A reliable internet connection is essential for businesses. It's not a luxury anymore. If the internet goes down in a shop, EFTPOS stops, and that often affects half the business's trade.

Here are some valuable lessons about choosing the right Internet Service Provider (ISP) that I have learnt from my personal and business experience, both personally and from my many clients Australia-wide.

1. Internet Speeds: The Need for Speed

Today in business, slow internet is just not going to cut it. Here's what I've found works best:

**Minimum speed: Aim for a download speed of at least 25 Mbps; this is the bare minimum for basic operations today.

• Suitable range: 50-100 Mbps for most small businesses. This range allows for multiple devices and more demanding tasks.
• Video conferencing: If you're planning on Zoom calls (and who isn't these days?), you'll want to be on the higher end of that range. 100 Mbps gives a smooth experience even with multiple video calls happening simultaneously.

Today, high-speed internet for business is a positive plus.

2. Reliability: The Backbone of Business Internet

Reliability is so important when it comes to business internet. A dropped connection can mean lost sales and frustrated customers. Today, EFTPOS stops often. Many clients have lost half a day trading just over that! So what I suggest is:

Ask around

Chat with neighbouring businesses about their experiences. When I moved to a new location, the cafe next door saved me from making a big mistake by warning me about their unreliable ISP, whose local cable was causing them many problems.

Check reviews

Look at Google reviews, but be smart about it:

- Aim for providers with ratings around 4.2 stars. This sweet spot often indicates a reliable service with realistic customer feedback. I am wary of perfect 5-star ratings—everyone has terrible reviews; if I see no bad reviews, I think they're scamming me.

- Read what people say about their average response times. The faster, the better for your business.

- Focus on recent reviews—last month's feedback is more relevant than last year's. ISPs can change quickly, for better or worse.

Uptime guarantees

I will discuss this in another post. I would not take these Service Level Agreements (SLAs) with guaranteed uptime too seriously. They're often more about marketing than actual service quality.

3. Data Limits: To Cap or Not to Cap?

Unlimited data plans are becoming more common and often cost the same as capped plans. My advice?

-  If you need more clarification about your usage, go unlimited. It's better to have too much than too little.

- If you're on a tight budget, a capped plan might work, but be careful. I once exceeded my cap and faced a bill triple my usual amount!

- Look out for hidden fees or charges for exceeding data limits. Read the fine print! Some providers slow your internet down rather than charge extra if you exceed your limit.

Pro tip: Look at your current usage; it should give you a clear picture of your needs and help you choose the right plan in the long run.

4. Price and Fees: Balancing the Books

We're all watching our bottom line, especially in retail. Regarding internet costs: -Research first, then set a realistic budget based on your business needs.

- Remember, the cheapest option is only sometimes the best value.

-The dearest is only sometimes offering the best service; one of my clients took one of the biggest ISPs to court for lousy service. That one was certainly costly.

- Consider the cost of downtime. A slightly more expensive but reliable service can save you money in the long run.

- Business internet providers tend to be dearer but claim to be better. I am not convinced that they are better.

5. Customer Service: Your Lifeline When Things Go Wrong

Good customer service can be a lifesaver when your internet goes down. Here's what to look for:

- 24/7 availability is becoming rare, but it's gold if you can get it.

- Multiple support channels: Phone, email, and chat options give you flexibility. Even today, with chat and emails, I often prefer phone support.

- Local support: A physical store nearby can be a huge plus. I've had a problem with my internet, which the modem could have caused. As I was with an Optus reseller, I grabbed the modem and went to my local Optus shop. They tested it, told me it was faulty and sold me a new modem. I was up and running in an hour!

6. Technical Support: The Devil's in the Details

When it comes to tech support, not all ISPs are equal. Make sure you understand:

- What's covered in their support package? Some only cover connection issues, not device problems.

- Do they only support their modems? You could have a problem if you do not use their modem. I once spent hours troubleshooting a connection I used, only to find out my ISP didn't support the business-grade router I was using. Always clarify these details upfront!

- Are there limits on the types of issues they'll help with? For example, some won't assist with Wi-Fi setup or network configuration.

- Do they offer on-site support for complex issues? It can be invaluable for serious problems.

7. Local Availability

Having a local presence can be a game-changer.
They can quickly replace faulty equipment without waiting days for a new modem to arrive by post.

8. Scalability: Growing with Your Business

Your internet needs will change as your business grows. Look for an ISP that:

- It offers a range of plans you can easily switch between. I started with a basic plan and upgraded three times as my business expanded.

- Look at the business NBN plans first to give you an idea of what to look for.

- Allows you to your grade or downgrade without penalties. Flexibility is key in the ever-changing retail landscape.

- Provides business-specific plans that can grow with you. Features like static IPs or multiple lines might become necessary as you expand.

- It offers add-ons like additional data or speed boosts, which is nice.

9. Connection Type: Choosing Your Digital Highway

Connection Type

The two leading players in Australia are NBN and 5G. Here's my take:

NBN is generally more reliable for business use and will probably be the best internet for small businesses. I've found it to be more consistent, especially during peak hours.

5G: It has great speeds but can be less consistent. I have clients who use 5G and often have problems when it rains. It's improving rapidly, though, and might be the future.

Starlink: I have a client who uses this. It has excellent speeds, but it's dearer. It is good.

Tip: Check what type of NBN is available in your area. Some regions use wireless NBN, which can be less reliable than fibre.

