Posts Tagged 'retail management'



The Retail Management Workshop-London dates have changed

Because of air space closings, we had to change the dates of the London Retail Management Workshop.

New dates are: May 25-26-27, 2010 same location: Sheraton Park Tower.

22 Ways of Highly Successful Retail Managers

We wrote about the amazing success of a highly skilled retail manager early in 2008. Based on reader comments there were quite a few retail managers who were inspired by the story. And there were one or two who just didn’t believe it and they told us so in pretty harsh language. That’s unfortunate because the story is 100% true. It’s a story about a man who enjoyed a meteoric rise through the ranks of a prominent retail company under some pretty tough circumstances. (You can read the story here: http://www.dmsretail.com/$7to100K.htm)

Anyway, that story in addition to other success stories we know started us thinking about just what it was that made some retail managers wildly successful while others kind of languished in the retail industry; never really making anything extraordinary happen and never moving up to where they were proud of their retail management position; those who are unable to put their stamp, or mark, on their work and, perhaps most importantly, never really reach their earning potential.

And that’s where the idea for 22 Ways of Highly Successful Retail Managers came from. So it began…the research had to be done; the long, arduous task of drilling down through all of the details to uncover the ways of the highly successful, highly skilled retail manager. There were hours and hours of conversations about what worked and what didn’t; about trial and error; about the role that personality traits played in the success of these individuals; about the road blocks and challenges encountered along the way. We examined education, background, and ambition to mention just a few things.

Well, we finally got through it all and the results were enlightening. We found that there were many, many habits – or ways – these successful, highly skilled retail managers had in common. And the ways were so evident across the board that we just knew other retail managers would want to know what they were and how they, too, could cultivate these ways to become highly skilled and, thus, enjoy similar success.

A new Success Guide was born out of this study – 22 Ways of Highly Successful Retail Managers – and it’s amazing. Any retail manager who wants to excel in the retail industry and become a ‘go to’ person, due to his/her success, needs to read it.

Every so often a book comes along that really resonates with you; a book that you read with such intense interest that you don’t want to put it down. These books add value to your life because you actually take away something that can help you; something you suddenly realize that you have been waiting for, even though you didn’t necessarily know that you were waiting for it. But what a difference it makes. All at once you see through what’s been bothering you – even if it was just a little nagging doubt or thought about what you’re doing in your career. Well, 22 Ways of Highly Successful Retail Managers is that book.

It’s the book that you will carry around with you for easy reference. It’s the one that will be ‘dog eared’ due to constant use; the one that you will tell others about. You’ll take excerpts out of the book and post them on your bulletin board, or maybe even your bathroom mirror, to help you remember a particular piece that really hits home with you.

This is the book that you will use when you have moved from being not only a highly skilled and successful retail manager yourself but to a mentor of someone else who wants to become as good as you are.

Table of Contents:

A Highly Successful Retail Manager:

Way 1. Believes and practices exemplary Customer Service.

Way 2. Interviews with a purpose, hires for the cause and trains with a passion.

Way 3. Leads by example and presents as an admirable Role Model.

Way 4. Motivates and Coaches all day, every day.

Way 5. Manages his time, plans ahead and gears for success.

Way 6. Communicates well and often.

Way 7. Holds values like Honesty and Integrity as sacred; is above reproach.

Way 8. Is accessible, follows up and follows through with consistency.

Way 9. Manages performance when and where it happens.

Way 10. Mentors and develops people to promote from within.

Way 11. Manages with a praise and reward philosophy.

Way 12. Knows his customers and their needs.

Way 13. Manages Up, Sees the Bigger Picture, Has Influence.

Way 14. Shows Operational excellence.

Way 15. Always promotes growth and is forward thinking.

Way 16. Networks in and out of the workplace.

Way 17. Possesses an unparalleled energy, ambition and enthusiasm for his work.

Way 18. Develops a Flair for Visual Merchandising.

Way 19. Has a game plan for productive store visits.

Way 20. Works hard and gets results.

Way 21. Strives for Quality and Quantity.

Way 22. Excels in all areas of retail, takes action and is not afraid to get his hands dirty.

http://www.dmsretail.com/22ways.htm

DMSRetail Open House – Dubai, today

DMSRetail is holding an Open House for prominent Dubai Retailers today at the Sheraton Dubai Creek, 5PM. No doubt, conversation is going to include DMSretail’s 4 point formula to strengthen any retail operation during good and bad times. If you can make it we’ll see you there.

The Retail Training Equation

Economic times are cyclical. At present, the cycle is in a down phase and needs to recover as quickly as possible. During such times, it is people who will make the difference in your business. It is most often the people who have been trained appropriately that rise to meet and overcome these challenges. Industry specific training not only enables businesses to achieve fiscal prosperity; training of this nature will enable a person to think. Thinking critically and strategically and being adaptable to various business situations is where successes will be found in times such as these.

