I am sure you have seen this happen every year, your business seems to be slower during predictable times, like the summertime months or year-end. For the self-employed who rely upon steady cash flow, this can be a disconcerting time. Should you take a vacation or time off until things naturally pick up again? Or should you try to branch out and expand your business by offering other services?
Failing to invest the time and money to incorporate new technologies or added services into your business plan (and learning how to use them!) can be the barrier between the current state of your business and the success your biggest competitors have found. Your customers expect you to be a leader, and if they see that you’ve fallen behind, they are likely to find one of your competitors who have the technologies they seek. This has become all too apparent when you look at the success of your ‘big box’ competition. They take a great deal of business away from small to medium size businesses.
What can you do to be more competitive?
If you currently operate a computer repair business, why not learn about Home Theater Installation and Repair? Did I mention baseball season is around the corner and the perfect time to expand your offering? If you operate a Handyman business why not learn about Plumbing or Electrical services?
There are many service categories that can cross pollinate into other services rapidly. We talked about “Your business seems to be slower during predictable times, like the summertime months or year-end”. If you offered more services you may not see big slumps during the so-called predictable times.
Shake off the dust and see what you can do to expand your business into other services and reduce those big slumps during certain times of the year.