10. Contract Terms: Flexibility is Key

When it comes to contracts, shorter is often sweeter. Be wary of long-term contracts with hefty termination fees. One of my clients had to pay to exit a three-year contract early. Know what you're committing to. Pay attention to automatic renewal clauses and price hike conditions. Look for contracts with a satisfaction guarantee or trial period. You have a safety net if the service doesn't meet your expectations.

11. Bundled Services: More Bang for Your Buck?

Many ISPs offer package deals. These can include, among other things, a small business phone and broadband deals.
-If you need these services, the bundle can save you money.

12. Security: Protecting Your Digital Assets

In all my years, I have had only one client complaining about it. Most Australian ISPs take security seriously.

Conclusion: Making the Right Choice

A solid internet connection is the foundation of modern business. Take the time to choose wisely.

Brochures are a cornerstone of modern marketing strategies, offering flexibility across tangible and virtual platforms. The topic of effective brochure design recently came to the forefront when a client recounted their experience developing promotional materials.

​

 I learned that after exploring various options, my client highly recommended a web-based application. I pass on his suggestion here because I think it's a good one. 

The Enduring Value of Brochures

Brochures remain a versatile and impactful business asset:

1. Dual-format flexibility: They are effective in both print and digital forms
2. Ideal for detailed product or service descriptions
3. A visual embodiment of your company's identity
4. Suitable for events, direct mail, email, and social media sharing
5. In a digital world, physical brochures provide a tactile experience that can leave a lasting impression
6. Modifying your brochures to specific audience segments or as conditions change is easy. 
7. Cost-effective compared to some digital advertising methods as they have a high return on your investment.

Brochure Design Software Comparison

Brochures are bigger than pamphlets, and I suggest looking for something that can handle something more considerable.

- Free trial option: I recommend testing a system out before committing to it. So, a free trial is a big plus. Sometimes, some software does not fit you; I am shocked about how some people's minds work.  Anyway, test the platform before committing.

- Look for a user-friendly interface that works for you. Check that it is easy to use

- Growth potential: You do one brochure, you probably want to do another and another, and as you get better, you will want something that you can grow into. 

- Check that it has many customisable templates and a wide range of professional templates to suit your business and style. You do not want to keep starting from scratch with every brochure.

- Today, everyone wants to work wherever they are. This is a big plus if your software is available on the web and so accessible from any device with an internet connection

- Export options: Flexibility to export in various formats suitable for both print and digital distribution. You will find that different people want different formats.

Effective Brochure Design Tips

To ensure your brochure makes a lasting impression, it's your business, and you do not want to appear unprofessional, so consider these tips:

Eliminate Errors

**Proofread meticulously**: Typos and spelling errors can significantly undermine credibility. Please have multiple people review the content before finalising. A helpful tip is to read the text backwards; it can often show mistakes.

Stay Current

**Feature up-to-date products**: Ensure your brochure showcases your latest offerings to avoid misleading potential customers. I had a client who used a picture of a spa model. Soon, it became an old model, meaning the brochure became useless. 

Optimise for Various Devices

**Test across platforms**: Your e-brochure may look different on different screens. Use online tools to preview how it appears on other devices, such as iPhones and Samsung mobiles. One site that does this well is here.

Prioritise Readability

**Focus on text layout**: No one will read a poorly organised brochure; all you do is deter the reader. Aim for clear, concise, and well-structured content.

Balance Information

**Avoid information overload**: While including every detail is tempting, focus on key messages. A picture is often better than words.

Maintain Consistency

**Use a cohesive design**: To create a professional look, stick to a consistent colour scheme, font selection, and style throughout the brochure.

Choose Colours Wisely

**Ensure legibility**: Select colour combinations that enhance readability. High-contrast options, such as black text on a white background, often work best.

Use High-Quality Images

**Incorporate professional visuals**: High-resolution images can enhance your brochure's appeal significantly. Consider contacting suppliers for professional product photos. I have yet to meet a supplier who has not been helpful here. 

Include Accurate Contact Information

**Double-check details**: Ensure all contact information is current and easily visible within the brochure. 

I had a client who forgot to include their contact details. What is the point of making a great brochure if the potential customer needs to learn who you are? 

Prioritise Content Over Design

**Focus on your message**: While the design is essential, the content should be your primary focus. Communicate your value proposition and key selling points.

Brochure Design Best Practices

To avoid common pitfalls and create genuinely effective brochures, consider these best practices:

1. **Plan**: Start by looking for something good. It will give you a good idea of what to do.

2. **Work from what you know**: Working with what you know and move into what you do not know. Fill in what you can and then slowly work into the unknown. It will fall into place. 

3. **Allow ample time**: I would not rush it.

4. **Consider your audience**: You are not writing for yourself but for your target market.

5. **Incorporate a clear call to action **: You need to explain to readers what to do after reviewing your brochure.

6. **Optimise for the proposed format**: Check separately for print and digital distribution. What works for one does not work for the other.

7. **Links**: For e-brochures, incorporate clickable links or embedded media to enhance engagement. 

8. **Use QR codes**: QR codes are used on printed brochures to link the gap between print and digital experiences.

9. **Use graphs or infographics**: Do not use heaps of figures; instead, use graphs and other visual representations of data to make complex information more digestible.

10. Use appropriate font sizes and colour contrasts to ensure your brochure is readable for individuals with visual impairments.

