The holiday season has arrived, and it is always a stressful time for anyone who runs a business and we hope our holiday season survival guide may help.
For those in retail, the entire year’s figures can depend on sales during the next few weeks. For every business, the holidays present unique challenges and opportunities.
Here are a number of tips for making it through the holiday season successfully:
Watch your cash flow
The holiday season is usually either the busiest or the slowest time of year. This means cash management is critical. So, if this is a high-income time for your business, put money in a reserve account. If this is a lean time, reduce expenses as much as possible and when your income increases, start a reserve account to get you through next year’s holidays.
Holiday specials
Create gift packages by ‘bundling’ a number of products or services together. Bundles increase total sales amounts for you and provide your customers with excellent value for money.
Gift certificates and gift cards
Gift cards have become extremely popular with consumers. It doesn’t really matter what kind of business you are, almost everyone can benefit from selling gift certificates at Christmas.
Hosting functions
Parties are a good way to connect with customers and referral sources. They can also be a good way to get people to come to a place of business if you have a store or office.
Keep your priorities straight
Remember the things that are really important: family, friends, and community. Spend time with those you truly care for and give to those who are less fortunate.
Call Leenane Templeton on (02) 4926 2300 or email us.
To discuss your business and your holiday season survival guide please feel free to contact our accoutants and business development departement.
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