Nothing breeds success like success. It’s infectious. Customers, business associates and staff all sense a thriving atmosphere and are magnetically drawn to it, creating further opportunities for expansion. You attract top talent thru your success. Who doesn’t want to work at Google? Your A team will help project you to the next level.
Are you at a junction point? Sensing new opportunities for growth just around the corner? Some telling signs: sales are humming, you’re thinking to remodel or open additional stores, new possibilities for business partnerships or capital infusion are emerging, you’re sensing the need for additional staff, exciting new vendor opportunities and promotional possibilities are surfacing.
But how to scale up? What are the guidelines for transitioning to the next level? Some helpful tips to project you to the next level of expansion:
• Think big!
Expand your thinking and the details will follow. Network with others - successful business owners and entrepreneurs - who are on the level you’re aspiring to and patterns of broader thinking will rub off. Think outside the box. Don’t remain mired in habits of thinking small.
• Burnish your brand
Re-think your brand. Does it reflect the expanded image you want to project? Consider a new logo and marketing strategy - including themes and tag lines - that reflect your more successful image. You’re re-inventing yourself. All aspects of your business - physical location, décor and displays, inventory, staff - should consistently reflect your sharper image.
• Create increased demand
Focus first on marketing and promotion. Will you be appealing to a larger or more upscale clientele? Define your new market niche.
Start with your website. In 2017 this is non-negotiable. “Just do it.” Your online presence is as important as your physical one. Research other websites that reflect the type of image you’re aspiring to and bring yours up to that new standard. It should be clear and easy to navigate. Most of the inventory in your store should be available to search with clear and appealing images and accompanying details. One efficient way to do this is to group your inventory by designer or vendor and link to their websites. Interested customers should go to your website to browse, get inspired and follow up with a store visit. Is your website that tantalizing?
Search out new marketing ideas you haven’t considered before, such as having short videos made and put on You Tube, Facebook, Instagram, your website and even TV. Delegate staff to continually monitor and post engaging updates on social media. Consider new venues, such as upscale magazines you haven’t used before, for both editorial features and advertising.
• Beef up your supply to provide for increased demand
Research new designers and vendors that reflect your expanded image. Be prepared with larger and more attractive supply lines. Fresh new inventory - all featured on your website, social media, and advertising - attracts customers. Include fashion-forward on-trend pieces for women self-purchasers. Consider more upscale vendors at higher price points. If you don’t have it, you won’t sell it!
• Attract an A team
Is your staff ready to take you to the next level? You’re only as successful as your team. Recruit - thru networking, advertising and social media, such as LinkedIn Recruiter - fresh staff to meet your expanded needs. Do some need replacing? A diverse staff with appeal to a broad spectrum. Millennials will appeal to younger clientele and project social media savvy. Consider each individual’s talents and nourish it. Is someone good at photography? Fashion-aware? Adept at social media? Have a talent for merchandising and display? Give them rein to flourish.
• Streamline and simplify
The more you scale up, the more efficient you need to be. Review and simplify policies and procedures, including daily routine, inventory management and sales procedures. Delegate and outsource whenever possible. Don’t waste time. Have efficient lines of communication so errors and duplications of effort are eliminated.
One of the most successful stores I visited recently - a top store nationally - has a ton of fresh new inventory, a ton of top staff, and does a ton of advertising, projecting an atmosphere of affluence, abundance and success. Everything is organized efficiently and runs smoothly, like a well-oiled machine. It’s not rocket science.
If you’re sensing a desire to scale up, you’re at that junction point ripe with possibilities. Open yourself up to the new opportunities all around you, proceed with planning and clear thinking, and the possibilities are limitless!
Mia Katrin is an award-winning jewelry designer featured in over 100 top stores nationally. She is available for lectures and seminars. To add her Collections or book a lecture: www.jeweljewel.com, 877-539-3569, facebook.com/MiaKatrinforJEWELCOUTURELLC, subscribe to her YouTube channel www.youtube.com/channel/UC2B-53XBuB_HD5-bofc5jAA