Time to Get Back to Work – Part 3
by Sid Raisch
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This is a Challenge for 2020 to become Exceptionally Exceptional
Double GMROII of Perennials in 2020
This is a Challenge for 2020 to become Exceptionally Exceptional
Double GMROII of Perennials in 2020
“The time is ideal to create the outcome of the 2020’s.”
The decade is all but over, and there’s not much that can be done to end it any better than it is. The way we started on this journey back in 2010 didn’t inspire much hope beyond “recovery from the Great Recession”, and the “lucky” feeling of getting back to where we were seemed like all one could ask for.
In Part 1 we reviewed how we are now in a transition of sorts where in 2019, "Baby Boomers" are projected to start a slow decline in numbers over the coming ears and where "Millennials" are projected to have overtaken Boomers in the top spot as percentage of population. Let's explore this further together...
In 1963, President John F. Kennedy said, "Change is the law of life. And those who look only to the past or present are certain to miss the future."
Welcome to the official beginning of the “holiday season” as we look to bring a close to another year—both professionally and personally.
Thanksgiving is a time when we give thanks for the many blessings that have come our way...an opportunity to truly be GRATEFUL.
You came, you saw, you heard at the Fall Event 2019, then you went back to doing pretty much the same thing so far, didn’t you?
There is a difference between being “creative” and being “innovative” and often times they are confused. This week, we share John's ReFresh Calendar for the Month of October and discover how innovation is the key to longevity in business.
As some may know, I have a deep fondness for music and on occasion inject it into some of my presentations. As an example, the very first time the world heard the sound of a synthesizer was on the opening of “Baba O’Riley” by The Who. It was ground breaking, it was unique, it was curious and it was certainly one thing--Innovative.
COMMUNITY: The idea for this message has been developing in my mind over recent months. As I have talked with Retailers, both inside and outside The Group some observations have come together to support these ideas. I will share these observations in several segments in the coming weeks. Here's Part 1.
Earlier this year I received a call from a veteran garden retailer whom I have known and respected for a number of years. During the conversation, he talked about all the opportunities he had through the many years to meet and interact with fellow retailers at industry events and develop life-long relationships that have helped him be successful. He added that many of those events were no longer in existence today. He went on to tell me one of his sons was coming back into the business and he expressed his concern about how his son would develop business relationships, like he did. He went on to say he sees The Group as one of the very best opportunities today to network with fellow garden retailers, share great level of details, and build connections and relationships that could help his son to be successful.
You might remember my session on Blowing it Up! At Fall Event 17 in Houston. That was all about taking something you’re doing and making a bigger big deal of it so you maximize the benefit from your opportunity. The principle of Blow It Up! is to make whatever is working work better.
As I recall, I was sitting on a plane in 2005 when I first saw it. If a light bulb has ever gone off for me, it was in that moment. My seatmate looked at me in a funny sort of way since he couldn’t understand my excitement while reading a USA Today.
Twelve Weeks
The majority of a garden center's income happens in a 12-week period in spring. Exactly when the 12 weeks begin fluctuates of course, dependent upon location (climate zone) and seasonal weather breaks. The balance of the year the center is trying to hang onto the profit dollars by working on building income and keeping costs as low as possible.
I am writing this at or near the end of the spring season and certainly there is a place for specials and clearance sales at this time, but that is not what I am thinking about here. Instead, it is a general question.
Throughout the year, what is your center's image to your audience?
DANGER: Now that things are slowing down, you’ve got more time to do things you shouldn’t do in the first place. You don’t have time for that.
As the Fall Event approaches and we drive the theme of “Time”, I thought this month would be great to highlight a few hints, tips and strategies to make the best of your time…as well as the time of your customers (even more valuable!). Invest your time wisely but make sure not to waste your customer’s time in doing so.
You’re too busy NOT to read this, but you’re too busy to read it too. I get it.
Besides Revenues, what’s the most important ratio for a business selling a product? I’ll answer that one for you; it’s the COST of the product being sold.
This past week in the WDR, Steve Bailey spotlighted recent announcements by Sears Holdings they will shrink and streamline their produce offering in the coming months as they try to reorganize AGAIN. Steve's parallel here was a challenge to Group Centers to be vigilant about the products you are offering. He has recently told me he often sees centers getting lazy on controlling inventory (and turns) when sales are strong and times are good and therefore not maximizing their profitability.
An Italian proverb reads, “He that deceives me once, it's his fault, but if twice, it’s my fault.” The question from this is, are you dangerously close to death by marketing?
You might think the title of this article is a bit of a stretch when describing The Group’s 2018 Profit & Loss Study. I don’t. There’s nothing in our industry that even approaches the depth of information reporting centers receive.
Do you have a plan to break through your Invisible Ceiling this Spring?