Time is of the essence – so we’ll make it quick. We’ve put together four simple and easy to business tips to help you grow. Try them out and let us know the results on Twitter at @Yoco_ZA.
Foot traffic is essential if you have a physical store – so make it as easy as possible for new customers to discover you. The easiest way to do this is to walk in your customer’s shoes to understand their buying journey and find where you can improve.
Take the path where majority of the foot traffic walks and see what catches your eye.
- As you approach your store, is it easy to see what you offer? Make sure you have clear and visible signage.
- Is it obvious how and what to choose, and what your prices are? Well-labelled products help your customers find exactly what they’re looking for.
- Does it make sense where and how to pay? Make it as easy as possible for your customers to complete their purchase as smoothly as possible.
Negotiate with suppliers
One of the quickest wins for your cash flow is renegotiating payment terms with your suppliers, or finding similar suppliers with better payment terms. The shorter the time between getting paid and paying (and where possible, being paid before you pay) the better.
Want to start managing your cash flow better? Check out these useful tips and free template.
Team “bring your own sunshine”
How do you start your day and how do you maintain energy levels? And how do you make sure your team keeps going throughout the day? Music is a great tool to energise your team and maintain a positive and productive environment.
There are some easily accessible music sources out there with curated playlists based on the mood you’re trying to create. Spotify has launched in South Africa, and Google and Apple both have good services and at the cost of R2 per day (we promise, it’s worth it). Unsure which service is the best for you? Check out this comparison article.
Your customers are your best source of information on what to tweak in your business and how you can improve. From informal chats to structured focus groups, the feedback you receive can prove invaluable.
Find out, from your customers that buy and those who don’t, the following:
- what they love
- where else they go
- what made them choose you
- what made them not choose you
Once you have an understanding of this you will know where to focus to take your business to the next level.