7 signs your business needs help
As a small business owner, it’s normal to devote significant time, energy and resources to your business. After all, you want to make sure it succeeds, and once it does, you want to ensure it stays profitable and you maximize growth. But while it’s fine to prioritize your business, you want to make sure you’re working smarter, not harder by using outdated technology or inefficient procedures. Here are some key signs to watch out for, and some solutions that can help.
1. You’re still using old-fashioned cash registers
While that “ka-ching” sound may seem reassuring, relying on traditional cash registers is a good indication that your point-of-sale terminal needs an upgrade. Cash, after all, is being replaced steadily by contactless cards and digital payment apps, and your payment solution needs to reflect that by being much more than an afterthought. It’s the frontline of interaction with your customers and it sets the tone for success throughout your operation.
2. You’re not quite on top of your inventory
If you find yourself running out of products, failing to fulfill customer orders on time, or struggling to identify the most popular and unpopular items, these are all lost opportunities and you need help. Imagine an inventory system that integrates with your payment technology, recording every sale, analyzing trends and helping you predict your future needs.
3. You don’t keep track of what your customers like
Your staff may know your frequent visitors by name and have a general idea of their taste, but unless you’re taking notes on everything they buy, you’re throwing that valuable knowledge away. A smart business owner will invest in a POS solution that creates a customer sales database and can analyze that data to target promotions, sales and other incentives to individual customers at just the right time.
4. Managing staff schedules and timesheets is a burden
Chances are you already outsource your payroll or use software to automate it, so why aren’t you getting help with managing your employees’ time? Keeping on top of days off, overtime, vacation requests and the like is not something you need to be spending your precious time on.
5. Your online presence isn’t driving business
Your business has an attractive website and an eCommerce option, but are you truly omnichannel – are your online sales truly integrated with your bricks-and-mortar operations, and are you optimizing them to engage customers and drive sales growth?
6. You’ve lost money due to fraud
Whenever a customer questions a purchase and can prove that their credit or debit card was used fraudulently, you may end up having to refund the purchase or suffering the financial loss of a chargeback. You can’t afford to be using payment technology that is not securely encrypted or is not protected 24/7 by the latest security updates.
7. You’re scared to take a vacation
Every business owner gets a little nervous that problems, like those listed above, will crop up while they’re away. Rather than bombarding your staff with hourly emails from the pool, wouldn’t it be nice to have the option to monitor operations remotely via the cloud, so you can keep calm and carry on with your holiday?
At Elavon Canada we’ve been thinking hard about how to cure such headaches. We offer exclusive, turnkey solutions such as Converge, our omni-commerce platform combining in-store, online and mobile capabilities. These solutions provide customer databases, manage inventory and provide analytic reports on data such as sales trends and client spending habits. All are secured with the latest encryption and authentication technology, come with our 24/7 technical support and can be managed remotely from anywhere. Our solutions also offer all digital payment options, including Apple Pay, WeChat Pay and Alipay, allow barcode scanning and effortlessly enable tipping and promotional discounts.