(Buenos Aires, Argentina)
Learn from our mistakes...Focus on giving your customers what they REALLY want plus four other tips that will help make your dreams of starting a retail businessa success!
Be very careful with the merchandise you are getting, your reputation is on the line and thus you will need to control it's quality.
If you do not have the means, then look for someone who can test it and give you a true opinion.
Do not fill your place with the merchandise you think will sell well.
Starting a retail business means that you are providing your customers with the items that they really want...not what you think that they will really want.
Always wait until you REALLY know what your customer needs.
You see, my sister was so excited to own her own lingerie shop that she started investing in the things she thought others would buy.
But, to her dismay, when she finally opened, she didn't have those items that her customers were specifically looking for.
After loosing so many potential sales, my sister realized that she should have opened with the basics, and allowed her customers to tell her what it is that they wanted.
When my sister opened her lingerie shop, she did not notice that the quality of the fabric was not good...bit her customers did.
Learn from her mistakes: Never underestimate customers, most times they know how to recognize the failures of a product.
If you are not patient enough to deal with the public, find someone who is.
There is another lingerie shop in the same block as mine that I often refer my customers to.
When I do not have a product, I suggest people to go to that shop and ask if they have it.
But to my surprise, my customers informed me that they will not go to my competitor's shop because it's owner won't treat them right.
Oh...and, though this point might sound pretty obvious, starting a retail business requires that you follow the golden rule: "Treat others the way you like to be treated."
This strategy definitely pays off in the long run!
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