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Casual Articles - Invalid Excuses for Poor Business Results - The Economy
Everywhere you look today, you see them. The logos are plastered all over the entryways into most business shops you see on the roads, you seem the at the bottom of every order form page online or in the paper, and even the olympics and the NFL!Visa and Mastercard logos are everywhere you want, or don't want them to be!With the country today spending so much money on
Where CVS and Rite Aid see a need for cautious survival strategies, Walgreen’s sees an opportunity to grow and thrive. The lesson is obvious. Instead of whining about the economy, looks for ways to adjust your product offering to the times,
Awhile back you had a great idea. An idea that you thought could make you a decent income, with very little effort. Then, you had another great idea—to sell your first great idea on the Internet! What better way is there to market and sell your idea to the world, you thought. So, you bought a domain name, found a web host, and hired a high-priced web designer. Before you knew
When Bill Clinton successfully unset the first President Bush, he focused on a sign in his Little Rock office: “It’s the Economy, Stupid”. His point was to focus his campaign on economical issues. Although the president has an impact on the economy of the nation as a whole, blaming the economy for poor sales or lost profits is nothing more than unmerited whining.
In the state of Michigan, unemployment was the highest in the nation. At the same time, job growth was the lowest. This is not an economic scenario that normally leads one to invest heavily in a market.
CVS and Rite Aid decided to ride out Michigan’s economic storm, setting aside little capital to revitalize or grow their Michigan stores. Although seemingly an intelligent viewpoint, it does not display a passion to compete and grow over the long haul.
Walgreen’s Pharmacy saw Michigan through a different paradigm. They saw the opportunity to invest heavily in the state, taking advantage of the weak economy and depressed prices. Rochester Hills, Michigan, is an example of Walgreen’s strategy. Only a few years ago, this city of 70,000 did not have one of their stores. By 2006, Walgreen’s will complete a strategy to have four stores within city limits. The strategy was to locate stores using a parameter mentality, and a merchandise mix recognizing the local economy.
Both CVS and Rite Aid have experienced lost market share, greater than the increase in competition. Neither chain is growing in Rochester Hills, although CVS did move one store from the center of a strip shopping center to a new location in the parking lot.
According to high-ranking sources in Walgreen’s Michigan region, there is a strong belief that by moving in now with the right merchandise mix and locations, the chain will be strongly positioned once the Michigan economy rebounds.
Where CVS and Rite Aid see a need for cautious survival strategies, Walgreen’s sees an opportunity to grow and thrive. The lesson is obvious. Instead of whining about the economy, looks for ways to adjust your product offering to the times,
The brands are coming! Their arrival has been evident in our supermarkets and on the main streets of our towns and cities for some time now. It started as a trickle, led by the makers and the retailers of consumer goods, but it has more recently become a fast moving torrent that races headlong through almost every business and walk of life. In certain respects, it has come later to
CVS and Rite Aid decided to ride out Michigan’s economic storm, setting aside little capital to revitalize or grow their Michigan stores. Although seemingly an intelligent viewpoint, it does not display a passion to compete and grow over the long haul.
Walgreen’s Pharmacy saw Michigan through a different paradigm. They saw the opportunity to invest heavily in the state, taking advantage of the weak economy and depressed prices. Rochester Hills, Michigan, is an example of Walgreen’s strategy. Only a few years ago, this city of 70,000 did not have one of their stores. By 2006, Walgreen’s will complete a strategy to have four stores within city limits. The strategy was to locate stores using a parameter mentality, and a merchandise mix recognizing the local economy.
Both CVS and Rite Aid have experienced lost market share, greater than the increase in competition. Neither chain is growing in Rochester Hills, although CVS did move one store from the center of a strip shopping center to a new location in the parking lot.
According to high-ranking sources in Walgreen’s Michigan region, there is a strong belief that by moving in now with the right merchandise mix and locations, the chain will be strongly positioned once the Michigan economy rebounds.
Where CVS and Rite Aid see a need for cautious survival strategies, Walgreen’s sees an opportunity to grow and thrive. The lesson is obvious. Instead of whining about the economy, looks for ways to adjust your product offering to the times,
In my professional experience as a sales and marketing coach/consultant, I've had the opportunity to work with a number of small business owners on various issues related to sales and marketing. The owners who are struggling to keep their businesses afloat tend to engage in some, or all, of the following mistakes that reduce profitability.Mistake #1: They fail to market or m
Walgreen’s Pharmacy saw Michigan through a different paradigm. They saw the opportunity to invest heavily in the state, taking advantage of the weak economy and depressed prices. Rochester Hills, Michigan, is an example of Walgreen’s strategy. Only a few years ago, this city of 70,000 did not have one of their stores. By 2006, Walgreen’s will complete a strategy to have four stores within city limits. The strategy was to locate stores using a parameter mentality, and a merchandise mix recognizing the local economy.
Both CVS and Rite Aid have experienced lost market share, greater than the increase in competition. Neither chain is growing in Rochester Hills, although CVS did move one store from the center of a strip shopping center to a new location in the parking lot.
According to high-ranking sources in Walgreen’s Michigan region, there is a strong belief that by moving in now with the right merchandise mix and locations, the chain will be strongly positioned once the Michigan economy rebounds.
Where CVS and Rite Aid see a need for cautious survival strategies, Walgreen’s sees an opportunity to grow and thrive. The lesson is obvious. Instead of whining about the economy, looks for ways to adjust your product offering to the times,
As a business coach I have written a great deal about building a higher performance venture, creating breakthroughs, inventing the future, and generally moving faster than the speed of change -- or at the very least -- moving faster than your competitors.The most important thing you can do now - right at this moment - is get moving on something that's going to make a big, a
Both CVS and Rite Aid have experienced lost market share, greater than the increase in competition. Neither chain is growing in Rochester Hills, although CVS did move one store from the center of a strip shopping center to a new location in the parking lot.
According to high-ranking sources in Walgreen’s Michigan region, there is a strong belief that by moving in now with the right merchandise mix and locations, the chain will be strongly positioned once the Michigan economy rebounds.
Where CVS and Rite Aid see a need for cautious survival strategies, Walgreen’s sees an opportunity to grow and thrive. The lesson is obvious. Instead of whining about the economy, looks for ways to adjust your product offering to the times,
Culture Surveys. A very powerful tool to get inside the minds of your staff … and then remove all responsibility from them.I was speaking with a friend the other day and the subject of culture survey came up. His company had completed one recently and the numbers were down … way down!To the company’s credit they decided a no holds barred approach was
Where CVS and Rite Aid see a need for cautious survival strategies, Walgreen’s sees an opportunity to grow and thrive. The lesson is obvious. Instead of whining about the economy, looks for ways to adjust your product offering to the times, and position yourself to thrive once the economy rebounds, or your competition succumbs on their unsuccessful pathway of survival.
Many Michigan-based companies are finding ways to attract out-of-state customers. At Max Impact, a human potential development company has made two strategic moves to thrive despite local economic conditions. The company has aligned itself with Macomb Community College to offer online customized corporate training programs, carrying CEU credits for the participants. They have also increased marketing of executive and professional coaching, which is done via the telephone, outside of Michigan. While many of their competitors struggle, the Max Impact is seeing double digit sales and profit growth.
It’s not about the economy. It is about seeing the total business environment and developing a strategy to position for the present and future.
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