Remember, your business image is on display in every brochure you create. Allocating time and resources to design sophisticated, engaging brochures results in powerful promotional assets that yield results across traditional and digital mediums. A well-crafted brochure, adept at presenting products, underlining services, or narrating your brand's journey, can serve as a linchpin in your marketing strategy, aiding in differentiation and leaving an indelible mark on potential customers.

Proper proof of purchase practices are critical in retail today. We witness this firsthand through our support channels for retailers who contact us with questions and concerns about proof of purchase issues.

I am not a lawyer, and I would suggest asking the appropriate authorities if you have any queries.

The Significance of Proof of Purchase

• Customer Assurance: Providing tangible evidence of transactions enhances customer confidence.
• Legal Compliance: Adherence to proof of purchase regulations is a legal requirement.
• Conflict Resolution: Proper documentation significantly streamlines dispute management.

Australian regulations

Transactions $75 and above

Should be supplied immediately

Transactions under $75

Proof should be provided upon customer request made within seven days. This can be a problem if they pay in cash. 

Acceptable Forms of Proof

Some examples of proof of purchase:

• Cash register receipts
• Handwritten receipts: I recently had a client whose customer demanded extra detail. He felt that the cash receipt did not have enough detail to show the tax implications of the transaction explicitly, so my client rewrote it in an invoice book and stapled the cash receipt to it.
• GST tax invoices
• Financial statements (credit/debit card, bank)
• Lay-by agreements
• Digital receipts (email, SMS)
• Photographic evidence of receipts
• Warranty cards with purchase details:
• Serial numbers linked to supplier databases can be a problem. A client disputed that he had sold the item, while a supplier stated they had.
   

It's crucial to note that Australian Consumer Law doesn't explicitly define "sufficient proof of purchase. The requirement is that customers must reasonably demonstrate proof of purchase. 

Modern POS software can help you; one client showed a computer listing to a tribunal on the day the person claimed to have brought the item, but his shop had not sold this product. Another report that no sale for the claimed amount had occurred. We're moving towards a world where digital receipt proof of purchase will become the norm rather than the exception.

Essential Receipt Information

All proofs of purchase must include:

Managing Complex Scenarios

Late Requests and Itemized Bills

While charging for receipts after seven days is permissible, it's generally inadvisable due to potential negative customer impact.

For itemised bill requests:

These tend to be customers with specialised needs, and often, the retailer needs to go manual. In this case, I suggest keeping a record of that receipt. In a dispute, and the customer demands an itemised bill, you should immediately inform them that you reserve the right to charge them for the difference if it exceeds the original amount.

Dispute Resolution

In cases of disputed purchases without clear proof, it's essential to:

1. Thoroughly investigate your POS System transaction records to check the transaction
2. Consider alternative forms of evidence
3. Inform customers about potential additional costs in itemised bills
4. Balance customer rights with fraud prevention measures
   

   Handling Difficult Situations

   Several times, people have come into shops with what they claimed were faded receipts—essentially blank pieces of paper. In such cases, it's crucial to ask for alternative evidence. Remember, if a customer can reasonably demonstrate they purchased an item, denying their rights could be breaking the law.

Effective Record Management

The ACCC mandates a 5-year record retention period. To manage this effectively:

1. Implement a reliable POS system
2. Regularly back up data
3. Archive old records before deletion
4. Keep the backups; you never know when you need them.

Best Practices

1. Staff Training: Ensure a comprehensive understanding of policies and procedures.
2. Digital Transition: Utilise electronic receipts for improved storage and retrieval.
3. Customer-Centric Policies: Prioritise customer satisfaction within legal boundaries.
4. Clear Guidelines: If in doubt, seek advice from people who can help; most employee organisations can help here.

Conclusion

Adequate retail compliance practices are fundamental to building customer trust and safeguarding business interests. While legal compliance is crucial, the ultimate goal is to foster positive customer relationships while protecting the business.

If you want to know more, click here.

Here is how you can calculate your stock shrinkage in just a few minutes. You do have the information now.

The Importance of Calculating Stock Shrinkage

Regular stock shrinkage calculations are essential for the following:

1. Identifying inventory loss trends
2. Implementing effective inventory control techniques
3. Optimising your retail operations
4. Improving your overall profit margins

How to Calculate Stock Shrinkage

Follow these steps.

Using the figures for the 2023/24 year:

1. Determine your recorded inventory value: According to your records, this is the total value of stock. Your accountant should know this now.

2. Conduct a physical inventory count: You should know this from your stocktake.

3. Calculate the shrinkage rate:

   The Shrinkage Rate formula = (Recorded Inventory Value - Actual Inventory Value) / Recorded Inventory Value x 100

    

For example, if your recorded inventory value is $100,000 and your actual inventory value is $97,000, you have lost $3,000 of stock.

However, as stock shrinkage is commonly expressed in percentages, let's calculate this figure.

Shrinkage Rate = ($100,000 - $97,000) / $100,000 x 100 = 3%

Common Causes of Inventory Shrinkage

Understanding the reasons behind shrinkage is crucial for implementing effective inventory loss prevention strategies. These are the common reasons:

1. Shoplifting
2. Employee theft
3. Administrative errors
4. Supplier fraud
5. Damage or spoilage

   When I did it for a client, I used departments, and we came up with this chart, which looks about right.

