Hardware Retailing

MAY 2017

Hardware Retailing magazine is the pre-eminent how-to management magazine for small business owners and managers in the home improvement retailing industry.

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T here are some exercises in life that can be both joyful and depressing at the same time—take, for instance, seeing your youngest child head off to college or maybe eating an entire pizza by yourself while watching Netflix. But there is one of these self-inflicted events that most everyone has engaged in at one point or another: the old "If I won the lottery..." conversation. One thing I find fascinating about this subject is hearing all the things people would do with their found riches. Almost all of us start with an altruistic binge: helping family, friends, the church and other charities. Once these obligatory niceties are out of the way (and we've made sure others are impressed with our giving hearts), we move on to the fun stuff. The cars. The trips. The toys. Recently, the organizers of the National Hardware Show ® asked independent home improvement retailers to play a real-life game of "what if" as part of their Reimagine Retail program. This month, at the National Hardware Show in Las Vegas, they are awarding $100,000 to one independent home improvement operator to realize his or her dreams. There are a number of reasons the National Hardware Show is sponsoring this program. For starters, they recognize how important independent retailers are to the overall health of the home improvement industry and want to encourage innovation within the channel. Second, they want to really cast a spotlight on all of the fantastic ways independent operators continue to advance the retail model. This is the first year of the Reimagine Retail program, and the National Hardware Show has said they would like it to be an annual event tied to the show. After the winner is named at this year's show, we plan to follow their story and share insights into how the project came together and the ultimate impact it has on their operation. We also hope to share some of the other exciting ideas from other entries to help create a sort of "idea bank" for possible business improvement projects. I am very excited to have a small role in this process, and it will be rather thrilling to watch a retailer see their concept become reality. Outside of what happens to the winner of the Reimagine Retail program, though, I want to pose one more question about the whole lottery conversation: If your lottery-fueled dreams are to write the next great American novel, sail the Caribbean or visit the Grand Canyon, why wait for the winning ticket? Sure, having all the money in the world can help fund your dreams, but not having the money handed to you doesn't necessarily end them. Are there other ways you can achieve your vision? If so, how do you start working toward them, hour by hour, day by day, until you reach them? The same is true for your business. If you have a vision of where you want to take your operation, you can't wait to win a prize. You have to start finding a way to make those dreams a reality. You might not reach your goal as quickly as you would like, or the path to it might not be so smooth, but if it is truly your dream, nothing should stop you from getting there. Why not start today? Oh, and by the way, if I win the lottery, I hope you like whomever they find to write this column next. I will be too busy guzzling rum drinks out of a coconut on my yacht to do much writing. Dan M. Tratensek, Publisher dant@nrha.org Dream a Little Dream Taking Care of Business " You might not reach your goal as quickly as you would like, or the path to it might not be so smooth, but if it is truly your dream, nothing should stop you from getting there. " HARDWARE RETAILING | May 2017 12

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