6 habits every retailer should adopt

Summer is over and the fall has come. Take the opportunity to adopt some new habits that will make your life as a small retailer easier – and your business more successful!

1. Look over your inventory routines often. You probably launched your store because you love a particular type of product. If you enjoy buying the same inventory to sell you might forget to continuously monitor trends, listen to customers and base decisions on sales reports. There is no reason to keep winging it! At the end of the day you serve your clients – not yourself.  Following that philosophy, you’ll replace a product or a product category that’s declining with something relevant and more sought after. 

There is no reason to keep winging it!

2. Fully use your Point of Sale-system! Add all your products in a product library and keep it as an organized hub. Finish up sales with sending an email receipt – and that way collect the email addresses of your customers. Using a Point of Sale app every day – for every transaction – keeps your business running smoothly. The iZettle POS app is a powerful tool that makes it simple to sell, sell and sell.

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You were born with two ears and one mouth for a reason, so that we can listen twice as much as we speak.

3. Listen more! You have heard this one before – in case you listened. Listening is a great way of building credibility and trust to your employees – as well as better understand the needs of clients and customers. As an essential part of communication, it’s one of the most important skills for anyone with the intention of doing business or maintaining a relationship. Remember that we still today have one mouth – and two ears.

You have heard this one before – in case you listened.

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4. Multitask with care. When you complete a smaller task, your brain rewards you with a small dose of dopamine. Those small instant rewards make it highly addictive to keep multitasking. Keep that in mind when you catch yourself jumping between tasks next time. A lot of recent research even states that multitasking can be harmful. Also, according to Business Insider, only 2% of people are actually good at it.

Those small instant rewards make it highly addictive to keep multitasking.

5. Get an extra hour of sleep. You have probably heard that successful people wake up extremely early. Like at 3.30am – so they have already completed a full day when you’re about to begin yours. Whenever Albert Einstein actually went up or not, actually prioritize sleep the fall of 2016. Most grown-up individuals functions properly for about 16 hours and need somewhere around 8 hours of sleep, while some require as little as 6 hours. Remember that eating healthy, working out – and sleeping properly – always should be on top of your prioritization list. Only then, you can make the best decisions and come up with the most unique and competitive ideas!

 

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To allow yourself to spend time with friends and do totally unrelated activities might give you that different perspective on the challenges you’re facing in your business.

6. Get a life – outside work! Many startup entrepreneurs eat, sleep and breath their business. The old Stanford professor John Pencavel proved that above a threshold, work output rises at a decreasing rate as hours increase. What does that mean? Basically, the more you work, the less you produce – when you go above 50 hours per week. Pencavel also found out that everyone benefits from taking one day fully off per week. If you can – embrace Sundays!

Published by

Gustaf Sjöholm

Blog Editor at iZettle

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