Just yesterday, my wife read me a story that inferred that over 50 well-known restaurants were in danger of going out of business… within the next 12 months. Many of which surprised me, but perhaps they should not have.
I recalled an article I read a few years back that announced the retail store Dressbarn was to close all 650 stores. This news meant nothing to me, but it was my wife who let out a quiet scream of concern. “I have a few sweaters and tops from Dressbarn that I absolutely love.”
Yesterdays announcement, along with the Dressbarn article, reminded me that yesterday’s accomplishments are, in fact, yesterday’s news. In Dressbarn’s case, it was online competitors (Amazon in particular), as well as a well-known discounter known for their red target, that were the primary culprits.
I have been known to be seen strolling aimlessly down an aisle or two in Target on a Saturday morning, and I am a Prime Member of Amazon. I toss no dispersions in either direction. That is not my message today.
After 50 years of customer satisfaction and presumably healthy profits, Dressbarn was closing their doors lock, stock, and barrel. Not merely a handful of unprofitable stores… all of them… 650 in total. Don’t you find that to be interesting? Or, if you are like me, sad.
I am not here today to list all the things The Dressbarn might have done wrong. I am not going to play Monday Morning Quarterback and pretend I know how they could have punched their cash registers for another 50 years. Rather, I am going to steer the next couple of paragraphs towards you and your immediate future.
Ladies and gentlemen, as proven by our dear friends at Dressbarn (and many others), there are no guarantees when it comes to business. Today’s success story is tomorrow’s memory.
I can’t tell you how many times I have heard from agents who tell me life is grand and they are enjoying the best year of their lives. They all seem to have throttled back thinking that they have finally made it. They put the brakes on their marketing efforts.
As proof with The Dressbarn’s recent decision to close shop, you are never “there.” You will always be “on your way.” Don’t allow your competitive efforts to wane. And never, ever, become content or satisfied with your current press coverage.
I have been known to end many of my articles with a simple reminder and it seems appropriate to do so today. KEEP ON KEEPING ON. (Remember Dressbarn.)
Mike Marchev is always looking for a few more proactive travel professionals to join his Sales and Marketing Club. firstname.lastname@example.org.
*** You want more to think about? Check out my weekly podcast (Mike’d Up Marchev). Also listed on Spotify, Apple Podcasts, Google, and iHeartRadio.