“How Many Arrows Are in Your Quiver?” by Marc Weiss via The Management One Newsletter

“How Many Arrows Are in Your Quiver?” by Marc Weiss via The Management One Newsletter

In business, this is a metaphor for what resources and strategies are available to you in order to achieve your goal.

The quiver holds the arrows, you as the store owner are the archer and the target is your retail business goal. The relationships to this metaphor are endless; like being the hunter, having enough replacement strings for your bow, (meaning always to be prepared), different types of arrows, not one strategy or tactic meets all situations, etc.

Thinking about how many arrows are in your quiver is also a remedy to reduce stress, and thus focus on those arrows that solve problems, instead of focusing on precipitating factors that are expressed in fear, anxiety, and stress.

Securing arrows in your quiver is also a way to mitigate risk. If you miss the target with one arrow, there is an ample supply of arrows to fall back on. If you are an Avengers fan you might have seen the jokes on Facebook, that Clint had a 3D printer available at lightning-fast speed. Wouldn’t that be nice? According to Google, Hawkeye had 32 arrows, 16 on each side that were visible. How many arrows are in your quiver, that you can call into action?

Along with our OTB planning and merchandise intelligence, a key arrow, we have also created other tools that add to your quiver to make decisions. We have also built strategic partnerships with synergistic businesses that provide additional and important arrows.

Here are some key “arrows” we have vetted that can make a difference in your retail business:

  • OneShop Retail, brings clienteling to a new level for your salespeople to improve their productivity and increase revenue.
  • Crystal Media– Helps retailers grow through social media. 
  • Whizbang! Retail Training– Bob Negen, I honestly don’t know when this man sleeps. He is constantly creating and sharing ideas that build and sustain business and has developed a wonderful online sales academy.
  • Kim Pagano at Publik Image- Kim recruits, even in today’s harder-than-ever environment and does hands-on training in stores.
  • The Boutique Hub– The world’s largest boutique retail community providing daily connections for tools, knowledge sharing, and training in the retail industry.
  • Peak Effects Marketing, eMarketing Logic and Bull Ads– they have the know-how on how to build in-store traffic through direct mail, digital marketing and advertising. This is on top of everyone’s mind as we think about driving business in the fourth quarter.
  • FAVES – Integrates with our OTB planning to help better manage a retailer’s buying budgets per class and optimize market visits.
  • Max Retail – Turns sale rack merchandise into cash. One retailer’s unsold inventory is another’s best seller!
  • Utilize the resources of The National Shoe Retailers Association, The Independent College Bookstore Association, The Board Retailers Association and Trade Show Organizations like Informa, Emerald, and Grassroots Outdoor Alliance. All of these provide massive resources to assist indie retailers to locate vendors that match your needs, and educational programs to learn and grow.
  • Using your merchandise plan to stay fresh and rotate your inventory. Fresh inventory sells and keeps customers curious and coming back.
  • Leverage performance-based,  long-term and short-term pay structures to incentivize reaching stretch goals.
  • Your people- your greatest strength when harnessed. In the collective knowledge of your people lies the next big idea, maybe a new social media star, and people who build real and genuine relationships that create the loyalty that has allowed indie retail to flourish in the last year and a half.

This is not a list intended to do it all, but to pick where your greatest priority rests and focus. Select one or a few items, focus on a strategy, push towards implementation and the results will accumulate. 

We are proud of the relationships we have built with all of our partners. We accept no remuneration and proudly promote their services as they help us help our retail community to thrive. They enable us along with our services to achieve our goal of providing financial security to the Indie Retailers we are proud to serve.

Onwards and Upwards,

Marc Weiss

Management One is committed to the independent retail community. We have built a new technology that is an AI – Merchant driven data platform to learn and understand new elements of demand and produced over 30 educational webinars attended by over 20,000 retailers and vendors. Management One created and vetted a host of tools to ensure Indie retailers sustain, thrive, and embrace change. We utilize synergistic partners that share our core values and share the same commitment to our community.

Click on the following link to access downloadable tools provided by Management One that may benefit you: Downloadable Retail Tools

BRA note: We are very pleased to mention that Management One is BRA Supporting Vendor Partner that provides a variety of helpful retail related resources and quarterly webinars. If you would like to be introduced directly via email to the solid people behind this excellent consulting company, email me. – Doug Works, BRA Executive Director

If you are not yet a BRA Retail Member, you can easily opt in to either Regular (no cost) or Distinguished ($100/yr.) Membership via this super simple join form