
is that true? Is summer over? For many small businesses, fall, or fall (whatever you prefer to call it), is the busiest, busiest and most important time of the year. How will you make the most of the drop in your small business?
Of course, as a small business owner, you’re almost certainly working all summer. But summer is usually slower: the phone doesn’t ring often, the customers aren’t demanding, and maybe you’re even lucky and (smart) enough to go on vacation.
Now that it’s getting colder, the leaves are starting to turn, and as pumpkins and Halloween decorations start showing up on the front porch, the work begins. Clients and clients are calling again, issues are pending, and employees need training. Retailers are stocking up for the holidays, and consumers are now more likely to make bulk purchases or home improvements.
How can you make the most of the most productive time of the year? I now have six steps to do.
build connection:Lin-Manuel Miranda says small business is the ‘magic’ of the community
Americans are launching new businesses at a record rate in 2021. This is how they work.
Sell, sell, sell to keep your business competitive
Many small businesses rely on holiday sales for the bulk of their revenue. If that’s you, get out there and start selling in revenge.
If you’re selling products to consumers — whether retail or service — step up your marketing now. Customers are already shopping for holiday gifts and making holiday plans, and you want to be on their radar. If your B2B business relies on holiday sales (such as selling to retailers), get out there and secure an order, whether it’s a phone call, email, or an in-person meeting. Now is the time to market hard.
up in the air:Why podcast marketing could be the next big thing for your small business
Your small business needs to be on TikTok. That’s why it can have a huge impact.
Find ways customers can buy your product as a “gift”
Of course, the easiest way is to offer gift certificates. I’m surprised how many small businesses don’t. One of my favorite cafes doesn’t offer gift certificates – crazy!
But even if you offer something that most people don’t consider a gift — for example, a lawyer offers an “estate planning package” as a gift — you might be surprised that people buy it as a gift. If you have a POS (point of sale) plan, it probably already gives you the option to offer gift certificates.
Retail slowdown: Target slashes supplier orders, slashes prices as it looks to offload inventory
Overkill:Are you overselling your small business?
Attend or attend a trade show or conference
Fall is usually a big season for such events, but we’ve missed a few years due to the pandemic. Trade shows bring together highly targeted customers in one place, and most people who attend a conference or trade show are usually looking for a new product or service. In my business, our biggest source of big clients comes from people we’ve met at industry conferences in the past.
Make the most of what you have:Check out these 9 ways to earn more from your small business
A level playing field? LGBTQ-owned businesses are less likely to receive COVID relief loans, study says. This is data.
Keep in touch with suppliers
Fall isn’t just about you—your suppliers and suppliers are also very busy this time of year. They are particularly nervous because of supply chain disruptions over the past few years. Make sure you communicate regularly with your suppliers to ensure your stock and raw materials are there when you need them. And make sure you pay your bills on time so they can complete your order.
Build the village:Meet 3 small business owners who make their communities a better place
Are we caught in a violent inflation? High prices have experts wondering when we’ll see relief
build currency reserves
Yes, fall is when you spend a lot of money, but if you’re lucky, it’s also when you get a lot of cash. Maybe it’s your current sale, or maybe your sale is a summer business and you’re hot. Don’t spend so much money yet!
Especially this year, when the economy in 2023 looks uncertain, you’ll be happy to keep your money in the bank. Create two savings accounts: a reserve account for the slow months and a tax account, just for the IRS.
Inflation, recession fears present retailers with a tough decision: Lost customers or profits?
Tax details:‘A fraction’ of new IRS revenue expected to come from taxpayers earning less than $400,000 a year
Take action to re-energize you
Do at least one thing today to keep you going this fall. Solve a business problem that has been bothering you for a while. Call a new prospect or an old customer you’ve been wanting to get back in touch with. Have lunch with potential referral sources. Sit down and come up with some marketing ideas.
I know it’s hard to get back to work when you still wish it was summer, but fall is the time to make money so you can afford next year’s beach vacation.