With only seven more sleeps till the big day, it can feel like you’ll never get the proper sleep you’ll need to manage the hectic period that is Christmas and New Year.
Whilst the festive season can be an incredibly valuable and financially lucrative time for small business, this time of year often proves to be a difficult venture.
Cameron Poolman, CEO of OnDeck Australia, has shared a few tips to keep you travelling well throughout this busy season and the next.
- Plan ahead for staffing needs
Whether you have employees who want to take time off over the Christmas period, or you simply need additional staff for the increase in customers, it always help to plan out your rostering and staffing needs early.
- Organise your funds in advance
With an increase in consumer spending, often comes an increase in the business’ expenses. Ensure that you have adequate funds prepared to afford upfront extra purchases to meet incoming demand, as well as managing recruitment and training costs for extra staff being hired.
- Make decisions based on previous trends
When preparing for major events, make informed decisions based on past trends in your business. Referring back to the year before can help you make more accurate estimates on processes like ordering, staffing, and pricing.
- Take a break
Research undertaken by OnDeck Australia found that one in four have not had a break from their business in the past four years. After the excitement of Christmas and the New Year dies down, its important to take a break and focus on your wellbeing. Not only for yourself but for the success and growth of your business in 2020.
If you’re struggling through this time there’s always help and support out there. Reach out to a friend or family member or contact a support service operating through this period.
Phone: 1300 22 4636
Phone: 13 11 14
Phone: 1300 342 255
Discover more of OnDeck Australia’s advice to keep you going through this silly season here.