Retail Observer

RETAILOBSERVER.COM JANUARY 2017 64 I 've been writing columns for independent retailers since the mid-'70s. That's probably more than forty January issues. I almost always write a list of New Year's resolutions that might help my readers focus their efforts in the coming year. In these New Year messages, I often suggest a redoubled effort to train your sales team or develop a longer term business plan. Or create and communicate concrete sales goals—like closing rate, margin and extended warranty penetration—and a coaching system that encourages performance improvement while ensuring managers have regular one- on-one time with every associate. Some years, I will urge my readers to hone their marketing—improving websites, digital marketing campaigns, and create highly-targeted advertising programs. I've also suggested spending more time analyzing financial statements so that you can quickly respond to changes that adversely impact your business. I've written about the value of community involvement and cause marketing—even paying your employees for volunteer hours they perform. And about the importance of store cleanliness and the need to continually update your physical plant. And I always include something about the importance of sleep, healthy eating, exercise and fitness. These are all critically important things to consider putting on your to-do list but this year I'm going to suggest a different strategy. Instead of taking on a laundry list of projects, find that one big thing that can propel your business and concentrate on doing that successfully. As much as we think that we're superheroes who can tackle a hundred things at once, research now shows that efficiently and successfully multi-tasking is a myth. Although we can do a number of automatic functions at once—think walking, eating and perhaps even driving—conscious tasks that aren't routine and memorized within our brains need to be done one at a time. According to Dr. Amit Sood at the Mayo Clinic, "automatic" tasks are assigned a permanent place in the subcortal networks of our brains. They are almost mechanical in nature. In unfamiliar situations, the brain toggles between different functions trying to process the new task and access the information needed to solve new problems. Each toggle depletes brain energy. Dr. Sood's studies show that multi-tasking: • Increases stress. • Fatigues the brain. • Impairs your ability to do any tasks well. • Deprives you of the deeper meaningful experience of completing a new challenge. • Increases the risk of errors. Sood also warns about the dangers of multi-tasking in high stakes situations. Your business is certainly a high stakes endeavor. This may explain why so many New Year's resolutions fall by the wayside by February. You're trying to eat healthier, get more exercise, set new sales goals, remodel your store, find incremental ways to add to your bottom line and start to think about a succession plan. The brain just can't handle everything you're throwing at it. You get frustrated and return to old, known, repetitive habits. So this year, I'm suggesting one big thing to address. Or perhaps one personal challenge and one business resolution. Once you've decided what to tackle, spend some real time planning how you're going to do it: • Set a specific, measurable goal. • Establish a timeline. • Put your plan in writing and share it. • Review and audit your progress at least once a month. • Celebrate milestones. • Reset goals when you reach your target. This is my plan for getting ahead in 2017. I'm sure by focusing my efforts rather than trying to do too many things at once, I'll get more big things accomplished more quickly. I hope it works for you. Best wishes for a happy, healthy and prosperous 2017. Elly Valas is an author, speaker and retail consultant. She can be reached at elly@ellyvalas.com or 303-316-7568. Elly Valas Retail Views RO THE ONE BIG THING

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