   

The Role of Technology in Small Business Inventory Tracking

Investing in the right technology can significantly improve your inventory management:

1. POS systems: Offer real-time inventory tracking and sales data.
2. Camera: This is one of the few items that courts do accept.
3. Security system: You do not need everything, just a sample, to significantly affect shoplifting.

Conclusion

Mastering stock shrinkage calculation and implementing effective inventory reduction strategies are crucial for optimising retail profit. By utilizing the right tools, such as a robust POS system for businesses and implementing vital inventory control techniques, you can minimize losses and maximize profitability in your brick-and-mortar store.

My Eye-Opening Experience

Do not be made a sucker by an electricity comparison provider? As a business owner in Australia, I recently had an encounter that left me questioning their claims.

About a year ago, I blogged about the pitfalls of using the government electric comparison websites here. In summary, the figures on the government website I would get from my existing provider were wrong for me. It made me wonder if the other figures quoted from different providers were terrible, too. 

My recent experience with a commercial energy comparison provider is here. It all started with an email stating that the plan they set up for me was running out and it was time to renew. The problem here was my existing plan had a few months to go and that they never set it up. But as they did promise to slash my shop's electricity bills, I decided to find out what they had to say. So I rang up and got a cheerful voice claiming to be an "electricity expert". She offered to find me the cheapest plan for my business, promising savings. Admittedly, the quoted amount seemed too good to be accurate, but I would be happy if something could be done with our electric bills.

The conversation went something like this:

1. They asked for some basic details about my shop's energy usage.
2. They wanted a recent electric bill.
3. The call ended with her excitedly promising "thousands of dollars" in annual savings by quoting one much cheaper item.

I signed a form allowing them to look and later sent a bill 

She then called back with an offer. The offer, however, seemed too good to be true. Trusting my instincts, I requested the information in writing to allow me to digest it. Here's what unfolded:

1. An email arrived, but it lacked the comprehensive details I expected.
2. Upon closer inspection, I made a startling discovery: the new plan was actually more expensive than my current one—20% more.
3. I reached out for clarification by email, only to be met with silence. They never responded.

Retail electricity costs

Here are some facts about electricity costs for small retailers in Australia:

Electricity prices are up, with government taxation playing a significant role.

On average, small businesses in Australia pay between $700 and $1,400 a month for electricity. No matter what they say, you are not going to get a vast reduction.
 

Energy bill reduction for shops

Here are some tips for energy efficiency

1. Upgrade to energy-efficient lighting: LED bulbs can significantly reduce your energy consumption.
2. Optimise your heating and cooling: Proper insulation and smart thermostats can make a big difference.
3. Invest in energy-efficient appliances: Look for appliances with high energy star ratings.
4. Implement a switch-off policy: This one is inexcusable. Ensure your equipment is turned off outside of business hours. 
5. Use natural light: Where possible, use natural light to reduce reliance on artificial lighting. I opened the blinds at work; we work in the daytime and have plenty of sun. 

Lessons Learned: A Retailer's Guide to Energy Savings

This experience taught me valuable lessons that I believe every business owner should know:

1. Do your homework: You have got to use some intelligence
2. Look at the big picture: Don't be swayed by one attractive rate. Always consider the total cost.
3. Plan B: Check what happens if it does not work out and you want out
4. Leverage your relationship: If you're satisfied with your current provider, before doing anything by explaining the situation. I have an offer for .....

Red Flags to Watch Out For

Based on my experience, here are some warning signs that an energy offer might not be as good as it seems:

1. Pressure to sign up immediately
2. Reluctance to provide details in writing
3. Promises of unrealistic savings

Wrapping Up

Be careful. Also, remember the cheapest plan is not always the best. Customer service and provider reliability are crucial for keeping your business running smoothly. 

Remember Personal Letters? Yeah, Me Neither.

Think about the last time you received a personal letter in the mail. Can't remember? You're not alone! These days, nearly all our written communication happens through email. It's fast, free, and goes anywhere in the world. We all use email today.

Why Email Matters for Small Businesses

• It's always on: Customers can check their emails whenever it suits them, unlike phone calls or face-to-face meetings.
• Leaves a trail: You have a handy written record of all conversations. No more, "he said, and she said," arguments!

The Trouble with Getting to Customer with Email

Here's the thing: getting those customer email addresses correct is surprisingly tricky. Did you know...

• Oops, typos! Studies reckon around 20% of emails given out are wrong.
• Old news: About 22% of email addresses stop working yearly due to people changing email addresses, changing jobs, leaving studies or switching email providers.
• Shield against spam: A surprising number of folks use temporary or "spam" email addresses. I'll admit, I did this myself recently when getting solar panel quotes! I just wanted a price, not the start of communications.
• People are not reading their emails and spam filters: Some people rarely read their emails, sometimes they have spam filters that knock out their emails, sometimes they accidentally delete it thinking it's spam, etc. Just because you have a valid email does not mean it is coming through.

So, What Does That Mean for Your Business?

Studies show that around half the email addresses in most business databases are not good. Bummer, right?

Getting It Right - Steps to a Cleaner Email List

Don't worry, there are things you can do:

• Double-check at the counter: Our POS software helps catch obvious errors and has a very good email-checking routine. What makes it so good is that it will pick up the errors when the customer is right in front of you.
• Email checkers: There are some websites like this one [https://verifalia.com/validate-email] which are great for catching potentially dodgy addresses. What I like about this one is that it gives you a danger warning on the email address too. If you know of a better service, please let me know!

