I was forwarded an article about several quotes from Costco Founder and CEO, James Sinegal.Quotations From James Sinegal He mentions several things that I think most retailers should listen to. I particularly like two of the quotes:
1. "I think the biggest single thing that causes difficulty in the business world is the short-term view. We become obsessed with it. But it forces bad decisions"
With all the growth that has occurred over the last several years, many retailers got caught up in the short-term, and did not make wise decisions that would protect themselves from the inevitable slow down in the long-term. I think Mr. Sinegal hit the nail right on the head with that one!
2."This is almost like show business. I mean, every day you're opening up and it's show time."
This has actually been a saying I have heard in variations for years. Those who practice it do very well. This translates to everything from the cleanliness and visual standard of the store to the energy and friendliness of the employees. Most companies utilize some form of a "touch-base" form to coach employees at the beginning (and sometimes end) of every shift. That is the right place and time to get your team on board with this concept.
1. "I think the biggest single thing that causes difficulty in the business world is the short-term view. We become obsessed with it. But it forces bad decisions"
With all the growth that has occurred over the last several years, many retailers got caught up in the short-term, and did not make wise decisions that would protect themselves from the inevitable slow down in the long-term. I think Mr. Sinegal hit the nail right on the head with that one!
2."This is almost like show business. I mean, every day you're opening up and it's show time."
This has actually been a saying I have heard in variations for years. Those who practice it do very well. This translates to everything from the cleanliness and visual standard of the store to the energy and friendliness of the employees. Most companies utilize some form of a "touch-base" form to coach employees at the beginning (and sometimes end) of every shift. That is the right place and time to get your team on board with this concept.
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