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Friday Retailer Flex – Episode 30

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How to build operational efficiency at your retail bicycle store.

Support the show

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The Friday Retailer Flex – Episode 30

Fri, 10/15

SUMMARY KEYWORDS

operational efficiency, employees, bicycle, retailers, upgrading, business, dealers association, improve, processes, working, procedures, membership, retail operations, order, industry, today, unhappy customers, operational procedures, service, encourage

SPEAKERS

Heather Mason, NBDA

NBDA   00:10

You are listening to bicycle retail radio brought to you by the National bicycle Dealers Association.

Heather Mason  00:16

Welcome to the Friday retailer flex so weekly pointed digest of inspirational and actionable insights you can implement today to take your business to the next level. This is NBDA President Heather Mason. If you’re a first time listener, be sure to check out the previous episodes. Please do us a favor and leave a review that helps members of our industry find our podcast. This podcast is designed specifically for the bicycle industry dedicated to strengthening our retailers and cycling community. Today’s flex is centered around how to build operational efficiency at your retail bicycle store. In order to grow your business, you may have been told to work on your business and not in your business. While this is true, and something we encourage retailers to do, it’s important to remember that you still need an accurate picture of what’s going on in the store to ensure it’s operating efficiently. The huge boom in our industry may have exposed weaknesses in your retail operations. This can result in several issues, including unhappy customers and employees, loss of profits, unplanned expenses, and poor customer reviews. Luckily, there are some things you can do to build and improve operational efficiency. Today we have three effective strategies, we suggest the bicycle retailers to help you accomplish this goal. First, in order to improve operational efficiency, you need to talk to your employees. As your frontline workers, your employees have a lot of knowledge about what is working and what isn’t working for your business. This includes processes and procedures, infrastructure and customer feedback. When building operational efficiency, we encourage you to speak with your employees and incorporate their opinion. Be sure to look out for common concerns among your employees as these are the issues you should prioritize first. Additionally, we recommend spending some time working in your business to get a sense of how things are running. While you may have started your business from the ground up, you may no longer have an accurate idea of how it’s running if you’ve been focused on growing it. successful companies like Starbucks have their management and business leaders train in the barista role for some time so they understand the product and service they are selling. Keep in mind that although something may sound like a good idea on paper, it may not work as effectively as you think in practice. The second tip to improve operational efficiency, promote cross training and communication. For bicycle retailers with service and sales departments. It’s a good idea to provide your employees with an idea of what each department does, and any specific operational procedures allowing them to be able to help out in times of need. Equally important, we encourage you to have the proper communication channels in place to allow your employees to effectively communicate with you and each other. Everyone should be working towards the same common goals for your business, provide opportunities to engage and share ideas and concerns, which will help streamline processes and workflow. Lastly, we recommend having your processes and procedures written down in a formal document that can be assessed by your employees. By having formal processes and procedures in place. You’ll set a standard for your employees to follow and be accountable for. And the third tip to improve operational efficiency, enhance your resources and infrastructure, even if your processes and procedures are working fine. Using outdated software and hardware can negatively impact your operations. While upgrading these areas of your business can be costly. It’s an investment that’s inevitable and necessary if you want to improve your operational efficiency. Delaying upgrades could end up costing money in the long run. by upgrading your technology you can increase your ability to fulfill and manage sales and service orders while increasing the overall productivity of your employees. We hope you find value in our three tips to build operational efficiency at your retail bicycle store. wants to know how to improve talk to your employees promote cross training and communication and invest in technology. The MBDA extends our thanks to our membership base. If you’d like to support the show, don’t forget to subscribe. Share your favorite episode with your friends and on social media. We appreciate your support. Thank you for listening now go be great.

NBDA   04:40

This has been bicycle retail radio by the National bicycle Dealers Association. For more information on membership and member benefits, join us@nbda.com

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The NBDA has been here since 1946, representing and empowering specialty bicycle dealers in the United States through education, communications, research, advocacy, member discount programs, and promotional opportunities. As shops are facing never-before-seen circumstances, these resources offer a lifeline. Together, we will weather this. We at the NBDA will not waver in our commitment to serving our members even during this challenging time—but we need your support.

Now is the time to become a member as we join together to make one another stronger. Whether you’re a retailer or an industry partner, your membership in the NBDA is one of the best investments you’ll make this year. 

Learn more about the benefits of being a member and join now.

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