10 Things To Do When Business Slows Down

Published on Dec. 18, 2017

Are you having a bit of a panic about the end of year slump? That time of year when everyone is Christmas crazed and more concerned with spending time with their family than worrying about work. It can be a worrying time of year when business slows down. But instead of spending the festive season fretting, use this time to your advantage. Here are 10 things that you can do…

1: Have a Clean Out

You know all those stacks of paper that you didn’t quite get to this year? Well, now is the time to tidy them up. File what you need, shred the confidential things and recycle the rest. Reorganise your desk, shelves and workspace. Clearing the clutter from your office will help clear any confusion from your mind.

2: Have A Mini Break

Taking time away from work can focus your mind and refresh your energy levels. If there are no pressing deadlines to meet then you won’t have to feel guilty either. Even just a weekend away can perform miracles for your productivity and motivation.

3: Set A Budget and Plan

Create a budget for the upcoming year. Factor in all of your usual incomings and outgoings, but don’t forget to plan for the unexpected too. Plan for a cash buffer to get you through those quiet periods. You can also set out your marketing plan too. What do you want to focus on next year, and how are you going to do it.

4: Use The Holidays To Your Advantage

If you tend to get quiet over the festive season, then try to think of creative ways that you can boost your profile and sales. Send Christmas cards or small gifts to your best clients. You can also offer gift certificates to your customers as ideal Christmas presents.

5: Tidy Your Accounts

Are all your bank accounts reconciled and are all of your debts recovered? If not, you have some work to do this quiet period! You can also take the time to prepare for your taxes. It’s a job that no one likes doing. But it is better to do it during a quiet period, than trying to jam it in as the end of the financial year looms and the client work piles up. Don’t forget to send out any outstanding invoices to keep the cashflow humming.

6: Set And Review Goals

If you set goals at the beginning of the year, then now is the time to review them. Assess if you made the right amount of progress. If not, why was that? Now it is time to set some goals for the new year. Learn from last year’s mistakes by breaking your goals down into actionable tasks. Then you will give yourself the best chance of having them completed by this time next year.

7: Professional Development

Have a look at the direction of your business and see if there are any areas that you need to upskill in. Research what is available on the market to give you those skills. Then, make a list of the courses that you would like to complete. Be careful to only do the courses that are necessary. Don’t fall into the trap of taking too many courses and not giving yourself the time to implement your learnings.

8: Personal Chores

Do you need to clean out the spare room for Great Aunty Margaret to stay? Or maybe you are due for a dentist check up or an eye exam. Get all those personal chores done that you don’t have time for at any other part of the year.

9: Upgrade Your Office

If you have been meaning to research about a new printer or office chair, then get looking now. Don’t just stop your research at physical products. Assess what digital elements you can implement to make office life run smoother. Consider email welcome sequences, streamlining your processes and automating what you can.

10: Reconnect With Family

If you have spent most of the year locked away focusing on your business, then now is the time to reconnect. Spend time with your partner, play with the kids, and meet up with friends and other family members.

Just because you don’t have client work to do, does not mean that there is nothing to do in your business. Use this quiet period to set yourself up for the busy period that is just over the horizon.

It's been a revelation to us that we can use the information locked in our accounts to better predict and plan for growth.
James McGoram, Chief Digital Advisor at www.digitaladvisor.nz
Read more »