We live in truly amazing times. Technological advances are making things possible we never even could have dreamed about just a decade or two ago – Like social media, cloud based computing, iPads and virtual assistants like Google and Alexa. (What’s your fav command? Mine is “Alexa play Taylor Swift’s new album from Spotify”) But with all the opportunities this presents, comes a new obstacle: Do you have “Shiny New Object Syndrome”.
The Independent Retail Rainbow
It’s what happens when we get so distracted by all these new tools, apps and trends, that we forget about the importance of the foundational structure of our business.
We see these emerging platforms and connectivity – and we look at them as that ONE thing that will save us. That will solve ALL the problems.
So we dive into it head first and chase that rainbow. Dedicating money, effort and oh-so much time, only to find less energy, less money and lost time at the end of it.
Now don’t get me wrong – independent retailers MUST change to succeed.
I’m not saying you should keep doing the same things you’ve always done, the way you’ve always done them.
Retail is shifting, and you have to shift with it.
But I AM saying that you have to have the foundations in place to be able to be strategic and intentional about WHICH shiny new objects you choose to invest in.
And you have to make that decision, not from a position of needing something to save you – but from a position of maximizing your efforts.
It’s all about the retail foundations
Should you be selling online? Yes! BUT, if you don’t have the structure in place to ensure that your online platform is systemized, profitable and managed in an effective way – it will become a burden, not a savior.
Should you add Instagram Reels or TikTok videos to your social library? Sure! BUT, not if you don’t have a solid marketing strategy that connects every single social media touch point you put out there – or it will suck your time and money up like one of those money-tube-transporting systems (remember those??).
There are so many great, new tools for you to reach more people, streamline your processes, and sell more products. But they won’t actually do any of that – unless you already have your foundations in place.
Unless you know your numbers, have a well-trained team, and you’re on top of your marketing and your inventory.
This is GOOD news!
Before you let this stress you out – THIS IS GOOD NEWS!
Because I know if I asked you which of those areas you’re struggling with the most – you would know the answer. And that tells you what you need to focus on first.
Now create an action plan for improving that area. Make the time, grow your skills and reach out for help when you need it.
THEN you can choose which shiny new object you want to add – from a position of strength, clarity, and intention. Harnessing their power.