As the cold days of winter come to an end and summer looms on the horizon, now’s the perfect time to take stock of your business and make fresh changes to propel your business to new heights. Tap into this atmosphere of new beginnings and set the reset button on the past several months of hibernation with these 6 easy ways to spring clean your business.
1. Switch Out Your Inventory or Services
Do you have inventory piling up that’s damaged, expired, or just not selling? Review your inventory and get rid of items that can’t be sold, set up a clearance sale, or donate items to charity (make sure to get documentation for taxes).
If you’re a hospitality- or service-oriented business, consider reviewing your list of services and adding new value to your lineup. Whether it’s a refreshing iced tea for your coffee shop or a getaway package for your hotel, bring your customers new ways to enjoy the warmer weather and longer days.
2. Automate More Processes
Technology can do amazing things for your efficiency and time management, and that goes for nearly every aspect of business management. Explore software integrations that streamline your account reconciliation by merging your payments and invoices, recurring billing solutions that automatically charge the customer at set times, or sales reporting and analytics to track inventory and identify which things are selling well.
3. Upgrade Your Checkout Experience
Are you up-to-date with the latest customer preferences and industry trends? Doing so will alert you to ways that you could improve the buying process for your customers, and as a result, grow customer satisfaction and your bottom line. Here are a couple of ideas:
- Diversify your retail platforms by launching an e-commerce site or mobile app
- Accept even more payment types like mobile wallets and contactless cards
- Consider new hardware solutions like pay-at-the-table options or wireless terminals to speed up and future-proof checkout.
4. Revamp Your Website Or Social Media
Are your website and social media platforms ready for 2019? If not, you may want to focus on updating your online presence as it’s a surefire way to boost brand loyalty and sales. Make sure that your website is mobile responsive and that it’s optimized for SEO to grow search results. Start developing a social media strategy if you haven’t yet, which will outline your brand persona and how you plan on interacting with customers. Keep in mind that according to research, 71% of consumers who had a positive experience with a brand on social media are likely to recommend the brand to friends and family!
5. Organize Your Paperwork
When it comes to paperwork, almost every business has room for improvement! Depending on your needs, going paperless and storing data online could be a great way to better maintain files while lightening your load. Or, you may just need to reorganize your paperwork and create new folders (on or off your computer). Another helpful tip is to come up with a plan for future management of paperwork, as regular maintenance will make the job easier next time around. For example, determine a set time every week or every month to review paperwork.
6. Look to the Future
What are your business’ goals, both short term and long term? Have you made any progress with reaching them, and if not, what needs to be done? You’ll find the most success by making your goals SMART: specific, measurable, attainable, results-oriented, and time-bound. If your goals are not concrete, it’s likely that they’ll fall off your radar.
The opportunities are endless to improve your existing infrastructure! And by going about it with a sense of excitement and renewed passion, you’re even bound to enjoy the process.
If you have any questions about upgrading your payment technology, please don’t hesitate to reach out to Fidelity.