1 00:00:01,360 --> 00:00:04,680 This episode of the Resilient Retail Game Plan is brought to you by 2 00:00:04,680 --> 00:00:08,280 Sumup, the ideal payment provider for growing businesses 3 00:00:08,280 --> 00:00:12,080 like yours. SumUp's got payment solutions that work for everyone 4 00:00:12,400 --> 00:00:15,959 from pocket sized card readers to full till setups. They've got you 5 00:00:15,959 --> 00:00:19,680 sorted. Multi network connectivity means your devices stay 6 00:00:19,680 --> 00:00:23,480 online and never miss a sale and with transparent pricing 7 00:00:23,480 --> 00:00:26,240 there are no nasty surprises or hidden fees. 8 00:00:27,040 --> 00:00:30,760 Start building your setup and get 10% off hardware over 9 00:00:30,760 --> 00:00:34,300 on their online shop with the code gameplan10. 10 00:00:34,620 --> 00:00:38,340 That's gameplan10 valid till the 14th 11 00:00:38,340 --> 00:00:42,180 of February. If you're 12 00:00:42,180 --> 00:00:45,940 doing well on paper but the business feels heavier than it should, growth is 13 00:00:45,940 --> 00:00:49,260 starting to feel stressful rather than exciting, then this 14 00:00:49,260 --> 00:00:52,820 episode is for you. Welcome to the 15 00:00:52,820 --> 00:00:56,540 Resilient Retail Game Plan. I'm Catherine Edley and in the next few minutes 16 00:00:56,540 --> 00:01:00,220 you're about to get powerful real world retail strategies from 17 00:01:00,220 --> 00:01:04,060 insights shared both from my guests and myself, backed up by my 18 00:01:04,060 --> 00:01:07,820 25 years in the retail industry. Keep listening to learn how to 19 00:01:07,820 --> 00:01:11,620 grow a thriving, profitable product business. Let's jump in with 20 00:01:11,620 --> 00:01:15,180 this latest episode. Today I want to talk about something I'm 21 00:01:15,180 --> 00:01:18,860 genuinely really excited about and that's Retail by Design. 22 00:01:19,260 --> 00:01:22,700 I am just about ready to kick off the 10th 23 00:01:22,780 --> 00:01:26,540 cohort of my one to one program retail by 24 00:01:26,540 --> 00:01:30,330 Design. And this year I have taken all of my 25 00:01:30,330 --> 00:01:33,930 learnings from working with over 60 businesses across the 26 00:01:33,930 --> 00:01:37,730 last two and a half years. And I have taken 27 00:01:37,730 --> 00:01:41,530 all of those learnings and the work that I've done with people where it's worked 28 00:01:41,530 --> 00:01:45,370 really well and I've made some adjustments to the program and I'm super 29 00:01:45,370 --> 00:01:49,010 excited about that because I feel like this version reflects everything 30 00:01:49,010 --> 00:01:52,690 that I've learned from working with product businesses over the last few years. 31 00:01:54,290 --> 00:01:57,930 So why did I create Retail Bar Design? Well, I launched it originally 32 00:01:57,930 --> 00:02:01,470 in 2020 because I recognized that 33 00:02:01,870 --> 00:02:05,590 I had group programs such as Retail Sales Game 34 00:02:05,590 --> 00:02:09,430 Plan for example, but I really enjoyed working with people in 35 00:02:09,430 --> 00:02:12,990 a much more in depth way. I've actually worked with people as a one 36 00:02:12,990 --> 00:02:16,670 off or as a mentor, ongoing mentor 37 00:02:16,750 --> 00:02:20,310 since 2018, so nearly eight years now. And I 38 00:02:20,310 --> 00:02:23,710 wanted to take that one to one support which I know is really, really important 39 00:02:23,790 --> 00:02:26,870 for when your business gets to a certain point. And I wanted to take it 40 00:02:26,870 --> 00:02:30,440 and put it into a program that was designed to to wrap 41 00:02:30,440 --> 00:02:34,200 around the founder, lift them up and give them the support that they needed. So 42 00:02:34,200 --> 00:02:37,680 that was the original thought process behind Retail by Design. All about 43 00:02:37,840 --> 00:02:41,560 how can I best support founders and give them everything that 44 00:02:41,560 --> 00:02:45,360 they need to