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Archive for July, 2019

How to Survive the Summer Slump?


It’s finally summertime and families in the community are taking off for those long-anticipated vacations. Summer is the time for a break. Summer is the time flaunt your vacation. Summer is the time you give some time for a body massage and relax. But is it the same for entrepreneurs? Never. No matter, what the climate is entrepreneurs and business enthusiasts work their asses off every now and then. What does summer mean for your business? How can you manage your surplus of customers? Or how can you avoid a summer slump and get more customers through your door? We are here to offer a variety of tips and tricks to manage your summer business needs. Have a look at it and let’s fight and survive this summer slump together.

It’s quite natural as the heat picks up customers, clients, and suppliers take some time out to enjoy vacations. While a lull can be a bit disconcerting – particularly if you’re new to running a company – in fact, a quiet spell can be a great time to catch up on all the tasks you have put aside. And that means focusing on your company’s next steps, growth strategy, client roster, and even making time to learn new skills.

There’s always something that is taken least care at your office, no matter what size your business is. It can be organizing paperwork, gathering everything needed for your next VAT return, invoicing clients, paying outstanding invoices, budgeting for the year ahead, reviewing contracts and service providers, or simply filing away that mountain of documents that have been clogging up your desk, adjacent chair, or boardroom table for the last three months. Now is the perfect time to tackle all of that and overcome your admin burden.

Have a look at the pending works that have been going to your office for the past a year and start to work on it. You can arrange face-to-face meetings with your existing clients. Examine the client’s business and think about how can you help them in making their business wider. Create a proposal outlining additional work your company could do for them.

Running behind and catching up with clients might have led you to forget your competitors in the current market. Isn’t summer a perfect time for you to have a small analysis on your competitors. While of course you should avoid directly copying anything, it’s worth spending some time to take a closer look at some of the initiatives your closest rivals are working on. It will help you to bring great progress in the coming days. Here is also a small tip that you can make use of without burning your toils- follow your competitors’ social media feeds. Look at their websites. Download their apps. Seeing how they present themselves can be an effective way of understanding how they engage with their customers. Adapt the new changes that are practical, instead of copying them and add a new idea of you to it for bringing up your own identity and uniqueness.

Once you are done with analyzing your competitors, now you can have an eye on your long-term strategy. Have a future forecast on your business, where you see in five to ten years’ time. First of all, set financial targets. Decide what resources, staff, and turnover you need to hit those targets. Calculate whether you will need to secure additional financing or funding. This will give you a vision of whether you need to set a backup for the future needs of your business.

You might not have noticed, but it’s high time since you learned something new or developed a new skill. As everyone is on their summer vacation you also need to give some time for yourself and relaxation. Relaxation doesn’t mean staying away from work. You can give this time to cultivate a new skill. This can be earning a new language, brushing up on your coding, delving deeper into SEO, social media, blogging, design, and so on. Give some time for self-development along with your business development goals.

What if I tell you it’s okay to give some summer breaks to yourself and employees? If your business is driven by your client’s calendar, then it is okay to encourage your staff to take their leave at the same time as your client. Get yourself some refreshments and give it to them too. A refreshed mind and soul can sooth your business activities much better. In short, take a small summer break that is not too visible and summer slump and everything will go on track gradually.



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