When I was in fifth grade, my dad took me to the Schwinn bicycle shop in Toledo and told me I could have any bike I wanted for my birthday. So many possibilities! It was like winning the lottery!
Nowadays, when it comes to my speaking and consulting business, spending money rarely has that exuberance. That’s because I have to do it if I want to remain competitive.
Wanting to do it has little relevance. If I want to be here tomorrow, I need to invest today.
For many retailers, investing in their business is usually thought of only in a crisis:
We have to get a new A/C system; the compressor stopped working.
The POS system crashed, and we lost all the data.
We need to replace the roof; they can’t patch the leaks anymore.
You get the idea.
The smart retailers are always looking for how they can invest in their future long-term success. They know that finding out how to attract customers and also close the sale are priorities.