Good vs Great Retailer – 7 Ways To Tell The Difference

Good To Great

What differentiates a Great retailer from a good one? There are 7 Traits to Differentiate Great vs Good Retailers.

I think about this often as I work with retailers to help them be the best that they can be – both in the store and in their life. It all comes down 7 simple traits. The best news about it is that these can all be learned! So as you read this, rate yourself on a scale of 1-10 to see where you fall. Then take action.

The first trait that you must possess is EXCELLENCE. Always wanting to improve every aspect of your life means that you take nothing for granted. You see the gifts that you have been given and want to utilize them to their fullest potential. But be careful not to confuse it with perfection!

This leads us to SELF AWARENESS because you have to be able to rein in a drive for excellence if it is keeping you from getting things done. Know yourself well enough to know when imperfectly done is good enough. I often remind myself that 93% is still an “A”. In addition, you have to know what defines excellence for you. Exactly what does it look like now and be patient as it changes over time.

These are not in order of importance because this one is essential. When a retailer is HUMBLE, they know that they don’t know everything. They don’t let pride keep them from improving and pursuing excellence. They recognize that there are many paths to get there.

They also realize and seek out others who are on the same path to find out what they have done. A great retailer is COACHABLE. They are able to take advice. But this advice is not taken blindly – they ask good questions about how to tailor it for them.

Maybe this is the most important trait – great retailers are ACTION TAKERS. They get information, analyze, decide on a strategy and do it! They don’t sit around worrying about all that can go wrong – if they did that they never would have opened their store. There are risks. But while you are taking action you can always course correct while you are moving forward. But there is nothing to correct when you are still sitting on your butt! Take Action.

Great retailers INVEST in themselves. You have to get an outside perspective on your store from an expert who is willing to be honest and kick your butt when it is needed. Right? It can be us or a good smart retailer – but you have to have someone who is looking at your business for you. You really do want to hear the good, bad and ugly. The person that you are investing time and money with has to be willing to be honest. We always say that we give the store a voice – and tell you what it is saying. It has to be someone who sees the big picture and can help you grow. The store will only grow as big as you grow.

Finally, a great retailer has PASSION. That same passion that drove them to open their store drives them to succeed. It drives them to share that passion and unique knowledge with others. It keeps them going because they know that it makes a difference in the community.

I celebrate these traits in you. For without them, you wouldn’t have opened your store in the first place.

And the world would be less without you.

I wouldn’t be doing you any favors if I didn’t put in a shameless plug here. You see, it is our passion to give you all the tools that you need to be the best you can be. Invest in yourself and come to our Retail Profit Revolution. You will get the tools you need to start a revolution!

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