If your business is like most, you are currently experiencing the summer slowdown. Business owners often react out of anxiety rather than embracing the slowdown as an opportunity. Your summer doesn’t have to be stressful if you shift your perspective. Over the years we have noticed that businesses that use the summer to re-evaluate and recharge take on the fall upswing refreshed and ready to boost sales.
Want to keep the momentum moving forward rather than slowing down? Here are 10 tips on how to embrace the summer slowdown:
10 Ways to Stay Productive During the Business Summer Slowdown
1. Do a mid-year review
This is an excellent time to evaluate how your plan for the year is working, or not working, and adjust accordingly. A quick mid-year review will give you insights into whether you are in alignment with your plans and goals.
2. Upgrade your systems
Having the right systems in place to leverage your time and your energy is a necessity. Often upgrades are put on hold because they take time or require whole systems to be offline. Grab the opportunity to get current while business is slow.
3. Update your brand
You have the head space right now to reevaluate your brand. Make sure your messaging and positioning reflects your company’s mission and values—as well as the value you have to deliver to customers.
As you update your brand, are you thinking about growing your business? Not sure where to start? See how we can help in this recent blog post.
4. Batch plan and create content marketing
Prepare and create several weeks, or months, of content marketing in advance. When things speed up in the fall, your content is already in place and ready to go.
5. Think seasonal
Take advantage of seasonal marketing opportunities. Look beyond only major holidays and consider marketing opportunities centered around popular summertime activities like cookouts, beach trips, and baseball games.
6. Get your books in order
No one expects a business audit yearly. But it never hurts to prepare if you have some time. See here how to prepare should your company ever be audited by the IRS.
7. Avoid cutting prices
Cutting prices reduces your business’ profits. Ask yourself what you can do to boost the perceived value of your products and services.
8. Introduce a new product or service
Fewer new items are on the market at this time so your product has a better chance of attracting attention. Gauge interest and if it doesn’t hit the mark you can pull it without embarrassment.
9. Cross-promotion
Collaborate with another business— particularly one that is summer-sales oriented. This can be a win-win for both businesses, as you will be introduced to new audiences.
10. Get your annual business valuation
Keep your peace of mind that your business is financially healthy with an annual business valuation. Not sure what it is or why it is important? Read this recent helpful post.
BONUS TIP: Go on a vacation!
Seriously. Take a vacation. Read here for some ways to prepare for your absence.
Or send your team on a vacation. Love staying busy and can’t wrap your mind around the value of downtime? Start with a company retreat where you blend work — maybe some of the aforementioned tips — with play.
Just as quickly as it came on, summer will pass. Have some fun and prepare your business while it lasts and know that business will pick up again once fall arrives!
If you are experiencing the summer slump, stay grounded and use the time to your best advantage. If you have been putting off scheduling a consultation to make better financial decisions because there just is not enough time- this is the perfect time to give us a call.