The mistakes that put you out of business are the mistakes you sometimes never realize you make. And when you do realize them, sometimes it's too late. Habitual mistakes are the worst kinds of mistakes — they happen again and again. While hypnosis won't cure any of these common retail mistakes (but, yes, you are getting sleepy), good ol' fashioned therapy might help break these habits.
  The next few pages offer some solutions to the neuroses that keep retailers awake.

PROBLEM: "I think I'm self-absorbed."
Some retailers get so caught up in the daily demands of retail that they lose sight of their competition. It's easy to get worn out in the daily grind. It's easy to become wholly absorbed by operations. It's easy to forget about the competition. But there are other players in the market, too. And they will just as easily knock you out of business when you're not looking.

SOLUTION: Respect — and Know — Your Competition
"Retail is busy. It's always on the move. It's easy [for retailers] not to look outside their store to see what's happening in the market. And I think that's a big danger," says Wendy Evans, President of Evans & Co. Consultants, a company that provides marketing, research and management services to retailers.

  Maintaining a competitive retail establishment demands you respect — and know — your competitors. Evans offers a number of ways to keep your eye on the competition: