Once the Christmas rush has passed, many businesses in Australia find January to be one of the slowest months of the year. After all, there are no more gifts left to shop for, and children are not yet back in school, so many people are still enjoying a bit of holiday time with their families. However, just because business is slow does not mean that you and your team should just sit back and relax. January is actually the perfect time to get to work to set your organisation up for success in the coming year.
Start by conducting a thorough inventory of your merchandise. Go through everything to ensure that nothing is damaged or broken and that you have enough of each product to keep you going once business picks back up again. If your business is service-based, review customer comment cards and give your employees performance reviews. This is also a great time for ongoing training for your team.
Review Financial Projections
Take advantage of this downtime to do a detailed analysis of your company’s finances. Look for areas in your budget where you could potentially save some money to put to better use in other areas. Compare your business’ performance over the past year with your projections for that year. If there are significant differences, aim to figure out why. The more information you can gather, the better you’ll be able to prepare for the year ahead.
Develop New Marketing Materials
Since you and your team won’t be as busy with customers as you usually are, this is a great time to revamp your marketing and advertising efforts. Whether this means coming up with a new slogan or breathing new life into your company’s website, use this time to bring greater focus to your branding so that your customers can have a more consistent experience in all aspects of your business.
General Office Upkeep
Throughout the year, your office or store can sometimes get a bit messy. During your January downtime, do some deep cleaning to bring your facility back to its former glory. Make sure that all furnishings and fixtures are in proper working order as well. You and your team will be much happier and more productive in a conducive work environment.
These are just a few of the many things that you and your team can do to stay productive during the slow season. The more proactive you are during this time, the easier it will be to jump back in when it gets busy again.