03 Oct 10 Tips for a Better Retail Management
A successful retail store reflects good management skill of the retail manager. Just good quality oriented products and swanky showrooms aren’t enough for a store to be successful, but it’s the people or management behind which make it a success.
Here are some tips for a better retail management.
Measure everything
An effective retail manager must keep track of every single thing in the retail store and measure every aspect– sales output, employees’ performance, suppliers, footfalls, rate of customer conversion, accidents, awards, products’ performance, publicity, profit and loss. Always remember, it’s only appropriate data and its count which keep things under control. Such measurement helps retail manager to rectify mistakes and make better future decisions.
Go with the flow
Managers should be freed from specified set of rules, orders, and overcome stagnation. They do whatever the situation demands. They change, move or withdraw products, stores, employees, suppliers, interior, exterior, promotion as per the situation. They embrace changes. So, don’t remain rigid to your root and turn irrelevant in terms of market demand. If a product is not doing well since long, don’t hesitate to call it off the market or move it to some other place. Depend on business condition and situation, rather than on pre-set rules and regulations.
Processes should be perfect
Ideal retail management makes sure that the retail processes are perfect, with no loopholes. Inventory control, paperwork, security check, sales processing, merchandise control, display management – everything should be perfect. An efficient processing makes the entire operation smooth and hassle-free.
Keep expenses as low as possible
Keeping in mind emergency expenses an effective retail manager should keep retail expenses like – electricity cost, labor cost, stock expenses as low as possible.
Employ skilled people
An effective retail manager makes sure his work force is skilled enough and knows their jobs well. While choosing customer relation executives, special attention should be given. One skilled employee is much desired than five unskilled people.
Don’t forget the local community
It’s the local community where retail store is, and whom it’s meant for. Thus the retail manager should make the most of every opportunity to connect with the local community, become a part of their lives, do something good for them besides selling products and services to them. A socially responsible brand always draws in loyal customers and good image.
Tags: Awards Products, Better Future, Business Condition, Customer Conversion, Emergency Expenses, Footfalls, Good Management, Inventory Control, Long Don, Loopholes, Management Measure, Management Skill, Profit And Loss, Retail Management, Retail Manager, Security Check, Single Thing, Situation Demands, Stagnation, Successful Retail Store
26 Sep 10 Sharpen your Management Skill
Being an effective manager, a leader, a motivator isn’t an easy task. In day to day pressing deadlines and work pressure keeping up the managerial effectiveness gets difficult. But a good manager can’t afford to bend down. He has to get the work done by his teams, create a good work environment, inspire all, and keep up the work flow.
Here are some tips to keep up the great managerial skill.
Set goals, draw routes to achieve them
As a manager you should be aware of company’s mission, vision, values and goals. To achieve them set small job oriented goals, which are realistic, achievable, and measurable. Now develop a comprehensive plan, illustrating steps to be taken to achieve those goals. Allocate work to the concerned people, coordinate all. Keep track of the projects, progress status and problems faced. Prioritize projects too, marking them as per immediacy. Call for frequent staff meetings, keep the deadlines before them, provide them with the required information, make objectives clear, and clarify doubts. Be a constant support system to them.
Analyze employees, increase their productivity
Judge your employees. Analyze their skills, interests, goals, strengths, and weaknesses. Once you can analyze employees, assign relevant assignments to them; which match with their competence. Your concern towards them will keep them interested, involved and feel valued. Allocation of appropriate work will also maximize their productivity, enhance quality of performance, and make the entire work enjoyable. When employees find you care for them, they also work harder and are motivated to excel.
Provide necessary resources and support the employees
Provide your employees with all kind of support, in terms of information and tools required, resources required, environment for work, appraisal on completion with success, encouragement and moral support. You have to look after everything from stationary items to project submission. Improve work culture of the company. Make the work enjoyable, not burden.
Make the work place unbiased, adhering to equity and fairness
A good honest employee can never excel in a work place which is full of conflicts, biased towards few, doesn’t recognize talent and hard work, and encourages office politics. Treat all in equal way. Make sure all have equal access to information, tools, and resources. Interact with all in same manner, with due respect and care. Be consistent with your actions. Lend your ear to all.
Don’t forget to appreciate before all
Don’t forget to appreciate the ones who excel. A heartfelt appraisal will not only boost confidence, but also make the employees feel valued, recognized, and motivated. Cheer for him, praise him before all. It will also set an example for others to follow.
Tags: Doubts, Encouragement, Immediacy, Management Skill, Managerial Effectiveness, Managerial Skill, Mission Vision, Moral Support, Motivator, Necessary Resources, Oriented Goals, Progress Status, Set Goals, Skill Set, Staff Meetings, Strengths And Weaknesses, Vision Values, Work Culture, Work Environment, Work Flow
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