Tag: goal

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Executive Retreats

executive retreat

Running a business can be overwhelming, and getting bogged down in day-to-day details can hinder strategic thinking. Sometimes, taking a step back and creating space is essential to moving your business forward. That’s where an executive retreat comes in. In this post, we cover five ways to structure an executive retreat for your business.

  1. Define your goal: Before scheduling an executive retreat, identify what you want to accomplish. This could be anything from generating more revenue to planning a marketing event or scheduling classes for the upcoming quarter.
  2. Choose the right space: When choosing a retreat location, ensure that it is a place where you can focus without distractions. (For some, this may mean avoiding your home!) Consider all your options such as library study rooms or an Airbnb.
  3. Clear your mind: A helpful way to declutter your mind is to make a to-do list. Write down every task you can think of, and then review it. If a task only takes a few minutes, do it later. For tasks that require deep focus or multiple steps, consider adding them to your retreat agenda.
  4. Schedule the time: It can be challenging to dedicate three to four days to an executive retreat. If that’s the case, consider breaking up your retreat into 90-minute to 3-hour sessions.
  5. Get to work: It’s time to start your retreat! Don’t forget to take breaks, such as going for walks or watching some Netflix. However, during your work sessions, consider using a site blocker to eliminate any temptations.

Executive retreats are an excellent way to provide space for strategic thinking to move your business forward. By following this outline, you can ensure your first executive retreat will be a successful one.

Inspiration for this post comes from Christy Nelson’s article “Make Time for Executive Retreats,” published in the April 2023 issue of Creative Retailer. Christy Nelson is the owner of Makit Takit, a craft studio in Lincoln, Nebraska.

If you’re looking for more information to guide you in owning a retail business, subscribe to Creative Retailer today. Already a subscriber? No worries—join our Facebook group for insights and dialogue from industry specialists like you. And don’t forget, you can always purchase single issues if you prefer that instead.

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Sales Opportunity or Trap?

sales opportunity or trap?

Not every investment is a wise one, but that’s hard to remember when you’re fighting for a positive cash flow. Try the below exercise to find out if your next big idea is a sales opportunity or trap.

Step 1

Write the following at the top of a piece of paper:

  • Your vision for your business
  • Your 10-year business goal
  • Who you serve
  • What you sell

Step 2

Next, ask yourself the following questions. I find it helpful to write these on the left side of the same piece of paper:

  • How will my idea impact the business in the next 10 minutes?
  • How will my idea impact the business in the next 10 months?
  • How will this impact the business in the next 10 years?
  • Does it help me reach my vision in 10 minutes, 10 months, or 10 years?
  • Does this opportunity allow me to serve my customers in the next 10 minutes, 10 months, or 10 years?
  • Does it align with or complement what I sell?

Step 3

Now, think of your idea and run through each of these questions. If for each idea you can honestly answer yes, then it’s an opportunity. But if you have any doubt, forget about the idea—it’s a trap. If you run out of ideas, then it’s back to the drawing board. For more ideas, ask customers, employees, and even other stores for their thoughts.

On the other hand, if there are multiple ideas that work, then start with the one that will have the biggest impact in the next 10 minutes.

Inspiration for this post comes from “Opportunity or Trap” by Jacob Curtis, CPA, published in the February 2023 issue of Creative Retailer.

If you’re looking for more information to guide you in owning a retail business, subscribe to Creative Retailer today. Already a subscriber? No worries—join our Facebook group for insights and dialogue from industry specialists like you. And don’t forget, you can always purchase single issues if you prefer that instead.

If you still can’t get enough, register for the Creative Retailer LIVE Spring 2023 event May 2-4 in Pawhuska, Oklahoma for opportunities to learn from peers and network with industry professionals.