You probably always have your favorite hammer, your trusty jigsaw and your adjustable wrench all within arm’s reach, but don’t forget some other critical tools to help your business blow the competition out of the water. Check out this list of must-have tools to keep in your proverbial tool belt so you’re prepared to triumph over any foe.
1. Retailer Peers
You can learn a lot from a conversation between friends, especially if they share your experiences and offer relevant advice. Stay in touch with retailers to find new ways to position your business for success.
Your customers can tell you exactly what they want from you. Take time to find out what projects they’re taking on next, what creaks and groans their homes make and let them know how your business can come to the rescue.
3. Non-Industry Friends
Sometimes an honest evaluation comes from someone on the periphery. Ask your friends outside the industry to walk your store and honestly tell you how you can improve the customer experience.
It’s hard to stay on top of trends and keep track of headlines when you’re a business operator. Luckily, Hardware Retailing combines everything into one digestible weekly newsletter. Click here to subscribe.
5. Your Wholesaler
If you want to bring new products into the warehouse or you need some merchandising ideas, call up your sales representative. Their job is to make yours easier, so rely on them when you need insight.
Everybody needs a vacation or at least an hour of “me time.” Subscribe to two of your favorite industry podcasts here to gain insight from home improvement industry leaders while you take a load off.
7. Industry Events
There are dozens of opportunities to explore the industry. Attend a conference or a trade show, such as the NRHA All-Industry Conference, co-located at the National Hardware Show in Las Vegas, May 5-7, 2020.
8. Business Advisers
If you haven’t talked to your attorney or your financial adviser about your succession plan, today is the day. Call up the people who can help you make smart decisions to keep your operation growing well into the future.
Invite the people who make the tools into your store for a demo day to bring in professional customers and curious homeowners. Offering hands-on experiences with the latest tools will help you sell a few extra fully loaded tool belts.
10. Your Association
Your association can help make many of these things come together for you. Click here to learn more about how the North American Retail Hardware Association can help your business become better and more profitable.