Retail Owners: Where’s Your Job Description?
What is the most overlooked and under-performed job in retailing today? Being the Owner! Owners have responsibilities that are separate and distinct from any other job in retailing.
Winston Churchill once said, “Some are born great. Some achieve greatness. And some have greatness thrust upon them.”
And so it is with business ownership: some are born to it; others achieve it; still others have it thrust upon them.
Whatever their route to retail ownership, few recognize – or appreciate – that being the owner is its own job, separate and distinct from any other job in retailing. Yet why is it that the Owner is usually the only person in a retail operation without a job description? (And therefore, not subject to a performance review?!)
Whether the “Owner” is one person (perhaps the founder); several people (perhaps family members, business partners, even investors); or, as in the case of a corporation, represented by the Board of Directors, the job of the “Owner” is the most under-performed and overlooked job in retailing today!
Indeed, The ROI believes that failures in retail are traceable not to weak management, nor to weak CEOs. Instead, most retail failures can be traced directly to bad ownership.
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Three Levels of Responsibilities • Owner-Only Responsibilities • President & Management Responsibilities