• The gentle nudge: If an email goes unanswered, follow up with a friendly email   "Just checking you got my email about [topic]. If so, could you give me a quick reply?"

Why Valid Emails are Business Gold

Here's why spending a bit of time on this is worth it:

• Talk directly to customers: Send news, offers, and the lot!
• Save money: Sending emails is cheaper than postage
• Supercharge customer service: Answer questions and sort out order issues quickly.

In Conclusion

Having a clean list of active customer emails is like having a direct line to the people who keep your business ticking. If you're a small retailer, investing a little time and effort in this will pay off big time!

Improve your Email Deliverability

Neurodivergent individuals find lots of noise, crowds, and visual stimulation overwhelming. It causes them anxiety. It is commonly associated with Autism, ADHD, Dyslexia, Tourette syndrome etc. Although estimates are difficult to get, a reasonable estimate would be somewhere between 5-10% of Australians, about two million Australians, are affected. This is not a small number.

Now, what is happening is that such people find a noisy shop with crowded spaces difficult for them to manage, so several retailers are experimenting with trying to create a "Quiet hour" where they turn their stop into a quieter, calmer place. Preliminary results seem pretty promising.

What Is a Quiet Hour?

A quiet hour is a designated time when you take steps to reduce noise and visual stimulation and reduce crowding in your retail space. This might include:

Turning Down Music and Announcements

Eliminating background music during the quiet hour to decrease auditory stimulation. 

Dimming Lights

Bright overhead lighting can be harsh for such people so that dimming can help.

Limiting activities

People stocked shelves or merchandise being moved around the store is minimal.

Customers are not frequent, and we can expect a quiet time.

When to Hold a Quiet Hour

Currently, retailers are designating Tuesday 10:30 am to 11:30 am for the Quiet hour. If that time does not suit you, for example, if it's too busy, you could look for slower store traffic times. Analyze your shop's traffic patterns using historical data. Identify a consistent time when you can expect lower customer volumes. Easy to do, there is a traffic analysis report by the hour in your POS Software, which you will find marked with a green arrow below.

Put in dates for the last two months, and you will get a colour-coded analysis that shows the activity in the shop divided into four groups.

You are looking for the ones without colour, the slow times. I would suggest if Tuesday does not work, then look at Thursday. 

It is important that you make a consistent weekly schedule, making it possible for such people to plan their shopping.

Promoting Your Quiet Hour

Inform customers by posting signs denoting the quiet hour time.

Get the word out to customers about your new Quiet Hour program through social media, a website if you have it and local groups in your area.

With some preparation, you can transform your retail space into a calmer environment for neurodivergent customers during quiet hours. It's a slight adjustment that can significantly impact serving your local community.

They say a picture is worth a thousand words. In today's business world, with smartphones, it is easy to take photos that can be shared and so communicate better than words alone.

Here are some of the key ways I leverage my smartphone camera in business for visual communication:

Examples of communicating visually today

• Often we attach photos to emails when describing an issue or product to provide visual context.
• Use the camera to quickly photograph signed contracts or other documents to send digitally.
• Showing the product we are selling.
• A visual catalogue for our e-commerce site
• Pictures of the shop to showcase our business for social media
• Photograph equipment, buildings, products, etc., to report issues that need addressing.

Tips for Taking Good Business Photos with Your Smartphone

• Activate gridlines in your camera app to help frame and level your shots.
• Take multiple photos and move around to get different angles and perspectives. You can delete the bad ones later!
• Shine lighting on it before photographing products or other objects.
• Turn off the flash to avoid overexposure and glare - use natural lighting when possible.
• Don't strive for perfection - smartphone photos don't need to be works of art to serve your business needs!

While smartphone cameras have limitations, they can produce more than good enough visuals for everyday business needs. Following a few basic best practices goes a long way.

Don't let the quest for perfect photos stop you from visually communicating to improve your operations and marketing. It is said that “Your first 10,000 photographs are your worst.” Henri Cartier-Bresson

This is a problem that crops up a lot in business; for example, a newsagent sets up a house syndicate and a shop decides to enter a new product line selling vitamin pills in the shop, etc. Well, what are they going to call it? It needs a name as a name adds to the offering. 

Naming a new business or product line - it's one of those things that always crops up when you're in business! You've got an idea; now you need to come up with the perfect name to match. 

It may seem simple, but finding a name that really captures your idea can be tricky. I've been there myself many times! I read an interesting article on Facebook by a professional who, for a living, advises people on what to name their business ventures. He charges thousands of dollars for doing it, but he sparked many people's interest in the subject.

Here, I'll walk through the key steps for brainstorming and evaluating potential names for your brilliant new business venture. With the right name secured, you'll be that much closer to promoting your brand to future customers!

Brainstorm Possible Names

I think it best to write down any words or phrases related to:

• Your products or services
• Your brand identity or values
• Your location or community

Look at competitors or businesses you admire for inspiration. Use name generators or dictionaries to spark additional keyword ideas.

Look at some ideas for a business name from overseas. I find a search on a similar country to Australia, like Canada, useful. Now, if it works for these Canadians, why not for you in Australia? Now, several websites can help you. My current favourite is here. I have used it for years. But there are many more such sites, so pick the one you like. Now, put these ideas into the search box individually, flick through the options and their proposed names, and write down the ones you want. I am sure there are many good ideas here. 

