As a service business we sometimes get a little slow around the holidays as everyone focuses on gifts and parties and in-laws. Now if you have a retail business the holiday season may be your busiest time of the year. So we have two very different holiday season strategies we recommend to our clients depending on whether they are a service or a product-oriented business.
Is Your Business SLOW During the Holidays?
Our recommendation is to just go with it. The holiday season can be a fabulous opportunity to meet new people, some of whom might be potential clients you could follow up with in the new year. Here’s a great strategy you can use to start ramping up for January and February.
Get invited to and attend as many holiday parties as you can. Go to craft fairs and other events that strike your fancy. Meet people. Talk to people. Get to know them. Start relationships. In other words – connect.
After you’ve met them, follow up. Maybe meet them for coffee or invite them for a meal. Maybe send them a note or a card. Even if you’re not much of a party person, anything is better than sitting at home fretting about how your cash-flow has dipped. The strategy we’re suggesting is that you have a great time while meeting as many new people as you possibly can during a time when there are a lot of gatherings where your future ideal clients may be hanging out. Just be friendly and meet some people. It’s a great way to make new friends too, and you can never have too many of those, right?
Another great idea for the times when your business is typically slow is to invest some of that down-time in working ON your business (rather than IN it). Not to sound self-serving, but this is also a good time to hire a business coach to help you create vision boards, explore ways to improve your business in “off-times,” and review past strategies to see if they need a re-vamp.
Even if money is tight, most business coaches will understand that and work with you on payments. In fact, the holidays are a great time to get a good deal on a coaching package. We make some of our best offers during the festive season. There are also some interesting financing options available through small business lenders like Kabbage, who offer a line of credit to be used however you want, instead of a traditional small business loan.
Is Your Business CRAZY During The Holidays?
If you’re in retail then you have the opposite problem. You are slammed – not only with running your business but also with your personal holiday preparations and celebrations, especially if you have a family.
The good news is that (hopefully) you are also earning excellent money which will carry you through any upcoming slow months if you’re good at budgeting. The trick is to pace yourself, stay sane and don’t overdo it. YOU are the most important person in your business and this is not a time when you can afford to flop over or get sick from exhaustion.
Slow months (typically Jan – March for retail) can be managed with smart strategies, and we would encourage you to set aside some cash to invest in getting some sound business advice from an experienced professional. It’s always refreshing to get an outside viewpoint on what is working for you and what’s not, and when business is slow is the perfect time to dig deep and come up with some brilliant ways to make your business work FOR you instead of against you.
We’ve seen the simplest strategy tweaks make a huge different in the life of a hard-working business owner, but sometimes it’s difficult to see the woods for the trees when all you seem to do is work all the time. If you do decide to take out a small loan to cover professional business coaching it’s always a worthwhile investment. The long-term knowledge you’ll gain from their expertise and ideas is priceless and can give you that competitive edge that will make the difference between “successful” and “so-so”. If you are in any doubt, consider this: the most successful people in the world have business advisors to help them.
We hope this has been helpful, and as always, you can reach out to us with any biz questions you may have.
Wishing you a wonderful and safe holiday season!
Hugs and blessings, Mandy & Wayne
About Mandy & Wayne
Mandy Wildman is known as The Slightly Psychic Business Coach and is a certified Infinite Possibilities coach, trained by Mike Dooley who appeared in the movie phenomenon, “The Secret”. Wayne Porter is a Law of Attraction Guru and Appreciation Marketing Specialist.
Mandy and Wayne are committed to showing people how to create a business they love around who they are, rather than trying to fit themselves into a business model that may not be right for them. With many years’ experience working with business owners from all walks of life Mandy and Wayne bring clarity, warmth and humor to their work. They live in the beautiful mountains of Western North Carolina with their three amazing kids.