What would happen in your business if you didn’t turn up for work for a day or a few days?
I appreciate that for many independent convenience store owners and newsagents the shop would not open as they run the business alone or almost alone. My question is for the others, the owners who are not rostered on as rust, but who turn up each day to run the business.
What would happen if you disappeared without planning or notice for a few days? Would the business continue to function? Would it miss you?
If your business would miss you if you disappeared for a few days, you have a problem. Your business should have processes and policies in place that allow it to operate as you would like without you being there.
I think the independent convenience and newsagent channels have too many managers. I am certain we have more than our competitors. Supermarkets, department stores and other corporate retailers have a lower ratio of in-store senior management cost per £100,000 in sales revenue than your average convenience store. For our higher investment in in-store management, (and your time does have a price tag) we have less to show for it.
If you are an owner who has to be at your store every day to manage (and do) the day to day operations who is doing the doing the strategic thinking? Put in place in your business structures and processes so that the business runs well with you attuning a few hours a week. Use the free time to push the business way beyond where it is at today.