Enter the store and walk the sales floor to ensure a proper closing took place the night before.
Project the payroll cost for the week as a percentage of my forecasted sales, and call it in.
Perform opening procedures on the controller (computer that records sales transactions and inventory count for all cash registers in the store).
Walk the sales floor with staff and assign projects for them to create new displays for merchandise during the day (create a “to do” list for employees and myself).
Before the store opens, call voice mail and check e-mail for messages left by other store managers or my boss, the district manager.
Make business telephone calls for the day.
Assign sales associates to store zones.
Put money in computer cash register drawers.
Open the store.
Make sure sales associates are in their zones on the floor for proper floor coverage.
Make sure everyone who enters the store is greeted and has his or her needs determined.
Provide floor coverage. (Help out as needed—greet customers, assist customers with sales, stock shelves, assist at the changing room, etc.)
Do business analysis for previous month from operating statement and gross margin reports.
Exhibit 1 – 1 ● A Day in the Life of a Manager (cont’d)
12:30 P.M .
Provide floor coverage as needed for staggered employee breaks.
1:30–2:30 P.M. My break, then:
Prepare customer request transfers (merchandise our store has but other stores do not have) to be delivered. Enter transfers into computer and get merchandise.
Leave for district meeting.
Drop off transfers and pick up another store manager; continue on to district meeting.
Meeting is conducted by district manager with the seven general and store managers. Meeting begins with discussion of the following topics:
Previous week’s sales, previous week’s payroll, payroll projections for next month (cost as a percentage of sales), cleanliness, and standards of the stores.
New information items, mail, general discussion, questions, etc.
Meeting ends with a walk-through of the store at which the meeting is held. During a walk-through, the host store manager discusses new display ideas that the other store managers may want to use. In addition, the other store managers give the host manager ideas for improving the store visually. In other words, this is a time to share ideas that will help all team members in the Gap district.
Call my store to see how sales are going for the day, then leave for home.
Exhibit 1 –8 ● Information Commonly Included in a Business Plan
Executive Summary. Although presented first, this section is written after the rest of the business plan has been completed.
Introduction. This section describes the business, answering these questions: What is the business? What goods or services does the business provide? Who are the business’s competitors? What is the business’s competitive advantage? It also introduces key managers and describes the legal form of the business (sole proprietorship, partnership, or corporation) and the type of business (an existing business, a new startup, a franchise, or a new line).
Location and Layout. Where will business be conducted, and how will the facilities be organized?
Operations. This section describes the systems process for transforming inputs into outputs.
Marketing. This section describes the marketing mix of the four Ps for the business: (1) products to be sold, (2) place products will be sold, (3) price of products, and (4) promotion to let target customers know about your products.
Human Resources. How many employees will the business need, and how will it recruit and hire them?
Accounting. How will the business keep records? The business plan should include a three-year projection ( pro forma ) for three important financial reports: balance sheet, income statement, and cash flow. The accounting plan indicates the company’s potential revenues, expenses, and profits. Potential creditors (people who will lend you money, assets, and inventory) and investors (co-owners with you) generally require projected financial statements.
Controls. This section describes the mechanisms to ensure that objectives are achieved.
Financing. The financial plan specifies how much money and other assets will be required to start and operate the new venture and where the financing will come from. (As a general rule, you should not start a new venture unless you can operate the business for one year without drawing money from the business for personal expenses. In other words, you need to live for a year without a salary. Paying rent, car payments, and so on with business profits during first years is rarely possible, and doing so can cause your business to run out of funds and close.)
Sources of Assistance in Planning, Starting, and Opening the New Venture
Palo Alto Software
Small Business Administration (SBA)
Service Corps of Retired Executives (SCORE)
Women’s Business Centers (WBCs)
Small Business Development Centers (SBDCs)
Minority Business Development Agency (MBDA)
Exhibit 1 –9 ● Features of This Book’s Three-Pronged Approach and Table of Contents