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FREE Retail Management Newsletter "RetailWise"

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RetailWise

Vol. 7 Issue 1

RetailWise

75 Ways to Build a Performance Culture Worth Millions (Part I)

Did you ever wonder how some retailers manage to build a superb performance culture within a retail organization? You know, that culture that makes people outperform all others; the culture that inspires everyone and turns average employees into Super Heroes?

 

Would you like to know how to do it in your organization? Here you go…75 Ways to build a performance culture that can be worth millions in sales!

 

1. Decide what performance means in your organization

2. Write it down

3. Never stop communicating that message

4. Check for understanding at all levels

5. Be consistent in expectations

6. Decide who is forming or building the culture and make sure that person is highly visible

7. Appoint Cultural Ambassadors

8. Set the standards of performance

9. Write them down

10. Never stop communicating the standards

11. Know your numbers

12. Speak to the numbers every chance you get

13. Never speak about anything being more important than the numbers

14. Walk the talk…always

15. Be reasonable but always have high expectations

16. Never let a good deed go unnoticed

17. Never let a bad deed go unnoticed

18. Don’t mess around trying to fix things that aren’t broken

19. Always strive to improve processes

20. Performance must be measurable in every area of the company

21. Ensure understanding of performance standards at all levels

22. Publish, post and communicate all performance standards

23.   Provide incentives for individual performance

24. Provide incentives for team performance

25. Hire performance oriented individuals – ask this – tell me how your performance has been measured and viewed in the past and how  would your level of performance benefit this company (Difficult to answer but you’ll find out a lot – remain silent) Stay tuned for Part II

 

 

News

 

US Retail sales should rise 2.5% this year (over 2009), trade group predicted, signalling that the chain stores have made it through the worst of the downturn. This is the lowest increase since 1995.

Benetton sees a 2009 profit of $166.8M.

Wal-Mart Re-organizes, strikes a $2B deal with apparel supplier Li & Fung

Best Practice: Add-on Sales

Don't stop presenting add-ons until your customer says STOP. Whether it be verbal, meaning that they say the word STOP, or through body language, your customer will let you know when they are no longer receptive to add-ons. Don't make that decision for them.

Complimentary "Retail Answers" Webinar

Recently we have invited our customers and friends to forward their retail related questions to us. We decided to answer the questions on a complimentary webinar, instead of on our blog.

As we are an international company,to accommodate time zone differences, we are offering 2 sessions. Click the one that suits you:

Session 1: February 16, 2010 - 10:00AM EST

Session 2: February 16, 2010 - 7:00PM EST

for time zone conversions go to: worldtime.org

Retail Management Training




 
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