How to Get Your Retail Business Ready for 2017

Whenever the year is drawing to a close, retail stores seem to be at an all-time high. The holidays, gift-giving and get-togethers drive people to the shops to pick up presents or treat themselves to some new things. Amid this peak season in retail, it’s easy to get caught up in the bustle and neglect to spare some time to prepare for the future.

This is a basic mistake that you can’t afford to make if you want your retail business to thrive in the coming year.

Good business owners should have a futuristic point of view. Having long-term plans and goals in place prepares your business and helps you map out strategies that will expand your company and take it from one year to the next.

The New Year is only a few weeks away. Whether you have already laid plans for next year or not, here are some effective plans you can use to get your retail business ready for 2017:

Plan #1: Backup Important Data

How many backups of important files do you have in place? Do you have a regular schedule of backing up information?

In business, saving information is not enough. You must also make sure that the quality and quantity of files saved are relevant and sufficient.  

Don’t scrimp on your back-up files. In addition to those saved on your Cloud or Google Drive, make sure that your files are also kept in an encoded device or USB flash drive. This way, if you encounter any technical problems on your internal storage systems or if your account has been compromised, your files will still be intact elsewhere. You don’t want to start from scratch when the New Year comes.

Plan #2: Get Your Invoices Ready for Tax Time

It’s never too early to prepare for tax season. In fact, the earlier you prepare, the more relaxed you will feel when the time comes.

Prepare your invoices by making copies and tracking missing receipts. This practice may sound tedious, but it will simplify your financial records. Keeping this plan will not only prepare you for tax season; it will also give you a clear, concrete record so you can track the financial standing of your business.

Plan #3: Keep the Company’s Reputation in Check

Do you know what comes up when you Google your business name? Are you aware of how your products fare with your target market?

It is important to always be on the lookout for the reputation of your business. Reputation management and damage control are even more crucial in the fourth quarter of the year. People want to invest their hard-earned money and much-awaited bonuses on quality products. You want to make sure that your business steps into the coming year in the best possible light.

Outsourcing the task of reputation management to a virtual assistant is the easiest, most effective way to carry out this plan. Plus, virtual assistance frees up your hands from administrative duties so you can focus on other business matters that only you can perform.

Bonus Tip: Be in the Loop for the Retail Trends in 2017

You can’t get your retail business ready if you don’t know what to expect from the coming year. Here are some of the top trends that 2017 holds, according to experts:

• Mobile experience will be more relevant.

  Integrate mobile services to your business. This could be about how purchases are made or customer rewards and membership perks.

• Convenience is top priority.

  With rivals sprouting everywhere, the easiest, surest way to reel in customers and keep them as regulars is to make their shopping experience as convenient as possible.

• Integrate your social media to your physical stores.

  Your social profiles or website and physical store should mirror each other. This integration is key in brand awareness.

The future only looks intimidating if you’re not prepared. Thankfully, these plans will ease your retail business from this year to the next and make sure you start 2017 with the best foot forward.

 

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