Five Common Summer Business Problems and How to Solve Them
When summer rolls around, people begin to exert a laid-back attitude toward everything from their spending habits to their weekend activity choices. The warm weather gives everyone the opportunity to get outside and start vacationing, but this doesn't always spell good news for entrepreneurs.
When selling jewelry-making supplies, it's important to adjust to the changes that come with every season. In the summer, the demands will understandably be different than those you face during the holidays at the end of the year.
Preparing for summer season changes can make sure that you're continuing to grow and make a profit as a beading company. That being said, there are many road blocks you need to observe in order to craft a strategy to help you get over the dog days of summer. Here are some of the most common obstacles that entrepreneurs face and how to confront them with confidence.
Forbes Magazine reports that you'll begin to see a very different demographic of customers once school is out for summer. Specifically, teenagers may soon become frequent consumers, offering to buy goods with their parents' credit cards.
It's easy for an entrepreneur to dismiss this group of customers--after all, they're young and likely spending money simply because they can. However, you can risk losing a hefty profit by completely ignoring this demographic during the summer months.
Regardless of your personal thoughts on the matter, there are a few ways that you can turn this into a positive situation for your beading company. First, make sure you maintain a certain level of respect with adolescents. Next, treat them as equals, even though they may not become loyal patrons of your business. Finally, keep a positive attitude about the matter and stay calm, especially when making a sale.
It can be difficult to network with other professionals in the business and get the word out about your company while everyone is away on summer vacation. Needless to say, this will be one of your toughest challenges once the weather begins to warm.
In order to make sure your company stays at the forefront of the industry and keeps moving, USA Today recommends turning to social networking. Do you have a Facebook or Twitter page? Use them to your advantage during this "off-season."
If you've always been meaning to learn more about certain social networking resources, such as Twitter or Pinterest, think about using your time during the summer to do so. This will better prepare you for instances in which marketing is crucial (e.g., the holiday season).
3. Drop in sales
There's no telling whether your company will be affected by consumers spending more time on the beach than shopping in stores, but chances are, you'll feel some of it once summer is in full swing. You don't need to sit idly and wait for fall to roll around in order to make a profit again--instead, look at how you can improve your goods and services today.
Entrepreneur.com states that the best thing you can do during the summer to yield income is to better your products, rather than offer discounts. While sales can bring more people through your doors, high quality beading is a more effective way to make money without losing cash on spontaneous discounts.
4. Laid-back employees
Your staff will likely get into a summer state of mind once the weather warms, which is something that can negatively affect your business over time. To make sure no one falls off the wagon, nip the problem in the bud by holding routine meetings with your staff to go over your goals for the season. By keeping everyone focused, you can make sure no one loses sight of the overall objectives for your beading company.
Similarly, you'll want to make sure that your employees are motivated to perform to the best of their ability during the summer months. The low volume of consumers may result in a lazy attitude, which can translate into poor customer service. By making sure all of your staff members are willing to go the extra mile during the summer, you can stand out among the competition during this slow season.
5. Lack of exposure
When everyone is away on vacation, it may seem impossible to reach out to customers. However, the U.S. Small Business Administration states that there are many ways to gain exposure during the summer--participate in community events or local charities to keep your company name at the forefront of the industry. Look for fairs and festivals where you can showcase your beading and display what you have to offer as a business.
How did you like this resource? Your feedback helps us provide resources that matter to you most.