It’s almost the end of the year, so it’s time to refocus your marketing and business strategy to fit the upcoming holiday season. Maybe it’s time to throw the monkey wrench in and try something different! As for any small and growing business, quarterly planning is a great way to see and test strategies in the past for what works and what won’t.
While you still have SOME time before the peak holiday season, planning is essential, and you should do your best to stay ahead of the game. By taking the step to plan, you are minimizing the risk of failure on your part, allowing you time to handle last-minute challenges that may arise. We’ve compiled some advice or pointers you should take into consideration when it comes to creating your quarterly plan for your company:
Focus on the Holidays
Let’s get the obvious rule out of the way now. Many holidays are coming up that may (or may not) be relevant to your business. Take time to look at our mini list below to see if these are holidays you feel can be marketed with your products or services:
- Diwali – October 24, 2022
- Halloween – October 31, 2022
- Singles Day – November 11, 2022
- Thanksgiving – November 24, 2022
- Black Friday – November 25, 2022
- Small Business Saturday – November 26, 2022
- Cyber Monday – November 28, 2022
- Giving Tuesday – November 29, 2022
- Green Monday – December 12, 2022
- Hanukkah – December 18 – 26, 2022
- Christmas Day – December 25, 2022
- Boxing Day – December 26, 2022
- New Year – January 1, 2023
Analyze Last Year’s Budget
Reviewing your spending and investment return last year can better understand what does and does not work for your business. Sometimes you’ll find that you did not spend enough on marketing or inventory, which kept your sales low at the end of the year. Or maybe you overspent and did not see enough customers, which resulted in a loss. This will involve a little more creative but realistic thinking of what will work for your business. We aren’t suggesting you rent a Santa Clause, but if you think it will help bring customers to your retail store, it may be worth looking into.
Hire Season Help
The holiday season can be hectic for some businesses, like retail, e-commerce, restaurants, and grocery stores. It cannot be easy to handle a business at its peak when short-staffed. All-hand-on-deck is a must to keep customers satisfied and your business moving during busy times. Websites like Indeed, Monster, and LinkedIn can be a perfect place to find professionals needed to keep your business moving – or you can place a hiring poster outside your store to attract attention. The holiday season is a great time to hire teenagers looking to earn money for presents and take advantage of these eager, energetic young workers.
Order More Inventory
Depending on the nature of your small business, you may need to acquire additional inventory for a special holiday promotion or simply because you need to stock up on more items to meet the demand. Having an additional list of items on hand could significantly affect your bottom line. The increased sales can turn into a decent profit!
Have Special Promotions
Holiday sales can get customers in the door faster than you think. Everyone likes high-quality products at a discounted price. Look into creating discount codes, coupons, exclusive member deals, and seasonal specials to keep your loyal customers coming back for more.
Get festive in your workplace – it can attract customers! You can purchase Halloween, Thanksgiving, Christmas, and New Year decor to keep your environment lively. For businesses within the retail and restaurant industry, this is a great way to keep people feeling at home and entertained.
Acquire a Business Loan
One of the best ways to get ahead of these strategies is to acquire working capital to fund these ventures. First Union Lending is ready to help you find short-term loans and lines of credit needed to help you purchase things like decor, inventory, and equipment needed to prepare for a peak holiday season. Business funding doesn’t have to be a painful process – our professionals can walk you through the application process and provide you funding in as little as a week (but we suggest you do
First Union Lending is Here to Help
We offer a variety of loan programs for businesses of just about every size. Though, we specialize in working with smaller companies across the United States. We provide short-term, equipment, and SBA loans, among other financing types. Even if your credit score is less than ideal, we might still have a funding solution for you. And most of our clients will receive the cash in their accounts within two business days. Unlike many conventional banks, we don’t leave you hanging for weeks or even months. Call today to get started.