succeed and to help them manage some of the stress 45 00:02:45,360 --> 00:02:49,120 points as they grow. There is a stage where people get out 46 00:02:49,200 --> 00:02:53,040 of that feeling of the only thing I need is more sales. Once 47 00:02:53,040 --> 00:02:56,840 they've locked in who their customer is, what product is that they're selling, 48 00:02:56,840 --> 00:03:00,540 they're starting to see some data, decent revenue. The idea that a lot of 49 00:03:00,540 --> 00:03:04,020 us have is that once you get to that six figure stage or whatever it 50 00:03:04,020 --> 00:03:07,460 might be, that it'll suddenly start to feel easier. But it 51 00:03:07,460 --> 00:03:11,140 definitely, in my experience, talking to lots of different people over the years, 52 00:03:11,380 --> 00:03:15,180 it doesn't feel like that it gets heavier, the sales are coming in, but 53 00:03:15,180 --> 00:03:18,580 decisions feel riskier. Things like stock, cash flow, 54 00:03:18,660 --> 00:03:22,460 planning all starts to live in your head. It turns into you reacting instead 55 00:03:22,460 --> 00:03:25,780 of leading. And it's not about a motivation problem, it's a 56 00:03:25,780 --> 00:03:29,480 structure problem. The big phrase with retail by design is what got 57 00:03:29,480 --> 00:03:33,200 me here isn't going to be what gets me there. It's also a recognition 58 00:03:33,280 --> 00:03:37,040 that we can self teach a lot about running a business, 59 00:03:37,280 --> 00:03:40,760 but you will get to the point, especially for product business, where you'll identify that 60 00:03:40,760 --> 00:03:44,360 there are things that you just don't know or you don't know what you don't 61 00:03:44,360 --> 00:03:48,080 know. And all of this can be quite difficult because what happens is as the 62 00:03:48,080 --> 00:03:51,480 business grows and gets more successful, everyone also assumes that you're doing 63 00:03:51,480 --> 00:03:55,300 brilliantly. So it can be harder to find who to ask, it can 64 00:03:55,300 --> 00:03:59,020 be harder to find who can help you see what the path is to move 65 00:03:59,020 --> 00:04:02,860 forward. And it can be harder to find the answers that you need 66 00:04:02,860 --> 00:04:06,700 and the support that you need. Everything that I do is extremely specialized. I only 67 00:04:06,700 --> 00:04:10,260 work with product businesses, I only work with E commerce or bricks and 68 00:04:10,260 --> 00:04:13,940 mortar or wholesale first businesses or people who are a mixture of 69 00:04:13,940 --> 00:04:17,740 all three, which is more common than you might think. So retail by design it 70 00:04:17,740 --> 00:04:21,580 is for established product businesses. They are usually at six 71 00:04:21,749 --> 00:04:25,349 figures or beyond. They are people who have identified that they've got great 72 00:04:25,349 --> 00:04:29,189 products, strong potential, they really understand who their customer is, 73 00:04:29,269 --> 00:04:32,829 they are action takers. But the founder is 74 00:04:32,829 --> 00:04:36,549 beginning to feel stretched, decision fatigued, and they want clarity 75 00:04:36,549 --> 00:04:40,269 and calm, not more tactics. As I said, one of the biggest myths that 76 00:04:40,269 --> 00:04:44,109 I see is people feel like once you hit a certain revenue level then all 77 00:04:44,109 --> 00:04:47,309 of your problems will go away. But what I see instead is that you get 78 00:04:47,309 --> 00:04:51,020 to a certain point where relying on instinct, relying on your 79 00:04:51,020 --> 00:04:54,540 ability to wing things, relying on the fact that you're 80 00:04:54,540 --> 00:04:58,180 probably really, really intuitive business owner and you really 81 00:04:58,180 --> 00:05:01,500 understand what your customer wants and the products that they want, which has really helped 82 00:05:01,500 --> 00:05:03,780 you get to the point that you're at. But now what you need to do 83 00:05:03,780 --> 00:05:07,500 is introduce a certain amount of structure. So Retail by Design, as I 84 00:05:07,500 --> 00:05:11,220 said, it is a essentially a one to one program at heart. It's six months 85 00:05:11,300 --> 00:05:15,140 high touch. It's not a course, it's not diy. It 86 00:05:15,140 --> 00:05:18,940 is ongoing support, planning, decision making, space and it 87 00:05:18,940 --> 00:05:22,660 focuses on structure, clarity, better decisions and sustainable 88 00:05:22,740 --> 00:05:23,140 growth. 