Fourth quarter is the selling season between October 1st and December 31st where online retailers usually have the highest percentage of sales during the year. This has been historically true for retailers long before the internet came along, of course.
As 2013 draws to an end, you’re probably focused on closing out the year with a bang. You’ve got to think about taxes, dealing with old inventory and any other details that will help you make sure that the you can move on to next year.
While it’s tempting to just clock out since the year is winding down, the opportunities available at this time of year are huge. Because most companies want to make sure to end December with the highest numbers possible, you can find deals that aren’t available at any other point on the calendar.
The great thing about being a small business owner is getting to know your customers. The folks who come into your shop frequently or contact you on a regular basis are the ones whose stories you remember and whose favorite brand of leather boots you keep in stock.
Appreciation marketing is based on a simple premise: if your customers know that you appreciate them, they’re more likely to keep coming back to you. It’s often easier to convince an existing customer to stick with you than to keep going out and finding new prospects.
If you are in the start-up phase of owning a small business, give yourself some credit because it’s unlikely anyone else will. Small businesses have an extremely difficult time getting credit from the one place they really want it: lending institutions.
The right price is something of a moving target for many companies. You may need to change the tag on a given product multiple times during the period of time you offer it and the more detail you can offer on the decisions to do so, the happier your customers will be.
So you decide you want to issue gift certificates. How does the accounting work for those? It is a little involved, but nothing that is beyond the capability of services like GoDaddy Bookkeeping to handle.
The most common cause of inventory management breakdown is a failure to be consistent, timely, and accurate—simpler put, a failure to “keep up with it.” Whether you manage your inventory manually or you utilize an automated system, you won’t enjoy the desired results of inventory management unless you keep up with the procedure.
Small Biz Club is the premier destination for small business owners and entrepreneurs. To succeed in business, you have to constantly learn about new things, evaluate what you’re doing, and look for ways to improve—that’s what we’re here to help you do.