If you're not changing, you're not growing

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djbaxter

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Are You Changing?
By Glenn Muske, SmallBizSurvival

My mother has recently moved to an assisted living center. For me, this has meant some changes in my help. For one thing, I am more active in getting her medicines. Recently I commented that I suspect her pharmacy will not be in business in the near future. She asked why I say that since she finds them most helpful.

My first, and maybe sole, reason was a scan of the age of their customers. I live in the second largest city in the state, one that has been noted for what it is doing in bringing in younger workers. However, I don’t see those younger people in the store no matter what time I am there. I suspect that their average customer is 60+. By itself, that market is okay but I suspect they aren’t drawing new customers of that age range but continue to serve basically their existing customer base.

So how can I make these additional hypotheses about customer growth?

First, we are creatures of habit. If we have a pharmacy we have used for years, we probably aren’t going to change as we age. We actually become more fixed in our ways.

And why aren’t younger people using the pharmacy? They aren’t using technology – no texting, no drive-up, no pay-by-phone, no app, etc. That’s where the competition is.

Also, the store is small so it offers the items you would expect from a pharmacy but don’t go for milk, cereal, foods, tooth paste, jewelry, perfume, etc. And this short list doesn’t even begin to capture what you may find in some of the larger multi-faceted stores.

Another reason is that their hours don’t begin to match the competition. No late evening hours and nothing on Sunday.

All of the things I have mentioned take money and more personnel. Yet survival means change. In retail, this was made apparent again this last Monday when Sears declared bankruptcy. The market place is demanding and right now is demanding something different.

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SARubin

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There's an old adage that says...

“One definition of insanity is doing the the same thing over and over, while expecting to get different results”

But the way I see it (at least when it comes to business), the world is constantly changing at an ever increasing rate. And what worked yesterday, might not work tomorrow.

So with that in mind... Perhaps a better adage might be...

“One definition of insanity is doing the same thing over and over, while always expecting to get the same results?”

Basically... The world is moving forward (with or without us). And if we're not learning new things to keep up, then were not standing still... We're falling behind.
 
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