Not in my book, it doesn't. And I'll tell you why in just a moment.
First, take a look at a smattering of some of the comments I've been hearing lately.
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I've been in this mall for 10 years, and this is the slowest I've ever seen it.
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We usually have twice as many customers as this in October, this is a very slow year.
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I've had a restaurant on "The Avenue" for 15 years, and this was the worst year I've ever had.
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And on...and on...ad nauseum.
Some of the other store owners are somehow comforted by this talk. It lets them off the hook. It's not their fault the store is doing badly, it's the weather, the season, the gas prices, the elections, or some other outside force. Everyone is having a bad year.
But that isn't comforting to me.
First of all, I'd rather hear that that it's only my store that is having slow sales. If that were the case, then I'd know that I'm definitely doing something wrong. There would be something tangible that I could change, whether it be my merchandise, location, marketing, customer service, whatever. Hearing all of this negative talk from everyone else doesn't make me feel better at all.
Second, even if it is true, and it's a bad year, don't let yourself join the woe is me group mentality. It will only lure you into a state of complacency, "Well, if I can't do anything about it, why try?"
I don't think people would be out in the mall if they didn't like to shop, so my assumption is that they would like to buy something. If it really is that lousy a year for everybody, customers included, then I need to offer value items at lower price points. That way people can still go home from their shopping trip with a purchase in hand, one where they feel that they received value for their money, but without breaking the bank.
I've been adjusting my product line in that direction, and maintaining a positive attitude. Misery can go visit somewhere else.
Interesting point about it not necessarily being the fault of the business. Sometimes it is, sometimes it isn't. I find a lot of more established businesses know their own up and down cycles and are, in fact, in tune with deviations from the normal cycles. Bootstrapping startups are usually not in a position yet to decide if it's their fault, but are very quick to jump in and make changes to improve the situation. It's the businesses other than these two segments that fall into the category of businesses that seem to place blame elsewhere.
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Posted by: Sanjay Kumar | November 3, 2006 8:55 AM | Permalink to Comment