Being Ready! Is your business retail ready?
Is your business ready? Is it ready and poised to accept all the opportunities which may come its way?
As Business Owners there are times of the year when you need to be ready, you know when you have to submit your accounts, pay your VAT, Corporation tax or PAYE and the list goes on. We ensure we don’t miss these deadlines as there are usually financial implications/ penalties.
But, have you ever considered how much not being business ready for the impromptu PR or Sales opportunity may be doing just as much damage to your business by not being in a position to seize and capitalise upon them?
As a company I would like to think that we are generous with our knowledge and expertise, not always profiting from them, but understanding and working towards the bigger picture. The bigger picture in this case being able to work with the brands of today who will be the industry leaders of tomorrow.
So how does a business prepare themselves for these opportunities? Well, below I have identified a few keys points on being Sales Ready and a link to how to be PR ready…
You and your business presence:
- Do you have a profile story for you and your business? (this may be two separate documents?)
- Do you have quality and relevant photos of both yourself and your products?
- Does your company have a positive, up to date image online and offline?
- Do you have a fully functioning website?
- Is there consistent activity on your social media?
Knowing your business:
- Your customer profile, how well do you know your customer?
- Where have you previously traded?
- How successful is your brands, quantify it?
- How do you communicate with your customers, what channels do you use and frequency?
- Have you received any press or media coverage about your brand? if so is it readily available?
- Any celebrity endorsers, clients etc?
- Have you advertised or promoted your products if so where / when?
- Have you or your business won any awards if yes which ones and what for?
Knowing your Locations;
- Have you done your research, both location and stores, where would you like your products sold?
- What are the values of the stores you wish to approach is it a natural fit?
- Do you have a track record of trading, if so where? Online / Offline, both?
- What is your USP, why should a buyer take your product over the next business, what need in the market does your business satisfy?
- Be realistic, what size orders is your business able to fulfill if it was to get a bigger order than usual, does your business have the capacity in place to deliver?
- Know your numbers, how much are your products and what kinds of deals are you willing to enter into? In an ideal world a company would just put in an order for a shed load of your products, you deliver and they pay. However this is not always the case.
- What kind of branding / POS material can you supply to the stockist.
- Will you be contacting the retailers yourself or go via an agent?
The list above is not an exhaustive list and your experiences may vary depending on the type of stores you supply to.
However, you decide to approach it, the above bullet points are highlighted to give you food for thought and prepare you and your business.for sales success.
Be Ready, Be Bold and Be successful!