Yesterday Sam’s Club announced they were closing 63 locations and putting 10,000 people out of work. See if your store is closing here is a list.
There is a great business lesson here for you the small business owner.
You are small business owners, service professionals, franchisees with 1-3 units, independent retail store owners, that open your doors after spending tens, if not hundreds, of thousands of dollars. You then spend hundreds of hours working on getting customers, hopefully, some time on continuing education, and usually hire an employee or a few employees.
You get busy running your business, working in your business, you settle into a “routine.” You’re tired, you’re hustling every day, and maybe you get Sunday off to relax a little before you “hit it” again on Monday.
You think about what you would like to happen in your business next year. You know you have an employee or two that need to go; sure they aren’t working as hard as the other employees. But they usually show up for work, and it does allow you to take another day off.
You exhausted just thinking about hiring someone new, the training process, the unemployment you will have to pay if you let the week employee(s) go, it so hard to find good help, what if the new employee(s) don’t work out, it’s a never-ending cycle that quite frankly some days, just makes you want to run away.
You find yourself planning your marketing 30 days out, maybe 60 days out if you work on the elusive day off.
And here lies the lesson for small business owners. You are not looking far enough ahead into the future, and looking at what is working, what isn’t working, and what action you will be taking.
Big business does forecasting, and not just once a year; they are analyzing the numbers daily. They can see problems immediately that way. They can make changes fast, and most small business owners don’t even know what their numbers are.
Big business makes unpopular decisions once they have all the facts, and they make those decisions rather quickly when they see the story their numbers are telling them. You can’t read the “story” when you don’t know read your numbers.
I’m sure Sam’s Club CEO, John Furner, didn’t want to put 10,000+ people out of work, but his job is to watch over the health of the company. An unhealthy company ends up dying.
And that is what happens to unhealthy small businesses too, they die, but the small business death is usually more painful because it’s you, the owner, who loses a job, a paycheck, sometimes a family, humiliation, and the pain of knowing you put people out of work.
While not easy for the CEO either, he doesn’t know those whose income he is affecting, he doesn’t know their story, he doesn’t know that this isn’t just a job to some folks, it’s a family. While challenging for the CEO, it’s heartbreaking for the small business owner.
If your small business just needs an “injection” of fresh ideas, new marketing strategies, a fresh set of eyes on the health of the business, a Turn-Around, if you will. Then use this link http://meetme.so/jeankuhn and schedule a complimentary 20-minute call: 3 Steps to More Clients/More Cash and let’s get you back on track.