Getting your Small Business Ready for Summer Sales
Summertime is a season that brings along warm memories, as well as the promise of new ones yet to be made. For small business owners, some of these memories might include the rush of the busy season along with longer daylight hours and sudden influxes of beach-goers. In order to make the most of this time, business owners should create a strategy allowing them to plan marketing, inventory and sales so that things go without a hitch. Planning ahead is also an essential component of getting ready to take a well deserved vacation, as leaving your employees with a road map will allow them to remain on track and you to remain sane while away instead of worrying about what’s going on.
Review your historical data. A good indicator of what is going to sell is what sold last year, so dust off your records and look for trends indicating which months are going to be your most busy. If you have not already made collecting and organizing your sales data into a priority, then you should seriously take steps to do so now.
Anticipate trends. Relying entirely on historical data can get you in trouble, since new trends come and go quickly. It’s a good idea to cross your historical data with some fresh market research. Where you find historical data being reinforced by current market predictions, you can be much more sure that preparing for those periods is a worthwhile strategy.
Create a segmented plan. Depending on how things play out over the first month of the season, you will need to respond differently. For example, if you make a ton of sales, you are going to have to put plans to restock in motion. Conversely, if you are left with a surplus of items that haven’t moved, you are going to want to create a sale to bring in business and clear your shelves for something that will move. Think about multiple possible outcomes and document them. The more outcomes you plan for, the better able you will be to respond and if you are going to be leaving your plan as a road map for your managers, the more possibilities you account for, the better.
Photo Credit to george ruiz on Flickr