Changes in any business are not just inevitable, they are necessary. And the big difference between negative changes and positive changes are simply who or what has initiated them. That’s why I think it’s good to be out front of any changes as much as possible and know when to implement new ideas and when to let ideas go. It’s simply a critical component to keep your store thriving. Most importantly, changes are empowering when you have some say in the matter.
With that said, I have a few recommendations regarding when and how to stay flexible and pivot when necessary. Some of these ideas you may be putting into practice already. If so, that’s great. If not, then I hope they provide valuable points to consider.
When to Try New Ideas
When new research and customer interest demands it: Many of your customers are likely self-directed and aware of current health trends and research. So, it’s not surprising if you see a surge of interest in specific nutrients that may be in the headlines. This is a good reason to encourage your team to stay informed on emerging science as much as possible, and for you to be ready to add clinically validated products to your inventory when it looks like they will be the next big thing.
Of course, adjusting or adding store stock based on what appears to be a flurry of interest requires some experience and careful discernment, too. Not every health headline yields true gold—sometimes what seems like a breakthrough is simply a short-lived fad and isn’t sustainable for sales or valuable for your customers’ well-being. And, to put it mildly, not every bit of health knowledge acquired from the internet is especially accurate or useful. Nonetheless, staying informed about the latest research and nutrients from reputable sources will help you make the necessary adjustments and get ahead of the demands of the marketplace rather than being surprised by them.
When your team needs to feel energized (or re-energized): Every business wants to keep its top employees, and if you’ve been hiring the best, they’re probably all top employees in their own ways. But even the best people will want some flexibility in their roles now and then, or a chance to shine by being able to play to their strengths or emerging interests. Be aware that top performers may look elsewhere if they feel they aren’t learning new things or being challenged in a positive way.
So, encourage the members of your team to thrive by taking classes, attending trainings or shows, being the face of your store at local events, and—if they are ready—ordering new products into the store that may be the next big hit. You may find employees who are well known for their customer interactions also have their fingers on the pulse of what your customers’ will be seeking in the future, simply because they are so plugged in to the latest science, studies and trends.
Don’t be afraid to let these employees stretch a bit and develop promotions, displays and events for your store. It may require some creative scheduling or shifting around of roles, but it’s very likely worth the effort. People who are tuned in to clinically validated science in natural health may be incredibly gifted in anticipating customers’ needs, and they are team members you want to keep on your roster.
When you need a strong online presence: There’s no way of getting around the need for a strong online presence in the market today. That’s because there is no better way to let customers know about your latest product promotions, special store events and for keeping connected to your community, near and far.
Your online connections with your customers and a robust social media presence are critical, but you must be fearless and committed in order for that aspect of your business to thrive and be effective.
Staying active online regularly, posting often and updating your site and social media messages also trains customers to continually check back to see what’s new. And that’s especially important whether you’re adding new products to your store and promoting seasonal items that you normally don’t stock. Updating online info is also imperative when you need to switch gears, too, including changing store hours or letting your customers know about brand new products and the science behind them. Investing in a strong online and social media presence helps generate excitement and should absolutely be part of your ongoing marketing plan, and the first place you announce any news about your business.
When to Shift Gears
When some products just won’t sell: Sometimes, the “next big thing” just doesn’t work out. That’s okay. Occasionally, you may simply be too far ahead of the curve, and people aren’t ready for it. If you’ve been trying to stay current and genuinely tried to promote certain products in your inventory, but can’t get them to move, it’s probably time to let them go and replace them with something better. As always, make sure that whatever takes their place can’t be easily found somewhere else. In an era of online-everything, this can seem like a tough job–and it is! Fortunately, your unique offerings, combined with the personalized service your team provides, will continue to make your store a destination for loyal customers and draw new shoppers, too. But to be realistic, when it comes to staying profitable and flexible, you can’t afford to donate shelf space to items that aren’t selling.
After visiting the competition (with some reservations): Visiting other stores–whether they are national, upscale food stores or locally run retailers in nearby towns–can be a very helpful strategy when you’re looking for different ideas. First, it allows you to see other approaches toward displays, signage, aisle arrangements and events that you could adapt to your own store. Maybe they have a creative way of promoting their guest speakers or featured products that hadn’t occurred to you before. Or conversely, they have some of the same ideas you’ve been kicking around regarding end cap displays, shelf categories and up-and-coming natural foods but haven’t tried yet, and now you can see how they work. That doesn’t mean you have to mindlessly copy anyone, but there’s nothing wrong with adapting a concept, and improving it. After all, when you see something that can help you boost your own store’s success, why not take note and make it your own?
But like all potential course corrections in business, these decisions need to be made with a great deal of thought and discernment. Sometimes a new idea simply sounds better than it is. When visiting competing businesses to do field research, jot down some of your favorite ideas, take photos when possible, and then look back at all the different things you noticed that seemed especially appealing at the time. Some of these ideas may have lost their luster after a brief passage of time and a bit of reflection. However, if some of them still inspire new and profitable directions for your store, consider adapting them, and putting those promotions and ideas into practice.
After getting input from your team: Sometimes we can overlook great ideas that are close at hand. Every member of your team has strengths they excel at: let them weigh in, too. Promoting an atmosphere of trust and allowing questions and suggestions helps everyone feel engaged and excited about your store’s success.
You Can Do This: Adapt and Experiment Without Fear
I believe the old statement, “nothing ventured, nothing gained” is true in business and in life. It’s important not to remain in neutral gear and simply coast along on past successes. Part of growing in any endeavor, whether personally or professionally, requires doing something new and investigating opportunities.
It can be a great leap of faith to do something different in your business. From my own experience, I can tell you that some experiments have worked tremendously well, and others haven’t always panned out the way I’d like. But staying flexible and maintaining a spirit of adventure and creativity are crucial to keeping your business profitable and personally rewarding.
Pivoting creatively to meet changing circumstances is simply good sense. And there’s nothing wrong with changing up displays, store events and even store hours to stay relevant, accessible, and exciting for your customers—even if the bottom line doesn’t immediately demand it. In fact, freshening up your store’s operations may be exactly the pivot you need for continued success for years to come.VR
A highly regarded leader in the natural products industry, Terry Lemerond is founder and president of EuroPharma, Inc. He also founded Enzymatic Therapy, Inc. and PhytoPharmica, Inc. and is currently co-owner of the Terry Naturally Health Food Stores in Green Bay & Suamico, WI, which recently won its eighth consecutive consumer choice award as “Best of the Bay.” With more than 50 years in the natural products industry, Lemerond has researched and developed more than 400 nutritional and botanical formulations that continue to be top-selling products in the market. Lemerond shares his wealth of experience and knowledge in health and nutrition through his educational programs, including a weekly radio show and newsletter, podcasts, webinars and personal speaking engagements. He is author of 13 books, including Seven Keys to Vibrant Health, Seven Keys to Unlimited Personal Achievement and 50+ Natural Health Secrets.
