Managing Seasonal Businesses – Here are 7 great tips to start with

Managing Seasonal Businesses – Here are 7 great tips to start with...

Seasonal businesses are very tricky to handle as maintaining the profitability of the company in the offseason does require some serious efforts. There are plenty of things to consider in a seasonal business as there is no one-way solution for every predicament. Following are some tips to manage your seasonal business in a more sustainable manner; 1.    Forecast business cycles in your industry In order to be more successful in your business you need to forecast the different stages of business cycle in your industry. You must be clearly able to distinguish between a peak season, a slow season and an off season in your business. This can be done by assessing the sales data of the past 3 or four years. If the company is young then industry figures will prove to be helpful. 2.    Plan ahead of a dry season and then the peak season The forecasting in the previous step will allow you  plan for the dry or peak season ahead of time. If the dry season is coming up then go for the activities that are planned for that season like how to manage finances from your other sources of income. If the peak season is coming up then a lot of activities are to be done like hiring back the seasonal workers, getting the production running and various similar  activities. 3.    Develop alternative routes for income As discussed in the above heading, it is important that there must be some side income to support your business practices in the offseason. However, this must be kept in mind that these activities are secondary and must not be preferred over the primary business activities. 4.    Well timed promotions The promotional activities of your seasonal business must...
5 reasons why your revenues aren’t growing

5 reasons why your revenues aren’t growing...

Every company is working in the industry to earn revenues as these revenues are the life-blood for them. After all the efforts put in, to accumulate the resources, align them as per the needs of the market, develop a particular type of product, produce it in numbers and deliver it in timely manner, still if the revenues do not grow as planned then all the activities carried out above seem meaningless. However, the whole above mentioned procedure should not be condemned and the focus should be on one question “what is not working?” Getting the answer to this question and aligning the whole procedure in accordance is the essence for a successful revenue growth in the long run. Following are the issues that must be settled if you want your company to progress as planned; 1.     Focusing on value addition instead of innovation Adding value for your customers is a good tactic, but in a supportive manner, it should not be treated like the primary objective of your company. On the other hand, innovation is certainly the one that should be among the primary concerns of the company. Nokia is the biggest example in the recent past that was taken over by innovation giant Microsoft. Once Nokia was leading the cell phone industry but since its main focus was on value addition and not on innovations it lost its grounds. 2.    Not facilitating your regular customers This is where the value focus of the company should be. Give some discounts to the regular customers because this will add to the company’s goodwill and it will also help in keeping the customers intact. Some customers bring in a whole network of other customers with them; now imagine if a...
3 essentials for marketing your roofing company, online

3 essentials for marketing your roofing company, online...

In the recent recession, the roofing companies have seen some tough times and this ceases the progress in the construction business as well. However, the economy is improving and the construction companies are foreseeing future in an optimistic manner. According to a market analysis conducted by some roofing contractors, the trend of roof improvements and repairs will be more in the residential areas as compared to the commercial projects and due to the recession these projects will have strong competition. This makes the scenarios clearer for the roofing companies as they have to promote themselves in a manner that has not been done before in this industry. The companies can use a wide variety of digital marketing tools but the question is how to decide which one is most relevant. Following are the three best techniques that can be used to promote your roofing company online; Advertise on search engines The best option to go for promoting your business online is to advertise your company and its services on a search engine. Previously, if an individual had to find roofing or any construction company s/he would go for the Yellow Pages. At that time Yellow Pages was one of the most important tools to promote your company on the internet. However, according to a recent study, 85% of the consumers search the internet to find a local company now. Therefore, this is a great opportunity to reserve a place in the search engine results. This will allow your company to be found by the perspective customers in a very easy manner. What needs to be done here is that make sure that your company ends up in the top ten results of the displayed search as most of the...
Tips for running an auto repair shop

Tips for running an auto repair shop...

Reduce employee turnover rate If you keep your employees happy you are more likely to also have happy customers. Establishing reliability and consistency is extremely important when running an auto repair shop. This is hard to accomplish when you have a high turnover rate of employees which can lead to inexperienced new workers who need to be guided into better mechanics which can take time. Reduce your employee turnover rate by treating your employees well, giving good benefits and paying them well. This will also make your customers more comfortable working with you when they see the same mechanics each time they come in for auto work. It’s hard to trust an auto shop when they have a different mechanic working on their vehicle every single time they come in. Guarantee your work Stand by the quality of your work with a guarantee. Your customers want to make sure they can trust you with their car when they leave it in your hands. You can guarantee your repairs for a certain amount of miles or time to keep people at ease. If you repair someone’s brakes, for instance, this will show them you’re not doing a shoddy job, causing them to come back in a few months to have the work done again. Give them a reason to trust your work and make them more likely to come back to you in the future. Reward your loyal customers Make your regulars feel appreciated by rewarding them for being loyal customers. Send them coupons for discounted work or give them a free oil change from time to time. There may be some upfront losses in revenue but will end up paying out in the long run as you start to...
Choosing a successful location for your software company

Choosing a successful location for your software company...

Every business owner must figure out how location will (or won’t) contribute to the success of the business — and choose a spot accordingly. Though there are many issues to consider when you’re looking for space to house your business, make sure you ask yourself these four important questions: • Is location important for the success of your business? • What type of location is best for your business? • How much rent can you afford? • Is your proposed location appropriate for what you plan to do there? Is Location Important for the Success of Your Business? For some businesses, the classic advice “location, location, location” is right on the mark — location can mean the difference between feast or famine. But for other enterprises, location may be much less important than finding affordable rental space. In fact, location is almost irrelevant for some businesses: service businesses that do all their work at their customers’ locations (such as roofers and plumbers) and businesses that have little contact with the public (such as mail-order companies, Internet-based businesses, and wholesalers). If these types of companies can pass on rent savings to their customers and their profit margin, picking a low-cost spot in an out-of-the-way area might be an advantage. Banking Software companies generally fall into this category. Most of the time, the clients of a software company do not go to their office. Software can be shipped, delivered by the company or sent electronically. Fancy, expensive office space is no necessary and the company can cut back on overhead by using a more practical space. What Type of Location Is Best for Your Business? The key to picking a profitable location is determining the factors that will increase customer volume...