In the two weeks leading up to the end of the financial year I saw more newsagents engage with their business data than for the other 50 weeks of the year. Through my newsagency software company I saw questions about stock management, stock-takes and the like all demonstrating an engagement as business owners scrambled to have accurate year-end data ready.
Sadly, for many immediately after June 30 they will leave data pretty much along for another 50 weeks.
I sad sadly as attention to data pays dividends.
- Good data fuels accurate reports and accurate reports guide better quality business decisions.
- Good data is essential to holding suppliers to account.
- Good data stops you spending unnecessarily on stock.
- Good data tells what you can’t see in your business.
I urge newsagents to be serious about data all year round. Stop being afraid of a bit of extra work caring for data. It may show you what you need to make your business worth a few more bucks.
Use your software company. Ask for their help. Seek out training. Set rules in your business and demand all who work with you to follow the rules.