Some of the best businesses that come across my desk are seasonal enterprises. From small, mom and pop flower shops to commodity futures firms, each is unique in how they tackle the concern of inconsistent revenues. However, being a seasonal business owner does not mean that you must surrender yourself to standard operating procedures.
In this issue, we show how entrepreneurs have diversified revenue streams, managed their assets, and artfully drew customers to their front door all year long. Snow and ice can wreak havoc on outdoor operations, while economic funding cycles may dictate project completions, but it’s how an owner confronts these challenges that determines the true strength of a company.
Diversification is key for owners seeking to balance summer income with slower times around the holidays. Challenge yourself to view your business from a new perspective. Take a look at your client base; are you missing customers you could be easily snapping up? Examine your monthly profit and loss to see if costs can be trimmed in the off-seasons. Strategize long-term to anticipate changes in order to act offensively, rather than giving in to a slow quarter.
Viewing the seasonality of your business as a strength will empower you to take command of your company’s vision. Use slow times to create a roadmap to guide your company, building goals and developing strong marketing plans. Assess what tools you have at your fingertips to reach your organizational goals.
I encourage you to embrace the possibilities with seasonal businesses. Don’t hesitate to own, purchase, or sell a company because of preconceived notions of how these businesses operate. If a seasonal business does not have a year-long season, seek to create one. As you’ll read in the pages that follow, a business is only as strong as its plan for success.
Also in This Issue
- Music City Blooms
- How Do I Finance My Seasonal Business?
- The Firm Winners
- 50/50 Revenue Streams
- Timing is Everything: The Impact of Trends on Sale Price
- Learning From A Pro: 8 Questions
- For The Love of Design: Expanding a Seasonal Landscaping Business
- Hog Farming to Hedging Commodities
- Culture is Key