There are so many books and references out there that discuss how to manage your business. Well-known entrepreneurs or others write some by business experts. As a business owner, you should be reading these books to sharpen your skills and keep abreast of the changes in the business world. I know many of you will say “I have no time to read” or “I have just a small business, what good will it do for me?” Someone said “Ignorance is bliss” and unfortunately many of you remain in this blissful state.
The business world is changing. You might not embrace it but doing things “the old way” is truly a detriment to your business. Technology in the dry cleaning industry is changing. Our customers are changing. Ways of communicating with our customers is definitely changing. You need to be ready and one step ahead in order to survive in business. This industry will never be like it was. That is why it is a necessity for you to change with it. I believe we still have not seen the ultimate shake down in the dry cleaning industry. So many dry cleaners have disappeared in the last 10 years. I want you to be around in the next 10 years. Something simple like reading can help you keep up with current trends and help you plan for the future. .
I recently re-read the book The Wall Street Journal Essential Guide to Management by Alan Murray. The book was easy to read. It emphasized how important the management of your business is. Although you might not have all the answers, you need to have the confidence and willingness to make changes. There are many useful principals in this book. I will just mention a few.
Primarily, you need to be flexible. Your company should be a written mission statement. Do you have a mission statement? Do you know what a mission statement is? I don’t want to insult you but you may not know. A mission statement defines your company’s goals, ethics and culture. It should also include what your company does for its customers, what it does for its employees and what it does for its owners. The mission statement needs to be looked at regularly and evaluate if you are on track. Sometimes it may be time to update the statement. This statement is the backbone of your business. It reinforces why you are in business. It also keeps you and your employees on track to work as a team to achieve the goals.
You have a computer, right? I am sorry to say there are STILL some cleaners out there that do not have a computer. Unbelievable but true. These businesses will be some of the ones that will not be around in the future. If you have a computer, do you make use of the reports available to you? So often, in talking with other business owners, I find they DO NOT use the reports available to their advantage. You need to run these reports and study them. Gather the data and it will give you the answers on how to grow your business. These reports will tell you so many things: how many customers you have, their spending habits from the largest big tuna to the smallest minnow; who has not been in lately, these are just a few reports available. If you are not sure how to obtain this data, call your computer company. They should help you determine what you want.
If you do not use these reports, you are not much better than the dry cleaner that does not have a computer!
Your staff is critical to the success of your business. You need to interact with them, be on the floor and stay involved. You need to encourage them to be honest with you. Observe your employees. They must be cross-trained because your staff needs to be lean in this business climate. Keep the best employees and get rid of the marginal employees. There is no room for them in your organization. Encourage and give more responsibility to the best.
Planning for contingencies is a big one. If your equipment breaks down, do you have a relationship with a neighboring cleaner to help? If you run out of a critical supply, will they be willing to lend you some? Make friends with some of your competitors. It will benefit both of you. Keep extra cash and other resources available for emergencies. This will become increasingly important. Joining your local Dry Cleaners Association is important. You can network with other dry cleaners that can help you in the event of an emergency.
Most of all, the author Alan Murray states nothing is a good substitute for common sense. Use your own judgment. Rely on your gut feelings. If you are wrong, learn from it and move on.
These are just a few of the points you will find in The Wall Street Journal Essential Guide to Management. Browse through the book. If does not seem like something you want to read, there are so many other books available. But it is important to start reading so you can be ready for the future. Set a goal to read one book pertaining to your business every quarter. This is a good way to start. I want you to be around for years to come and I know you do too!
