www.witinall.com
Your German language service
  • Home
  • About
  • Contact
  • Terms
  • AGB
  • Blog
  • Shop
  • Languages
  • Site Privacy Policy
  • Ask the Experts

Have your say...

No nasty comments, please!

email

How to Ensure Your Business Survives During Seasonal Dips

4/30/2018

2 Comments

 
How to Ensure Your Business Survives During Seasonal Dips
by Samuel Gitukui


Every entrepreneur will at some point have to deal with seasonal fluctuations. The key for a thriving business is having a contingency plan for when the demand goes down. Of course, no one can predict the future but knowing what to do during off seasons means that your business will continue to operate well above its costs. Let’s take a look at some tips to help keep your business thriving regardless of the seasonal change.

       1.      Be Aware of the Business Cycles in Your Industry

A new business that is being managed the right way can experience a rapid increase in sales. However, this can easily hide the reality of seasonal fluctuations. Plans should be made with reference on data from the last two or three years.

If, however the enterprise hasn’t been around that long, you can use data from other businesses that are much older than yours.

       2.      Plan Ahead

Nothing beats making plans. After you have internalized the business cycle, make plans for the next 6 months at least. Keep everything under record. When the sales are high, consider keeping some money in reserve to cater for the slow periods. This will ensure you are well cushioned in case of any dips in sales.

       3.      Don’t Rely on a Single Source of Income

While this might suggest you need to start an alternative business, it wouldn’t hurt. The income from it will help cushion you from the low seasons. Just remember to still focus on your core business and provide just the right attention and resources it needs to be successful.

       4.      Keep Note of Your Competitors

Marketing your business is crucial and will help draw in more customers. One excellent strategy is to take advantage of when your competitors are silent. Clients will notice you better and get interested.

       5.      Stay Ahead of the Game

By this we mean that you should be creative. As much as it is a good strategy to promote your products when your competitors have slowed down on their campaigns, you should also maintain your presence in the minds of the customers throughout the year regardless of the seasonal fluctuations.

Try and find a creative way to spark their interests that stands out from your competitors. This will keep the clients rolling in.

       6.      Let Your Employees Know

Sometimes seasonal fluctuations mean that the business simply cannot avoid letting go of employees. Make sure that the employees are aware of this possibility as well as the relevant terms of employment.

By making everything clear, you will avoid resentment when you have to relieve some of your employees. When the sales increase, they will be willing to work for you again.

       7.      Get a Funding Partner

Building relationships with partners in the same industry will provide you with a reliable back up plan in case things go awry. You may need expert advice, more finance or more employees.

The right funder should have experience in the same industry and should be in a position to help you anticipate challenges and find solutions to them.

Seasonality is a factor that cannot be avoided. By including it in your business plans, you will always know what to during times of slow business.
Picture
2 Comments
shareit.onl link
10/24/2022 05:45:17 am

nks for sharing the article, and more importantly, your personal experience of mindfully using our emotions as data about our inner state and knowing when it’s better sdcto de-escalate by taking a time out are great tools. Appreciate you reading and sharing your story since I can certainly relate and I think others can to

Reply
mxplayer.pro link
10/24/2022 06:28:39 am

sharing the article, and more importantly, your personal experience of mindfully using our emotions as data about our inner state and knowing when it’s better sdcto de-escalate by taking a time out are great tools. Appreciate you reading and sharing your story since I can certainly relate and I think others can to

Reply



Leave a Reply.

    Authors

    Alexandra
    Matthieu
    ​Sarah
    ​Samuel
    ​Summer
    ​Mike

    Archives

    January 2023
    November 2022
    September 2022
    August 2022
    July 2022
    May 2022
    March 2022
    February 2022
    January 2022
    December 2021
    November 2021
    October 2021
    August 2021
    July 2021
    June 2021
    April 2021
    March 2021
    February 2021
    January 2021
    November 2020
    October 2020
    September 2020
    August 2020
    June 2020
    April 2020
    March 2020
    January 2020
    December 2019
    November 2019
    October 2019
    September 2019
    July 2019
    June 2019
    May 2019
    April 2019
    March 2019
    February 2019
    January 2019
    December 2018
    November 2018
    October 2018
    September 2018
    August 2018
    July 2018
    June 2018
    May 2018
    April 2018
    March 2018
    January 2018
    August 2017
    March 2017
    February 2017
    October 2016
    May 2016
    April 2016
    February 2016
    January 2016
    December 2015
    December 2014
    September 2014
    February 2014
    January 2014
    September 2013

    Categories

    All

    RSS Feed

    Link to Delicious
    English Dictionary;
Proudly powered by Weebly