The results are in. Deputy surveyed hundreds of retail owners and managers with this question: “What is your #1 tip you would give a peer when growing a mature business of 2+ years (e.g. tip to grow revenue or keep a business from going stale)?
“As business grows you may spend more time working on your business than in your business. Still schedule some time to touch base with your daily customers on the sales floor. Listen to what your customers needs are. What are they looking for? Find that something special and get your staff excited about it when you do.” -Teri-Jo Collina, Partner, G Facey Clothing (a 25 year business)
“Customer service and retention will grow your business in a meaningful and loyal manner.” -Erica Cullum, Division Partner – Integrations, MONQ (a 3 year business)
“Listen to your customers they will tell you what they want.” -Vincent F Grillo, President,
Carlsbad Ranch Market (a 30 year business)
“Be innovative and take risks. Don’t just do business make it an extension of who you and your employees are. Put people in authority who can delegate that extension with pride and professionalism. Keep up with the times and learn how to implement new practices and technology into your business model.” -Neil Sinclair, CEO, Smokehead Shop (a 13 year business)
“Reward your employees, reward your customers.” –Michael Caruso, Store Manager, The Apothecarium (a 6 year business)
“Train staff well.” -Carl Wilson, Manager, Shoe Solutions (a 10 year business)
“Order small with 2 on shelf (1 to go, 1 to show).” -Steve Males, Owner, Noah’s Ark Pets & Supplies (an 18 year business)
“Identify the 20% of your business that generates 80% of your income and focus on that.” -Matt Megyesi, Owner/Manager, Mutiny Information Cafe (a 4 year business)
“Invest back in as much as possible to see growth.” -Zaira Basanez, Owner, Ganado Feed (an 8 year business)
“Automate basic tasks to free up time.” –Bryant Trujillo, Administrator, Frigid North Co. (a 38 year business)
“Always keep looking for ways to do everything better. Keep researching new ways to streamline processes, and find ways to be noticed on social media and your website.” -Brandi P McGuyer, Owner, GRL Boutique (a 3 year business)
“Keep inventory flexible with sales trends.” -Todd Lawson, Owner, Guitarsaur (a 12 year business)
“Social media is the key to continued growth.” –Spenser Guay, Manager, FATFACE (a 30 year business)
“Keep adding new products/experiences.” -Boiana Georgieva, Owner, Newport Sea Foam Trading (a 4 year business)
“Always kick it up with something fresh a new sale or new hot item to bring into the store.”
-Alexis Guerrero, Manager, Beyond Vape (a 3 year business)
“Fresh merchandise. Mix it up in the store as well as keep up with trending merchandise.” – Christina Jones, President, Chrimar Enterprises LLC (a 7.5 year business)
“Keep everything FRESH.” -Bryan Fallwell, Owner, Billingsgate Retail MKT (a 110 year business)
“Keep an open mind at all times and your eyes open for new opportunities to grow, pivot, and collaborate. Don’t be afraid to try new things – not everything will be a massive success, but you can’t find that success without failure – as cliche as that sounds.” -Carli Strauss, Owner, Montrose + George General Store (a 3 year business)
“Visit other like businesses to get an idea of your competition and don’t be afraid to steal their good ideas and learn from their failures. Also, use data, don’t just follow your gut.” -Terri Moore, Owner, Talbot’s Cyclery (a 45 year business)
“Try to do something different and be good at it. Don’t spread yourself too thin.” -Devin Thomas, Co-Owner, Thomas Sewing Center (a 38 year business)
“Never settle for good enough, constantly strive to make your business better in any way that you can.” -Reba Martin, Bookkeeper, Springs Road Gun Club, (a 10 year business)
“Change to keep things interesting. Embrace and enforce policy and procedures.” –Maks Siko, President, Columbia Motors (a 4 year business)
“Learn to delegate well.” -Alejandro Benavides, Consultant, Bok Beauty (a 17 year business)
“Figure out what makes you different and enhance that.” –Teresa O’Day, Owner, Proper (a 7 year business)
Do you have any additional tips that weren’t mentioned? We’d love if you could share them in the comments section.
Stay tuned for part 3 of this blog: Top Tools Real Retail Leaders Share That Their Business Can’t Live Without. And check out part 1 of this blog: 30 Tips Real Managers Share for Opening a Successful Retail Store
About the Survey:
This survey was commissioned and administered by Deputy™ via an online survey (through survey software Typeform) to North American businesses with hourly employees. The survey was sent to businesses ranging from 3 to 1,455 employees and ran from June 22nd, 2017 to July 7th, 2017. Responses were segmented by industry.
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