14 Obstacles to Retail Success

There are so many things that can prevent a retail store from being successful. We have listed 14 obstacles to retail success. Any one of these can be harmful to your retail business, but it only takes one to be fatal. They are not listed in any particular order. We will list ways to combat these obstacles also.

1. Selection of Products- Many retail owners select products based on what they like. The key is to pick items your customers will love. If you get input from other employees or management, it will make it easier to make better buying decisions. Also, many times the owner has a limited taste and is missing a large group of customers. Ultimately, the owner may make the final decision, but the more info presented should result in better buying for the retail business.

2. Not Organized- Too many owners run their business without a plan. You should have short-term and long-term goals. I used to have a weekly list plus a master list of things to do. It was always subject to change. Also, take care of mail daily. I have been to stores and see mountains of mail stacked high in the store.

3. Lack of Delegation- Too many owners refused or afraid of delegating. It may be they are control freaks or don't trust employees. Both are bad and will severely limit your business. By delegating to employees, it creates better employees and ones who will take more pride in your retail business. Start with delegating simple things and go from their. You will be amazed at what your employees can do.

4. Thinking Outside of the Box- If the owner's thinking is limited, so is the chance for success. It is hard running a retail store. The key is not to follow everyone else and consider choices that will be different. Once again, your employees may be able to come up with creative solutions.

5. Resistance to Change- Owners and employees do not like to change. They want to continue to do things business as usual. Times change and if you wait too late for change, your business may even fail from this obstacle by itself. It is so common for a retail store to doing poorly and the owner will not make major changes. This brings me to the next obstacle.