The saying "time is money" exists for a reason. Time is a limited resource, and the more you optimize your time the more successful you become. This doesn't mean you have to jam-pack your days with as much as you possibly can until you're exhausted, but rather spend your time on the things that matter most. This applies to any industry, any business, and any individual, including those of you in the indie pet market.
So, what is the true value of wasted time, and how can you take your time back? This article will outline some of the ways in which an indie pet store might unknowingly waste time and explain why it really matters.
Negotiating and Organizing Deals
Negotiating and organizing deals with your distributors for frequent buyer programs and special offers isn't a waste of time on its own — in fact, it's an important part of running a successful business and keeping customers happy. Nevertheless, it can be time-consuming. Negotiating isn't a one-and-done process and it can take several interactions before coming to an arrangement that works.
Going through this negotiating and organizing procedure becomes a waste of time once a better option is available. For example, Astro retailer members have access to exclusive manufacturer incentives and programs automatically, giving you great deals and saving you time in the process.
The Hassle of Paper Cards
Another thing to consider is the inconvenience of handling paper cards. Just how many times do these cards pass between the hands of different people before a credit can be redeemed? This process is unnecessarily complicated — it takes up more time, requires more effort, and passing a card back and forth 15+ times isn’t as sanitary as people may like.
The amount of time this takes may seem inconsequential at first, but when spread out over the course of weeks or months, it can make a big difference. When paper cards are retired, it also saves time for the customer, as they don’t have to search for it every time they make a purchase.
Manual reporting is a major time sink. Do you know exactly how many hours per week you spend on manually reporting and handling your program rewards and redemptions? For active stores, this number can be upwards of 20-40 hours a month. So, in addition to being a nuisance, manual reporting can translate to days of wasted time!
Reporting to distributors and manufacturers is a priority and it can't be ignored, but doing it manually is inefficient and can be susceptible to human error, which will only lead to more wasted time and resources in the long run.
Waiting on Reimbursed Credits
Time is related to money in more ways than one — and in this case, it's a clear-cut connection. Waiting several weeks or months to get credits reimbursed from distributors means consistently lower cash flow. This can seriously complicate financial decisions and cause unnecessary headaches.
Waiting is the worst way to waste time. You're doing nothing, getting nothing for it, and there's nothing you can do about it.
Think About It
How much time do you and your employees sacrifice to all of these time-wasting tasks? If you truly consider the value of your time, you might find that the wasted hours, extra hassle, and chance for human error aren’t worth it.
When you take advantage of all that the Frequent Buyer program has to offer, you're able to take your time back. Investing in an Astro membership is worth it because you're actually investing in yourself. What could you be doing in the hours you spend organizing deals, collecting paper cards, and manually reporting? Is just $45 a month worth getting back all of your wasted time?