Every business whether they're in retail, food service, finance, or advertising will see periods where sales are made in mass numbers, but also times when less sales are made. Periods such as mid-January or the end of July or late August are when things can slow down quite a bit as people have things such as tax season and back to school supplies, they need to save for. But it's during these times that your business can actually do some things to help itself financially and prepare for the return of the busy periods.
Get A Head Start On Upcoming Holidays
Instead of waiting for the last minute or trying to setup your business for holiday sales when they're drawing near and things get busy, start during the down time. During the slow January period, you could plan for the inventory you might purchase for Easter, or even for the summer months including the 4th of July. Likewise, if you're in the slow late summer months, it could be an excellent time to get your Thanksgiving week and Christmas decorations, inventory and activities planned. While you may not be able to get every little detail of what your business will be when you're months away from those holidays, a general plan will help you transition smoothly into them.
Get That Renovation Project You've Been Talking About Done
If you've been looking to give your store or office a new facelift, the slower seasons are usually a good time to do so. With less customer traffic coming through your door and usually an easier time for construction workers to get heavy tasks done, you could replace your old flooring or repaint your walls. It's just important to make sure paying for renovations won't eat up all your cash flow.
Invest in Additional Training Time for Employees
Trying to train employees for new positions or in more advanced sales tactics could be difficult when you're busy during peak sales times. But during slower months, you could reorganize your team and mentor them yourself, or have them take more training courses. In doing so, you can have them ready for other responsibilities when the time comes, and you'll probably feel less inclined to lay any of them off.
Make Modifications If Necessary On Your Business Plan
You don't have to restart your business from the ground up during the slow periods, unless it's in very dire straits. But you may want to go through your business plan, how you've structured things, and possibly change the things you've been doing. This might mean going over your marketing strategy either alone or with your marketing team if applicable, sitting down with your accountant or accounting firm to review how you've been investing your funds or to explore financing options, or even changing your face-to-face sales tactics with customers. Even if you only make some small changes, they may be critical to your business's success moving forward.
Consider Financing For Getting Through This Time
If things are slow and you need to boost your cash flow a little, you might consider getting financing through a merchant cash advance. This isn't a business loan that comes with all the long paperwork and asset appraisal red tape that loans come with. Business owners can get approved quickly for a merchant cash advance even if their credit isn't good.
At Vader Mountain Capital, not only do we offer this business loan alternative to business owners, but we also have opportunities for salespeople to become partners with us. You can earn commissions each time you help a business owner get funded through us. If you and your sales team are ready to start selling merchant cash advances to business owners, apply with us today at VaderMountainCapital.com.