Time to Get Back to Work – Part 3

by Sid Raisch

This is a Challenge for 2020 to become Exceptionally Exceptional

Double GMROII of Perennials in 2020

Are you already selling as many Perennials as you can? What would happen if you double your GMROII in Perennials?

“What you focus on grows.
Stop managing your time.
Start managing your focus.”
 ~ Marc Chernoff

Here’s why I chose Perennials for this project.

1. The opportunity in this category is significant enough to make a real difference in your overall results.
2. The things you learn and do in this challenge will have broader impact in other categories, and across your entire company.
3. Perennials are a “Pivotal Category”, meaning customers who buy perennials tend to buy more frequently than average, and more often than those who buy annuals.
4. It is enough to pay for you to take an additional vacation in 2020 if you achieve it during spring, or to reinvest in improvements to take it, and other categories even higher.

The range of possibility for growth is wide. If you’re already strong in Perennials, you might say you might be able to get another 5%. Come on now, your cost increase will probably cause that to happen. Would it change your thinking about this if you knew that others are already getting more than double the GMROII on Perennials?

The median GMROII for Perennials in The Group  2018 P&L Study is $11.25.
Double that would be $25.50.  The top 5 companies earn more than double the median at $47.62, $45.22, $32.95, $27.14, and $26.39. As a result of this challenge even they will improve and drive the 2020 median even higher.

Do these companies have advantages? Well of course they do, and that’s the point – develop advantages to get your company into their league. I’m not telling who they are so nobody can cut down the Tall Cornstalks  success and use it as an excuse why they can’t do better themselves.

Where to start? How about beginning with a “Profile of the Ideal for Doubling GMROII of Perennials in 2020”? In Part 2 of this series I gave you the outline for the Profile of the Ideal that you can adapt to this project or any other. I know you let that slip away, but if you’re going to take this opportunity seriously, you’ll need to go find that and put it to work.

You probably already know most of the things that should be done, and have somehow avoided doing them, or allowed others to avoid them. Are you in, or are you just going to sit there and hope someone else will do this and tell you what they did and what you need to do a year from now?

Profile of the Ideal:

Double GMROII of Perennials in 2020

3 Steps for Developing the Profile of the Ideal:

#1 – Develop Exceptional People Exceptionally
#2 – Develop Exceptional Processes
#3 – Promote Exceptional Products Exceptionally

Objective:
Double the GMROII of Perennials for The Garden Center Group P&L Study in 2020.

Vision:
Learn, Inspire, Equip, Empower and Enable our team to take appropriate actions to increase 2020 GMROII at least double that of the 2018 median of $11.52 to $23.04, or if it was higher to double that.

Steps to Accomplishment:

#1 – Develop Exceptional People Exceptionally
  a.    What?
  b.    What else?
  c.    What else?

#2 – Develop Exceptional Processes
  a.    What?
  b.    What else?
  c.    What else?

#3 – Promote Exceptional Products Exceptionally
  a.    What?
  b.    What else?
  c.    What else?

Committed to by: ____________________________