Retail is tough. Small business retail is tougher. Too often, challenges encountered by small business retailers are of their own doing. Like personal health, our choices impact our situation.
Here is some of our best practice advice for a healthy and prosperous retail business from the perspective of a POS software company.
- Scan everything you sell.
- Enter into your computer system all stock you receive and all stock you return to suppliers.
- Use your software to create orders for replenishment stock.
- Balance your registers every day using your software.
- Do spot stock takes for popular items to check for theft.
- Measure performance by department, category and supplier. Do more of what works and less of what does not work.
- Compare your performance this year to last year. Fix what is not working.
- Use your software as your eyes and ears. Good POS software has excellent back end reportage to let you see how your staff use the software.
- Train your staff to be fit for purpose in using the software.
- Focus on many small steps towards success rather than one big step.
We see many retail businesses prospering through smart engagement with the facilities in our POS software.