Preparing for the New Year – don’t let a dry January affect your business
What can you do now to get ready?
After a busy Christmas period, buying gifts and enjoying the social cheer, quite often consumers are tightening their purse strings in January. This can leave some small businesses out in the cold, struggling with the downturn in trading.
What could small businesses be doing now to prepare for January? Here are a few tips to point you in the right direction!
Make the most of the busy sales periods!
It may be quite obvious but still an important point! For those in retail and hospitality, push hard in the busy times up to Christmas and New Year and make the most of the sales potential. That extra income from Christmas and New Year trading could counteract that quieter January period.
Send Season’s greetings
Don’t forget your loyal customers! Sending Christmas good wishes goes a long way. It’s a great opportunity to get in touch with your loyal customers and thank them for their business this year. It’s also an excellent time to remind everyone of your Christmas and New Year opening times and any special events you may be running.
Encourage your customers to return to you in January. A special offer or January discount may be all it takes to encourage people to spend more with your business. It can be a difficult time of year for consumers as well, after the excesses of Christmas, the January blues can set in and money can be tight. However, with an enticing offer, you could see an increase in footfall and trading.
Put a quiet period to good use
If you are expecting a quiet time think about what key business tasks you can tick off early in the year. For most businesses there is usually a long list of tasks waiting on the to-do list and January could be the ideal time to tick them all off!
From catching up on admin, conducting staff reviews to setting business targets or working on business development ideas, the list can quite often be endless. All of these tasks are important, but can sometimes fall to the back of the queue when the day-to-day running of the business takes priority. Make January a great start to 2018 by ticking off some of these must do items early on.
Don’t flash the cash….too much!
Try not to let Christmas cheer cloud your judgement! Before you know it, you could be spending on lots of different areas that will eat into your Christmas profits! While Christmas parties, staff bonuses and staff gifts are all important, they are only possible if you can ensure that you’ve got the money to cover the January wages as well! Set a budget for each Christmas spend and make sure you keep to it.
For those businesses already thinking ahead to January it’s a good idea to look at the positives of having a potentially quiet trading time. Use the time to plan, get organised and prepare for the year ahead. Make a dry January the stepping stone to a successful 2018!