As a new season approaches this will be a different fall than ever before. This time of year is typically filled with back to school ideas and specials as we say farewell to summer. This year has been consumed by COVID and we have had to make major adjustments operating our business and our lives. Now that things are somewhat back to normal, we have tried to salvage what was left of the summer and must plan for the fall. As we plan for the fall here are 3 tips that all small business owners should consider:
- Plan for the unexpected – no one could have predicted COVID and no one knows what the future can hold. With that in mind it is vital that everyone has a source of capital ready for when it is needed. If you do not have a line of credit we highly suggest applying for one soon.
- Establish local partnerships – every small business in your area is going through the same thing. A rising tide raises all ships and that is what we want all small business owners to understand and practice. Talk to your neighbors and figure out ways to work with them. Maybe you can run a community sale day or share information to your customers for one another. The important part is to get out and make sure that you are doing what you can to help your community as you will receive help in the process.
- Create a fall promotion – everybody loves a good deal. It is time to make an announcement to your customers and promote an event. Whether it is in person or an online event, the key is to get people browsing and shopping your products. You need to get people back in the habit of shopping at your location and keeping your name and brand top of mind. Create a promotion, use all your channels to spread the message, your website, social media outlets, email, your partners, and your store (with signs and other promotional tools) and anything else at your disposal. Eye balls lead to foot traffic and foot traffic leads to sales.
These 3 tips can help set up your business for future success. The 1st deals with the unknown, the 2nd helps with support, and the 3rd tip leads to sales and new business. Nothing in business is ever guaranteed, but, if you want to to minimize your risk and put yourself in the best position for success, try to follow these steps and you will be in a better position moving forward.