For businesses of all sizes, this is the perfect time to plan for the season ahead and prepare for new opportunities that could lead to increased sales and customer engagement.
While there are many approaches to spring cleaning, here are the top three business practices we think everyone should consider this year:
1. Implement inventory management: Using an advanced inventory management system can help retailers view each product line’s performance, compare seasonal sales and leverage data. For example, coffee shop owners can use sales data from previous years to identify which coffee flavors are most popular in the spring and use this information to drive purchasing decisions and promotions.
2. Set new business goals: The start of a new retail season is the ideal time to execute new business goals, such as making the shift to e-commerce or expanding. But stick to it! According to the 4th Annual Staples National Small Business Survey, 80 percent of small business owners don’t keep track of their business goals, and 77 percent have yet to achieve the vision they originally set for the company. Set a specific goal with measurable results for the year and check on its progress during next year’s spring cleaning.
3. Renew corporate documents and licenses: Take the time to ensure appropriate documents and licenses are generated, filed and up-to-date as you enter the spring season. Re-applying for certain permits and licenses can be time-consuming and costly if they expire. Many small businesses do not have the means to hire an individual to ensure compliance with legal requirements, which makes spring cleaning an opportune time to renew these documents.
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