Unlocking Retail Potential: Overcoming Low Performer Mindsets for Business Success

Are You a “Low Performer”? SRT

I think everybody if truly honest would like to think of themselves as something more than just “average”. Average after all is considered mediocre middle-of-the-road and nondescript. Clearly not everyone or every store will be classified (in BPR terms) as a “high performer”.

The most recent Business Performance Report sets forth retail metrics which it breaks down into categories of “high performers” and “low performers”. I personally know many of NSRA’s “high performers” and am proud of the fact that several of them are RMSA clients. To them I say “Congratulations; keep raising the bar moving the needle and pushing the envelope. You are excused from reading the rest of this article.

Speaking to the Average or Low Performers

I want to speak directly to those stores that might fall into the average or low performer category. Few people know the stores that live in this group. These aren’t the folks that you meet at a trade show or an NSRA event that readily admit to performing on the sub-par side of industry norms. I don’t believe that stores go into the shoe business with the ultimate goal of being a low performer.

I think they end up being a LP for a variety of circumstances some of which are outside of their control and some not. I don’t believe they want to see themselves as “average”. I don’t believe that most low performers are lazy unmotivated or untalented. I do believe however that season after season year after year mediocrity can become an acceptable norm if left unchallenged. This in my opinion is a major difference between high performers and low performers.

Reasons for Accepting Low Performer Status

• Fear or reluctance to change
• Ego
• Control
• Lack of knowing what resources are available
• Not wanting anyone to know their business (usually because it’s bad)

The Fear of Change in Family Businesses

The retailer that is held back by fear of change is often a family business. You often hear the reasoning “we’ve always done it this way” without a convincing argument as to why the particular behavior is allowed to continue. To some folks change can be frightening. In some cases people are reluctant to look under the hood because they are afraid of what they might find and the course of action needed to make things better.

A Cautionary Tale

I knew of a young man who put off seeing a doctor for over a year even though he had the classic symptoms of colon cancer. Instead he rationalized his decision through a daily regimen of exercise designed to convince himself that he was “OK”. Besides he was way too young and “healthy” for cancer. Long story short he had a portion of his colon removed and endured a year’s worth of chemotherapy. All of which may have been avoided if warning signs had been heeded and help sought earlier. Why didn’t he seek help sooner you ask? In this case he didn’t want to hear that something might be wrong with him. Had he waited much longer he could have ended up as a Permanent Markdown! I know crazy right?

The Role of Ego and Arrogance

EGO arrogance and control are paranoia traits usually rooted in embarrassment or shame. “I don’t need outside Help” “Nobody knows my business better than me” “We’re different” “I don’t want anybody to know my business” “Our store is unique”. Yeah Right! I can’t tell you how many stores I have seen that have failed to maximize their upside potential or worse go out of business because they were too stubborn arrogant or insecure to ask for help.

The Consequences of Inaction

Taking no action is a cognitive business decision. All too often refusing to act leads to a long list of economic calamities including:

• Lost jobs
• Abandoned lease obligations
• Unresolved vendor debt
• Personal financial upheaval

Becoming a high performer starts with a state of mind and a personal commitment to become one.

RMSA: Your Educational Partner

RMSA as an educational partner of NSRA is here to help. However there is one big problem. We don’t know who you are!

Feeling Stuck?

If you are feeling stuck consider yourself “average” and want to know what steps must be taken to become a “high performer” or are falling short of industry benchmarks you are encouraged to reach out. All correspondence is confidential and there is no cost or obligation to discuss your particular situation and possible courses of action. We are a resource that is available to help. Most businesses can be helped if issues are caught early enough.

Don’t be like the guy discussed earlier who put off going to the doctor until it was almost too late. Don’t allow a lack of action to force your business into being a Permanent Markdown!

Contact Information

Ritchie Sayner – colon cancer survivor and NSRA mentor!
816-505-7912
rsayner@rmsa.com

Ritchie Sayner

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