Check Availability

If it is a one-off, which is not going to be used much except for inhouse, you may not need to worry much about checking, but if it is something that is going to get legal,  do not get too attached to a name yet; verify first:

• The website domain name is available to buy
• Suitable social media handles are available on sites like Facebook, Instagram and Twitter
• Trademark searches on IP Australia don't reveal conflicts

For a website, try to link it to your actual name if possible. Your new website should feed the shop, and your shop should feed the new website. Why reinvent the wheel so use the resources you have?

Now, talk it over with people, but trust your judgment, as you will have to live with the name. So, pick a name that communicates your business.

Check social issues

Shorten the proposed name.

See if you like it because it is the short name you and everyone else will use over time. For example, people rarely say my company's name, "POS Solutions" when talking about it, but say "POS". Make sure the shortened name looks good. If for example you called it Cheap Books, well people talking about it will say Cheap, its not a good image they are conveying.

Check foreign languages

This is to avoid embarrassing or offensive meanings in other cultures so check the proposed names and grammar in Google Translate to see if your name works well in their languages:

• Check the languages spoken by your customers
• Also the most commonly spoken languages in your area. 
• I would also check Italian, Greek, Chinese, Hebrew and Arabic in Australia. For this, as the spelling is difficult use the search by voice. 

You do not want someone telling you the cafe name means "*gh^%@!" in their language every few days. I had a client who discovered that his business name, based on the street he was on, translated into English, meant something like a castrated pig store, which is, to Eastern Europeans, a particularly nasty word. The guy who named the street, I am sure, had a terrific laugh when the council adopted it. So I strongly suggest you check your proposed name in several languages. 

Check grammar

I get this a lot as my wife is French and tells me this shop's name is bad French grammar but I have also seen shops name that are in bad English grammar. Your shop looks instantly unprofessional.

It is worth the time, as a good business name can go a long way to making your business and/or website.

Note: Sometimes, you get only a limited choice. This site was handy.

As a business owner, you likely want to participate in online conversations. However, you often want to protect your privacy and anonymity. The problem is that many sites expect you to provide your profile photo. Then, with modern search methods, it will only take a few seconds for someone to find you using search engines' face detection once they have your profile image.

So, what many people do today is use a synthetic profile picture. This face allows them to participate online anonymously with a plausible face that often has features similar to theirs while keeping their real identity private. Today, these faces look convincing but don't belong to any actual person. I used it to join an online Zoom conference where I knew an old girlfriend might come, and I did not want to take a chance that she would talk to me. 

How to get one

There are many such services. The one I recommend is here.

I put my face in there, and out come many that look like what I want. Then, I pick one to use.

Conclusion

An AI-generated face lets you seamlessly blend into online communities related to your business without sacrificing your privacy. Be present online while staying anonymous.

Ring in the New Year with Inspiring Receipt Quotes

Adding an uplifting New Year's quote or message to your retail receipts is a creative way to spread cheer and goodwill this holiday season. Implementing this quick marketing tactic can help reinforce your brand image as one that cares about connecting with customers meaningfully.

Why Add a New Year’s Quote or Message?

• Spreads festive cheer and positive vibes during the holiday season

• Shows customers you appreciate their business and wish them well

• Sparks conversation about hopes and dreams for the new year

• Differentiates you from competitors

• Strengthens your reputation as a thoughtful, caring brand

How to Choose a Quote or Message

When selecting a New Year’s quote or message for your receipts:

• Do not worry about the length unless it is too long.

• Quotes that are hopeful, inspiring and forward-thinking work well.

• Avoid anything controversial or divisive

• Consider tying it back to your brand values or industry

Great options include:

• Famous New Year's quotes by people

• Upbeat messages about new beginnings and fresh starts

• New Year's resolutions that relate to your products or services e.g. lotteries

• Quotes about gratitude, optimism, or customer appreciation

Where to Display the Quote or Message

The receipt is the most direct place to put your New Year’s quote or message. But you can also display it:

• On your storefront window or door

• On your website or social media pages

• On signage in your retail space

• In email newsletters or print ads

Examples of a New Year’s Quote to Consider

"Cheers to a new year and another chance for us to get it right." - Oprah Winfrey

"The magic in new beginnings is truly the most powerful of them all.” ―Josiyah Martin

"New year—a new chapter, new verse, or just the same old story? Ultimately we write it. The choice is ours.” —Alex Morritt

I remember a time when a store slapped a Gandhi quote on my receipt. It sparked a discussion on the movie which a few in the queue participated. Nowadays, what about dropping some Oppenheimer or Barbie wisdom?

Need some inspiration? Check this site for quotes you can use. 

Spread Positivity in the New Year

Add a message to your receipts for this New Year to spark customer joy and appreciation. This simple marketing tactic can help set the right tone as consumers embark on a new year.

I spoke briefly a few days ago of shrinkflation, the practice of suppliers today of hiding increases in retail prices by secretly reducing what you get. It generated some discussion, so I decided today to show examples of how it is done so you know the problem when your customers ask you about it.

What is shrinkflation, and how does it affect retailers?

Shrinkflation refers to the deceptive practice of companies secretly reducing the amount of a product while keeping the same price or even raising it. This allows suppliers to increase profits without customers realizing it's a price hike.

As a small retailer, shrinkflation can impact you and your customers in a few key ways:

Reduced trust. When customers notice items they regularly purchase have gotten smaller or contain less quantity, it erodes trust in brands. This could cause them to be hesitant to buy from your store in the future.

