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Preparing Your Small Business for the Holidays

Posted by in Accounts Receivable Financing, Small Businesses

Ready or not, the holiday season is coming — and this year, sales are expected to spike higher than usual. If you haven’t yet, now’s the time to start preparing your small business for the holidays. We’ve compiled the best tips from Inc., the National Federation of Independent Business (NFIB) and Entrepreneur:

1. Get working on a strategy NOW. Remember, shoppers can be fickle. Don’t assume you last year’s strategy is going to work this year, too. Take a look at previous holiday sales; fine-tune what worked, and eliminate what didn’t. If you haven’t incorporated social media in the past, try it out this season.

2. Stock up on popular items. You should have an idea of what products will be big this year. If you aren’t quite sure, analyze direct mail catalogs from big retailers in your industry. This should help give you a better idea of what’s trending! If you don’t have the capital necessary to stock up, contact RMP Capital at 631.738.0047 and ask about our Accounts Receivable Financing Program.

Preparing Your Small Business for the Holidays - RMP Capital

3. Hire holiday staff. From a consumer’s standpoint, there’s nothing worse than waiting in an unreasonably long line in an overcrowded store. Do your best to keep your business sufficiently staffed throughout the holiday season. Otherwise, potential customers will simply find what they’re looking for elsewhere.

4. Give your systems a tune-up. Ask your IT department (or hire an outside contractor) to make sure your systems are running smoothly. On a busy shopping day, even a minor problem could hinder your holiday sales. Think of it as a check-up for your point-of-sale system!

5. Consider revamping your website. These days, your business website doubles as a business card. Make sure yours is up-to-date, including contact information, sales and promotions, and of course a slick design.

For more small business tips, connect with RMP Capital on Facebook, Twitter, LinkedIn and YouTube today!

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