True, the changes that are presently taking place are huge and sudden, but that just means that the measures to deal with them need to be well thought out and effective. Now, more than ever, it pays to not be buffeted about by circumstances but to take charge and grapple with the situation and the future with the help of the experts of change, the team of Management One® affiliates.

This situation promises to exist for years and as such, hunkering down to weather the storm won’t work.  You must take definitive action to position your store as the leader for the future.  For example, James Hallman has been sending out positive e-mails and ideas to his clients in addition to the challenges he presents to them at their monthly meetings to stay aggressive. A passage from one of James’s messages makes a poignant point:

“I know that, like me, you feel fortunate that none of our friends, neighbors and countrymen will ever be satisfied with a cave for shelter, an animal hide for clothing and a hunk of raw meat for food. As long as that is true — we will do business.”

Ed Cloeter (Detroit) also relays his years of experience and retail wisdom to his clients with continued messages. He recently relayed a tale to them that he recalled from when the country was undergoing a drastic economic downturn in the past:

A little fellow parked himself on a busy intersection and began selling hot dogs. Sales grew so he ordered more hot dogs and buns. The little man had a son who came home from college for a holiday break. The son was studying for his B.S. in Business. The bright lad saw all that his dad was ordering.

Astounded, he barked, ‘Dad, don’t you know how bad the economy is? You’d better cut back!’

The little old man hung his head and listened to his son. His son was, after all, echoing the gloom and doom of the day. The dad cut back his orders and, sure enough, sales dropped. Occasionally cars would stop but would pull away when they found there were no more hot dogs. The man scaled back more. Soon the man, the cart and the hot dog business were gone from the corner. The son was right.

It’s clear from the simple tale to see that faulty logic can lead to unacceptable conclusions. Instead of panic and retreat, business owners need to remember that there is still a market out there. Those who have the know-how to maintain the connection and the attraction to their business will be able to keep their heads above water. Your store, your customer and your situation may all change but you need the right strategy to succeed with the new dynamic!

The Management One® affiliation of consultants and clients has been sharing ideas and actions that have succeeded in overcoming the recent obstacles. In addition, M1 is armed with valuable knowledge of what is working through its giant network of hundreds of retail clients across the United States, Ireland, England and other countries. Information, motivation and accurate forecasts of the market are key elements to remain in today’s marketplace. Advantages available to M1 clients, such as Margin Buying Service, are a great help in providing an edge to success and even survival. For those who simply try to “ride out the storm”, there will be fallout and many carts and businesses may disappear from the corner.

What is your strategy? Remember — hope is not a strategy. Take control and take action! The strategy and subsequent tactics you employ today may mean the difference of whether you will survive this economic environment or be one of the casualties.

Discuss your situation with your Management One® affiliate. If you are not already a client, contact Management One® today for a no-obligation meeting with an affiliate in your area to see how your business can take action to survive and to thrive: www.management-one.com.