In the world of life every decision / choice leads to a development….and those add up to something, or nothing. There are several factors in business related to success and it’s amazing to me why one business succeeds and another doesn’t. This topic came up last night when I was discussing the closing of a Columbus-based retail chain with 4-5 stores. I liked the store, never really bought much there and wondered how they could afford their rents, but nonetheless, they had good products, very nice stores, solid branding and marketing..so what happened? Just a goof up somewhere? Not selling enough? Wrong product mix? Did they pick a demographic that was affected by the economy? I can imagine there are several factors, you never know…well at least I don’t have a clue. Then Les Wexner’s Limited brands came up – I don’t know the whole story but they began with one store and he and his team built an empire. How did they survive, was it luck, was it smart decisions, good branding….probably lots of good moves and certainly “luck” – however you define it.
As a small business owner I don’t spend time thinking about failure versus success but more importantly (1) do I believe in what we are doing? (2) do people like it and ARE they buying [liking it doesn't keep the lights on], (3) am I doing everything I can every day to move forward. So far the answer to all three has been an overwhelming YES. Now it is our team’s job to make sure that continues.
Great snowy Friday, be safe around town wherever you are. Thanks for reading. Enjoy your weekend.