Saturday, April 2, 2022

How to stay focused as a retail business owner?.



Having plans in the initial state seems great. Those are plans. Most of the times you need a plan to execute to realize your goals. If you start a business you need to stay focused for a long time to maintain your business. To have a profitable business you need to focus on the long term. To be successful you need to be passionate about your buisness. There are dozens distractions on your path. You need to focus on making decisions, promotion, setting realistic goals, right tools such as software to maintain a business.

Make sometime free for meditation.

To calm your nerves you can set sometime apart for getting back and clearing your head by meditating daily. You will be busy the whole day with different tasks and with the profits on your mind. If you align your self with the cosmic engery and breathe in and breathe out to relief your self from stress then you can have a fresh start to focus on delegated tasks to work on. Find a place without any noise from passing cars or trucks. This meditation breaks will do wonders.

Make a list of goals to realize.

If you have plans to scale your business within next five years. Write down a plan how you are going to realize this. Are you going to scale your business through building more branches or taking a franchise?. Then consider the advantages and disadvantages about scaling through building a whole new branch of your own or taking a franchise. Be accountable and get the proper vision to keep your focus for the next five years or ten years. Making a list of goals will keep your focus on your gains.

Organize meetings to maintain accountability.

Gather all the heads of the departments once a month. Give them directions what need to be achieved for the next month. Discuss all the issues on the action plan and look at who made the proper progress. Look at issues what need more direction. Develop through trainings and consultings to get familiar with the new trends on the markets. Give all the departments the chance to grow and discuss goals monthly what you have written down to achieve last month. 

Go with your buisness from A to B.

Get the proper vision where your business now is. Determine if you are going to launch a new product to compete with another market segment competitors. If your business generates 100.000 usd per year now. Make a plan what you want to make progress on to make 150.000 usd per year within next 5 years. Write down what the pitfalls might be and what the advantges might be when issuses occur in your country. If you sell winter jackets. Then you can produce leather winter jackets in Pakistan and sell in the USA to keep the productions costs low.

Drive your self to get ahead of the competition.

We all know that Coca-Cola is the not only company which sells Vanilla or Cherry Coke. Pepsi Cola company sells the same Vanilla Coke and Cherry Coke for little less. To stay focused you need to drive your self to keep an eye open on the competition. First of all be realistic about how you are going to penetrate the market. You might need capital from outside or if you have your own capital then you can invest in new products to get a slice of the market's pie. 

Set up a time-table to have a productive day.

Try to aviod constantly multi-taksing. To stay focused on the delegated tasks you need to work task for task throughout the shift. If the heads of your deparments know what tasks need to be given to what workers. Then you can be productive. Setting a certain time for each tasks you can push your workers to reach targets. As we all know time is money. To make the most of the time you need to work with a schedule. 

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