Higher costs. If your suppliers engage in shrinkflation, you pay the same or more for products containing less. This cuts into your margins without you even knowing.

Difficulty managing inventory. It's harder to accurately track inventory levels and order appropriate quantities when changing product sizes without notice. This can lead to stock-outs.

Disgruntled customers. People notice when their money isn't going as far at the grocery store or other retailers. Shrinkflation leads to complaints you have to field from customers who feel they are getting a raw deal.

It messes up your pricing. If you are not careful, your pricing can be wrong. I have seen examples of retailers reducing the price of the old product, which has more in it, as they think the new product is better. It is not it is just secretly smaller.

Some examples of shrinkflation

The older bottle had ten more pills, about a 9% price increase. What is interesting here is that the new bottle with less in it is a bigger bottle.

The new bottle has about 5% less product, and the packaging has been redesigned, too, as in the above example.

This one is quite tricky, see it you can pick it up.

The tube size of the older one is smaller than the hole of the newer one. It probably will look the same size, but there is less paper.

This is just a price rise by reducing the product supplied.

This one is actually a significant price rise of 25%.

My last example shows, over time, just how significant these secret changes can be 

Measured up, this is about an 80% price increase.

Conclusion

To protect your business and customers from the impacts of shrinkflation, you need to carefully monitor unit sizes and quantities of the products you re-order.

You can find many more examples if you want to investigate further here, were people are encouraged to report such practices.

Promotions are often used today to retain top staff. However, new research indicates that promotions may increase employee turnover, at least in the short term. Something that I think many of you will find interesting and give you something to think about. Check it out here.

The fact is that promoted Employees More Likely to Quit

According to a recent study, employees who are promoted are 29% more likely to quit their jobs in the first month after the promotion compared to if they had not been promoted (18% quit rate). The increase in turnover is even higher for low-skilled workers after being promoted.

Why Promotions Lead to More Turnover

There are a few key reasons why promotions can increase turnover:

Increased Visibility

• A promotion comes with a new job title and responsibilities, which makes workers more visible and attractive to other potential employers. A card manager in a shop is more desirable to another retailer.

Transition Difficulties

• Moving into a management role requires a different skill set than individual work. This transition can be challenging and, if expectations aren't met, can cause frustration and prompt employees to look elsewhere.

Newness Wears Off

• At first, a promotion is exciting. But as the novelty wears off, some workers realize the new role isn't the right fit. This disappointment can motivate them to quit.

Long-Term Benefits of Promotions

However, promotions aren't all bad in terms of retention. After an initial spike, turnover rates for promoted employees decrease.

• Once settled into their new roles, promoted workers become more committed to the organization long-term.

• You can reap the benefits of upskilling and promoting top talent with proper support during transitions.

Key Takeaways

• Promotions lead to increased turnover in the short-term as workers may be given the job and only later when they settle in the title. 
• Transition support is crucial to curb turnover and boost long-term commitment.
• You should weigh potential retention risks before promoting.

Conclusion

While promotions have traditionally been seen as a reward and retention strategy, companies need to be aware of potential unintended turnover consequences. With preparation for transitions and honest conversations about expectations, organisations can still leverage promotions to engage employees and develop skills.

Here is some of the terminology used in POS Systems today.

Point of Sale

For merchants, efficiently managing transactions is pivotal. The point of sale (POS), is generally the front counter but not always and is generally a store's most influential real estate. It's here that customer interactions and sales are done.

What is a POS System?

Behind every POS lies an integrated system that keeps sales running smoothly. Comprised of hardware and software components, it digitally transforms the transactional experience. This is what we do! 

POS Hardware

Devices like computers, barcode scanners and printers facilitate front-facing jobs. Reliable, user-friendly technology is critical.

POS Software

In retail, this is divided into two categories:

Front Counter The front-end program powering devices at the POS itself. This does the sales processing.

Back Office Running remotely, back-office software compiles invaluable analytics and reports. Inventory levels and staff scheduling tools likewise enhance operations examples might be:

1) Detailed Sales Reporting Dissecting data reveals top products, periods and more to maximise profits.

2) Inventory Management\ Automated stock tracking prevents stockouts while streamlining replenishment.

3) Loyalty programs Transaction histories fuel loyalty schemes and targeted promotions.

Hope this is of help.

Here is a marketing tip some of you will find helpful.

I searched here for party supplies vs Mother's Day in Australia on Google Trends for the past five years. If you look at the Google Trends graph, demand for party supplies over the past five years is constant throughout the year. This makes sense as people celebrate birthdays, holidays, anniversaries, and other events that require party supplies year-round. The demand does not significantly fluctuate seasonally.

Now look at the quantity. It dwarfs an important marketing season like Mother's Day. It is about six times as much.

Here is a report by IMARC Group, the global party supplies market size reached US$ 13.2 Billion in 2022 and is expected to reach US$ 21.1 Billion by 2028, exhibiting a growth rate (CAGR) of 7.6% during 2023-2028.

This is good growth, and it is interesting that this report states that Australians will cut down spending soon, but not for their kids and probably not for this in general.

Why not handle this to increase party supplies sales in your shop?

Here are nine reasons to consider bringing more of such festive goods into your product mix:

1. Constant demand

As a retail store owner, you can capitalise on the constant demand for party supplies. Since it is consistent, it is much easier to service. Unlike many marketing holidays, these items do not rapidly lose value if you do not sell them immediately. You could sell a banner for a five-year-old birthday all year round.

