Last Quarter Preparation for Your Business: 3 Priorities
The end of the year is fast approaching. While waiting, now is the best time for you to prepare for the holidays ahead. The bulk of online business growth comes during this holiday season. It is a busy time not only for people but for stores too.
There are many factors that you will need to consider, so it can be quite challenging to account for all of them properly. As such, we have prepared a quick guide to help you identify a few essential priorities you should not overlook.
The Importance of Early Preparation
A different kind of preparation is needed for the holidays, as it requires more than merely preparing your stocks. During this phase, you need to come up with a compelling holiday campaign that will suit your brand and then develop ways to execute it. You need to increase your production and estimate and note all the expenses. All of these require careful planning and brainstorming, and early preparation will give your business more time to research.
Take this opportunity to review all the previous holiday data you have. Make a comparison, and see which among your products or services sell the most. Take this moment to study your competitions, and check what they have done or are currently doing for their holiday campaigns.
With enough time for preparation, you can develop better ideas and solutions.
How to Prepare Your Business
During this busy time, early preparation is your weapon. It can help you face the challenges ahead and develop ways on how to make your business grow. How do companies prepare for the holidays? If you are a small business that needs guidance, you can start working on these three things.
1. Clean up your storage
The last few months of the year is when people shop more. Take this chance to sell more. If you still have stocks for sale in your stockroom, the holiday is the best time to get rid of them. Create promotions and offer discounts. People will surely love it, and doing so will make space for your new products.
Do not settle with one campaign the whole time. There are many events to celebrate during the last quarter of the year. Spread out your promos and discounts throughout this month and be creative with your mechanics for each one.
2. Develop your holiday marketing plan
Everyone is busy during the holidays, and all businesses are trying to capture the market’s attention. You need people to hear about your upcoming sales and promotions, so you have to develop an effective marketing and content strategy to achieve that. Make use of your email list, and choose the right timing for your business. Know when to start your campaign and when to end it.
Your early preparation will be worth it if you come up with a solid plan right on schedule.
3. Start training your staff
It is not enough that you are the only one prepared for the whole thing. You need to inform your staff as well. Tell your employees what you plan to have and what they should expect. Train them on how to manage the increase in demand and sales. If you have a team handling digital marketing, shipping, and customer service, you also need to prepare them for the rush ahead.
The holidays are a busy season for everyone, and at this time, your workers are your best source of help and support. Make sure to manage their needs so that they can deliver well and that your business can perform better.
Preparing for the holidays is nerve-wracking yet exciting. Do not let this preparation time pass you by. Take this chance to plan well for the sake of your staff and your business. The busy holiday season only comes once a year so brace yourself and start working on it. The result you’ll get from all the hard work would surely be worth it.
Along with the marketing and sales preparations, make sure to keep your finances in check. If you need a small business accountant in Gold Coast, know that we are here to assist. Our mission has always been to help businesses grow. Contact us today!