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Still time to Boost Your Profitability this Summer!

By CustomCarePlan | August 12, 2010

Take Advantage of Slower times!

Most people view the summer season as a relaxing time to enjoy the warm weather. For businesses, however, the sun doesn’t shine as bright. Many businesses experience a  downturn in the summer months as employees and clients take vacations. The summer slowdown can free up valuable time and resources to pursue opportunities left by the wayside the rest of the year. And even if your business actually thrives during the summer, there’s always room to grow.

1.Bargain hunting – If you’ve been waiting to purchase new office equipment, the summer is a great time to shop around. Suppliers may offer good deals to generate summer business, and you can even negotiate for additional perks like added features or discounted service plans.
2.Research your purchases – A slow summer provides ample time to perform due diligence on major purchasing decisions, even if you don’t plan to buy for months. It may also give you time to research that health care plan you wanted to provide for your staff.
3.Get organized – Even in the summer, it doesn’t hurt to do some “spring cleaning:” start shredding old documents you no longer need. If you must keep the documents but you’re running out of space, a document imaging service can convert your paper docs into easily-manageable electronic files. And clean up isn’t restricted to just physical documents deleting old emails and programs you no longer use can help boost your PC’s performance.
4.Hire summer help – Local universities and professional staffing companies are great sources for finding young professionals looking for internships or part-time work for the summer. The extra help allows you to hand off mundane tasks like general office duties or data compilation, allowing you to focus on growing your business.
5.Revisit old ideas – Use your extra time to go back to ideas or projects you put on the back burner earlier in the year.  Laying the foundation for new concepts during the slow summer months could help put your company in a better position when business picks up. Maybe you have thought of researching a Health Care Plan for small business.
6.Advertising opportunities – While you may tighten your purse strings during the summer, it’s actually a great opportunity to pursue advertising vehicles that weren’t in your original plans. Media companies sometimes offer discounted radio or television ad spots to allow you to reach a broader audience.
7.Schedule business trips – Do you have an opportunity to sign a customer in a different province or coutnry. For example states in the US like Nevada, California, and Florida rely heavily on winter tourism and usually experience a significant drop in visitors during the summer. If you’re willing to brave the summer heat, you can typically find discounted rates on flights to these destinations.
8.Get reacquainted with your customers – Make sure your customers keep your business in mind, even if they’re not working with you at the time. Use the summer lull to develop email offers, newsletters, and direct mail campaigns to generate interest in your products and services for when customers are ready to buy.
9.Celebrate your staff – Don’t overlook one of your most valuable resources: your employees. Something as simple as a free lunch or company outing during the summer can go a long way to raise employee morale and show your appreciation for all their hard work.
10.Take time off – If business is slow because customers are taking vacation time, why not follow suit? After working hard all year to make your business flourish, relax and spend time with friends and family. Besides, abandoning your Blackberry and laptop for a while can help recharge your batteries and make you more productive when you return to work.

Topics: Health Care Benefits For Small Business, PHSP - Designed for Canadian Small Business Owners | No Comments »

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