08 Mar 2008 12:27:47 | Catherine Franz
Every business experiences slower periods. For some, they sell
more during the Christmas season while others move at a snail
pace. Some sell more during the summer and others less. The key
is being aware of your seasons and alternatives available to
solve the challenge and change the results.
All businesses need down time, breathing room to re-evaluate
where we’re going, and where we’ve been. What’s working and
what’s not? What changes need to occur and where we want to go
in the future?
Have you planned your breathing room time into your calendar
year?
As a coach and independent professional, I know by personal
experience and through the feedback of my clients, that during
the slow times, stress, fears, and challenges on how to pay the
bills increases. Sometimes, stress increases without any money
factors because we’re not used to having additional time on our
hands, so our brain manifests things to fill the void. So, what
are the alternatives? Good question. Let’s explore the
possibilities...
You can use the "save for a rainy day" philosophy by moving a
certain percentage from a regular account to a money market or
savings account for those rainy time periods.
You can plan out, on a paper calendar your seasonal periods.
Look at your Income Statement for the past few years and you
will see a pattern appearing. If that history isn’t available,
ask others in your field area. As a coach, I’m in the personal
development field. I would contact others in this field, like
speakers, trainers, who have experience and history and
interview them on the question.
After you review your historical financial information, keep in
mind that future economic conditions will influence your
seasonal plans. This requires a strategy on who and what you are
going to use for economic indicator flags. This may require a
financial planner, economist, or other professional on your
support team. Reading the paper or watching the news is all well
and good, however, it can also add to confusion. Too many cooks
in the kitchen syndrome. Choose one or two cooks and ask the
others to leave the kitchen.
Remember, there are different seasons all over the world. When
its summer in the United States, there is a different season in
Australia and Japan. If your marketing vicinity is global, you
need to plan your seasons very carefully. Each requires
different marketing strategies and procedures. When marketing in
the U.S. reduces, marketing in other countries will most likely
increase. Especially if you are in the bathing suit business.
If your business is strictly local, you can create additional
products or services that will only be available during that
season. This can maintain momentum. You can use the "limited
availability" technique for these products.
You can use this time for vacation, organize, plan, create new
products, and use your rainy day funds for support.
As well as, establish new joint ventures, expand personnel, test
new product ideas, clean up backlogs in filing or emails, send
out thank you gifts, upgrade your computer, or learn new
software.
Keep in mind that leaving some of these to-dos might be
detrimental to your revenue generation thinking. Allowing a
build up of the items that support your success, as mentioned in
the above two paragraphs, can create a desire to create your own
self-fulfilling prophecy. You will intentionally create a slow
period when a natural occurrence wouldn’t regularly happen. An
indicator can be if sales don’t return after the slow cycle. Pay
particular attention if it occurs.
Choose to do some planning today on your seasons for the money
results you want tomorrow. Identify when and where your business
and industry seasons are, explore all possible solutions, and
work through a plan to fill the void. The results will almost be
a given.
About Author :
Catherine Franz provides writing and marketing assistance, to
individuals who want to write and businesses that want to
increase business. For more ideas and programs, visit The
Abundance Center at: http://www.abundancecenter.com.