PROFITABILITY

Get Started. It's Free
or sign up with your email address
Rocket clouds
PROFITABILITY by Mind Map: PROFITABILITY

1. What we should do but isn't possible right now?

1.1. Improved product across the board

1.2. Moving to a wholesale model

1.3. Increased Nordstrom support (general)

1.4. Store design

2. We are not doing enough, if we were - sales would not be below 50% of target

2.1. What could we have done more of?

2.2. How can we ensure we don't make the same mistakes again?

3. Sales numbers need to be improved

3.1. How can we do this?

3.1.1. Accountability

3.1.1.1. What are doing right now to hold managers accountable when they don't meet targets?

3.1.1.1.1. Could we have improved discussions at the ADM roundtables?

3.1.1.2. How are we holding ourselves responsible to the results?

3.1.1.2.1. Better sales analysis and discussion during Retail Ops meetings

3.1.1.2.2. What are the connection points between in regards to sales and can we improve these? Retail Ops -> Brand Manager -> ADMs -> Stylists

3.1.1.3. The targets are unrealistic

3.1.1.3.1. This is demotivating

3.1.1.3.2. No true accountability if the goal is never in sight

3.1.1.3.3. How can we find a balance here?

3.1.1.4. Returns accountability

3.1.1.4.1. overpromising and underdelivering

3.1.2. Pipeline

3.1.2.1. What in the sales pipeline could be improved?

3.1.2.1.1. Increased sales training

3.1.2.1.2. Coaching for ADMs on how to coach a sales team?

3.1.2.1.3. Are we selling the new products enough to our staff? Could they be more excited?

3.1.3. Initial aquisition

3.1.3.1. Visual Merchandising

3.1.3.2. Clientelling

3.1.3.3. Store Theatre

3.1.3.3.1. Appointments

3.1.3.3.2. Specific Events

3.1.4. Compensation structure

3.1.4.1. Would a commission model garner more results for us?

3.1.4.2. Is there room to move to this model before wholesale?

3.1.4.3. Switch to commission

3.1.4.3.1. This would remove the 'referral culture'

3.1.4.3.2. Staff would never be able to make enough money to support themselves with our current sales numbers

3.1.5. Motivation

3.1.5.1. Improving their feeling of accomplishment

3.1.5.1.1. What motivates each team member?

3.1.5.1.2. How can we improve your motivation?

3.1.6. Review store performance

3.1.6.1. Are there any opportunities