89 00:05:27,140 --> 00:05:30,539 So what has changed this time is that I'm also 90 00:05:30,539 --> 00:05:34,220 incorporating into Retail by Design the services of my 91 00:05:34,220 --> 00:05:37,860 done for you service Stock Doctor. So Stock doctor is 92 00:05:37,860 --> 00:05:41,580 a brilliant service for you if the main thing that you have an issue with 93 00:05:41,580 --> 00:05:45,360 is stock. If you are an independent retailer, for example, or an 94 00:05:45,360 --> 00:05:49,160 E commerce brand and you feel like I've pretty much got everything nailed, but 95 00:05:49,160 --> 00:05:52,960 I really don't understand stock or I really feel like I should be paying myself 96 00:05:52,960 --> 00:05:56,280 more or I really feel like there should be more money in this business and 97 00:05:56,280 --> 00:05:59,640 I just don't have a handle on stock. I don't feel confident about it. 98 00:05:59,880 --> 00:06:03,640 Then Stock Doctor is for you if you are somebody 99 00:06:03,640 --> 00:06:07,160 who thinks all of those things, but then you're also thinking, well, I'm kind of 100 00:06:07,160 --> 00:06:10,540 at a crossroads. I really want to decide where I take the business now. I 101 00:06:10,540 --> 00:06:13,700 feel like there are so many different parts of this business. I don't know what 102 00:06:13,700 --> 00:06:17,220 support I need, what structure I need, what strategy I need, or you're 103 00:06:17,220 --> 00:06:20,980 undergoing a major change, for example, opening a shop or moving 104 00:06:21,140 --> 00:06:24,379 to a different fulfillment center or anything like that, and you really feel like you 105 00:06:24,379 --> 00:06:28,020 need some support with that, then Retail by Design is 106 00:06:28,020 --> 00:06:31,620 for you. So when I talk to people on calls to discuss 107 00:06:31,700 --> 00:06:35,260 my services, I'm usually listening for if they 108 00:06:35,260 --> 00:06:38,900 say everything's fine, but I just really would like to get my stock under 109 00:06:38,900 --> 00:06:42,610 control that sits under Stock Doctor. If they're saying I really want to 110 00:06:42,610 --> 00:06:46,010 understand my numbers more and I really want to look at the business as a 111 00:06:46,010 --> 00:06:49,730 whole, then that to me says Retail by Design. But what 112 00:06:49,730 --> 00:06:53,490 I found was that when I was doing Retail by Design previously, a lot 113 00:06:53,490 --> 00:06:57,170 of the founders, they also had the need to understand more about their stock, to 114 00:06:57,170 --> 00:07:01,010 have it managed for them, to have somebody sitting them down and telling them exactly 115 00:07:01,010 --> 00:07:04,770 what was going on. And so therefore it was something that I 116 00:07:04,770 --> 00:07:08,300 realized that having both stockdoctor and 117 00:07:08,300 --> 00:07:12,020 Retail by Design together was a powerful combination. In fact, 118 00:07:12,020 --> 00:07:15,780 I had some clients who did both of them at the same time, both 119 00:07:15,780 --> 00:07:19,420 stockdoctor and Retail by Design. And it was so beneficial, it worked 120 00:07:19,420 --> 00:07:23,180 so well in tandem that I decided to make it part of the 121 00:07:23,180 --> 00:07:26,700 core program. One of the things that makes growth feel really 122 00:07:26,700 --> 00:07:30,500 scary and uncertain is because the numbers feel uncertain. And 123 00:07:30,580 --> 00:07:34,220 so having somebody taking care of your stock, which is for most 124 00:07:34,220 --> 