SCOTTSDALE, Ariz. -- Jim Keyes learned a lesson early on in his career at 7-Eleven that he continues to cling to. Here are six ideas from this week’s 2015 Outlook Leadership conference in Scottsdale, Ariz., that might be worth reflecting on in 30 years …
Retail Believer
As CEO at one time or another for 7-Eleven, Blockbuster, Wild Oats and Fresh & Easy, Jim Keyes has lived several retail lifetimes. “Retailing in the most interesting profession you can ever have,” he said during Outlook Leadership. And he finds one lesson he learned early on in his career at 7-Eleven continues to resonate. “Convenience isn’t about selling ice or cigarettes,” he said. “It’s about keeping up with whatever customers want today. You’ve got to stay current.”
Elephant in the Room?
“Convenience stores allowed me to enjoy the American dream,” said Kofdarali. “But I wonder if that will be an option for people starting out today,” he added, chiefly noting issues with local, state and federal regulations that make it more difficult to open a c-store today. “If there’s anyone running for president here today who wants to get a firsthand look at what our industry is about, I will personally set that up.” Ten minutes later, a certain Dr. Ben Carson took the stage …
Just Another Day at the Office
Keynote speaker Robert O’Neill led Navy Seal Team VI in its mission to kill Osama bin Laden, but he refused to talk about the mission. Why? To illustrate a point, of course. “The bin Laden raid was pretty easy,” he said. “It was a proof of concept. We were successful there because of the things we had done before it.”
So This Coupon Walks Into a Bar …
Greg Fox of GasBuddy/OpenStore called the coupon space "a funny world." But this world can help drive traffic to your store. If the three closest gas stations/c-stores all had the same price of fuel but one store offered a great digital coupon, 73% of respondents of a GasBuddy survey said they would go to the store with the coupon.
Emotional Rescue
The retailers and suppliers of the convenience-store industry think in terms of categories, but consumers think in terms of need states, said Jeff Swearingen of PepsiCo. These needs states, with origins that are emotional, social and physical, also change by daypart. The industry needs to better align its merchandising thinking to that of the consumer to truly meet their needs.
LMAO
Don Fox, CEO of Firehouse Subs, offered his four elements that make great leadership. They are:
Lead by Example: “Everything you do and sall will be put under a microscope by your employees,” he said. “Don’t ask them to do anything you aren’t willing to do.”
Mission-Style Orders: “Don’t micromanage. Give people very simple direction on what needs to be done, then give them the resources to do it.”
Acountability: “My team has got to be held accountable for performing. If one person is allowed to slide, the entire team will take notice.”
Optimism: “An optimistic attitude is always going to outperform a pessimisitic organization. It has to come from above. If there is pessimism above, it will trickle down to all levels.”
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