From The Co-Founders


Tips, Tactics & Strategic Insights and Commentary
from The ROI Co-Founders, Pat Johnson and Dick Outcalt
Outcalt & Johnson: Retail Strategists LLC; Retail Turnaround Experts

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The Owner's Trifecta: What's Yours?

You may be one of the many retail owners who share our vision of why to own your own business: “Making money. Having fun. Doing good.”  

You see, we believe that Owners do not have to choose just one goal for defining "success" in their business. Goals do not have to be mutually exclusive; they can converge. Just like in a Venn diagram.

Here's a fun exercise. Make your own Venn diagram for your own business. Start now to make that convergence come to life.  

Don't like the three goals we've identified? No problem. Just pick some goals that matter to you. 

Step #1: Start with where you are right now:

  • Likely those three circles are not all the same size. Which one has taken priority, and is the largest?
  • How big are each of the other two circles? 
  • Do any of them overlap now?

Step #2: Do another Venn diagram for where you want to be.

  • What are your priorities for your goals? 
  • If they're about the same, the circles should be about the same size. 
  • If one of the goals is more important, make its circle larger. The relative size of the circles helps clarify how much more important. 
  • When they overlap, those differences in size will matter even more.

Nice to be able to see all of this as a picture, isn't it?

Now that you have that picture, the big question: what will it take to get that overlap to happen? 

Well, that is exactly why The Retail OWNERS Institute and its unique OWNERS Center have been built!  

  • All of our tools and resources have been developed to empower the owners of independent retail businesses to make the business work for them, too. Everything on The ROI site contributes to that goal.
  • From comparative financial benchmarks to explanatory training to retailer-friendly “what if…?” calculators for comparing potential outcomes, retail owners worldwide are being empowered to make more money for their business, themselves, and their households.

Start now. Take advantage of The ROI to make this the year to make the business really work for you. 

Meanwhile, we will continue to work on getting our Venn diagram to overlap. Hitting the trifecta is not easy, but is a worthwhile pursuit!

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