Can your business compete in the “Amazon” and “instant delivery” era? There are some businesses — thankfully in the pool industry with pool contractors and pool service businesses — that can compete but others struggle in the instant gratification era. Many businesses have struggled since the pandemic and because people came to rely on delivery rather than going out to stores. What your biz can learn from mom & pop shops is something Rex Richard and his Peak Dynamics team discuss when they strategize with their clients.
You can compete, you just need to know the “insider secrets.” I’d read an article about what independent bookstores are doing to compete and stay viable and thriving. These are a few lessons I gleaned that could help any small business owner who operates a brick and mortar.
What Your Biz Can Learn From Mom & Pop Shops
Community matters. To compete with the nameless, faceless big box stores, it’s all about community and building a connection with your customers. You don’t need a brick-and-mortar store to build a community. Look for ways to stay connected through emails and even by building an online group.
Be like Amazon and offer an “if you like this, you might like that” to introduce a customer to a new good or service you may have to offer.
If you have a retail outlet, is it appealing to customers when they walk through the door? If you have an online business is your website and online presence welcoming?
Small retailers can compete even with the big box guys. You need to help yourself and your business stand apart through customer service and connection and community building.
Overworked. Overcommitted. Overwhelmed. Do any of these words ring a bell with you? As an entrepreneur do you feel out of control and feel that you have to say yes to every networking event or yes to every client even if they aren’t ideal? Rex Richard gets it and that’s what he works with his clients on during coaching calls and he shows how entrepreneurs can take control of their businesses so they have balanced lives.
Being an over-committed entrepreneur will lead to burnout and dissatisfaction with your endeavor. You need to find a way to work smarter not hard — yes it’s a cliche, but it’s true — in order to focus and deliver for your clients and prospects (and yourself).
How Entrepreneurs Can Take Control
Here are ways to take back control.
Stay in your lane. Look at what you’re saying yes to, why. How can get better processes in to help you know what to say yes to and what to pass on. No one is forcing you to over-commit — think about that.
FOMO — fear of missing out — is real. I get it. Everyone experiences it and people want to be involved in everything and anything. Don’t let FOMO be a “motivator” for you.
Pay attention to your calendar. Don’t say yes until you look at what you already have going on. To avoid over-committing you have to know your availability and block out time for you and your necessary tasks as well as personal and family life.
Set goals. Work on the tasks to achieve them. If you don’t know what the important things are you let items fall through the cracks. Keep in mind that important tasks could be the most time-consuming and require the most effort, but you need to complete them to move forward. Block time in your calendar to complete these items.
Self-care is crucial. You may be thinking, “I’ve over-committed. I don’t have time to take time off or get a good night’s sleep.” You have to lose that mindset and adopt a mindset that you are the most important person in your business and if you’re not taking care of yourself, it will fall apart.
Ask yourself:
Are there certain people you always say yes to?
Are there certain tasks or jobs you always say yes to?
Do you find it hard to say no because of FOMO
Do you have a clear roadmap for your success and goals?
Do you have a clear picture of who your ideal client is?
Reach out to Rex Richard about business coaching and goal setting. Start 2023 with a clear path and without the overwhelm