When a company employs staff members to interact with and sell to customers, would it not behoove that company to acquire, support and train those staff to be the very best in the industry? One of the most charismatic and captivating senior consultants with DMSRetail has always followed this philosophy when hiring, training and developing sales staff: hire the best, train them to be better, pay them more, expect more and get more. This works, regardless of the particular industry, geographic location or market sector.

Thinking about the importance of training and education in any industry, consider the following equation. If one were to apply a proportional weight to each component, what would your organization allocate to “Top-to-Bottom Training”?

Vision + Determination/Motivation to Succeed + Top-to-Bottom Training = Successful/Profitable Company

Of course, this is a dramatically simplified equation, which does not assume many of the intricate business challenges that are ever present, but it does capture the essence of achievement. Broken down slightly further and simplified to another level, the equation might be read as:

The Goal + Drive to Achieve that Goal + Capable Personnel to Implement the Action Plan = $$$$$

Remove any one element of the equation and the entire formula becomes void. How can a capable team of individuals with vast amounts of motivation achieve anything if they have no idea what it is they are to achieve (The Goal)? Similarly, what use is a spectacular goal and plan, if there is a deficit of trained, capable personnel to make it happen?

The truth about training is simple: trained personnel are absolutely critical to the survival and longevity of any retail operation.

Investing in training for the people that ‘make it happen’, so to speak, is absolutely invaluable. The “Vision” can be conjured by the executives. The “Determination/Motivation” can be aroused and fuelled by company leaders as well. The “Capable Personnel” need to be trained by experts with a passion for retail and a wealth of relevant experience.

One of the greatest success coaches of all time, Anthony Robbins, coined the acronym CANI; Consistent and Never-ending Improvement. This should apply to every area of your retail operation. The executives need to find ways to develop further their capacity for strategic, long term thinking to assure the continued growth and prosperity of the corporation. Mid-level management should consistently be pushing beyond their comfort zones with regard to customer service and sales tactics, motivational capabilities, operating efficiencies, etc…. The full and part time store personnel; these employees need to direct massive amounts of energy to improving their capabilities as the company’s front line players. Nothing will happen until something gets sold, and the in-store personnel are the people who sell; teach them well. Every way that improvement can be found and ratified, should be capitalized upon.

Take a minute to reflect on your own business practices, those of your company and those of your competition. Make a mental list of all the training practices that are present in your store, in your organization and in your competitors’ organizations. What does that list look like? Do you feel confident that you are doing everything within your power to separate you and your colleagues from the competition? How can improvements be made? What sort of activities and information might help? Who might be able to illuminate the resources necessary for this re-configuring of our company’s training initiatives?

DMSRetail specializes in researching the most detailed, leading edge market information available and maintaining consistency within their training seminars. These training sessions, as well as their library of training tools, have enabled countless companies throughout the world to achieve great success within their own unique markets. The DMSRetail Brand Consultants will customize any one of their training seminar series’ to suit the needs of your company and ensure that the competition is left questioning; “why have sales increased for them, and not for us?”

The retail training equation is only one aspect of the business which we all have invested ourselves in, but it is certainly an important aspect. Without proper training and effective tools to apply the new knowledge, you are no further ahead. Seek to improve, achieve improvement and success is certain to follow.

You can reach Erik Miethner at emiethner@dmsretail.com

DMSRetail announces their 2009 schedule for The Retail Management Workshop.

The economy has taken a downturn and the retail industry is being battered heavily. With news of store closures and reduction of headcount at Head Offices it is difficult to remain optimistic about the future.

But Matt Parmaks, EVP of DMSRetail says “remaining optimistic is the very least retailers have to do.” He goes on to say “Now is the time for retailers to examine their operation, very critically, and take steps to make certain that whatever they are offering to the customer is the very best it can be; they’ve got to insist on maximum performance and effectiveness from every one of their Managers and Associates.”

I’m sure most of us will agree that it is seldom we find employees in a retail store who show genuine care and concern for customers. And we don’t often find the kind of service we want and expect. Matt Parmaks says “This can easily be corrected with the proper training but, unfortunately, too many retailers don’t invest in their employees’ development as much as they should.”

The time has come to change all of the old ways. What we need is a whole new approach to our retail businesses. Only the strong will survive and prosper over the next few years and it’s up to the executive teams to lead a retail revolution inside their organization.

Matt Parmaks said “I strongly encourage retail executives to find out more about developing their people and to put the past practices behind them.” When asked to
explain what he meant by that, Mr. Parmaks said “Retail people need to be trained and developed and, up until now, there simply hasn’t been enough of that going on.”

