Hardware Retailing

OCT 2017

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

Issue link: http://hardwareretailing.epubxp.com/i/877991

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Page 76 of 120

HARDWARE RETAILING | October 2017 72 T he Major League Baseball playoffs are in full swing, and fans are gathering to watch their favorite teams compete for a spot in the World Series. Baseball is full of strategy, but the course of a game can change quickly, which means players and coaches need to be prepared. This same outlook can be applied to running a business, so we compiled these 10 winning lessons that baseball can teach you about your own business. Business Tips You Can Learn From Baseball 10 10 Don't be afraid to strike out. Maybe you recently brought in a new product that didn't sell well or hosted an event that didn't go as planned. Don't be afraid of that third strike. Even if you make decisions that don't pan out, stay in the box and keep swinging. It's the only way you'll ever hit a home run. Train your batting eye. The best hitters are those who can make the split-second decision on whether to swing at a fastball right down the middle or pass on a ball outside the strike zone. These players are patient, and they wait for the right moment to swing the bat. Decisions like adding a new product line and making a new hire require research and planning. You may never need to make these decisions at 90 mph, but you can develop your senses to know when to take a swing or wait for the next one. Give fans an experience. Each team has 81 home games in a season, but often it takes only one game to create a lifetime fan. From how your staff greets customers to store cleanliness and the speed of the checkout process, a memorable, positive experience is one way you can turn a casual shopper into a loyal customer. Anticipate the next pitch. Retailers are always looking for the next big thing, much like batters are always anticipating what type of pitch will be thrown their way next. Sometimes you'll guess correctly, and sometimes you'll swing and miss. To help you get ready, consider attending a market, taking NRHA training courses or sharing ideas with other retailers. Digging in and doing some initial groundwork will help you at the plate.

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