myRetailer.ca

Make a Strategic Business Plan

Ensure success in 2009 by making a strategic plan for your business this year. After a hectic Christmas season, and a January clean up, February for most retailers means the start of a fresh new business year. This is a time to reflect on 2008 and finalize plans for the year ahead, both for you and your business.

I challenge all of you to take a few hours away from the office and your store, and dedicate some real focused time towards strategic planning and goal setting. Ideally, you’ll be able to get away for a full day with your key person (or people) to do this. In my books, a full day means a full day. As hard as it will be, don’t even step foot inside the store for one entire day.

To help you in your planning process, I’d like to share a two-part thought process that has served me well over the years.

Part One – Long Term Outlook

First, it’s important to really think about what you want your business to look like in the future. Take time and think five years out.

-          Where do you want to be personally five years from now?

-          What will your business look like given your personal goals?

-          Do you want to grow your company? Or would you rather keep it the same size and grow profitability?

-          Do you want more independence from your business?

-          Do you want to expand your business? Open at another location? Move locations?

-          Do you want to retire?

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Welcome to a new blog solely dedicated to providing ideas and insight that will help drive success for independent Canadian retailers. I’m Andy Buyting.

You might be wondering who I am and what I’m all about. I’m an independent retailer based in Atlantic Canada. My business, Green Village Home & Garden is one of Canada’s most successful retail home & garden stores. My family has operated the business for more than twenty years in Fredericton, N.B..Today we operate two stores in Fredericton and Moncton. We also operate a landscape service company in Fredericton with plans to launch our services toMoncton area residents in time for the 2009 season.

In 2007,I published The Retailer’s Roadmap to Success: 33 Secrets for Driving Your Business to the Next Level.

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