7 quick tips to prepare your business for the holidays
Christmas holidays are a crucial trading period for many businesses. Small businesses see significant profits at the end of the calendar year, but how do you prepare for the Christmas madness?
Wish your trusty suppliers, a merry Christmas and be sure to lock down their closing dates.
You won’t have a business to operate if your wholesalers aren’t open.
- Do you have enough stock to cover the period they will be closed?
- Have you updated your accounts payable to include public holidays?
- Check last year’s inventory and sales reports and plan for similar patterns.
Staff party anyone?
Without your staff, your business would not function. What plans have you made to thank them? If they are not the partying type, could there be a bonus or something they would appreciate?
You want your staff to enjoy their holidays too, so make sure you have sufficient cash to pay them and back up staff to cover leave requests.
Embrace online marketing
Do you have an email list? If so now is the time to put together a brief promo for the holiday season. Things to include might be:
- Trading hours
- Gift ideas for different age groups
- Or gift voucher promos
Have you thought of creative ways to ask for email addresses? Drop your email address in the jar to win is always an easy way to grow a list for a brick and mortar store.
Don’t forget your social media. If you can schedule 3 or 4 posts per week to roll out during the holiday period, it won’t matter if you get busy too post something. Check out apps like Canva for easy, modern-looking graphics you can add your logo to without needing a graphic design degree.
Tighten up security
Along with more traffic comes the opportunity for things to get stolen. Get your loss prevention systems in place before the crowds arrive.
Have you amended delivery times on your website or social pages?
Christmas can be a great time to welcome new customers but also a prime time to receive bad reviews.
New customers versus old customers?
Long-time customers may be a reliable source of income, but a new customer should always be made to feel special to keep them coming back. Work out how you can appeal to each group and in whom you should invest the most time and money? Are there ways you can reward both the new customer and your long-standing favourites?
Take a break, yes you!
Try to step away from your business even if it’s just for two days. Enforce a screen ban and spend some time with people and nature. Shuffle your priorities and plan ahead. Put it in your calendar and start letting people know you will be unavailable during that time. 2020 is fast approaching your business needs you to be rested and prepared.
Disclaimer: Information is of a general nature. Please consult your Account or Financial advisor for advice.