Your new routine starts here! Take the opportunity to adopt some new habits that will make your life as a small retailer easier – and your business more successful.
1. Look over your inventory routines often.
You probably launched your store because you love a particular type of product. If you enjoy buying the same inventory to sell you might forget to continuously monitor trends, listen to customers and base decisions on sales reports. There is no reason to keep winging it! At the end of the day you serve your clients – not yourself. Following that philosophy, you’ll replace a product or a product category that’s declining with something relevant and more sought after.
2. Fully use your point-of-sale system!
Add all your products in a product library and keep it as an organized hub. Finish up sales with sending an email receipt – that way you can collect your customers’ email addresses. Using a point-of-sale app every day – for every transaction – keeps your business running smoothly. The iZettle POS app is a powerful tool that makes it simple to sell, sell and sell!
There is no reason to keep winging it!
3. Listen more!
You have heard this one before – in case you listened. Listening is a great way of building credibility and trust with your employees – as well as helping you to better understand the needs of your clients and customers. As an essential part of communication, it’s one of the most important skills for anyone doing business or maintaining a relationship. Remember, we have one mouth and two ears for a reason!
Heard this one before? It’s important to keep listening!
4. Multitask with care.
When you complete a smaller task, your brain rewards you with a small dose of dopamine. Those small instant rewards make it highly addictive to keep multitasking. Keep that in mind when you catch yourself jumping between tasks next time. A lot of research states that multitasking can be harmful. Also, according to Business Insider, only 2% of people are actually any good at it.
5. Get an extra hour of sleep.
You’ve probably heard that successful people wake up extremely early – say 3.30am – so they’ve already completed a full day by the time you’re starting yours. Most adults function properly for about 16 hours and need roughly 8 hours of sleep, while some require as little as 6 hours. Remember that eating healthy, working out and sleeping properly should always be a top priority. Only then can you make the best decisions and come up with the most unique and competitive ideas!
Those small instant rewards make it highly addictive to keep multitasking.
6. Get a life – outside work!
Many startup entrepreneurs eat, sleep and breath their business. The old Stanford professor John Pencavel proved that, above a certain threshold, work output rises at a decreasing rate as hours increase. What does that mean? Basically, the more you work, the less you produce – when you go above 50 hours per week. Pencavel also found that everyone benefits from taking one day fully off per week. If you can – embrace Sundays!