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The 7 Habits of Highly Effective Shops

When you are in the thick of conducting your business, it can be difficult to gauge what you need to do to ensure the success of your shop, store, or restaurant. Each market has its own set of best practices, and even shops in the same market vary a lot from each other.

However: successful shops do share similar “habits” which contribute to their success. Just like highly effective people, businesses are all very different, but they engage similar thought patterns that propel them forward. The book ‘7 Habits of Highly Effective People’ explains those thought patterns for people well. So, in that vein, we present to you the 7 Habits of Highly Successful Shops:

    1. Be proactive… with marketing. Being proactive with your marketing means doing strong research. Know who will need your product or eat your menu items before they actually do. This will help you anticipate their needs to maximize in-store opportunities. Also, good research helps you know how to build trust and loyalty, which is essential to a business’s stability.
    2. Have a clear goal in mind. Marketing and research are useless if you don’t have a specific idea of what you want to accomplish with it. Obviously, the underlying goal of marketing will always be to make more money — but you have to be more specific about how and by when you want to accomplish that goal. For example, if your boutique sells a particular color purse that can’t be found anywhere else, you can anticipate that demand for that purse will rise. Your goal will be to promote that color and model purse, to serve the ultimate purpose of increasing sales. Or say sales are going down due to a similar restaurant opening up nearby. Your goal might be to renew interest in the menu. Goals are broad, general statement of what needs to happen in order to fulfill a vision for the store. Objectives are the specific numbers needed to accomplish those goals.
    3. Put first things first. Having a solid business plan and marketing plan allows you to focus on the things that matter and stay on track. There are many, many tasks that a growing company must accomplish, as well as hundreds that are tempting … but ultimately a distraction. A solid guide helps you to prioritize and plan your days around your goals.
    4. Help your customers win. Customer loyalty is a precious commodity for any growing business. Loyal customers shop more often, and spend more when they do. They are also most likely to refer their friends and speak well of the company. Be sure to always provide outstanding customer service to each customer and offer them rewards for their purchases. Asking for their input also goes a long way. A few short questions at the end of a transaction can give you all the information you need to create effective campaigns and develop loyalty. Remember, think win-win. When you customers wins, you win.
    5. Seek first to understand. In order to develop customer loyalty, you will need to understand your customer. Of course, developing intimate relationships with everyone that walks through the door simply isn’t realistic. But, you can keep track of purchases, compare data from campaigns and do surveys as mentioned above. By understanding who your customer is, you have a greater chance of converting them to loyal customers.
    6. They synergize. When it comes to running a shop, finding ways to work as a team is critical to your success. Whether that means delegating some of your responsibilities or joining forces with an influencer in your industry, synergizing adds power to your endeavours. If you run a niche boutique, consider reaching out to a blogger with a large audience to work with. Or restaurants can hold functions with other nearby restaurants to draw more people to their area. But remember, too many cooks in the kitchen can also create a mess. Be sure to work with people who have a clear vision of what you need to accomplish.
    7. Sharpen the saw. Keep up to date on the latest trends in technology and in your industry. In today’s fluctuating market, you must get accustomed to change. Always keep the mindset that you must never stop learning. As soon as you do master a business trend, cooking technique or system, it gets updated. By staying sharp you help keep your business ahead of the curb.

No matter how often you’ve dreamed of running your own business, the day-to-day details are always surprisingly difficult.  Periods of growth and slow down each bring their own sets of complications. By learning from successful shops and practicing their habits, your shop can also enjoy success.

And of course, we here at Sync payments know just the right apps to help you out. So when you are ready to take the dive with better marketing insights, loyalty programs, customer feedback, or something new entirely, talk to us. We’ll help you keep the saw sharp!

For more information on how we can assist you with your business needs, visit clover.syncpayments.com

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