Editor's Note

Why Getting Lucky Starts With Preparation

Create the right conditions to benefit from good fortune.

Published

5 months ago

January 11, 2023

Trace Shelton Instore January 2023 Issue

ALL INDICATORS ARE pointing toward an economic slowdown coming soon … if it’s not here already. I don’t know how your holiday season turned out, but making 2023 successful is going to take a lot of planning, smart management, and yes, luck.

That’s why our big story this issue delivers tips and advice on how to create the right conditions for getting lucky in business. Sounds crazy, yes, but it’s not as difficult as you might think.

In fact, I compare it to drawing songbirds into your yard. You don’t go out and try to catch the birds then turn them loose in your yard. You create the right conditions by hanging a bird feeder, filling it with the right seeds, setting up a bird bath, maybe even a bird house, and ensuring that you have a good amount of nearby foliage. When you create these conditions, lo and behold, a host of beautiful birds will begin to appear.

With luck, it’s much the same. Be curious, meet new people, be open to new ideas, reserve time to get out of the daily grind and think about big opportunities, be ready to act, and you may find yourself benefiting from good fortune.

The Roman philosopher Seneca said, “Luck is what happens when preparation meets opportunity.” Consider this the INSTORE corollary: Without preparation, there is no opportunity.

So get prepared for good things to happen. We wish you the very best of luck in 2023!

Now Introducing The INSTORE Show, Coming to the Chicago Area in 2023!

Trace Shelton

Editor-in-Chief, INSTORE
trace@smartworkmedia.com

Five Smart Tips You’ll Find in This Issue

Do a three-year comparison of your profit-and-loss statements, and see where waste may be building. (Manager’s To-Do, p. 22)
At the end of each day, write down the lucky things that happened in a “Luck Diary.” (The Big Story, p. 30)
Keep your inventory level equal to about gross profit dollars for the past 12 months. (David Geller, p. 52)
When writing a reference letter for an unsatisfactory employee, stick to the facts. (Ask INSTORE, p. 54)
Learn how to create quick personalized videos on your phone so you can follow up with clients in a memorable way. (Megan Crabtree, p. 56)

Time for More “Me Time”? Time to Call Wilkerson

Rick White, owner of White’s & Co. Jewelry in Rogers, Ark., knew it was time to retire. Since the age of 18, jewelry had been his life. Now it was time to get that “me time” every retailer dreams about. So, he chose Wilkerson to manage his going-out-of-business sale. White says he’d done plenty of sales on his own, but this was different. “Wilkerson has been a very, very good experience. I’ve had the best salespeople in the history of jewelry,” he says. “I recommend Wilkerson because they are really the icon of the jewelry business and going-out-of-business sales. They’ve been doing it for decades. I just think they’re the best.”