Showing posts with label 5Ps. Show all posts
Showing posts with label 5Ps. Show all posts

01 July, 2013

How SMART are your goals?

You may have noticed that I have a love of acronyms. No, I will not LOL, don't do TTFN and as for PMSL, let's not even go there. But I do like an acronym which helps explain a concept and focus the mind. To that end, I'd like you to say Hello to SMART.



What does SMART mean?

  • Specific If it's vague, it's meaningless.
  • Measurable Are you able to quantify success?
  • Attainable Make it too difficult, and you set yourself up for failure. It should be challenging, but achievable.
  • Relevant Is it applicable and important to your business?
  • Timebound When does it start and finish?




Let's put this into context.

"My goal is to increase sales". Sound familiar? It's certainly something I hear a lot when I ask about business goals. But is it SMART? Whilst it may be relevant, it lacks detail. When do you want to increase sales? By how much? What are you comparing the increase to? When will you assess the success of your goal?

If we take that goal and add a few simple details we can make it something easier to manage and more useful to the business: "I want to increase sales for the month of July by 10% on the previous year."

Is it specific? Absolutely.
Is it measurable? If you keep clear and accurate records of sales, and you have a reliable system which can tell you how much you have taken on a daily basis, then yes, it is measurable.
Is it attainable? Only you know that. If you've been experiencing sales increases of 2% like on like then aiming for an increase of 10% is unrealistic, unless you have special measure in place to boost sales. 
Is it relevant? Sales are always relevant in retailing, so a resounding Yes.
Is it time-bound? We have a start and finish date - the month of July. Again, a resounding Yes.

You can see how the second goal can be measured and reviewed in a way which the first can't. It's important to be able to review the success of your goal: you want to replicate what worked and change what didn't. Without this element of review, you're missing a key tool to develop and grow your business.

The principles of SMART can be applied to pretty much any goal, from redoing the window display to planning for a stocktake. It also has the benefit of taking something vague and overwhelming and making it accessible. For example, by being more specific about what you want to achieve, it makes it easier to think about how you're going to achieve it*. It also enables you to share your goals with your staff in a meaningful way (which WILL increase your sales)*.

SMART and I have become firm friends. I think you'll be smitten, too.

[*Want further information on breaking down goals and sharing them with your staff? If you'd like my next blog post to be about this subject, let me know. Hell, don't be bashful, let me know what you think anyway!]








07 May, 2013

You don't have to be on Facebook

That probably sounds an odd statement to make, right. After all, in this day and age, when social media is ubiquitous, having a presence on Facebook and Twitter is a given for any business wanting to connect with their customers. 
Well, yes and no. 
It's a terrific tool which allows you to engage with your customers in an informal and inclusive way...if you approach it in a professional manner. Because there's the rub: that it's informal doesn't mean you should approach it casually. 

What sort of things have me ready to click on "Unlike" or "Unfollow"?

Carelessness
As irritating as it might be, the old saying "retail is detail" has never been more true. I've spoken previously about the importance of merchandising and housekeeping; your social media presence is an extension of that. Incorrect set up (if your business has a Facebook Profile rather than a Page, then I'm talking to you), misspelling, missing information, not updating information...you get the picture. As retailers, we know we're judged on how we present ourselves and our stores, however unconsciously it may be done. Social media is simple another way of doing that.

Tumbleweeds
Social media is about engagement, so you need to engage; simply setting up a presence isn't enough. 
Post regularly and keep it relevant. Monitor interactions with your account. If people are engaging with you, then acknowledge that, and do it in a timely manner. Check your accounts once a day at the very least. Remember that by setting up a social media account, you're encouraging engagement with your customers; don't be careless with it when they do just that.

If anyone's going to be entertained, it should be your customers
I don't want to know if you're playing Farmville, or have had a great night out with your buddies, yet this is the sort of thing I've seen from businesses I have followed. Save that for your personal accounts, because I really don't want to be reminded that you'd rather be doing something else.

Don't spam me
Are your posts about selling, such as promoting your catalogue or current sale items? Do you use supplier promotional copy and press releases? Do you do these things almost exclusively? If so, you're spamming me. 
If I want promotional material, I'll go to your website or sign up for your catalogue. If I follow you on Twitter or Like you on Facebook, it's because I want to know more about your business and your team, so charm me. 
Post things which are interesting and relevant, and I'll be happy to read the occasional sales message. Make selling all you do and I'll run a mile.

What sort of things engage me?

Discovery and surprise
You know your business and product better than I do, so tell me things I don't know, or may not have discovered. It may be an article, video, website, or just a snippet of information. As long as it's relevant, you're on the right track. Avoid anything ubiquitous - you don't want to look as though you're late to the party!

Personalise it
If you care about what you do, that's your story. If you have a great team, that's your story. If you engage with your local community, that's your story. Share your story with me. If you're sincere and inclusive, it's difficult to resist.

Fun and whimsy
Finding your voice can take a little time, but it's worth the effort. If you can make me smile, I'll hardly even notice when you're selling to me.

