Are You A People Person?

Everyone who has ever worked in retail (and did not run screaming in the first week) has thought about running their own business.  There is certain satisfaction to the one on one interaction that is typical in retail.   You get to help someone solve a need with what your business provides.  That is a very good feeling.

Retailing, at least as an employee, is relatively simple.  You act out a script based on what the business provides in inventory and marketing materials and you are bounded by the company’s policies.  Of course you are dealing with the general public so there are always a few oddballs but my experience is that 85% of the public are easygoing, 10% are difficult but serviceable, and 5% make you wonder why you want to do this job.  But the type of people best suited to retail are those that have the ability to think on their feet.  Some people can’t and should consider avoiding retail because even with the limited script you are authorized to deliver, the public has an unlimited number of modifications they will ask for.

You come and go each day with a relatively clean slate because the transactions are either fulfilled on the spot or they are handed off to another department such as manufacturing or fulfillment.  The transaction is recorded and you need not think much about it again.

Can You Also Run A Business?

Of course this is from the perspective of the employee.  It is a mistake to think that the expertise you gained by working in a retail establishment is all you need to run the same establishment.  You do need all those skills but you also need new ones.  It is the purpose of this Guide to provide you the guidance and tools for both the decision to open a retail business (or not) and also the tools you need to succeed once you are up and running.

The SBA has a good set of papers to read for those in the beginning stage of deciding to open a retail business.   These include personality profiles of those best suited for owning their own retail business.

The following skills are needed within the organization in order to perform all the duties required to succeed:

• Creativity– From choosing the right inventory to creating marketing materials, someone will need to think outside of the box.
• Organization – Paying bills, checking in inventory, and accounting for sales are all tedious work that needs doing if you want to succeed.
• Patience and Persistence – Success rarely comes overnight and you will need to keep trying new strategies until you find what works for your product with your clientele.

Not everyone in the organization needs to have all these personality attributes but someone must have them when they are needed.  Small businesses often work best when there is a sharing of these skills between partners or within families.