Businesses have more in common than you think. Often times, we get bogged down on the amount of resources another business has access to, or how different their products are.
This happens in the craft industry as well. Owners of a quilt shop think they have nothing in common with a needle shop, or (in some eyes, especially) a boutique.
Every business is unique, but our problems aren’t. Common problems, like dealing with landlords, insurance, inventory, etc. are problems every business faces.
Read on to discover what you can learn from the next guy.
Translate common ideas
Do you ever read business books about Nike or Coca-Cola and have a hard time translating the concepts into your own business? Even though our businesses operate on a much smaller scale, some of the common themes (such as consistent training, empowerment, etc) still apply.
This includes how other industries have learned to innovate as well. Instead of a wine tasting, have a fabric tasting. Instead of renting tools and equipment, rent out your long arm machine quilter. Simply ask yourself “how might that work for my business?”
Plan, evaluate, repeat
Once you start thinking of ideas, it can be easy to want to implement them all. Start with one to make sure you do it well. Evaluate the idea once it’s at its first evaluation stage to see if the idea is worth keeping in your store. If it’s not, scrap it and move to the next one.
Inspiration for this post came from “Play Big!” by Gwen Bortner published in the October 2020 issue of American Quilt Retailer.
If you’re looking for more information to guide you in owning a retail business, subscribe to American Quilt Retailer today. Already a subscriber? No worries—join our Facebook group for insights and dialogue from industry specialists like you.
