Thanks to travel plans, school closures and customers’ desire to spend time in the great outdoors, many small businesses are especially susceptible to low sales volumes and other issues during the summer season.
With proper preparation, however, small and mid-sized business owners can make the most of the summer season and use the extra time to make strategic improvements to their businesses. Entrepreneurs should actively consider the ways that you can leverage the summer months as an opportunity to grow your company.
How to Effectively Grow Your Business in the Summer
When considering ways to grow your business, the most important thing that you can be doing is identifying ways to maximize your company’s resources, in the summer months or really any time of year. Consider these quick tips:
- Build your annual marketing plan: Effective annual marketing plans are in-depth, highly detailed documents that outline your marketing budget and the strategies and tactics you’ll use to meet your marketing objectives. If you find yourself with extra time this summer, use it to consult with your team and a marketing professional to develop an annual marketing strategy for the year ahead.
- Consider ways to expand: The most successful entrepreneurs share one trait in common: they’re always growth oriented. You should be consistently looking for ways to expand your company’s operations and grow your business. Use your free time during the summer slump to think of ways to expand your firm. Is a new location feasible? What about a new partnership with a fellow small business in your area?
- Develop summer promotions: While some degree of summer slump is inevitable for many businesses, you don’t have to give up on boosting your sales numbers during the summer months. Developing a few summer promotions for your company could help you continue to attract new and existing customers to your store.
- Plan capital improvements: Whether you’re considering an expansion of your existing space or are simply hoping to install a new heating and cooling system, there is no shortage of ways in which investing in capital improvements for your business can improve your bottom line and change the way that you do business. Use the extra time during your summer slowdown to plan capital improvements for your firm.
Summertime can also be the optimal time to apply for additional funding to finance your capital improvements or your next expansion project. Tenet Financial Group is committed to meeting the needs of small- and mid-size business owners and first-time entrepreneurs. We make it easy to secure financing for your business, and we actively work to help our clients identify lending products that meet their specific needs.
We specialize in 401(k)/ROBS rollover funding, SBA loans, unsecured lines of credit and much more!
Contact one of our Senior Consultants today by calling (888) 901-3335, Option 9.