Preparing your small business for the silly season!
The months leading up the Dec/Jan are critical in ensuring that your business is prepared for the change in consumer behaviour that is associated with the silly season. Following these simple yet effective tips will ensure that your business is set to succeed towards the end of the year, and will carry forward this success in the future.
- Plan – Many businesses make the mistake of not planning for future periods and this is a big mistake, especially in regard to the holiday period. Not only do you gauge what the next few months hold by planning ahead but you can also adjust your business practices to suit the forecasted periods. This is extremely critical when approaching the holiday season. Previous year’s data should be analysed and consumer interest gauged with plans made in accordance to these forecasts. Remember to ensure inventory levels are high enough to deal with the increased demand associated with the festive season.
- Be up to date – Many businesses make the mistake of taking time off during the holiday period without properly considering bills payable, jobs due or even a re-commencement plan for when the business re-opens. Plans should also include all future payable bills and jobs due, so that no nasty surprises are thought of whilst business owner are enjoying their time off. A plan to implement once work commences again when the holiday period is over is also important. That way, the everyday tasks of the business can begin immediately without delay, ensuring your business doesn’t lag behind others at the turn of the year.
- Online Presence – It is important for businesses (especially retail) to ensure that their online presence is consolidated well before the festive season. This includes making sure there are no discrepancies in their website, mobile website or social media pages. Any problems with these should be fixed as soon as possible before it becomes too big of a problem! Additional advertising could also be considered.
- Staff – Finally, it is important that business owners appreciate their staff in the lead up to the festive season. It can be a stressful time for many however it is important to remember that the back bone of any excellent business is good staff; thus it is important that they have a sense of importance associated with their job. Giving them this reassurance will enable them to take away positive attitudes towards work and bring them back if they take time off or to maintain them throughout the festive season. This will enable the business to continue its duties as efficiently as possible. Additionally, if it is expected that business is going to become increasingly busier over the next few months it could be worthwhile looking into hiring some temporary casual/part time staff. It’s better to do this earlier rather than later as once things start becoming busy they will already be proficient in their duties.
- Yourself – Finally, the end of the year is an important time for personal reflection. Overseeing a business can be a very stressful operation. This can build up and create unnecessary stress if you don’t take the time to sit down and reflect on what went right and what went wrong over the course of the business year.
If any of these goals seem impossible due to monetary problems then come and see us in Osbourne Park! We can provide you with financial services that will have you dashing through the festive season and into the New Year with ease!