| There are too many retail stores with very short life. | | | | potential energy in your business idea into profitable |
| For the retail stores that have very short life, there are | | | | business. Plan all things that you must perform. If you |
| many reasons. But, one reason that is most usual is a | | | | want to succeed you must have a quality business |
| lack of the customers. Without customers, you will | | | | plan that will help you in the better decision making. |
| have a bad cash flow and cannot cover the basic | | | | 3. Study your industry. You must know the main local, |
| costs for the business. | | | | national and global players in the industry. What |
| Reasons for lack of customers | | | | products are most wanted products. This study will |
| Before we go with 10 practical sales improvement | | | | give you the basic guidelines for the future of your |
| steps, I would like shortly to present some reasons | | | | business. |
| about the lack of buyers: | | | | 4. Study your current and potential customers. This |
| | | | study must be about their needs, habits and behaviors |
| 1. Poor market research. Without appropriate market | | | | when buying. When you know them you can offer |
| research, you cannot have knowledge about your | | | | something that they needed and will continue to buy |
| customers, their needs, their habits and their ways of | | | | from you. You must remember that you exist because |
| money spending. Because of that you cannot know | | | | of them, and they not exist because of you. |
| how to sell to them, and probably you cannot satisfy | | | | 5. Continually study your cash flow. Without enough |
| their needs. | | | | cash your business may to go into disaster. Spend as |
| 2. Inappropriate selection of location. If you don't make | | | | much as you allow your cash flow. Try always to |
| analysis of your location where you want to start your | | | | have enough money on your account. Your business |
| retail store then probably will be happened that you | | | | can make a profit but also to fail because of |
| don't have enough traffic after opening and in that | | | | insufficient cash. |
| way you will have less people who will remark your | | | | 6. Build and continually improve your image. Image |
| store. | | | | present that your customers have in their brain about |
| 3. Insufficient promotion. If you don't choose the right | | | | you and your business. Your image is created through |
| promotional tolls the customers will not know that exist | | | | your product, logo, promotional materials, the way of |
| something like your store. If you don't attract their | | | | doing selling, prices, location outlook... Good image will |
| attention, they will continue with the previously habits of | | | | bring you more customers. |
| buying from your competitors. | | | | 7. Select the right price system. Prices present |
| 4. You don't understand your industry. You cannot sell | | | | combination of art and science. They rely on the |
| something that you don't know. Some people have | | | | products that you sell, your image and services that |
| knowledge about fashion and that people will be an | | | | you perform. But, you must remember that prices |
| excellent retailer for clothing. Another has excellent | | | | must cover all expenses and to bring profit to you. |
| knowledge about car industry, and they can be | | | | Competitiveness is not measuring only with price. |
| excellent sellers for car spare parts. If you don't have | | | | There are too much small businesses that closes their |
| knowledge about your industry you cannot choose the | | | | doors because of wrong price system that they |
| right products, and you cannot recommend the right | | | | implement. |
| products to the customers. In this way, you will have | | | | 8. Control your inventory. You must build a system for |
| insufficient buyers, and also your money will be | | | | inventory control that will enable inventory with a |
| invested into products that cannot be sold. | | | | minimal or optimal level. Inventory means lower cash. If |
| These are some basic but most important reasons | | | | you have a higher inventory level you probably will |
| about a lack of buyers not only in retail stores but in | | | | have problems with cash flow. |
| every business. | | | | 9. Use each opportunity to promote. Good promotion is |
| 10 Improvement Steps | | | | not only ad on radio or TV. Everywhere you go |
| The basic steps that can improve selling and also | | | | promote your business through giving your business |
| business potential energy are: | | | | cards, promotional material, brochures, flyers... Talk with |
| | | | people about your business and your offers. All of |
| 1. Analyze yourself. Starting a new business is not only | | | | these activities will bring more and more customers. |
| sitting in the store and selling. Do you prepare for such | | | | 10. Ask for help when you think that you need it. Too |
| an undertaking? Do you have sufficient knowledge | | | | many activities are depending only on you. It |
| about financing, marketing, planning, selling, supplying, | | | | sometimes is better to spend some money for |
| inventory and other things? Are you prepared to | | | | someone who will help you with consultancy advices |
| disclaim from your current habits? You must answer | | | | rather than sit and watch as your business falls. You |
| on these questions before you starting a business. | | | | must remember that you cannot be expert in all fields. |
| 2. Planning. Your business plan will convert business | | | | |