THE JOURNEY YO REMARKABLE RETAIL

Steve helps organizations understand and respond to retail disruption by creating customer-centric, memorable and profitable growth strategies.

Watering dead flowers

Many of us seem to be praying to a god of unending, unrelenting perseverance.

If your social media experience is anything like mine, it’s not long before some form of never-give-up-ism hits your timeline. Then, most often, that person’s followers pile on with a hearty “you go girl”, #staystrong or encouragingly pithy aphorism (“it’s only a failure if you give up!”)

Not only is this way of thinking often wrong, it can go completely against our own best interests.

To be sure, grit and determination are admirable qualities. And you can count me as a super fan of working hard on the right things.

Nevertheless, failure IS an option and quitting is vastly underrated.

When I work with individuals and organizations two things typically prevent them for achieving the outcomes they need and desire: an inability to get started on important new initiatives and an unwillingness to let go of efforts that no longer serve them.

There are all sorts of reasons we cling to people and/or things long past their expiration dates. Our egos are too wrapped up in a particular outcome. We fail to ignore sunk costs. We don’t adequately understand opportunity cost. We’re afraid to admit that what got us started in the first place is no longer a valid reason to continue. We fundamentally misunderstand our ability to change things outside of our control. And so on.

Like it or not, we only have so much time. We only have so many resources. Attention remains our most valuable asset.

We should only water the flowers that have the potential to grow.

Physical stores: Assets or liabilities?

Physical stores: Assets or liabilities?

Of course the obvious answer is “well, that depends.” As the intersection of economic feasibility and consumers’ willingness to adopt new technology hit a tipping point, for retailers that had invested big bucks in the brick-and-mortar distribution of music, books and...

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The Ticking Time Bomb Of E-commerce Returns

The Ticking Time Bomb Of E-commerce Returns

Returns have long been the nemesis of many retail brands. When a product is returned or exchanged, not only does the retailer experience incremental supply chain costs, but often the item cannot be resold at the original price owing to damage, wear and tear, or...

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"The Store Operations Council enjoyed every minute of Steve Dennis's presentation on retail's future. He always keeps it real and speaks the language of retail experts."

Cathy Hotka

Principal

Cathy Hotka & Associates

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"The Store Operations Council enjoyed every minute of Steve Dennis's presentation on retail's future. He always keeps it real and speaks the language of retail experts."

Cathy Hotka

Principal

Cathy Hotka & Associates

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