2. High-Profit Margins

Products like balloons, streamers and paper banners have high markups. These high margins make party supplies a profitable department for shop owners to carry.

Simply put, party supplies offer significant profit potential.

3. Impulse Purchases

Impulse buying is a crucial driver of extra-party retail sales. When customers come in to pick up birthday cards or other such items, they will get inspired by these products in your store. This leads to unplanned purchases - grabbing armfuls of decorations, plates and party favours to build out the entire celebration.

4. Last-Minute Needs

Party supply buyers often purchase items right before an event occurs. Having an assortment of supplies readily in-store meets this demand for last-minute purchases - something online shops cannot do.

5. See and touch products

Customers like to see and touch such party products before buying. They want to assess party supplies up close. Often they need to feel the size and measure of a plastic tablecloth, see the metallic sheen on a banner, and see the difference in the balloons.

6. Diversify Offerings

Bringing in party supplies allows you to diversify your overall product mix. People who do not come will be attracted, expanding your customer reach. Party supply customers may discover your other offerings too.

7. Flexible Placement

Party supplies require minimal space and storage. You can creatively tuck select party items into previously dead areas of your shop.

Take advantage of these underutilised areas.

8. Upselling Opportunities

For party supplies, people like bundles. The cost of these items is rarely that high, so people tend to over-buy.

9. New Customer Growth

If your party supplies work for regular celebrations, you will find many niche party supplies that ethnic groups, e.g. Indian, Chinese, etc, need.

If your shop gets to be considered a destination for such goods, there is room to grow.

10. Your software does it now

Bonus point. 

Your POS Software is working now in shops that sell such items so you have the technology now free. 

Conclusion

The party supplies market provides compelling reasons for retailers to do more here. Demand is constant, margins are high, and impulse purchases are standard. Shoppers also like seeing and touching party supplies in-store, making them much more attractive than online stores.

We suggest this for those considering the security of their confidential information.

Run a computer that is completely isolated from your network. This prevents anyone on your work network from being able to access your computer. This approach is commonly used today for managing sensitive documents. Examples would be accounting, salary information and online banking. Large organisations use this approach because it's impossible to be sure what anyone on the network has access to.

I use this isolated approach at home to protect other computers from viruses my kids inadvertently get. This makes it almost impossible for a virus to spread to other home computers as they are not connected to the same network.

A laptop is a good option for an isolated computer. In the morning, you connect it to the internet at work and use it for private or sensitive work. At the end of the day, unplug the computer and take it home.

If you need to transfer information between your Point of Sale (POS) system and your isolated computer, I recommend you use a USB stick rather than the network. This will reduce your sensitive data risk.

While using an isolated computer can help mitigate online threats and safeguard your identity and data, remember that no security measure is foolproof.

It's crucial to remain vigilant and cautious when using any computer online because no security measure can guarantee 100%.

April is always a problem for retailers as it has a few holidays that confuse the public on whether you are open. So Australian retailers must communicate their operating hours on those days to their customers.

The first one is Good Friday, April 7th, 2023. Tell people with in-store signage now if your business is open on Good Friday. This will help ensure that they don't go elsewhere.

Easter Monday, April 10th, 2023, is another one.

Finally, there is ANZAC Day on April 25th, 2023. If you are open on that day, consider putting a picture prominently in your shop of one of your ancestors in military uniform. It will make a talking point.

Also, consider promoting some goods for these holidays; the lead-in to Easter is generally a good shopping day.

Consider how it hurts if you lose business when you are open and the customer goes elsewhere because they thought you were closed.

How to Increase Your Small Shop's Sales

As a retailer, you always look for new ways to stay ahead of the competition and increase your sales. The Movers and Shakers and Best Seller pages on Amazon can help achieve this goal. It can show you what is selling now based on Amazon information.

Understanding the Differences Between the Movers and Shakers and Best Seller Pages

Despite their similarities, the Movers and Shakers page and the Best Seller page are two different Amazon rankings.

The Best Seller page shows the products sold the most in the last month.

Here I can see the toys that are taking off now.

This shows you what sold the best in each category over the last month. It can help you spot medium-term market trends as you can see which products consistently perform well.

The Movers and Shakers page displays what increased over the previous 24 hours.

This page is a valuable tool for locating products whose popularity is rising. You can stay ahead of the curve and spot emerging industry trends if you pay close attention to this page. It is extremely good for the holiday season when products rapidly increase in sales.

If the same product is on both pages, this shows what is really hot now!

You can then click on the product to get information about the product. What I do suggest is that you look at the reviews too. It is an excellent way of finding out hidden bombs in the product. If the reviews are overwhelmingly negative, I would not recommend you handle it, no matter how popular it is. Once word gets around how bad it is, you will look bad if you sell it. You will also pick up information from the reviews that you can use to help advise people that come into your shop.

Use both pages to improve your inventory. It can also show you its pricing strategy. This information can help you make better decisions about your merchandise and pricing if you know these differences. I suggest regularly watching these pages as you can make better decisions about which products to sell and how much to charge for them.

Conclusion

Unless you are a large retailer, you need something like this to tell you what is selling now. A sales representative can be helpful, but they are looking at their employer's interest rather than yours.

Regularly monitoring these pages allows you to stay ahead of the competition and spot emerging industry trends.