Photo: Lyle Heidemann
Today’s lesson comes from Lyle Heidemann, CEO of True Value, a hardware cooperative with more than 5000 independent retail locations.
“Every retailer, independent of the economy, needs to take a hard look at their marketplace and ask themselves: ‘Am I the leader in the marketplace in my categories?’ and ‘Am I relevant from a customer standpoint?’
And if not, the question becomes, ‘What do I do about it?”
– Lyle Heidemann, True Value CEO
Want your business advice featured in Instant MBA? Submit your tips to [email protected]. Be sure to include your name, your job title, and a photo of yourself in your email.
NOW WATCH: Ideas videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.