New Year’s Resolutions for Africa’s Small Tuckshop Owners
As 2023 draws to a close, it’s time for Africa’s hardworking tuckshop owners to look back on the past year and start thinking about goals for their businesses in 2024. For many, this past year brought challenges – supply chain issues, rising costs, unpredictable customer demand, and now, worries about a potential economic downturn on the horizon.
However, there is still much room for growth, improvement, and even excitement as a small retail business owner in Africa. As your business coach, I want to provide some motivation and tangible resolutions you can make to start the new year off right.
Reflecting on 2023
Before setting resolutions for the future, it’s smart to look back at what went well in 2023. Did you attract any new regular customers? Did you finally purchase that equipment to make operations more efficient? Did you test out selling any new products that performed better than expected?
Make a quick list of your wins for this year. Giving yourself credit boosts motivation to keep pushing forward. Also, identify any lessons learned from failures or roadblocks you faced. Thinking through what you could do differently sets you up for better strategies in 2024.
Top New Year’s Resolutions
Now, let’s talk about five impactful New Year’s resolutions to transform your tuckshop in 2024.
- Upgrade technology and equipment
Is your shop lacking a point-of-sale system? Are you recording sales and inventory manually? Is your refrigerator inconsistent or failing? Prioritizing tech and equipment upgrades saves massive time, minimizes waste, and impresses customers. Even starting with small enhancements like mobile payment readers or automated receipt printers streamlines workflows.
- Expand inventory diversity
Think critically about new products, brands, or categories missing from your shop that customers ask about frequently. Survey shoppers directly about what they wish you carried. Source these in-demand goods in time for New Year’s promotions to delight existing customers and attract new ones entering your shop.
- Create a loyalty program
Nothing builds community like a rewards program for frequent shoppers. Even simple stamp cards where 10 purchases earns a discount fosters meaningful relationships, not just transactions. Make sure to capture contact info during signup to market directly to these VIPs about sales or new inventory via SMS.
- Construct a business plan
Running a tuckshop can feel like operating hamster wheel, dealing with day-to-day minutiae without assessing higher priorities. Make 2024 the year you step back and create a 3-5 year business plan. Outline growth KPIs, new locations, or categories to expand into to guide strategic decisions. Having a roadmap in place allows you to delegate, invest, and evaluate progress.
- Learn rising digital and social media marketing
While word-of-mouth may feel sufficient for marketing your shop, adding a digital presence raises credibility and shareability. Consider launching simple channels – perhaps a basic website, WhatsApp business profile, Facebook page, and Instagram account. Learn from online tutorials if needed. Promote specials, engage community members, and solidify your shop’s branding.
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By taking action on one or more of these 2024 New Year’s resolutions, you can supercharge your tuckshop for sustainable success. I provide individualized business coaching programs to tuckshop owners focused specifically on strategy, marketing, and optimizing operations. My flexible training solutions work within any budget. If you’re feeling stagnant and want an expert action plan tailored to your shop, let’s connect today! I wish you and your business a fulfilling and prosperous new year ahead.