The Retailer’s Ecosystem: Where To Spend Your Time and Focus Within Your Business | Episode 94

Show Notes:

What parts of our retail business should we focus on? When?
When a business owner comes to me for help, there is usually a part of their business that is a little out of balance in one area. As we evolve, so do parts of our business. 

Your business’s ecosystem can very much be compared to a fish tank. I’m serious!
You start with an idea of owning a little independent shop and you begin that journey.
Everything looks pretty and shiny just like your first fish tank – a little fish swimming happily in a cute bowl. We tend to do everything meticulously, but as our business (or our fish tanks) grow, balancing the ecosystem of what needs to happen to keep the business (and the fish) thriving has to evolve too. How’s that for a visual!? 

But what should you focus on in order to keep your business ecosystem healthy? This episode goes over four core categories to consider that need to be balanced as we grow: 

1. The Front of House – products, service, merchandising, team, etc.
2. You – your responsibilities, self-development, and your role as the CEO
3. The Business End – financial health, systems, and vision strategies
4. Marketing and Sales – the tools, strategy, and intentional planning for marketing, etc.
   

We must continue to keep litmus testing all the areas of our business – and keep the ecosystem in check so that we can thrive and grow in a healthy way with more ease. 

When was the last time you checked in on your retail ecosystem?

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A Quick Glance:

[0:22] Intro

[1:43] Your business is like a fish tank…seriously 

[6:48] The front of house

[8:33] You are the CEO

[11:42] Business systems and strategies (the numbers)

[13:37] Marketing plan and sales program

[15:57] Recap

[19:08] Action steps

[23:09] Closing remarks

Resources mentioned:

Episode 70 – You’re Not Just a Shopkeeper, You’re a Creative CEO
Episode 52 – Why a Culture of Accountability is Critical in Your Retail Business
Episode 25 – 3 Reasons Your Marketing Might Not be Working Well
Foot Traffic Made Simple
Retailer’s Inner Circle

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