Surviving The Holidays

Posted on Aug 18, 2011 | 0 comments

With supermarket shelves slowly filling with Christmas products, it will only be a matter of time before the carols start playing and the shoppers start racing.

For anyone who runs a business, the holiday season is always a stressful one, presenting unique challenges and positive opportunities.

Here are a few tips to successfully surpass the holiday season.

1. Watch your cash flow: both businesses and individuals will report that the holidays create new dynamics for cash flow. If this is a time in which your business experiences high-income, then it is best to put that money into a reserve account. On the other hand, some businesses (and individuals) may need to reduce expenses as much as possible due to low income. Having money waiting in a reserve account for when times get tough is always a prudent measure.

2. Holiday gifts: a must-not-ignore holiday constituent that can sometimes prompt shoppers to ignore their budget. Whilst keeping cost in mind, business gifts to major customers, referral sources, strategic planners and employees show an appreciation of their input to a company’s success.

3. Holiday specials: businesses can create gift packages that bundle a number of products or services together. These increase total sales amounts and provide customers with excellent value

4. Gift certificates and gift cards: are a must have option for businesses that are aware of consumer demands. Consumers love the efficiency and simplicity of gift certificates no matter what your line of business may be.

5. Functions: during the holiday season functions are a way of networking and marketing. In hosting a function you have the opportunity to build potential client relationships and essentially extend your brand identity. Attending functions is a great opportunity to gain insight into other markets or even your own.

Holiday time is essentially a time to stop, evaluate and enjoy the opportunities it brings for you and your family.

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