POS can add a tremendous value to your business

5 Best Practices of Indie Retail Owners

Every entrepreneur knows that the lights don’t off at 5pm each day. Work continues 24/7 since thoughts, ideas, networking, opportunities and more always exist – and certainly surprise us sometimes, as well. To help maximize the nonstop thoughts of small business owners, Retail Minded has a list of the top five best practices for small businesses to refer to.

1. Prioritize Your Time. If you know you have to let go of one idea in order to successfully complete a project at hand, then do so. A good idea is to have a “thought book” that you can quickly write down any thoughts you have, allowing you to reference them when the time is right.

2. Stay True To Your Brand. Your brand can be your store image, a product or even yourself – or all three. Whatever your brand is, though, make sure to stay loyal to. Sure, it can grow and expand, but if you stray too far from your brand feeling, customers can get lost and confused and even worse, become distant. One example of this is when a retailer lets a friend sell their product on consignment… even though it makes no sense for their store. Remember to always think about the big picture and if your brand tells a consistent story.

3. Add Value to Every Move. You can promote a product, process a sale and call it a day. Or you can sell something, enjoy the process of the sale, create a memorable customer experience and look forward to seeing a repeat customer again one day. The idea is to add more value to every move you make as an entrepreneur. These moments create memories and the memories you make should be valuable. It’s a domino effect for your business… the dominoes keep falling and creating opportunities or they can crash and fall without an continuation.

4. Lead by Example. A smile goes a long way, but true passion in what you sell, how you manage, the way you talk and the overall communication you offer can help – or hurt – your business. Your best bet? Be someone you would want to work for, with or as a partner to.

5. Be Open to Change. Sometimes change can come in the form of learning something new. Other times it may mean implementing a popular social trend into your business practices. Often it simply means letting go of a vendor you love after accepting their product isn’t selling. What does change mean to you? Be open to it, and your business will be more open to thriving.

Finally, enjoy the entrepreneurial ride. It’s a busy one, but a worth-wild one.

Want more support of your indie business? Check out Retail Minded Magazine – the only retail lifestyle magazine that supports retailers both in and out of their stores!

Post a Comment


This blog accepts forms of cash advertisements, sponsorship, paid insertions or other forms of compensations. While we may receive commissions when you click on some of our links and make purchases, this does not impact our reviews, comparisons, opinions or thought-leadership perspectives. Please note we also welcome contributed content and there may be links that are affiliate oriented within these contributions, as well. Retail Minded always aims to deliver trusted news, education and support for our readers.

Read More about our Privacy Policies



Retail Minded on Entrepreneur
Retail Minded on Fiverr
Retail Minded on Forbes
Retail Minded on Gift Shop
Retail Minded on LRG
Retail Minded on Museum and More
Retail Minded on NBC
Retail Minded on Party Paper
Retail Minded on today