Most people look forward to summertime. The warm weather and relaxed atmosphere help create the allure of vacation and freedom. However, while most people enjoy the sunshine, many small business entrepreneurs dread it. In the business world, summertime comes with the “summertime slump.” In general, businesses slow down productivity during this time of the year. Most companies rely on the fall and winter months for their major revenue because the holidays and vacations in the summer interrupt the traditional employee workflow and the relaxed attitude can lead to less stringent deadlines. Nevertheless, a successful business owner should not let this time go to waste. Instead, use the summertime to refresh and prepare for a successful fall. If used correctly, the summer can be the best opportunity to grow your business.
1. Set Goals and Sharpen Focus
The summertime creates an easy avenue for distraction. Between vacations and the temptation of the warm weather, it is hard to stay focused on the growth and success of a business. Furthermore, as a small business entrepreneur, it is sometimes tempting to pursue every opportunity that comes your way. However, a lack of focus can create unhealthy growth and make it difficult to close sales. Therefore, the most successful companies use the summer to set new goals and sharpen their focus to get the legwork done in summertime slump so fall can be as successful as possible. Furthermore, by honing in your focus, you can reassess spending habits and get rid of any needless expenses that detract from your goals.
2. Communicate With Your Team
In the summer, employees can get distracted just as easy as you can. To improve the growth of your company, communicate with your team and outline your expectations. Be sure to check in with your staff to ensure they have the energy, ability, and resources they need to succeed. This allows you to convey your goals and it gets everyone focused on the continued success of the company so you can hit the ground running in the fall.
Additionally, communicating with your employees allows you to plan. Many employees will go on vacations during the summer, and you should strive to know when everyone will be available as far in advance as possible so you can plan meetings and deadlines accordingly.
3. Energize Your Employees
A company is only as good as its employees. Try to improve their efforts and experience by offering additional training and development. This creates a sense of unity and community growth that will inspire them for the fall. Additionally, take this time to focus on your staff’s needs and ask for their input on ways the company can improve. As a leader, you must be a team member.
Furthermore, the summertime is also a great time to hire new employees. The offseason gives you time to train them to be ready for the upcoming business surge.
4. Rethink Your Products
The downtime in the summer gives you ample opportunity to rethink your products and services. You should always be looking for new ways to sell. Some easy strategies include creating monthly subscription-based products and monetizing the company blog with offers and affiliates. Another way to focus on your products is to plan new marketing campaigns or special offers.
Additionally, you can use this time to develop new strategies and products. While new things can be beneficial, you do not need to reinvent the wheel. For example, if you normally sell various customer-specific services, try organizing them into packages. Most companies do this in a ‘good-better-best model.’ When bundling, create different product mixes that cater to different business sectors.
In the downtime, focusing on growth is essential. While the company can grow internally, it can also grow externally through networking. Use the summertime to meet with key partners and business friends. Additionally, connect with referral sources, vendors, and other parties that can help get your name out there. Continually refresh them with your capabilities and services as well as an opportunity or benefit they can gain from partnering with you.
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Resources: https://www.entrepreneur.com/article/295402, https://hermag.co/why-your-autumn-success-depends-on-your-summer-prep/, https://www.forbes.com/sites/forbesbusinessdevelopmentcouncil/2018/08/13/eight-simple-ways-to-leverage-summer-to-have-a-great-fall/#e8f14af943b7, https://www.hainesandlagerquist.com/5-steps-to-prepare-for-the-fall-selling-season-in-your-small-business/
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