Acknowledge me
That business which didn't respond to my post on their Facebook page about updating their address? I won't be seeking out their new location. The company which took three days to respond to my tweet praising some exceptional customer service in one of their stores? So much good work undone. 
However, the person who sent me a private message within an hour of a Facebook post about problems with ordering, you did your organisation proud. 


There's still a lot of fear and confusion around social media, but looking back on my comments it surprises me how much of it relates to good customer service and good housekeeping. Which shouldn't be a surprise at all, because everything a retailer does should be about their customers.
It's about the 5Ps, and again this should come as no surprise. Spend a little time setting parameters, such as who's responsible for the site and the sort of things you'll post and how often. Also do some research on what's out there and who does it well and why - as well as who does it badly and why - and you're setting yourself up for success.

So now you know that when I say you don't have to be on Facebook, it's not that I consider it unimportant, but rather that if you're going to do it in a half hearted way, you're probably better off not doing it at all.

Who do you think does social media well? Have you picked up tips from other businesses and, if so, how have they worked for you? I'd love to hear your feedback.



24 April, 2013

Managing staff - it's all about the 5Ps.

There are two main recruiting practices:
  1. Filling a vacancy as quickly as possible and hoping for the best;
  2. Spending extra time and effort in the early stages to set all parties up for success.
The reality is that most of us have, at some stage, been guilty of option one. Your business doesn't slow down because you're short staffed, and the demands of Now can be overwhelming, overshadowing the Benefits of Later. But being prepared to suffer a little pain in the short term can set the stage for greater success - and much less stress - in the long term and on an ongoing basis.   

Proper
Preparation
Prevents
Poor
Performance
You're likely already familiar with the 5Ps. Make them the cornerstone of everything you do and you'll avoid much frustration and save a great deal of time dealing with avoidable problems.  
How to apply them to recruiting new staff? Here are a few tips:

Recruiting
There isn't a foolproof way to picking the perfect staff member, the aim here is to reduce the chances of selecting someone who isn't right for you or your business. 
The interview process can be a difficult one. Make it easier and more reliable by having a list of core questions you ask each interviewee. Base them on the requirements of the role and the values you're looking for. In this way you'll be comparing like for like on what's important to you. Also, if you're like me in having a terrible memory, you'll not forget to ask key questions!
If you can, do a second interview, ideally with a different interviewer. Different people pick up on different things, and this fresh approach can add real value to the process. Ideally, it will reinforce your original assessment. However, be prepared for the opposite. 

Induction
This is where it often starts to go wrong: a new staff member is brought into the business, shown little more than where the tea room is and how to use the register, then left to get on with it. 
Take time to share important information about your business: the history; business values and standards; policies and how to access them; services offered; what sets you apart from your competitors and so on. Help them to understand the why, how and where of your business.
Talking about your business not only sets the tone about professionalism and performance, but also goes a long way to making a new staff member feel part of it.

Training
Most jobs are far more complex than they appear. A task may appear straight forward, but have elements which must be fully understood to be performed well. Having a structured training component of the induction process will ensure that a new staff member is fully trained in all aspects of their role and set up to succeed.
As with the interview process, have the training component documented to make sure nothing is left out. Start with the basics and build on that, step by step, taking a logical progression. In this way more information will be retained and confidence developed.
Use the "show me" technique to ensure understanding. This is also useful as a refresher if there's a break before the task is actually performed, say a day later or before the next stage of training. When they're performing the "show me", be patient. Remember that they're not only new to the task (or at least your particular systems), but also probably worried about making a mistake. Letting them know you understand this will go a long way to relieving what anxieties they may have.
Don't feel that you have to complete every element of the training yourself. If you have staff with particular strengths, involve them in the process. It takes some of the pressure off you and shows the existing staff member you value their knowledge and ability to communicate it. 

Review
This is an ongoing process, whether a staff member has only just started or been with you for years. Whilst me may assume our staff know if we're happy - or unhappy - with their performance, the reality is that if we're expecting staff to "read between the lines", then chances are there are going to be errors and misunderstandings.
Clear and open communication is essential in the review process, as it is in all areas. At its simplest, this takes the form of constructive feedback, both negative and positive. Negative feedback helps a person understand what they have done wrong and how to fix it; it gets them back on track. Positive feedback reinforces desired behaviours and encourages more of the same. Both are essential and both should be done in a timely manner to be effective.
Why is it essential to do it in a timely manner? If you're failing to address a negative behaviour, the the perception is you're condoning it, making it much more difficult to deal with later. If it's a positive behaviour, then the perception will soon be that effort is not recognised and appreciated.
How often to give feedback? With positive, as often as possible. Look for wins to recognise. Sometimes, this could be as simple as thanking someone for doing a particularly good window display, or washing everyone's mugs without being asked. Feedback doesn't just have to be about the big things.


As you can see, none of this is difficult, though it does require planning and documentation. The beauty of it is that once this is done, it can be replicated each time someone new is brought into the business.
In summary, next time you recruit, set yourself up for success by doing the following:

  • Spend time to find the right person
  • Welcome them into your business 
  • Give them the tools and knowledge to do their job to a high standard
  • Keep them informed of their progress

Do you follow this process and, if so, how has it worked for you? Would you like to follow it but feel unable to? What do you think? I'd be interested to hear from you.