Can you answer yes to any of these questions?:
- Are you in the retail business?
- Are you waiting for the good-old-days to come back in terms of the economy and retail sales?
- Do you want the world to change back to the way it was before the recession?
If so, I have good news.
The good news is: You can stop waiting!
Those days are never coming back.
Sorry.
So you have no choice but to do the following:
- Double the amount of value you deliver through your service
- Halve the number of products (and services) you offer so it’s obvious you are a specialist in your chosen area
- Choose a single target market and declare that you are actively excluding everyone else
- Double your prices to signal to your customers (and competitors) that the improvements you just made with #1, #2, #3 position you as the best in your category
For each of the retail business on the following list, think about how you’d apply these actions to each one:
- A music store
- A sports foot wear store
- A jeweller
- A cafe
- A restaurant
2 things for you to do in the comments below:
- Either add your retail business below and we’ll analyse it for you
- Or analyse a business on the list add your notes below