00:07:37,850 people the biggest expenditure that they have in their business, it felt like a no 125 00:07:37,850 --> 00:07:41,570 brainer to work with a stock doctor and myself to 126 00:07:41,570 --> 00:07:45,130 give the person in retail by design the benefit of two 127 00:07:45,130 --> 00:07:48,970 experts looking at their business. So in terms of how that 128 00:07:48,970 --> 00:07:52,609 breaks down, then the stock doctor looks at sales and stock 129 00:07:52,609 --> 00:07:56,250 every month, keeps plans up to date, flags risks early, 130 00:07:56,330 --> 00:07:59,050 maybe things that you might be selling out of, or things you need to buy 131 00:07:59,050 --> 00:08:02,290 more of, or things that you're sitting on that are trapped cash that could be 132 00:08:02,290 --> 00:08:05,920 freed up to make the business more profitable. They are experts 133 00:08:05,920 --> 00:08:09,480 at modeling. This is something that I really can't stress enough if you are a 134 00:08:09,480 --> 00:08:13,240 fast growth business. For example, stock doctor is able to come in and 135 00:08:13,240 --> 00:08:16,320 model what stock you would need based on various different 136 00:08:16,480 --> 00:08:20,200 scenarios. And they're also able to adjust 137 00:08:20,200 --> 00:08:23,520 those each month when they update your plans based on what actually 138 00:08:23,520 --> 00:08:27,240 happened. So all of the stock doctors that I have working with me, they all 139 00:08:27,240 --> 00:08:30,560 have a really strong deep retail merchandising 140 00:08:30,720 --> 00:08:34,480 background. And running different scenarios and looking at the impact 141 00:08:34,560 --> 00:08:38,400 of growth is something that is second nature. They are able 142 00:08:38,480 --> 00:08:41,760 to really help with that modeling, help with buying 143 00:08:41,760 --> 00:08:45,480 decisions, help understand how to make the stock work 144 00:08:45,480 --> 00:08:48,960 harder, how to free up their profit. And 145 00:08:49,200 --> 00:08:52,800 the amazing thing about stockdoctor is that it 100%, 146 00:08:53,200 --> 00:08:57,000 based on the numbers that we've run, is something that pays for itself. For 147 00:08:57,000 --> 00:09:00,840 example, when we looked at the data behind people who had worked with 148 00:09:00,840 --> 00:09:04,400 a stock Dr. For six months, they were seeing 10% more sales with 149 00:09:04,400 --> 00:09:08,080 10% less stock, which for many of them, based on around a 150 00:09:08,080 --> 00:09:11,640 50% margin, meant that they were adding around 5,000 151 00:09:11,640 --> 00:09:15,480 pounds additional profit per 100k of revenue. 152 00:09:15,640 --> 00:09:19,200 And that was after the cost of the program. So we 153 00:09:19,200 --> 00:09:22,800 designed Stockdoctor and delighted to see it paying for itself and 154 00:09:22,800 --> 00:09:26,360 making a real difference not only to the bottom line for retailers, 155 00:09:26,580 --> 00:09:29,940 but also to their peace of mind. So it's a really, really 156 00:09:29,940 --> 00:09:33,420 powerful program. The way that the combination of them 157 00:09:33,420 --> 00:09:36,780 works is that you get your monthly support call with your stock 158 00:09:36,780 --> 00:09:40,420 doctor to go over the numbers, to go over the plans, 159 00:09:40,500 --> 00:09:44,140 and to go over any decisions that you need to make about buying, as well 160 00:09:44,140 --> 00:09:47,980 as giving you really great insight into trading actions that you 161 00:09:47,980 --> 00:09:51,420 can take, not adding extra things to your to do list, but all of those 162 00:09:51,420 --> 00:09:54,220 things that you have to do anyway. This is not about adding to your to 163 00:09:54,220 --> 00:09:57,950 do list. So you always have to do your marketing, you always have to do 164 00:09:57,950 --> 00:10:01,630 your buying. But Stockdoctor is able to give you direction on both of 165 00:10:01,630 --> 00:10:05,350 those things so that you