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18 October 2010

Oh yes you can!

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Mar David Newton

David Newton of DND Services has some tips for successfully running your business...

In a recent blog, kbbreview editor Andrew Davies asked why anyone would want to be a KBB retailer?And so I asked myself, why do we do it? Before answering that, let's look at some simple psychology.

In his Hierarchy of Needs, Abraham Maslow says that the first reason we do anything is to ensure our personal survival. We then look at the next two levels, which deal with relationships, security for our family, food on the table and a roof over the head.

Only then do we look to begin to enjoy what we do, seek the respect of others, improve our self-esteem, achieve, etc. It's the last thing that typically leads us to open retail premises. But retail is not for the faint-hearted. It is rarely the first choice when starting any form of business.

Retailers-to-be usually first enjoy some form of success in their chosen field and see retail as the 'vehicle' for furthering their ambitions. Unfortunately, most people entering retail have no understanding of the factors that constitute a successful retail enterprise.

What most retail business owners fail to appreciate is that retail requires multiple skills and a different approach. You may be an ace designer or installer, but without top-level people skills, a critical eye for marketing and an inbuilt desire to continually evolve, you cannot enjoy retail growth and long-term success.

The old mantra "change is the only constant in business" is as pertinent today as it ever was and if you cannot or are unwilling to embrace change, then you are doomed to join the ranks of the 'hard-done-bys'.

Most of us lose sight of the driving forces that led us to enter retail. Most of the time, we are swiftly overwhelmed by the fact that we had no idea we needed to know A or B and C as well as keeping up with our specialism. We never seem to surface for long enough to draw breath and are gradually sucked under. And finally, because we are invariably out of control, we typically blame others for the way we feel.

Is there a way to begin to enjoy again what we do? I think there is, but it needs a bit of internal reflection.

List what you do in a month - advertising, accounting, project management, sales, business admin. Put these tasks in the order of those you like most (normally the things you are good at), through to those you hate most (normally the things you are rubbish at).  Allocate your time to each of these. Add up all the times. Once you have a number, consider outsourcing your bottom two (least favourite) tasks.

People will say "I can't afford it". That is utter tosh. What you really cannot afford to do is waste time by not achieving. By outsourcing those tasks, you will immediately be in a better frame of mind and devote more time to things you can do well. These achievements then reinforce your feelings of pride.

It's a racing certainty that if we begin to enjoy doing what we do, our custom will return. It's a fact that customers only want to deal with people who are positive.