Seasonal businesses have a unique way of doing things due to fluctuations in demand for their product or service. This fluctuation comes from their product or service only being in demand in certain seasons of the year. From inventory control to managing your staff, let us consider some mistakes to avoid when running a seasonal business.
Failing to budget for extra staff
Even if you are a small-to-medium sized business with a limited budget, it is still extremely important to hire extra staff during the busy season. You may well be able to manage by yourself or with your current staff however, this might come at the expense of personal well-being which will mean no one will perform at their very best.
Failing to value the peak season aftermath
As wonderful as the peak season is and all the traffic it brings through your doors, it is important to stay alert after the peak season has died down. There are many ways to make the most of the off-peak season, such as conducting inventory stock takes, planning for the next season, and even strengthening relationships with their suppliers.
You haven’t moved to the cloud
If you’re still using paper to conduct your inventory stock take, you’re missing out on the efficiency of moving to the cloud! Going paperless keeps everything organised and traceable with no filing required at the end of a long week. There are several options of paperless systems so investigate what your company needs and can afford in the off-season so that when things start to pick up, you are all ready to go.
Timing and pitching of sales
A big mistake business owners make is not starting the sales early enough to capitalise on demand, and then pitching the sales too high. Certainly, maximising the bottom line is an excellent goal, however if the products are unaffordable, you’ve run out of inventory, or it’s not available at an acceptable price when customers need them, they will go elsewhere. And in the end, this adds nothing to the bottom line.
Failing to engage
Engaging with customers takes time and effort, but it will pay off in the long run. How do you engage with your customers? Be where they are in the form of ad campaigns, email marketing and at retail expos. When you do have an interaction with them, make it valuable and genuine so that a rapport is built. This is fundamental to good business practice and building a loyal customer base.