5 Traits of Great Small Business Owners
You are a small store, we know. We work with small- to mid-sized stores every day, and are a rather small operation ourselves (when we take down the smoke and mirrors)! This month, we explore the 5 Traits of Great Small Business Owners.
1. Employee Energizer
As a small business owner you should be training, motivating, and incentivizing your people. You should be leading the charge and setting a tone for everyone to follow. Your example (both verbal and non-verbal) sets the standard for everyone else.
2. Motivation Mamma (Or Papa)
Everyone needs a boost, and it is your job to realize when people need a little pat on the back. Conversely, it is also your job to discipline, when needed.
3. Empowering Educator
Two of the most important things you can do to becoming a great small business owner are empower and educate your staff. You aren’t going to be able to be on the floor every day, and you need to build an operation that is successful and turnkey, with or without you. Because your staff has been well trained, you should be totally comfortable allowing them to make smart, customer-centric decisions on the fly.
4. Patient Patty
How many times have you heard, “patience is a virtue”? Allow us to say it one more time. As a small business owner, you need to be patient and know when to sit back and observe. In-store observation (aka Retail Concepts idea of market research) will show you what is actually happening when a customer comes in to your store. It will show you how your employees respond to different scenarios and will really allow you to put the hat of your target customer on. So sit back, and soak it all in.
5. Resourceful Ralph
Big stores have teams of professional buyers in the market every day. As a small business, you don’t have that ability and are probably going to 2-4 tradeshows a year (depending on your segment) to both buy and get up-to-speed with what’s happening in the marketplace. It is therefore your job to be resourceful 365 days a year by constantly shopping the marketplace, scouring social media (Pinterest can be your new BFF), and having ideas of where to look for great merchandise outside of tradeshows. Small stores need great product to be successful, and it is your job to be nimble and resourceful to get that kickin’ assortment.
Do you have questions, or want to talk about your leadership style? Let’s get a coffee and talk it out.