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Small Business Tips: How to Display Holiday Promotions to Increase Cash Flow

Richard B. — Mon, 29 Nov 2010 21:00:59 +0000

The holidays are a great time for families…and businesses. Retail stores see an increase in profits throughout the seasonal shopping madness. The promotions and sales peak consumers’ interests, while the display entices people to walk in and spend money adding to your necessary cash flow. Experts agree to bring up sales, your display needs to ooze holiday savings. Here is a guideline to follow ensuring your marketing visuals in the store are appealing enough to achieve effective results.

Create a Focal Point

Every retail store window has a focal point. This can vary depending on your products. If you specialize in shoes then highlight winter boots for sale in the window. The idea is to make a consumer’s eyes go straight to the specials, and the merchandise you want moved out of the store during the holiday rush.

Use lights and signage to reel the client in. Think of what makes you stop and look when walking by a store window. Adapt these same techniques to your store.

Produce Signage Promoting Bonus Gifts

The holidays are the time for small businesses to outshine large department stores. Provide bonus gifts with the purchase of something from your boutique making you stand out.

The bonus gifts could also be in the form of buy 2 get 1 free or spend $50 and get $10 off entire purchase. Consider what tactic to use prior to creating your storefront. Then stage it accordingly. It is a great way to get people to enter, browse and buy from you.

No matter what holiday promotion, sales or deals you advertise, your small business needs the funds to execute it properly. Talk to our small business loan expert today!

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Ways to Reduce Employee Theft

Richard B. — Wed, 03 Feb 2010 17:55:50 +0000

Unfortunately, during a recession, employee theft increases in various small businesses. Employees become desperate and make the wrong decisions. Therefore, as a small business owner you need to be prepared and prevent employee theft from occurring in your store. Here are a few things to look out for ensuring you do not lose money due to criminal activity.

Watch Your Receipts

Have you noticed more sale voids with specific employees who are not in training mode? Do their average voids exceed the norm of other employee shifts? You need to pay attention for employees may be using voids as a way to keep your money. For instance, if a customer pays $10.00 for a specific item and the sale is void. Then the same customer is charged $8.00 for the exact purchase, your employee may be pocketing the difference. Just be aware of the receipt situation and make sure no one is using receipts as a method to steal money from you.

Count the Register

Some employees that attempt theft will pocket petty cash or change. They may choose to do so a little at a time thinking it will not be a noticeable amount. However, every penny makes a difference. It takes away from your financing and operating costs. Hence, you need to accurately count register cash prior and after shifts.

The most important thing is to remember not to jump to any conclusions. The majority of employees are honest, dependable, and trustworthy people. Otherwise, you would not have hired them in the first place. It is solely smart to take notice of what is occurring during daily business activities. It will save you money and provide you with peace of mind in the end.

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Return to the Basics and Watch Your Business Flourish

Richard B. — Sat, 09 Jan 2010 00:22:45 +0000

No matter what business field you are in the key to success is through providing excellent customer service through your small business. However, it is surprising how many businesses drop the ball when it comes to excelling at it. Many corporations tend to forget the basics. During these rough economic times, you cannot afford to lose any customers, new or old. Therefore, you must keep these simple customer service rules into play while communicating with consumers ensuring your client base returns, repeatedly.

Communication is essential towards building customer relations. It keeps your clients informed the entire way through. Do not wait for a customer to connect with you before sending out communication. The communication may be about sales specials, newsletters regarding events occurring, status of products bought by the consumer and customer feedback surveys. As long as you are communicating with customers then he/she never forgets your presence. With today’s technology, this is the easiest of customer relation tasks to achieve. For there are cell phone apps, emails, Facebook, Twitter, and other social media marketing tactics available.

Along the same lines as communication, do not lie to a patron. Do not tell a buyer that the item ordered has been shipped when it is clearly still sitting in the warehouse. A client trusts a business that tells the truth and admits to making a mistake rather than a company trying to hide and cover up blunders.

Furthermore, listen to your customers. If your customer needs assistance resolving a specific issue, resolve it. If your customer orders something different from what is received, fix it. Pay attention to a customer’s words and cater to him/her accordingly.

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A Look at How Retailers Triumph in the Midst of a Recession

Richard B. — Thu, 31 Dec 2009 00:32:07 +0000

Retailers and small business owners have been hit hard due to consumers cutting back on spending. The recession is painfully reaching every industry worldwide. Therefore, what do retailers do in 2010 differently than in the past? How do businesses stay afloat during these disheartening economic times? What are the business trends to follow? There are key elements present in big box retail chains allowing sales to remain while others falter.

Concentrate on Consumer Ease

Successful retailers separate themselves from the rest of the pack by focusing on customer convenience. These businesses have examined consumer behavior and traits. They have asked themselves if consumers prefer to purchase the items in the store or online. If the answer is online then the flourishing businesses are ensuring the service is available. It helps make certain earned profits occur regardless of the economic climate.

Provide Value

Consumers are aggressively seeking the best deals no matter how seemingly insignificant the purchase may appear. Therefore, businesses aware of this trend are thriving. For the profitable retailers are constantly comparing prices with competitors and pricing accordingly. Furthermore, offering a benefit at a lower cost than others results in customers flocking. The big box retailers of today know this model and emulate it better than the rest. It is why big box retailers are ringing up sales, while other business doors are closing.

Promote Unique Brand

Target has affiliated itself with designers who create lines specifically for Target only. Fry’s Grocery Stores sell Kroger Signature brand products. Safeway has Eating Right as its original brand found only in Safeway affiliated stores. These are examples of creating, developing, promoting, and, ultimately, selling a unique brand. It keeps these retailers distinguished from other competitors in similar fields.

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