Company News • 10.08.2017

You are the reason why your store is not going well

Are you a store owner? You might be the reason why the business isn’t attaining higher levels

As a store owner, your freedom in changing processes is greater than, say, a store manager in a large chain store. But these opportunities also bring a greater responsibility. If the store is doing well, it is likely a product of you having done a good job. But if things are going badly, it might depend on this:

Supplier
Logo: StrongPoint

StrongPoint

Schießstrasse 35
40549 Düsseldorf
Germany
Photo: You are the reason why your store is not going well...
Source: StrongPoint

Bad time prioritisation

Cash handling is itself a thief of time, but the saviour for cash losses is something that also likely takes up much of your time. It is not unusual that your focus, as store owner, is to reduce losses, instead of spending time on streamlining cash handling. Do you not feel there is a problem with your current handling processes? You should probably look again – there’s always tweaks that can be made here and there!

Stuck in a rut

“We do things this way, and it’s worked for us so far.” Not wanting to change things by using the argument of “it has always worked well for us” is a sign that things could probably be going better for your business. What worked well when you started out is most likely not what works best today, or next year.

Let’s give you an example: Say that you’ve been doing the same thing for 15 years. Over those years you’ve spend 20 hours a week on administration and follow-up for cash handling, for example. The result? 15,600 hours (or just over one and a half years) that you could have used to raise your business to greater heights.

Goods flow over cash flow

Goods should be stacked on the shelves, be sold to customers before the expiration date and be refilled when they’re gone. You and your staff most likely spend a lot of time planning how to streamline the flow of goods in the store to never risk having empty shelves. But is this really the best way to prioritise your time? Think about whether an adjustment of your priorities can be the key to more efficient processes – and smoother logistics.

Advertisement

related articles:

popular articles:

Thumbnail: Photo: Global market study on gift cards

Research • 26.05.2017

Global market study on gift cards

According to Persistence Market Research's analysis, the gift card market in the APAC region is expected to witness a higher growth rate over the projected period.

Thumbnail: Photo: s.Oliver introduces digital signage store concept at the Ruhrpark...

Case study • 14.06.2017

s.Oliver introduces digital signage store concept at the Ruhrpark Shopping Center in Bochum

Digital Retail – Motivating customers with relevant buying incentives and increasing retail store productivity

Thumbnail: Photo: Duty Free: Get around new airline baggage restrictions...

News • 15.06.2017

Duty Free: Get around new airline baggage restrictions

Retailer Dutyfreeonboard.com delivers straight to travelers' homes or anywhere in the US and pay the duties for them.

Thumbnail: Photo: Old Hickory Mall launches pop up shop for local merchants...

News • 09.08.2017

Old Hickory Mall launches pop up shop for local merchants

Shop is available for rent on a weekly basis

Thumbnail: Photo: Scent marketing in retail creates a welcoming atmosphere...

Report • 02.05.2017

Scent marketing in retail creates a welcoming atmosphere

The use of scents at the POS increases attractiveness and customer loyalty

Thumbnail: Photo: First-ever marketplace for content studios

News • 03.07.2017

First-ever marketplace for content studios

IAB to showcase publishers’ powerful brand storytelling capabilities

Thumbnail: Photo: Patrizia Pepe celebrates opening with Umdasch Shopfitting...

Company News • 25.04.2017

Patrizia Pepe celebrates opening with Umdasch Shopfitting

Umdasch took care of the entire construction management

Thumbnail: Photo: Carrefour opens hypermarket store in São Paulo...

News • 07.08.2017

Carrefour opens hypermarket store in São Paulo

Bakery, Rotisserie and Butcher’s counters with gained glass walls, enabling to see the manufacture

Thumbnail: Photo: See it, feel it, get it: German consumers have no patience whilst...

Company News • 20.06.2017

See it, feel it, get it: German consumers have no patience whilst shopping

Mood Media Launches New Global Study “The State of Brick & Mortar: 2017” 11,000+ consumers surveyed

Thumbnail: Photo: 75 percent of British adults admit purchase decisions changed by rewards...

News • 04.08.2017

75 percent of British adults admit purchase decisions changed by rewards

Study finds point of sale decisions can be swayed by right incentive

Supplier

Mood Media GmbH
Mood Media GmbH
Wandalenweg 30
20097 Hamburg
StrongPoint
StrongPoint
Schießstrasse 35
40549 Düsseldorf