Re-Inventing Retail

From the Co-Founders of The Retail Owners Institute.
Tips | Tactics | Insights on the Business of Retailing.

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Considering a multi-store launch?

Opening additional locations? 

Testing a new retail concept?

Launching a robust e-commerce site?

Any one of these approaches to growth requires that you develop your plans, explore real estate or web hosting opportunities, evaluate systems, identify mid-management talent, line up financing, and so on.

But wait! Before you get too far down the road on any of these areas, you first must decide: What is your fundamental growth strategy? That is, HOW do you want to grow?

Why must you know that?

First, because your growth strategy and your tactics must align!

Second (and maybe most important): you must consider how much change each growth mode requires of your organization.

Take a look at this chart. See how there are only two major drivers of growth? (The merchandise you sell; the customers to whom you sell it.)

When combined, they produce the Four (Only!) Ways Retailers Grow. 

Moreover, each of these Four Ways involves more or less fundamental change (from zero fundamental changes to two major changes).

Why does that matter? Because change = "stress". Even "good change" involves added stress. All of your resources - financial capital, and especially human capital – will be impacted.

See more of this thoughtful analysis and the implications of each mode of growth here: The Four (Only!) Ways That Retail Businesses Grow. It's a quick read, and potentially very empowering!

Take advantage of this insightful and practical perspective on one of an Owner's fundamental responsibilities. Available exclusively at The ROI.

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About The Co-Founders

Pat Johnson and Dick Outcalt, The Co-Founders of The Retail Owners Institute®, have been called "The Zen masters of retail finance!"

Since 1999, they have been assembling  their proprietary content into a unique self-help website. The Retail Owners Institute is an unmatched resource that assists retailers worldwide with basic financial training, assistance and easy-to-use tools.

Their engaging and empowering how-to resources about the financial levers in retailing are informative, fun(!), and retailer-friendly. Their promise: "Everyone will 'get it'!"

Pat and Dick are recognized experts in strategic retailing. Working only as a team – Outcalt & Johnson: Retail Strategists, LLC – they have been consulting, publishing, and speaking professionally throughout North America since 1990.

They focus exclusively on retail, or wherever retail is involved. They work with CEOs, CFOs, boards and owners of retail operations, as well as manufacturers or wholesalers expanding into retail. And they also are Retail Turnaround Experts.

Since 1999, empowering retailers and store owners to "Turn on your financial headlights!"