RETAILOBSERVER.COM OCTOBER 2018
4
Eliana Barriga
eliana@retailobserver.com
Onward and upward-
OCTOBER 2018, VOLUME 29, ISSUE 10
CELEBRATING OUR 29
TH
YEAR
AS THE RETAIL OBSERVER
PUBLISHER/MANAGING EDITOR
E LIANA BARRIGA
DIRECTOR OF SALES AND MARKETING
MOE LASTFOGEL
ART DIRECTOR
TERRY PRICE
CONTRIBUTING WRITERS
BILL BAZEMORE
CHAD EVANS
BRUCE MANNING
DON PIERSON
DENNIS SHIELDS
DAVID SMITH
JOHN TSCHOHL
LIBBY WAGNER
DOUG WREDE
DEADLINE FOR DEC. 2018 ISSUE:
NOVEMBER 1, 2018
THE RETAIL OBSERVER
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THE RETAIL
I
s it time to re-examine the many aspects of running your business? Whether your
business is relatively new or multi-generational, ask yourself if your company is in
line with the vision and mission statement you'd established when you started
your business.
I am constantly inspired by the enthusiasm and energy of start-up companies. I
wonder how well our businesses would prosper if we reviewed our mission
statements and visions with a renewed focus.
Perhaps this is a good time to re-evaluate our day-to-day processes and revisit
the entrepreneurial spirit which inspired us from the beginning. As time goes by, like
anything else, we may become blind to areas that can be improved upon: our
"house" gets dirty, dust balls accumulate—we get used to seeing the clutter and it
becomes viewed as acceptable. We may get used our company culture the way it
is right now, which may not be in line with our original vision.
So, maybe it's time to take a moment to assess where you've been and where
your company is now. Make sure that you're not just drifting in a particular direction
out of complacency—if so, adjust your sails to proceed full-steam ahead in the
direction of excellence and growth. Even if your day-to-day schedule is booked
solid, consider taking the time to pull back, look with fresh eyes, and examine the
core of your business.
I often ask myself, what would Steve Jobs do? I am sure he was constantly
reviewing and re-evaluating Apple's progress. Is it time to take on new products or
take the company in a fresh direction? How's the temperature of your company—
where are you, how are you forging ahead?
That's where the SWOT analysis comes in as a valuable tool for plotting your
company's course. This analysis is a study to identify a business' internal strengths
and weaknesses, as well as its external opportunities and threats. It takes a
snapshot of our companies: where they are strong, where they are weak, and
where they are not aligned with our original goals and values.
After looking at your current vision and mission statement, you may find it
antiquated—it may have worked 15 years ago, but may not fit today's rapidly-
changing climate. Our ability to adjust our course to reflect our renewed vision will
help create a successful path into the future.
RETHINK YOUR
BUSINESS MODEL
Consider using a start-up mentality
Elle's View As I See It
