Well, that’s an odd question to start a blog with. But think about it for a moment. We all think we’re pretty smart, after all, we’ve never been smarter than we are at this moment. As long as we’ve lived, we’ve been accumulating knowledge and by now we’ve got a lot of information to help us with everything we face, so we’re pretty smart… right?
A long time ago, I realized how smart I was. The truth is that the smarter you are, the more you realize how little you know. And the reverse is true as well. The less you know, the more you think you know everything. So, being quite smart, I realize what I do know about and what I don’t.
Another aspect is how you gain knowledge. Much of our knowledge is gained by experience. Again, as I look back over my years, I realize how little I knew at each juncture in my personal and business career since I kept trying new things without totally understanding the potential outcomes. But for me it was all new and I was always learning and growing. For many, they have many years of experience, but keep repeating the same thing over and over. There’s no growth in that method.
One sign of intelligence is seeking the wisdom of others and adding that to your “bag of tricks”. Using the experience of others will save you many mistakes and enhance your wisdom and decision making. You must not let your ego get in the way of making good decisions or employing tools to help you in your job. We all have our limitations and you must put your abilities where they can do the most good rather than wasting your time trying to “reinvent the wheel”.
So how does all of the above tie into retailing? After 30 years of dealing with retailers, I’ve found that many of them feel that they can plan their buying in their head. Anyone that says that is allowing their ego to stand in the way of their success. Almost all retailers are in the business because of their creativity. They have a vision of offering unique merchandise in a unique environment. Many achieve their vision because of their creativity. The smart ones not only achieve their vision, but also achieve success because they do their buying on a foundation of numbers that are built to support sales and achieve ever higher turnover. These open to buy principals are critical to the success of any retailer. Without open to buy you’re just guessing and that never works.
There are many services and software programs that are available to retailers to help them with their open to buy planning. MYOTBPLAN.COM offers retailers an understandable, easy to use system that is more accurate, more accessible, more affordable, better supported than other systems available. And we’re the only one Guaranteed to improve your buying, inventory position and cash flow or we’ll refund your payments.
If you’re truly a smart retailer, you’ll seek the one system that will support your creativity and insure your financial success – MYOTBPLAN.COM.