4 steps to take before starting a business in NSW
The joy gets real when it hits peak trading season. From wild-eyed customers to semi-frazzled staff, tensions run high. Here’s the Tyro top 5 for staying on top of this festive season:
1. Set your strategy
Before the Australian summer even begins, it’s deal central for festive shoppers and function organisers. So your first job is to consider your customer strategy – importantly, by understanding what they want, when they want it and making sure you’re giving it to them.
For smaller businesses that don’t have the big marketing budgets, offers are key. Not only a great way to get noticed early and stay ahead of your competitors, offers also provide priceless insights into which of your products are best sellers. So you can forecast sales, prepare your inventory, and hit your targets.
2. Stock up
With everyone rushed off their stockinged feet doing the inventory and keeping customers happy, it can be easy to forget about the quiet achievers behind the scenes – your receipts and EFTPOS machines.
Some people will be after a receipt for their purchases, and with more customers coming through your paper rolls will likely be exhausted much quicker than any other time of the year. Order in bulk ahead of the rush – you can order paper rolls easily though the Tyro App or Tyro Portal.
And remember, more foot traffic means longer queues. So think about adding one or two more terminals for the duration. It’ll take the pressure down and keep the service up.
3. Get festive
Now is the time to go big on the jingles. Introducing seasonal items like Christmas, Summer or New Year’s themed products will keep your business relevant and help boost in-store and online traffic.
If you send out newsletters, be sure to tailor the message and use a festive theme. Decorate your store. Getting customers into the spirit can develop genuine connections with your brand and attract repeat business.
4. Prepare your tech
Before the busy period starts, make sure you update your website and/or social media pages to show the latest info about your business. Investing in user experience design is particularly important during these rush periods. The aim is to ensure your website can accommodate the increased traffic.
It’s also important you and your staff know how to get answers to any technical questions you might have. If you need any assistance with your Tyro EFTPOS machines, our Australian-based Customer Support team is here 24/7. Contact 1300 966 639, firstname.lastname@example.org or jump onto Tyro Help for guidance and answers.
You can also stay in the know on the status of Tyro’s systems at: status.tyro.com. At this status page, you’ll be able to see the real time status of our various processing systems, eg. Terminal connectivity and transaction reporting. Be sure to subscribe to ensure you receive notifications when something is going on.
5. Think ahead
With all the holiday season prep, the costs can creep in. So think ahead, plan your expenses and put extra funds aside to cover additional workers for increased shopping demand, overtime/holiday pay rates and increased stock orders.
With this in mind, you could also consider if a Tyro Business Loan – which allows you to repay as you trade1 – would be right for you. Take a look here for more information: https://www.tyro.com/solutions/business-loans/
1 Subject to minimum repayments