When you own or manage your own business, there's no shortage of tips and tricks out there to help you improve efficiency and increase your bottom line. However, many of these pointers on running your business are completely obvious, with common sense notions like "train your staff", "use social media", and other dime-a-dozen pieces of advice.
But to really hone in on what you can do to improve your business, you've sometimes got to take the road less traveled. Check out these three simple-but-not-so-typical ways to up your game at your restaurant or retail space.
1. Visit Your Competitors
Forking over money or time to your biggest competitors may not be the first thing on your to-do list, but it probably should be. Despite what you think about your competition, there's a lot you can learn from them.
Take some time to research and analyze your competition and pay a visit to their restaurant or storefront. Here are some ways you can stay up-to-date on what your competitors are doing so you can stay a step ahead:
- Visit their website
- Buy some of their retail products or try their food or drinks in person
- Join their email list to keep up with what they’re up to
- Analyze how and who they hire
Once you have a good idea of your competitors’ strengths and weaknesses, make a note of them and learn from them. You can take this a step further by attending industry conferences and reading up on industry blogs, articles and publications to stay in the know.
2. Pander to Younger Generations
Long gone are the days when the rich and powerful are all over forty years old. These days, Millennials and Gen Zs are taking the reigns, and your business should follow suit. Take them seriously. They aren’t just college kids and teenagers, in fact, they have access to serious cash and even more influencing power than other age groups.
Now that Instagram influencers and the social media obsessed can make or break your businesses' reputation, it's time to pander to these younger generations on some level to stay relevant and profitable.
Not sure what makes these younger generations tick? Simply check out the wealth of research into these entrepreneurial and tech-savvy demos, just a little digging can tell you a lot about how your business can pivot to attract the most revenue-impacting generations in the world today.
Millenials and Gen Zs are rarely on desktop computers and almost always on mobile. Is your site mobile-optimized?
If your only social and ad platform is Facebook (or worse, nothing at all), you’re not reaching the most powerful buying market on the platforms they flock to: Instagram, Snapchat and TikTok.
If you own a restaurant that doesn’t offer online ordering or a retail store with no online presence or e-commerce integration, you’re basically shutting out the largest and most influential market from purchasing your goods and services. It’s time for change.
3. Ditch Your Old POS
Your old, trusty point of sale system or POS may be a familiar crutch (hey, you and your staff already have the hang of how to use it and you’ve got a system down for opening, closing and running daily operations), but is this crutch crippling your business? It’s time for an upgrade.
Improving your business and your bottom line starts with having the right tools at your disposal. Business intelligence tools that can track your stock, sales and employees while calculating reports that give you serious insight into what to do and what not to do to make more money.
Are you ready to sell your products online or offer online ordering or delivery? The right POS can easily make that a reality, with no hiccups along the way.
Contact Us for a Free Demo
We could go on about all the amazing ways our intuitive point of sale software and hardware can revolutionize and improve your business, but every business is unique and you deserve to hear first hand how easily you can transition your current point of sale system to something more efficient and affordable. Contact us today to get started.