Retailers are starting to buy in to the fact that they must do more about investing in their people. DMSRetail is seeing an increase in interest in their 3 day retail management training program – ‘The Retail Management Workshop’.

According to Mr. Parmaks, retailers who are forward thinking and growth oriented, and who utilize the newest techniques and methods are those who also realize the value of training in their industry. He says “Some retailers are able to adapt in difficult times and are even growing their retail businesses, and their management talent, and doing a very fine job of it.”

Below are the dates and locations for 2009 presentations of The Retail Management Workshop in North America, Europe, Middle East and Australia:

April 27-28-29, 2009 – Sheraton Jeddah, Jeddah, KSA
May 11-12-13, 2009 – Le Meridien, Barcelona, Spain
May 27-28-29, 2009 – Sheraton Chicago Northwest, Chicago, IL
June 9-10-11, 2009 – Istanbul Sheraton, Istanbul, Turkey
June 23-24-25, 2009 – Sheraton Prague, Prague, Czech Republic
July 7-8-9, 2009 – Sheraton Planet Hollywood, Las Vegas, NV
July 14-15-16, 2009 – Sheraton Dubai Creek, Dubai, UAE
August 5-6-7, 2009 – Crown Promenade Hotel, Melbourne, Australia
August 25-26-27, 2009 – Sheraton Waikiki, Honolulu, HI
September 1-2-3, 2009 – Sheraton Centre, Toronto, ON
September 15-16-17, 2009 – Sheraton Nevskij Palace, St. Petersburg, Russia
September 22-23-24, 2009 – Radisson SAS, Kiev, Ukraine
October 13-14-15, 2009 – Sheraton Centro Historico, Mexico City, Mexico
November 10-11-12, 2009 – Sheraton ITC Maratha, Mumbai, India

You can find more information on the website: http://www.dmsretail.com/retailtraining.htm

Free webinar from DMSRetail 22 Ways of Highly Skilled Retail Managers

I have the date and time for the webinar. It is going to be held on Tuesday, March 10/09 at 12:30 p.m. EST. The webinar is an hour long. Register (it’s free) using the link below:

https://www2.gotomeeting.com/register/588785876

Retail Management Workshop

We are working on new dates and locations for the Retail Management Workshop. So far we have decided on May 2009 – Barcelona, May 2009 – Chicago, June 2009 – Istanbul, June 2009 – Prague, and August 2009 – Melbourne.

We welcome your suggestions to include more locations and dates.

Pushing for Performance

The fiscal month is coming to a close. The store’s sales performance has been lackluster for several months but, this month, they are doing much better. This coming Saturday is the last day of the month. The Store Manager wants to take the day off to do something with family members. The District Manager says no. The Store Manager is very upset. What went wrong here? Did the District Manager do the right thing by forcing the Store Manager to cancel her plans with her family and, instead, work in her store and make the month?

In the particular case the Store Manager put in a huge effort and the store made the budget for the month. In fact, the budget was made by midday on Saturday and, as previously agreed, she was allowed to take the balance of the day off after budget was achieved. The Store Manager will earn a nice bonus and has finally got one really good month on her books. She should be happy and proud.

In the days leading up to the last day of the month the Store Manager made quite an argument against working that day. She stated that her staff could sell just as well as she could, that if customers didn’t come in to buy then they wouldn’t make budget anyway, if there was bad weather the store would be empty, it was not their fault that they were out of certain types of merchandise, that she couldn’t work every Saturday just to guarantee that the store made budget, etc. In effect, this Store Manager was saying that she did not make a difference to the success of her store. What’s with that?

The District Manager reasoned that, while it was understood that she needed time to do certain things with her family, this was the final day of the fiscal month. As it happened the store was very close to making budget for the month and the Store Manager could certainly use a good month after several bad ones. The DM told her that without her being in the store the company couldn’t really be sure that every single thing was done to ensure budget was achieved. On top of all of the really good reasons for her to be in the store driving the business, the Manager was going to make a nice bonus if they achieved budget.

Still, the Store Manager did not believe her presence was going to make a difference. The District Manager needs to take a good hard look at what went on in this situation. How could it possibly be that the Store Manager didn’t think she would make a difference? Why, then, is she there? And what does that say about the performance of the store in recent months? Has the Manager had this attitude for a while?

These things really make you think. At least, they should make you think.

The District Manager has said that there is absolutely no doubt that if she had not pushed for performance, it wouldn’t have happened. Hopefully, the Store Manager is excited and feeling a little more responsible for her results (good and bad) and that any damage done can be repaired. Also, hopefully, the Store Manager has learned a lot from this exercise and will grow from the experience. If not, well that Manager probably shouldn’t be there anyway.


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