are able to do them more effectively and 166 00:10:05,350 --> 00:10:09,070 without the guesswork. And then you have a monthly strategy 167 00:10:09,070 --> 00:10:12,830 call with myself. So Retail by Design starts with a kickoff call with 168 00:10:12,830 --> 00:10:16,470 me. We map out the six months, what it is you want to achieve. We 169 00:10:16,470 --> 00:10:20,070 identify the areas of the business that you want to work on. You'll then 170 00:10:20,070 --> 00:10:23,710 also meet the stock doctor, have them do a full audit of your sales and 171 00:10:23,710 --> 00:10:27,500 stock to understand where you're at. So you've got those two tracks of support, one 172 00:10:27,500 --> 00:10:31,180 all about strategy and one all about stock. So you've got the two 173 00:10:31,180 --> 00:10:34,460 together, giving you space for decision making, 174 00:10:34,780 --> 00:10:38,420 focus, time and headspace. And then Retail by Design also 175 00:10:38,420 --> 00:10:42,260 comes with a whole host of other benefits such as ongoing support 176 00:10:42,260 --> 00:10:45,820 with myself via email or voice note so that you can ask me anything you 177 00:10:45,820 --> 00:10:49,460 like in between sessions, weekly group calls where you can 178 00:10:49,460 --> 00:10:52,920 check in, jump in, say hi to other people in the cohort, 179 00:10:53,160 --> 00:10:56,720 ask other questions of myself or other people. And you also 180 00:10:56,720 --> 00:11:00,360 get work with a Mindset Coach. You get three sessions across 181 00:11:00,360 --> 00:11:03,960 six months with our fabulous mindset coach, Annabel, who is just 182 00:11:03,960 --> 00:11:07,200 really brilliant at helping you work through any of those 183 00:11:07,200 --> 00:11:11,000 mindset issues that come up when people are building businesses. 184 00:11:11,560 --> 00:11:15,240 The transformation with Retail by Design As I said, I'm so excited 185 00:11:15,240 --> 00:11:19,060 about adding in Stock Doctor as well because we already saw such great transformers information 186 00:11:19,460 --> 00:11:23,300 founders moving from feeling really reactive to feeling much calmer. 187 00:11:23,460 --> 00:11:26,500 They're able to make decisions more proactively and with confidence. 188 00:11:26,980 --> 00:11:30,660 They second guess themselves less often. They have a clear plan 189 00:11:30,660 --> 00:11:34,500 that they can trust and they feel supported in their business. 190 00:11:34,900 --> 00:11:38,380 And now with the stock doctor element, we know that that is all taken care 191 00:11:38,380 --> 00:11:41,780 of. So even if you're having a busy month, you've got a crazy quarter, 192 00:11:42,260 --> 00:11:46,060 then somebody is there running those plans for you, updating you each month. 193 00:11:46,060 --> 00:11:48,860 So it really reduces the amount of time that you as the founder have to 194 00:11:48,860 --> 00:11:52,450 spend doing work on your numbers because they are being done for 195 00:11:52,450 --> 00:11:55,970 you. Feeling overwhelmed, stuck in 196 00:11:55,970 --> 00:11:59,690 reaction mode and tired of winging it. Retail by Design is my 197 00:11:59,690 --> 00:12:03,370 six month, one to one program for six figure product founders who are 198 00:12:03,370 --> 00:12:07,210 ready for clarity, strategy and proper support. Using my 199 00:12:07,210 --> 00:12:10,610 signature focused framework, we turn scattered businesses into 200 00:12:10,610 --> 00:12:13,970 calm profitable ones with hands on help to sort your 201 00:12:13,970 --> 00:12:17,610 structure, cash flow and sales. If you're ready to feel confident 202 00:12:17,610 --> 00:12:21,370 and in control again, head to resilient retailclub.com and click 203 00:12:21,370 --> 00:12:25,210 on Retail by Design to book a call. So I'm 204 00:12:25,210 --> 00:12:28,970 so excited about this new version of Retail by Design. I 205 00:12:28,970 --> 00:12:32,450 feel like it's so powerful and I'm excited because I truly believe 