Retail Observer

April 2019

The Retail Observer is an industry leading magazine for INDEPENDENT RETAILERS in Major Appliances, Consumer Electronics and Home Furnishings

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RETAILOBSERVER.COM APRIL 2019 4 Eliana Barriga eliana@retailobserver.com Here's to successful strategic planning! fallback - Wiktionary: An act of falling back. Having a backup plan or contingency strategy; an alternative which can be used if something goes wrong with the main plan; a recourse if you will, can be imperative to survival. Y ou know – life happens with or without us. It gets in the way and at any time can throw us a curve ball in the form of the unexpected. This is when we need to fall back and assess the situation. In life, it's always good to know where the escape routes are in case of emergency. Every time we get on an airplane, we're told where the exits are. Sadly, when we go to a stadium for a sporting event, concert, or even a movie theater nowadays, we have a heightened awareness of our surroundings and we take mental note of the exits. We don't plan on using them, but the information is filed for easy access in the back of our mind. We are prepared to act, if the need arises. There are times when nothing in life goes smoothly, and it is during these times that we are often not able to access our best thinking in the moment. How often do we use our precious brainpower to think about all the ways something won't work before we've given it a fair chance? Planning in advance for the weaknesses of our businesses and analyzing the most common breaking points can help us navigate in challenging times. Swapping plans doesn't signal failure but indicates a tactical change; we're simply proving we've got the smarts and decision-making skill set that are crucial to every area of our lives and business. A fallback plan gives us the ability to keep moving forward on the path to success. With Plan B in place, we can access a mind shift that allows us to fall back when the "stuff" hits the fan. In this moment, let yourself ponder the thought: "There is no backup plan". This exercise will put you in a proactive mental frame: "We've got to make things happen". You're more apt to work stronger and longer when your Plan A has to work because there's no option. Total commitment without a safety net will inspire you to work harder than you ever dreamed. Plan B isn't about planning to fail, it's about planning your road to success during the difficult times. We can sleep better at night with a backup plan in place – the beauty of Plan B is that it frees us to work our Plan A with total abandon and strategically maneuver through the storms of life. CREATE A PLAN B and work as if you don't have one Elle's View As I See It APRIL 2019, VOLUME 30, ISSUE 4 CELEBRATING OUR 30 TH YEAR AS THE RETAIL OBSERVER PUBLISHER/MANAGING EDITOR E LIANA BARRIGA DIRECTOR OF SALES AND MARKETING MOE LASTFOGEL ART DIRECTOR TERRY PRICE CONTRIBUTING WRITERS CHAD EVANS MARIO JUAREZ LANCE KIMBALL ANDY KRIEGE STEVEN MORRIS JEFF ROSE DENNIS SHIELDS JOHN TSCHOHL LIBBY WAGNER RALPH WOLFF DEADLINE FOR JUNE 2019 ISSUE: MAY 1, 2019 THE RETAIL OBSERVER 2764 N. Green Valley Pkwy, Suite 508 Henderson, NV 89014-2121 800.393.0509 • 702.208.9500 Fax 702.570.5664 production@retailobserver.com info@retailobserver.com www.retailobserver.com To receive a copy of The Retail Observer online, or to unsubscribe, please go to www.retailobserver.com/subscribe The Retail Observer website is hosted by Market Digitally Printed on Recycled Paper THE RETAIL

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