Temporary business closures during the holidays are most popular during the month of December (e.g., Christmas shutdown). We are heading to year end and fast. As a business firm, you’ll need to be prepared for the December/January break as many businesses will close, and employees may be away for an extended period of time. Christmas break is a great time for you to relax and take a breather from work. But in order to really switch off from your business it pays to do a little forward planning first.  Planning ahead will help ensure that your business runs smoothly and remains competitive during this slow time of the year. Most small business owners are aware that things go quiet, but it can be incredibly stressful if you haven’t covered all your bases. Here’s how you can get ahead (and minimise cash-flow anxiety).

Mark your calendar

The best way to secure your business before year-end is by looking at your calendar. You may need to ‘double up’ now with work (including admin) to keep you covered over the quiet time especially if you’re planning on taking a break yourself. Ideally you should factor this in at the beginning of the year, especially when it comes to your budget, as you’ll need to bring in extra clients before the holidays to make up for the lack of cash flow during the shutdown. Do a detailed review of your current projects and tasks to ascertain what would be carried over to the following year and what needs to be prioritised for completion before you lock up. Do not get into 2023 without a strategy. Analyse your current strategies and come up with new goals and targets if there is need for improvement.

Follow up Invoice Payments

Lots of businesses find themselves tight with cash-flow in the New Year so it pays to be on top of your accounts and follow up any payments ahead of holiday shutdown.

Hold an event

Holding an event during the run-up to the festive season can play a critical role in attracting new customers before everything closes. Events offer opportunities to engage with potential new customers, give some client-love to existing ones, and increase sales through specials. The event should be geared to secure new clients, and ensure their continued engagement with the brand into the new year. 

Let your customers know

Before shutting your doors for the holidays, make sure your customers know. Like with employees, tell customers well in advance to avoid any surprises. Meet customers where they are. Announce your company shutdown (along with the time period) on every channel you can. Consider letting customers know through:

• Email
• Social media
• Business website
• Storefront / throughout the store

Chances are, you won’t catch everybody. So, as a safety net, set a new business voicemail with the days and times of the closure. And, create an automatic email response letting people know your business is temporarily closed. 

Gifts To Clients

As a business owner, you should always be looking to improve relationships with clients. Giving gifts is a simple way to stay in touch with your clients. You can celebrate holidays, project completions, and finalizing business arrangements by giving gifts. Gifts are a great way to let your clients know that you are thinking about them. Even when you are not directly interacting, a memorable or useful business gift can put you in your client’s minds. A personalized gift goes even further towards achieving this goal.

While useful, gifting should not be your primary method for improving client relations. Create a strategy to manage the clients that you already have. If your business does not provide quality goods or services, no gift can make up for that. Gifts should be something that adds to the relationship you’ve already built. They should not take the place of what you haven’t done. It is legal for a business to give gifts to clients and vendors, but there are some things to keep in mind. Also, when dealing with government clients and vendors, you should be cautious, as improper gifting is considered bribery.

Plan for 2023

Finally, it’s a good idea to do a little prep for the New Year before you return to work. By setting goals and planning your first steps out of the block in 2023 you’ll head into the New Year with more focus and purpose. Use this time to reflect and learn and set new goals for the new year. Make sure that your staff are included in the process; it gives them the opportunity to buy into the direction of the business, leading to a combined effort.

The team at Precise Management & Research Consultancy would love to wish all of our clients and colleagues a safe, fun and fruitful Christmas. We hope you all get to spend some valuable time with family and friends and we look forward to welcoming you all back in 2023.