The holidays are coming and that is music to the ears of retailers and business owners all over the country. Many small businesses make or break their year depending on how they do during the holidays, which is why planning and preparing for the holiday shopping rush is critical. There are several elements of your business that need to be prepared for the holiday shopping season and the sooner you start planning for those busy months, the more prepared you will be to benefit from the rush.
Get Your Financing In Place
A business relies on funding from many different sources to meet its financial obligations. For the holiday season, your business planning needs to include finance experts like the ones at Business Credit and Capital.
A bank is great for long-term and large funding projects, but the key to holiday funding is speed and reliability. A company like Business Credit and Capital can have your account set up in only a few business days and work with your organization to supply the ongoing funding you will need for those rapidly rising holiday obligations.
Make Sure You Are Staffed Properly
If you take on too much temporary holiday staffing, then you will lose money in excessive payroll payments. If you do not take on enough temporary holiday staffing, then you will lose money because you will be unable to keep up with the needs of your customers.
Take a look at the staffing you hired last year and compare that to your needs for the coming year. Do your best to create an accurate seasonal personnel projection and be prepared to adjust your personnel quickly. You need to react quickly to the seasonal personnel needs of your organization.
Take Care Of Inventory Levels
The holiday season comes and goes relatively quickly and you need to have your inventory levels up to par if you want to bring in the maximum amount of profits. Because of the slowdown in shipping during the holiday season, you may not get a chance to place refresh orders for certain products. That is why you need to have your inventory projections in place early and your orders ready to go.
You also need to make certain that your inventory purchasing cash is in place as well. Talk to your vendors about extending your credit limits and talk to the experts at Business Credit and Capital to make sure that you have the cash on hand to fill quick, holiday orders.
Marketing Is The Key
Consumers will scour the print and digital advertising to find the best deals for the holiday season. If you want your company to be in that mix, then you need to get your marketing together early and you need to invest in a variety of marketing mediums.
Not every small business can afford a marketing agency to take care of their holiday advertising, which is why planning ahead is so critical to your company’s success. By having your marketing in place well in advance of the holidays, you will be able to get your advertising in front of consumers who are looking to buy your products.
The holiday shopping rush is an important time for many small to medium-sized businesses around the country. With the proper level of preparation, any company can be ready to cash in on the profits that are available. It is important to have your business projections in place, and to make sure that you have all of your financial bases covered. Without the proper financing in place, this could be a very blue holiday season for your company.