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    Avoid The Summer Slump: Boost your business in the offseason.
    The Vault

    Avoid The Summer Slump: Boost your business in the offseason.

    June 2016

    “Roll out those lazy, hazy, crazy days of summer.”  That’s what Nat King Cole instructed us to do with excitement in 1963, and it really is good advice, even for business owners.  Business owners typically haven’t embraced summer all that much, fearing the summertime lull that occurs when employees go on vacation and offices slow down.  But what if summer didn’t have to be a burden?  What if we could find opportunity in the slower season, instead of just focusing on slipping sales numbers?  

    Here are four tips that will help you embrace summer:

    # 1: Negotiate new and existing contracts.

    Business is slow for everyone, so it’s a great time to negotiate on the services you need.  Want to redo your website?  Hire a business coach?  This is the season to ask for a lower price or some bonus add-ons.  Consider also the option of bartering.  Trading work for work not only saves you cash, but builds relationships you can tap into later.

    # 2: Don’t just sit there.

    All businesses have lulls, but the best ones use the time wisely. If summer is your slow season, use it to complete the big projects -- revamping your marketing, sending out mailers to attract new clients, redoing your website, taking inventory, training your team, and so on.  You’ll emerge stronger in September and be better able to serve your customers (and crush your competition).

    # 3: Create meaningful internships.

    Business won’t suddenly boom because you hired interns, but getting intelligent, motivated people to work for you in the summer can be advantageous.  Interns are great at tackling big projects, particularly if they are a new “hot trend” (e.g. managing your social media), and they make for great full-time candidates when they’re ready for full employment.  

    Make your internship program selective from the start, and carefully consider which duties will go to interns.  A great internship provides young workers the opportunity to do meaningful work on high-priority projects, not just scut work.  That will require a lot of oversight on your part, but this is the perfect season to give it.  

    #4: Get outside.

    We all need a little work-life balance.  Summer is a special time of year and you should enjoy it.  Freedom is one of the reasons you went into business for yourself, remember? Don’t forget to have a little fun this year.

    Use your time wisely, enjoy the good life you’ve created, and “you’ll wish that summer could always be here.”


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