We have spent the past few posts in Steve Jobs and trade show mode.  I now want to come back and conclude some thoughts on buying.  I wrote a number of posts on this topic and hope they have been helpful.  As part of my lectures and writings, I always like to leave a topic (although we never really leave any of these topics) with a number of questions to consider.  So… when developing a great buying strategy, here are some questions to think about:

• Who are my most important vendors?
• Do I treat buying as an afterthought or as a vital business decision?
• Do I reorder what is selling or am I just happy I sold it?  Do I know my best-selling models/collections?
• Do I feel my product assortment is unique or similar to others in our area?  Have I created a POINT OF VIEW with our offerings?
• Do I map out a strategy each year or just go with the flow?
• Do I meet with people with new product or ideas, or think “I am too busy for anything new”?
• Do I know what my customers really want?  Have I ever asked them?
• Does my buying team know my overall goal for the store or practice?
• Have I developed a compensation system that will reward “good buying”?
• What’s my CONNECTION to what I buy?  Do I believe in it? Or do I buy it because of price?  brand name? company?

These questions are designed to make you think about your specific buying strategy for your practice or retail store.  As I have said in the past, I am not here to necessarily give you a final answer, but to provide a framework and information to help you make decisions about your own strategy and find YOUR right answer.