Have you noticed? That persisting Plague of Uncertainty that keeps hanging around?
And amidst all this relentless uncertainty, you still have a business to run, employees to motivate, customers to satisfy, vendors to deal with, creditors to pay, etc, etc.
Here are some ideas on how to approach that.
Let's take a closer look at what's involved.
Given those assumptions...
Be careful; don't dismiss your newly-imagined business too quickly. Embracing those changes can seem daunting.
But, you do have to give just as much constructive thought to whether now is the time to close down your operation. (See the "Ready to Move On?" section in the OWNERS Center for more.)
Here are three fundamental questions retailers need to answer in this new world of uncertainties:
If any of your answers are "No," start now to map out what could be next for you.
First, dispatch Door A: Business as It Was pre-covid.
Then, summon your optimism and your good judgment. Really consider both Door B and Door C.
In other words, take control and choose your own adventure!
It truly may be the opportunity of a lifetime!
Just when it seems we can get to the "New Normal" or the "Next Normal," another disruption comes along.
"There still is so much uncertainty" is the lament, often accompanied by a sigh of weariness. Or resignation. Trying to plan for the Holiday season, or looking ahead to 2022, can seem especially daunting right now.
Occasionally, all of our businesses need to hit "pause;" this is one of those times.
Recognize that thanks to the pandemics, most everything about running your business has changed. Your merchandise mix; your customers; your staff; your competitors; your suppliers; your landlord; your technology; etcetera. Everything!
"Buy low. Sell high. Collect early. Pay late."
That's the essence of retailing, right? But now, in the early summer of 2021, retailing more than ever demands a strong dose of good judgment.
It's shouted everywhere: "Look out! The inflation tsunami is coming!"
Yikes! It's buying season for many retailers, and the pressures to buy more, now, at these-low-prices-that-won't-last are mounting. And this is only the beginning.
That's a sign of the times, isn't it?
While retailers are more accustomed than most folks to cope with change, 2020's unrelenting flexibility tests have been a challenge. Forget about five years. Retailers have to be ready for the next five months! It's back-to-school and then Holiday.
The only certainty about the next five months is that they will probably feel like the past five months. Yet you still must run a retail business. And that means you still must buy and sell merchandise.
The opportunities – and the pressures – are mounting.
Consider this: Will this Holiday Season happen...
What a 90 days it will be!
Remember July and early August, when there was much optimism?
For retailers, the Fog of Uncertainty that began in April 2020 around the pandemics keeps coming back. Just when it appeared that we were ready to "get back to life" if not "back to normal," the Delta variant has surged.
This has created more uncertainty. How willing are your customers to actually go out and shop? Even more important (to you): how willing are YOUR customers to shop with YOU?
So, here's an idea: Why not ask them? Really. Send them a short questionnaire.*
Still less than $1 a day! 👀