By Yasmeen Ellyazidi
With the back-to-school season in full swing, many business owners find themselves leaving behind vacations and relaxing getaways and getting ready to get back to it. This has many business owners feeling inspired to make updates and upgrades in their business. Here are a few tips to make sure your business is ready.
You may not be in the market for a backpack and colored pencils, but the fall can be a great time to buy new supplies for your business. Most businesses have an element of seasonality — for some, the summer is busy; for others it is quiet. Either way, spend some time right now reevaluating your inventory and making purchase decisions for the remainder of the year.
Start with product inventory and then assess your office/operating supplies. Look at operations data from last year (and the year before, if possible) to get solid estimates of the inventory you’ll need through the end of the year. If you find that you need to move aging products or sell this season’s style to make room for upcoming product offerings, offering incentives can be a great way to move product while also building your brand.
Incentives that encourage customers to visit your store and bring a friend can be particularly effective, according to Small Business Trends: “Give your customers a reason to bring a friend next time they come in to visit … people love sharing their favorite spots and being able to get offers and discounts from doing so.”
Read the rest of the article at rgj.com.
Yasmeen Ellyazidi is a fourth-year student in the University of Nevada, Reno College of Business. She knows all about going back to school — and helping Nevada SBDC clients go back to business.