For many small business owners January brings around a buzz of excitement as people start making goals, planning for the year to come and getting stuck in at work again. However as we get further into the month many will come across an all too common problem – once the business boom from the festive period drops off the January slump can set in. This is why we’ve come up with a few tips to help you and your business weather the storm. So you can remain positive through this slow period and continue to successfully grow your business well into the new year!
Focus on your core strengths.
When business slows down, we’re often overwhelmed by our reality – a saturated marketplace, large overheads and the stress of surviving till the end of the month. Whilst you may have a million and one ideas, now is not the time to monetize all of them. Instead you should be focusing on your core strengths, once you’ve evaluated the areas where your company excels most and what your customer’s main demands are you should act upon these. Whether it’s a particular service or a product, figure out what’s working for your business, refine and push it.
It’s time to use all that creativity you’ve got bottled up. This is the generation of all things digital right? So ask yourself why you’re not taking advantage of this. There are numerous platforms available online and across most devices which can help you market your product for free and compared to more traditional options use up just a fraction of the cost and time. From social media channels – Twitter, Facebook, LinkedIn, Google + and blogging to online communities, there are an increasing number of ways to reach out to people across the globe. Focusing some of your time on getting the company name and brand out there is hugely important, so take advantage of this quite period to grow your online presence.
Streamline your operations.
It’s all about being realistic, you don’t want to cut away at things that will affect your productivity and operations but you can evaluate areas that aren’t working as well as they could. Use the technology that we spend hours glued to each day! A lot of businesses are now opting to move their processes onto cloud based apps, as it can seriously reduce your expenses and offer an efficient alternative solution to completing many day to day tasks.
Evaluate your expenses.
Business expenses can often be likened to the cost of your daily cup of coffee – you won’t always notice it but we all know it quickly adds up. It’s important to realise that it’s not always the big bills that are costing you the most, small expenses that hit you every month can be the most costly but they’re also some of the easiest to trim! While you’re waiting for business to pick up, don’t just sit back and watch your money being eaten into, see where you can save money even if that means swapping your morning coffee pitstop for a hot flask.
Make a plan.
Having a plan or putting in place a few contingencies will ease any building anxiety in quiet periods. The key point though is to focus your energy on what you can do and not what you can’t do, it sounds like an obvious point but you’d be surprised how many people allow themselves to fall into the January slump. Instead use January to focus on your customers, find out what’s important to them whether it’s a particular product or service, communicate to see what they’d like from you this coming year. Use this quiet time to build on these relationships and you can almost plan for your years success now!
As you can see with just a little attention you can ensure that your business sails right on through to better times. If you liked the post then don’t forget to comment below or if you have any of your own tips on how to grow your business you can tweet us at @GetSimplifyd