Beauty Store Business

JUL 2013

For beauty business news, beauty store owners turn to Beauty Store Business. Beauty business trends, beauty business profiles and more!

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How Not to Succeed In Business Here are seven ways to help your store fail. Stay away from them! TOO MANY ARTICLES ARE OUT THERE to help you succeed, get more customers, cut costs or make more money. But what about those businesses that are determined to fail? What advice will facilitate their eventual demise? The short answer is that it is actually very easy to fail. The real work lies in keeping a business afloat and moving it to the next level of profitability. Along the path to failure you can find now-defunct stores and their managers who lost sight of what it takes to be successful in retail. There are many reasons for failure, 78 July 2013 | beautystorebusiness.com most of which are actually quite controllable. A few—such as a manager's declining health or a devastating disaster that destroys the store—are virtually impossible to prevent. But all the other reasons for store failure—such as a lack of sales, high expenses, lackadaisical staff, no upkeep or upgrades and poor customer service—are within your realm of control. Retail can be like a chess match where you must be thinking three to five moves ahead to eventually win. Your opponent is not just the competition—your numbers for the last quarter and the last year are knocking on your door. It's not easy to survive in this industry, but if you focus your attention on the right areas and maintain a stellar team of associates, it can be a challenging and rewarding experience. The following takes a tongue-in-cheek approach to helping a business do worse today than it did yesterday. Obviously, we at Beauty Store Business are not advocating that you follow these suggestions. However, being aware of this illogical business approach might spur you and your team to keep yourselves from falling into these traps. Thinkstockphoto.com by Steven Austin Stovall, Ph.D.

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