Analyzing your 2018 business NOW!
 |
| Making sense of it all! |
·
What makes you money? What sells the most, when
and by whom? Knowing this can help you decide many others lingering questions
about your business.
· What is NOT selling? Understand
why it is not selling? Is it priced correctly? Is it being promoted to the
right buyers? What made you order this to sell in the first place?
·
What on your to-do list that MUST be done to
grow your business? I have asked business owners why I don't see them at local
networking events; the answer is almost always, "I'm just too busy!"
I say you have not set up your priorities to do what will help you grow that
business.
o
Automate
your systems; sales, customer capture for marketing, inventory, ordering &
staffing processes.
o
Look at your sales reports once a week &
adjust.
o
Take time once a week to review your inventory
to make sure you have just the right of on-hand products to sell.
o
Check your marketing strategy, are you doing
what you said? Is it working?
·
Build your Team! Surrounding yourself with an
excellent team of professionals, all focused on your company's success will be
your greatest achievement!
o
Accountant, Sales, Marketing, Advertising,
Customer Service, & Operations people.
o
Measuring & understanding YOUR strengths and
weaknesses will help you determine what professionals you need on your TEAM!
o
Train your TEAM on your VISION and empower them
to do their job.
·
Delegate some of your to-do list. You need to
realize that you, the owner, cannot do everything! Either you hired a TEAM or
you automated processes and got systems to do the work. Now you need to ONLY do
that which is only done by the owner!
o
Get it go.....don't do what you have others
doing!
o
Empower your team to do what they were trained
to do.
o
"GIVE UP" those things that can be
done better by someone else!
o
Find out what you do BEST and do it!
·
Stay on top of your industry trends and customer
trends. Too many business owners stay behind closed doors never realizing that their
business world is changing...fast! Doing the previous 5 things should allow you
the time to become a "subject matter expert" on your business and
industry.
o
Attend local business events - chambers, expos
& trade shows.
o
Talk to your customers. Find out why they buy or
don't buy from you.
o
Check out your competition and find out why
their customers buy from them.
o
Find out how your customers want to be sold;
online, retail, in-person, catalog? Now ask yourself, are we providing that
level of service to our customers?
·
Don't be afraid of change...............
o
To change your vendors, products or amount of
inventory.
o
Add eCommerce or Mobile Payments to the marketing/selling
mix.
o
To look at different marketing strategies to
attract different buyers; Instagram, Twitter, your own Mobile App!
o
Allow your TEAM to be part of the experience and
decision!
We hope you all had a great, successful
2018!
We look forward to working with you in
2019!
Happy Holidays!
From Merchant Processing
Solutions Inc.
954-938-2420
