OK, this blog post requires participation. Ready?
Raise your hand if you actually enjoy flossing your teeth. As I expected, I don’t see any hands.
Now, raise your hand if you (and your dentist) are pleased with the results of your flossing. As I expected, I see everyone’s hand.
So, what do flossing and open to buy have in common? Well, not too much except that no one enjoys the process and everyone enjoys the results. There are many things that must be done in life that are not really enjoyable, but are necessary and if doing them becomes a habit; the results are well worth the effort.
There are many things involved with running your store that fall into this classification. You didn’t really plan on doing these things when you opened your store and most retailers think only of the creative aspects of retailing. The layout, displays, merchandising, music, advertising, being exposed to the new merchandise when it’s just being born at trade shows, these are the stuff of retail dreams of success.
And while that entire wonderful creative euphoric dream keeps us alive, it is the underlying grunt work of retail that keeps us successful. And one of the most important of these underlying, supportive jobs is open to buy planning. And, yes, it’s a lot like flossing in that it must be done on a regular basis to ensure that your inventory stays clean, fresh, correct, and turns regularly, so buildup doesn’t choke off your cash flow.
The results of flossing will result in great dental checkups and long, happy service from your teeth. The results of open to buy planning will result in leaner, better balanced, faster turning inventory, more targeted buying, fewer markdowns and a positive cash flow. So, it’s well worth the non-creative energy that must be spent on open to buy to allow you to reap the enjoyment that comes from creatively merchandising your store within the guidelines of your open to buy plan.
myotbplan.com has been developed and designed to be as little like flossing as possible. The time spent on the system is minimal, but the results are enormous. It’s certainly not an everyday endeavor and you will find that you actually enjoy the process as it allows you to see so many things about the numbers underlying the merchandising of your store. And merchandising is what you’re all about.