The top 3 retail success secrets of HoHoHo

What! HoHoHo has a secret translation?

We can all picture Santa Claus leaning back with hands on his belly while saying “hohoho”! It is part of his joyful and laughter-rich image. 

Fun fact: “Hohoho” is an onomatopoeia, which is a word that sounds like what it means. It is a deep and happy sound.

In the 1970 Christmas cartoon movie, Santa Claus Is Coming To Town, we learn that Santa played with the animals as a child, and it was the seals that taught him this infectious sound.

Little did we know that Santa’s HoHoHo was really a secret message for indie retailers!

Each HO is actually short for HOLD, and here is what it really means:

HOld on to your Holidays 

Take a few minutes to review (or create) your Holiday Manifesto.

What do the holidays mean to you? What activities do you want to do? What do you want to give yourself more time for so that you are less stressed? 

Now is your opportunity to make sure you fit everything in. Write them in your schedule and make a plan right now to take the time off! Here is a little retail trick – write the most important activities in your schedule twice. We all know that team members get sick and emergencies come up – so the second time is for insurance reasons.

There is much you don’t have control over during this time of year. Make sure you take control of what you can!

HOld on to your Money 

The most common cash flow mistake retailers make is that they don’t consider the slower months of the first quarter. That’s why you should make sure that your cash flow projection is done through June.

So often all vendor bills are paid at once in December leaving no money in the bank for rent and other fixed expenses going forward. Talk to your vendors and stretch your payment out in smaller amounts into the next year.

When I suggest this to my clients, they always respond that this will never work, but it does! As long as you stay in communication with your vendors, you will find that they are willing to work with you.

If you have any concerns about your cash flow for the next year, ask for help. If you don’t ask, you’ll never know what opportunities might have been available to you.

HOld on to your Sanity

During this time of year, everything seems to be moving faster. There is more to do and less time to do it. Mistakes that your team makes can make you even crazier than usual! Use this to your advantage. After putting out the fire, be sure to keep a list in a safe place of procedures that you want to fix in the New Year

Don’t beat yourself up. Take a deep breath and let it go. When things go wrong this year, you will know precisely what you need to change in January to make your store run smoother.

With these three “HOlds” in mind, you are more ready for the holidays then you may have thought! 

Have a wonderful holiday season! Wishing you much success!

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