Battle of the season. How to mobilize and act effectively in times of crisis.
25.11.2015 5031

Battle of the season. How to mobilize and act effectively in times of crisis.

In what direction is the current economic situation developing and how is it reflected in the fashion market? Is company optimization possible in a crisis? How to work and motivate staff in a crisis? What low-budget tools to choose to attract customers and increase sales? These questions are answered by the Director General of Clever Fashion Consulting Company, Maria Gerasimenko.

The market is losing major players

Why do some companies and stores go bankrupt, while the performance of others rises, despite the crisis unfolding and contrary to all forecasts? A lot of factors influence the future of the company and its life cycle - from macroeconomic factors, which the store owner or the management company of the retail chain cannot influence, to trivial miscalculations in managing business processes within the company, incorrect development strategies, mistakes made by marketers, procurement specialists and sales, staff recruitment. Alas, no one is safe from mistakes - neither large companies, nor individual entrepreneurs.

Crisis: what to do?

The economic downturns of 1998 and 2008 were cyclical: the market fell - the market rose. Today we are dealing with a turbulent crisis. He has no bottom, he covered all aspects of life, showing the ineffectiveness of internal management, accompanied by isolation, falling oil prices, sanctions.

In these circumstances, the success of a business depends on the leader himself! And the question arises, what personal qualities and special competencies become critical for a business leader, necessary for decisive actions during the crisis, in addition to the desire and ability to take responsibility, leadership and professional qualities? We will try to briefly answer this difficult question. 

1. Develop emotional intelligence

Emotional intelligence is a person’s ability to recognize, “read” the emotions, intentions and motivations of other people, establish contact with them, receive the necessary information from them and lobby their interests through them. A leader who takes risks and makes decisions in his own business, it is vital to master the art of communication, and, accordingly, developed emotional intelligence. 

2. Learn to act in chaos

In a crisis period, it is difficult to plan and predict something. Your previous experience is powerless, the postulate “I succeeded then and now succeed” no longer works. Therefore, the "musical instrument" of the business must be tuned to a new, incomprehensible and chaotic rhythm.

The time of chaos is negative for those who are not ready to change their model of behavior, hold on to their stereotypes and do as they used to, they work “the old fashioned way”. For those who are ready for change and boldly accept the challenge of time, this is a time of new opportunities, the opening of a second wind and hidden potential.

The advice is this: move slowly, but keep all your “antennas” turned on. Turn on visual memory, listen carefully to people, make connections with everyone you have to deal with at work - perhaps somewhere among these people will be your future business partner. This technique includes calmness and a willingness to jerk at the same time.   

3. Work on creating a dream team

Work hard to create your dream team. This means that it is necessary to involve each employee in the process of making a profit, move from the division of labor to its optimization, so that every person in the company does as much as possible and works more efficiently. With this option, the organization of the labor process, you will automatically get rid of lazy and boring employees. Subject to participation in obtaining a share of the profit, the team may agree to work without a salary. That is, you include other motivational mechanisms in people. It is these teams today have a chance to survive in the market. When working in this direction, you don’t need to look for a “freebie” and try to “squeeze” the maximum of the most effective out of your partner, the main thing is to find an honest person like you and start an honest cooperation with him.

4. Invest in effective employees

Focus on talented employees, invest in the most effective of them. These people will help you survive the crisis, but not every employee is able to be effective. All contractors who are not interested in the general business of the company will have to say “Goodbye!”, And all effective employees must be motivated and interested.

5. Do not strive for huge profits

Focus on the profit margin of 10-15%. Buyers are hiding, saving, but why? Not because they have no money. The instinct of self-preservation works, and even the most frivolous people become thrifty and economical: as long as the crisis continues, no one will spend too much.

6. Create a world of good news around you

More than one year of crisis and confusion awaits us. A good way to learn how to calmly respond to stress is to stop telling friends and colleagues how everything is bad, and also to collect such negative things from others. You need to learn how to switch pessimistic people in your environment at home and at work to positive and strive to absorb only positive, optimistic information every day. 

In what direction is the current economic situation developing and how is it reflected in the fashion market? Is company optimization possible in a crisis? How to work and motivate staff in a crisis? ...
3.92
5
1
12
Please rate the article

Materials on the topic

How to implement sales funnels in the shoe business

Attracting customers and retaining them is the most important driver of sales growth in any business. Typically, companies allocate an advertising budget as a percentage of total revenue. On average, this percentage varies from three to five. And if the company...
21.11.2023 2238

Effective methods that will help improve the effectiveness of sellers

Many store managers face the problem of staff burnout who work on the sales floor. Previous motivation schemes for salespeople - “salary +%” no longer work today, and therefore new ways are needed to interest employees...
30.10.2023 3396

Service in the store: successes and mistakes

What is service in a fashion store? What are customer expectations from shopping today? And how do the quality of services provided, and, therefore, the level of sales and store revenue depend on the competence and motivation of salespeople? SR Sales Expert and…
24.10.2023 2938

How to determine the amount of shoe purchases for the next season?

At the beginning of the purchasing season for a new collection, buyers are faced with a difficult task: they need to take responsibility and decide how many shoes to purchase so that it is enough to fulfill the sales plan, and at the end of the season to reach the established norm...
18.07.2023 3794

Five rules of professional lighting for a shoe store - something that is relevant in any season

When developing a lighting concept for shoe retailers, it is important to take into account not only the history of the brand, the architectural content of the premises, the target audience of the stores, but also the seasonality of the product. With the onset of the cold season, client preferences change...
30.05.2023 5181
When you sign up, you will receive weekly news and articles about the shoe business on your e-mail.

To the beginning