Top 5 Business Survival Tips For Christmas
It’s December and the festive season is in full swing. This time of year can be especially hectic leading up to Christmas and the New Year for many businesses. With a bit of forward planning you can make sure your business gets through the festive season unscathed and is ready to hit the ground running in 2016.
Here are a few survival tips to make sure this is both an enjoyable and prosperous time for you and your business.
1. Manage Cashflow
Keep track of your business cashflow cycle – factor in expenses such as holiday pay, Christmas parties and client entertainment and try to put off any expenses that can wait until the New Year. Chase your outstanding debtors for the year and make sure all jobs and projects are completed and invoiced before Christmas.
2. Monitor Stock
If you’re a retail business or any product-based business trading over the holiday season, then you need to check that your stock levels are adequate to cover you. There is nothing worse than running low on items that are high in demand or having to source merchandise over the holiday period.
3. Check Equipment
Make sure all your equipment maintenance is up-to-date in advance to minimise the chance of breakdowns while you’re away (and avoid you having to rush back to the office ahead of time). You also need an IT contingency plan with a tech guru on hand just in case there are any issues with your hardware or software.
4. Plan for Some R&R
If you want to take time off over the Christmas period but business needs to keep running, make sure you take time to speak to your team so that you can feel confident it will be business as usual in your absence. Delegate daily operational tasks to key staff that you know you can rely on.
5. Keep Everything Spick and Span
As the saying goes – tidy desk tidy mind – so before your business closes for Christmas make sure everything is spotless to survive you not being there and make it a great place to return to in the New Year!
Finally, remember to keep customers and staff engaged in the countdown to Christmas by promoting a festive environment in your business. You’ll find that most people will appreciate a bit of Christmas cheer when trying to survive the end of year rush!----------
Looking ahead to 2016
In January it's vital for every successful business to set aside time to review the previous years performance, strategise and map out your goals for the New Year ahead. As usual, Business Coaching Ireland will be hosting a Business Planning & Goal Setting Workshop in January to help businesses to do just that.
Further details are available on the Business Coaching Ireland website.
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Paul Fagan is Managing Director of Business Coaching Ireland, which is part of the largest business coaching, mentoring and training franchise company in the world, ActionCOACH Business Coaching. Business Coaching Ireland are providers of the ManagementWorks Business Growth Programme and Business Leadership Programme.