
- I made more money.
- My staff understood what the promotions were very well and were able to explain them to customers.
- I was able to spend time decorating and putting up signs around the business to support the promotions.
- I was able to coordinate Google Pay-per-click ads and Facebook posts for promotion well in advance.
- I was able to subtly put an idea into a customers mind 2 months before a holiday so that they would come back and buy a package.