I consider myself lucky to have worked closely with both big and small businesses. From my experience, it’s the small retailers that are much more organised than their larger counterparts.
Small retailers have the freedom to be more innovative and agile, willing to try anything to make up for limited resources. However, this same ambition can lead to disjointed systems that cause more headaches than they fix.
Vendors must strike the right balance where passion, innovation and attention to detail come together with smart technology and solid oversight. The result is a business that can zoom out from day-to-day processes and focus on what really matters: growth, culture, sustainability and people.
Streamline with technology
The small businesses that thrive, are the ones who understand the value of technology, especially the tools that improve efficiency and productivity. With the right software, you can save time and gather valuable data to make better decisions.
It’s essential to use technology that moves the needle and supports more than one function of your organisation – something that can be tailored to your what you really need.
There are plenty of low-cost options to streamline operations and support better customer experiences. From inventory management to point of sale systems and customer data platforms, technology does not need to be expensive to be effective.
If a system costs $1,000 a year per store but saves 20 hours of work per month, it’s a no-brainer. The key is to invest in technology that’s going to save time, improve your operations, and, ultimately, allow you to offer a better customer experience.
There’s always a learning curve when implementing a new platform. It takes time and patience, which is why solid customer support from any technology partner is essential.
One person overseeing all operations
This may sound counterintuitive to a small business, but hear me out. It’s going to be hard to see the bigger picture if you’re trying to do everything yourself. Between tracking inventory, managing sales, handling social media and maintaining customer service, it can be a juggling act. The solution? Bringing someone on board to oversee all operations.
This doesn’t mean you need to hire a manager with a big title, or an expert across every single function. You just need someone who can see where things are running smoothly and where things are falling apart. To be able to drive change in business processes at all levels, they must also be influential and charismatic.
Having someone dedicated to the bigger picture of your business will allow you to focus on what matters most – your customers, culture and long-term vision. While it may feel like an added cost, it’s ultimately an investment in your success.
Achieve a great work-life integration
Zooming out isn’t just about growth, it’s about building a business that allows you to maintain a healthy work-life integration. How can you expect to perform at your best for your team, customers and in your personal life if you’re running yourself into the ground?
I’ve seen first-hand that small businesses, including retailers, are capable of incredible things. They just need the right combination of innovation, technology and strategic oversight to cultivate a positive culture and grow a successful and sustainable enterprise.
