Can you believe it is already April?
It seems like just yesterday that we were ringing in the New Year. Now it’s almost time to put away the winter coats and haul out the patio furniture!
To quote one motivational speaker, when you are an entrepreneur, “the bad news is that time flies. The good news is that you are the pilot.“ As an entrepreneur, it is very important for you to create your opportunities and not wait for them to come to you. At times it can seem overwhelming. Try categorizing opportunities by season and you may find it easier to plan. Dividing the year into spring, summer, fall and winter can help you to understand what happens during those months. You will see that each season has distinct buying patterns.
With the change of each season you can study what a customer needs. During certain seasons there will be a high demand for products and then suddenly demand will drop. For example, January and February are usually slow months that can have a great impact on the retail sector. Many consumers are in recovery mode after Christmas and spending slows almost to a standstill. Do you as an entrepreneur plan for both the high and low times?
Whether you are offering a product or a service, you need to be aware of seasonal shifts.
Consider a heating and cooling company. At one time, winter was probably the busiest, most profitable season. However, with the onset of warmer summers, people now need cooling services. The seasonality of the business has changed based on consumer needs. As an entrepreneur, you need to carefully plan and research your market so you can formulate a plan. A shift can happen before your eyes. Be aware and seize the opportunity.
Seasonal holidays also need to be taken into consideration.
Accountability and observing the patterns will help you to map out assumptions so that you can recognize the opportunities and use the right marketing strategy.
It is also no secret that the different seasons bring different weather patterns. Those patterns have a huge impact on business! Even a person’s attitude changes with the weather.
Paralleling the seasons and developing your own business cycle will help you to prepare and be flexible.
Back in the sixties, the Byrds, an American rock band, covered Pete Seeger’s, “Turn! Turn! Turn!”, with its memorable chorus, “To everything… there is a season… and a time to every purpose…” To rewrite one verse slightly, there is a time to sell, a time to market, a time to change and a time to plan. Seasons will always change, bringing new opportunities. Take the time to plan carefully. Remember, you are the pilot. Chart the course ahead and make this your season!
We offer seminars on a variety of Small Business topics. Check out the schedule. For more information about any of Halton’s other Small Business Centre resources and services, and how we can help direct you to the right resources, contact us at 1-866-4HALTON (42-5866), www.haltonsmallbusiness.ca, firstname.lastname@example.org or visit us at 1151 Bronte Road, Oakville.