Owning a business today means a life full of planning-planning for the products you are going to carry, planning the marketing programs you are going to run-planning the store hours and staffing, but do you plan for the biggest thing of all? What type of sales planning do you do for your business? Do you have a sales plan that everyone in the store knows about and is geared up to achieve? If you do not plan, the question begs, why do you not plan for your store? In today's market, there are sophisticated sales planning tools catering to retailers of every size, shape and product category.
While these high tech systems can be expensive, the paybacks that retailers see more than cover the cost of the software.
The slightest shift to change a sales plan based on actual results can lead to millions of dollars in inventory savings and staffing savings.
Many large retailers today know that a lack of planning can cost much more than just lost profits--it can lead to a lack of competitive advantage and a loss of market share.
Today's independent retailers are slower to understand this same phenomenon.
The results are proven by turnover statistics and increased profits alike-small independent retailers can achieve the same type of rewards- with just as big a percentage of savings to the bottom line by starting with a much smaller and simpler planning process.
The key is to get started and to put down in some way- a plan by day, by month, and total it to a year plan for the store-- So why plan? Whether you are a big store with a planning system, or a small store with a piece of column filled paper, by planning the sales you wish to achieve, you will do the following: oAllow for you, as a business owner, to sit back and review the strategic plans and goals for your store.
This will have both short term and long term positive effects.
oSet up a system built to achieve your monthly expenses and cash flow requirements.
oCreate an ongoing business tool that can be used to help effectively plan inventory levels for the store on monthly basis.
oSet up an ongoing communication tool for your sales associates to understand the store sales goals and create a sense of team responsibility to achieve the results oSet up an objective process for employees to be reviewed and evaluated The list above are just SOME of the reasons to start sales planning for your business.
Whatever your reasons, whatever your plans for your business are, start planning today to maximize the sales and profits your business can have!