Bankable Advice for Small Business Retailers

Engaged local small business retailers know that everyone’s got an opinion on how to run a shop. But what’s the best advice for small business retailers?

Here’s our top 7 tips, based on our own experience and decades of working with small businesses in providing POS software and even running shops ourselves:

1. Use your data. Your POS software can tell you a lot about your business, from what products are selling to how often your customers visit. Use this data to make better decisions about your inventory, marketing, and staffing. yes, this sounds boring. But, it’s true. How your business has performed can be the best guide as to how it could perform.
2. Connect your systems. The more you can automate your processes, the less time you’ll waste on manual tasks and the more accurate your data will be. less keystrokes = less mistakes = time saved = better business decisions.
3. Look under the hood. Good POS software can give you insights into your business that you might not even know you need. Ask your POS software company what kind of data their software can track and report on.
4. Set goals and measure performance. What do you want to achieve with your business? Once you know your goals, you can track your progress and make sure you’re on track. Our POS software can measure and report on valuable local retail business goals.
5. Reorder what sells. Don’t waste time and money on products that don’t move. Keep an eye on your sales data and reorder the products that are selling well.
6. Place products together. People often buy products that go together, so place them near each other in your store. This will make it easier for customers to find what they’re looking for and increase your sales.
7. Train your staff. Make sure your staff know how to use your POS software and how to provide excellent customer service. This will help you create a positive shopping experience for your customers and keep them coming back.

Following these tips can help you run a more successful and profitable small business. Use your data, connect your systems, and look under the hood!

Now, for some extra advice:

• Be customer-centric. Put your customers first and everything else will fall into place.
• Be innovative. Don’t be afraid to try new things and experiment with different marketing strategies.
• Be persistent. Success doesn’t happen overnight. Keep working hard and never give up on your dreams.

Tower Systems is grateful to serve 3,000+ local independent small business retailers in a variety of specialty retail channels.