5 Reasons Why Entrepreneurs Need a Great Mobile POS System

I recently came across an article on Forbes.com by psychotherapist and author Amy Morin about “the hidden dark side to being an entrepreneur.” In it she states that the entrepreneurial lifestyle “can be a setup for a variety of serious mental health issues” due to being overworked, believing self worth is equated with net worth, creating anxiety associated with struggling with a variety of pressures, and harboring an obsession to succeed.

So do you have to be crazy to be an entrepreneur? (I’ll let you answer that question yourself.) While insanity may be one of the lesser heralded qualities, these idealistic and hardworking individuals harbor an unparalleled passion for their vision but need to balance optimism with tools based in reality. One of the most important assets for a company to have is a great retail mobile POS system. Here’s why:

1.      Product and Inventory Control – Too much inventory causes your money to be tied up while too little inventory means you could be missing out on sales and therefore profits. Knowing what you have, when you need to reorder and at what rates your items are selling helps to create a strong bottom line for your business.

2.      Mobility – No one wants to sit in the back office all day and with mobile POS software you can conduct business anywhere from your mobile device. From processing sales at craft fairs or conferences to accessing reports of the day’s revenue, you can run your business from anywhere at any time.

3.      Business in a Box – Starting a business is definitely overwhelming. You have contracts to sign, investors to meet with, marketing strategies to plan and a million more activities vying for your attention, which means you are overwhelmed before you even open your doors. Fortunately, the right mobile POS can be delivered to your door as the perfect point of sale bundle to suit your company’s needs. Tablet stands, receipt printers, barcode scanners or cash drawers are just a few of the items that can easily be set up for your cash wrap counter. (If you already have hardware in place, many mobile POS software apps will work with those, too!)

4.      Customer Loyalty – Running a business is twofold: not only do you have to have an incomparable product, but you also have to have stellar customer service. With a mobile POS, you can manage your customer loyalty program or track your top customers to customize (therefore optimizing) their shopping experience.

5.      Cost Effectiveness – Most entrepreneurs are on a tight budget, and all of the previously mentioned points also positively impact your financial plan. You can save money by having the correct amount of inventory in stock, improving customer interaction, using hardware you already have, and by improving customer return rates.

Entrepreneurs have a vision and purpose that stands out from the crowd. However, they need more than passion to succeed; they need the right tools. On Vend, you can find out more about incorporating a retail mobile POS system into your business. Running a startup can be a difficult feat, but that is exactly why Vend has created the best POS software on the market… we’re ready to help you succeed.  

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