Tuesday, October 14, 2014

Detaching is crucial for small business owners

Especially in retail, small business owners make very long hours, each week. During daytime and part of the evening they are open to serve customers and when the shop is closed they have to do the admin, ordering and replenishing the stock.

They are in this routine, 6 days per week. That is quite challenging, physical as well as mental. The risk is that they have no time and energy left to scan and research the market. The only newness they bring are new products, which they got delivered from their distribution channel.

This means that they might be up for a big surprise, and it is likely not a nice surprise. E.g. a retailer of organic foods might be very satisfied with a steady growth in sales. What they are missing is that the large supermarkets are also very aware of this trend. These supermarkets are thus adding much more organic products to their collection. And that means that the niche retailers for organic products are loosing more market share than they initially had.

It is therefor crucial to set weekly one hour aside to look into the future, to scan the market and to consider innovation on all kind of levels. If you are not detaching from the daily grind, you might be in for a nasty surprise.

Are you detaching regularly?

Enthusiasm drives Excellence!

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