August 5, 2017 - How to survive the slow seasons in business
August 5, 2017•53 min
A seasonal fluctuation can result from dips in customer demand or supply issues.
No one can prepare for every possible contingency, but consider these seven tips for developing and sustaining a season-proof business. Here are seven tips to consider:
1. Understand the cycles in your industry.
2. Fortify planning skills.
3. Build alternative income streams.
4. Customer promotions need to be countercyclical.
5. Be creative about staying in touch.
6. Manage the impact of seasonality on staff.
7. Select a clued-in funding partner.
Seasonality affects nearly every business, with few exceptions. But building seasonality into the business plan will go far in ensuring success.