|
|
Like this article? PLEASE +1 it! |
|
Staying Current and Adjusting in the Retail Business
Written by: Scott KreisbergArticle Overview: In the not too long ago past there were three main sources of live news; TV, newspaper and the radio. This older format allowed people to either look at or not look at what was being presented by the media. Nowadays, there are countless sources of live news, thanks to the Internet. So, with so many sources of news, I select only the subject matter I am interested in and sources that I find to be accurate; hence "selectively". It is obvious that we are in an economic crisis, which is old news. But it wasn't old news back in September or October of 2008. I knew that the economy was being steered into a storm, like nothing I had ever seen before.
![]() |
Free Download - Retail Metrics: KPI’s – Stock to Sales Ratio By Scott Kreisberg |
Staying Current and Adjusting in the Retail Business
I don't know about you but I like to selectively stay current with the world around me. Notice that I qualified my statement with "selectively" which I'll explain.
In the not too long ago past there were three main sources of live news; TV, newspaper and the radio. This older format allowed people to either look at or not look at what was being presented by the media.
Nowadays, there are countless sources of live news, thanks to the Internet. So, with so many sources of news, I select only the subject matter I am interested in and sources that I find to be accurate; hence "selectively".
It is obvious that we are in an economic crisis, which is old news. But it wasn't old news back in September or October of 2008. I knew that the economy was being steered into a storm, like nothing I had ever seen before.
You know when the media jumps on the bandwagon and starts to send out a consistent message to the public, then they start talking about it, and then you know what? It happens!
I'm not saying there aren't hard factual reasons for our current economic situation, because there are. My point here is that people play a big role in what actually happens and how long it lasts.
By staying current with subject matter I found important, I knew there was going to be a big financial melt down and you know what I did? I took corrective actions to help prevent irreparable damage to my company early. And guess what? It worked!
My company has been fighting a good fight and we are not blaming the world for our problems. Instead we are figuring out ways to change who we are and what we do and how we do it so we can emerge from this current economic climate a much more current and relevant business for the next decade.
Has it been easy to adjust and keep the business afloat at the same time? HECK NO! But with good communication and lots of actual confronting of the situation, we have been successful despite all of the doom and gloom.
So, what is the moral of this story? Selectively monitor and read relevant and reliable news about areas which affect you and your business. Take corrective actions ahead of time so you are not in the middle of a bad storm and then wishing you took those extra steps when you had the chance.
Be ahead of the curve and don't wait for the actual problem to hit you, and be able to confront what is really going on around you and, if necessary, make difficult decisions to ensure your continued success.
I wish all of you much prosperity now and into the future.
Article Tags: bandwagon, consistent message, corrective actions, countless sources, current economic situation, doom and gloom, economic climate, economic crisis, economy, good fight, irreparable damage, live news, news tv, next decade, old news, radio, relevant business, subject matter
|
About the Author: Scott Kreisberg RSS for Scott's articles - Visit Scott's website Scott Kreisberg is a pioneer in being the first in selling point of sale software systems to retailers in the 80’s when they were still using cash registers, and first-handedly changed the face of retailing. His journey to shift retailer misconceptions about using a computer in their retail business and point of sale, was a long one and today Scott’s company, One Step Retail Solutions, has transcended the retail service industry becoming the leading retail technology service provider in the U.S. Scott has watched the economy hit 3 major slumps and a vast majority of his clients survived those economic downturns. Now, he’s taking his clients through the next economic disaster. Scott is also host of Internet TV series, "Smart Retail" on the Internet channel http://smartretail.tv. Click here to visit Scott's website Increasing Your Sales with No Out of Pocket Tough Times Demand Tighter Retail Security A Retail Holiday Tale Retail Matrix Part II Why Some Retailers Are Doing Better Than Others In The Current Retail Environment |
Related Forum Posts
Share this article with your friends. Fund someone's dream.
Leave a comment below or share on the left and you'll help support entrepreneurs in Africa through our partnership with Kiva. Over $50,000 raised and counting - Please keep sharing! Learn more.
Get advice & tips from famous business
owners, new articles by entrepreneur
experts, my latest website updates, &
special sneak peaks at what's to come!
Email us your ideas on how to make our
website more valuable! Thank you Sharon
from Toronto Salsa Lessons / Classes for
your suggestions to make the newsletter
look like the website and profile younger
entrepreneurs like Jennifer Lopez.



