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From my library of great books …………
This article is going to take a different slant. I read 30 minutes every day from various business books. Usually I am reading 3 or 4 at the same time. This past month I am reading “Power Retail” by Lawrence Stevenson. I suggest strongly you take the time to read it.
Here are some quotes from the book.
- Overall supply of products have increase by 40% yet demand which is measured by disposable income has decreased by 11%. No wonder many retailers are finding more and more of the same products sold by more people but are having a challenge increasing customer counts.
- Just 5 years ago the average Canadian spent 142 hours per year shopping now they spend 40 hours. Is it any wonder convenience and fast service are becoming key ingredients to successful retailing?
The reason I love our industry is because of the great people I have worked with and met over the years. I have always felt the key to giving great service is in the people serving the customers. Only people who are treated well will serve well. Following is the “culture statement” from Home Depot. This could be an example for many of us.
The Home Depot culture is about people:
- value our customers.
- respect fellow associates.
- treat vendors [suppliers] as partners.
- love what they do.
- feel good about themselves.
- are allowed to make mistakes, learn from them and move on.
- are creative and have an entrepreneurial spirit.
- know they can make a difference.
- ask questions and suggest new ways.
- welcome change.
Home Depot has become a very powerful retailer in a relatively short time. It is encouraging to see that they are working to maintain a true human spirit amid their huge growth.
When all is said and done the relationship we have with ourselves, our fellow staff, our customers and all the people connected to servicing our business will determine our success.
As an exercise take a sometime and write your own store “culture” statement. Get participation from your fellow staff, have new employees read it, and post it in your back room in large letters. I know it will create a “real” focus to your business.
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