206 00:12:32,850 --> 00:12:36,330 this is what business support should look like. Really 207 00:12:36,330 --> 00:12:39,930 structured, really supportive, really able to 208 00:12:39,930 --> 00:12:43,410 meet you and your individual needs. Completely personalized, 209 00:12:44,060 --> 00:12:47,580 very, very effective and very much focused on your bottom line. 210 00:12:47,580 --> 00:12:51,260 Everything that we do is zero fluff. It is about sales strategy, 211 00:12:51,260 --> 00:12:55,060 about structure. And we also do support you as a founder 212 00:12:55,060 --> 00:12:58,700 through all of our email and voice notes, support our group calls, and 213 00:12:58,780 --> 00:13:02,620 our mindset coaching as well. Retail by Design. 214 00:13:02,620 --> 00:13:06,260 It's not for people who are first starting out. It's not really 215 00:13:06,260 --> 00:13:09,980 for anyone who wants a quick fix. It's for people who want to have 216 00:13:10,450 --> 00:13:14,130 time, space to work on their business over an 217 00:13:14,130 --> 00:13:17,490 extended period of time. They don't want just 218 00:13:18,210 --> 00:13:21,850 templates or generic answers. They want something that is super 219 00:13:21,850 --> 00:13:25,370 tailored for them. And they don't want to be spending hours and hours and hours 220 00:13:25,370 --> 00:13:28,850 on this program. They want to know that they can turn up to their monthly 221 00:13:28,850 --> 00:13:32,610 meetings without needing to spend hours and hours out of 222 00:13:32,610 --> 00:13:35,650 the day. But then everything that they are doing is going to be helping them 223 00:13:35,650 --> 00:13:39,170 run more effectively, be more productive 224 00:13:39,170 --> 00:13:42,530 and efficient in their business, and most importantly, feel 225 00:13:42,690 --> 00:13:46,330 supported. Feel like they've got a team behind them. 226 00:13:46,330 --> 00:13:49,810 They've got that support wrapping around them and that you're not 227 00:13:49,810 --> 00:13:53,409 feeling lonely or worried or nervous. Because 228 00:13:53,410 --> 00:13:56,930 even if numbers are growing and it feels exciting, it could be 229 00:13:56,930 --> 00:14:00,570 scary exciting too. And it's great to know that you've got really, really 230 00:14:00,570 --> 00:14:04,160 deep industry knowledge and expert backed support behind 231 00:14:04,160 --> 00:14:08,000 you. Growth doesn't have to feel chaotic. You can have support and 232 00:14:08,000 --> 00:14:11,680 structure in a way that feels aligned with you 233 00:14:11,680 --> 00:14:15,360 as a business owner and doesn't feel restrictive. If you're nodding 234 00:14:15,360 --> 00:14:18,520 along, listening to this and thinking this sounds like you and you want to know 235 00:14:18,520 --> 00:14:21,760 more, then you can head over to resilient 236 00:14:21,760 --> 00:14:25,400 retailclub.com, take a look at Retail by Design. There's more details 237 00:14:25,400 --> 00:14:29,120 there and there's also a link to book in for a call. The 238 00:14:29,120 --> 00:14:32,880 next step is for us to have a chat. It's very relaxed. 239 00:14:32,880 --> 00:14:36,500 It's just an opportunity for me to find out more about where you're at in 240 00:14:36,500 --> 00:14:40,140 your business, what you need, and if it feels like the right fit. I'll tell 241 00:14:40,140 --> 00:14:43,620 you more about Retail by Design. No pressure, no hard 242 00:14:43,620 --> 00:14:47,380 sell, just an opportunity to talk about what's going on for you and 243 00:14:47,380 --> 00:14:50,940 see if we can't find you the right support to take you to the next 244 00:14:50,940 --> 00:14:54,500 level. Thank you so much for listening. I 245 00:14:54,660 --> 00:14:58,500 would love to hear. No, sorry. Thank 246 00:14:58,500 --> 00:15:02,140 you so much for listening. We'll be back next week talking 247 00:15:02,140 --> 00:15:05,940 all about how you create an award winning online store. 248 00:15:06,730 --> 00:15:11,580 Sam.