As the saying goes, every ending is also a new beginning. A new year is on the horizon. For entrepreneurs, it means welcoming new opportunities to drive success and growth.
While welcoming the New Year is a festive tradition cherished all over the world, it can be a stressful time for entrepreneurs. This may be a jam-packed time for business, but you can still take the time to review, reflect, and gear up for the next 12 months.
Here are some ways to ready your business for the coming year.
Take time to reflect
Use the opportunity to reflect on how your business ran for the past 12 months. Learn from your experience. Evaluate and analyze the strong and weak points of your business. Take note of feedback from your peers, your team, and your customers.
Did your business meet sales goals? Were your marketing plans and promos effective? Did you generate more income? Reflecting can help your business set new goals and create new game plans for the new year.
Close your books properly
The end of the year means you will soon file your annual income tax, but before you can do that, you have to close your books properly first.
To wipe your slate clean this year, you should invoice all unbilled orders, pay all your dues, and record all your income and expenses. Make sure to update all your fixed assets if you’ve purchased new equipment or property, as well as record your inventory.
Create stronger relationships
Creating a strong relationship between your business and your local community is far more valuable than anything. A personalized connection with your customers can go a long way in growing your business.
You can establish this link by adding an advocacy to your business, like hosting a charity event in your community or donating the proceeds earned from your promo to a foundation. Not only can you do this during the holidays, but also for the rest of the year.
Aside from your customers, you can also make time for your team. Give your employees a pat on the back. Celebrating the holidays with them to strengthen the bond. Motivate them by giving incentives and bonuses.
Managing your business can be tiring and grueling. Like your customers, you too deserve time for self-care. Treat yourself to a weekend trip outside town, or a massage at your favorite spa. Take time to unwind and exercise. With a relaxed mind and stronger body, you can lead your business towards success in the new year.
Create a game plan
The success and growth of your business depends on how you will game out your strategy for the new year. As mentioned above, taking time to reflect can help you write your new business plan. Take note of your successes and mistakes and learn how you can progress from it.
For more business tips, sign up to Globe myBusiness Academy today for free!
Christmas—a season for loving and giving—is a perfect time for you to express your gratitude to your customers. It’s a time to give back, and let action speak louder than words. Your business can show love and appreciation that hits closer to home.
Do something new that comes a long way in helping you build trust and loyalty. Sweet treats, special freebies, and holiday rewards—more than just little gifts, these forms of appreciation and gratitude can help your business greatly enhance customer experience.
To spread love towards your customers this Christmas, here are some ideas that you can use to create holiday rewards.
To sweeten up the cheery season, your business can offer sweet treats as Christmas rewards like candies, chocolates, and pops to your customers for the purchases they make.
Likewise, you can also offer personalized tokens and limited edition merchandise like pens, mugs, planners, shirts, and stuffed toys, among others, as freebies to your loyal customers.
Spice things up a bit with some fun and games where your customers can play to win rewards. You can create raffles, online quizzes, and mini-games for your customers to earn points and win special prizes.
You can thank your followers on social media by offering them exclusive promotions that they can avail on Facebook, Twitter, and Instagram.
For example, you can allow your customers to earn special rewards by following and sharing the social media accounts of your business.
This way, not only do your customers enjoy rewards, but your business’ social media platforms also benefits from the gimmick.
Give your customers a shout out by featuring them on your social media platforms.
What you can do is take group photos of your customers, and then share them on your Facebook page or Twitter account to thank them for choosing your business.
Through this feature, your business can make your customers feel valued and appreciated.
Allow your customers to earn and accumulate points that give them access to exclusive promotions like discount coupons, free merchandise, and other incentives.
Your business can effectively do this with the RUSH Loyalty App, which allows entrepreneurs to grant customers points and rewards through mobile phones.
By creating a loyalty program through RUSH, your business can provide more value and impact to your customers, which allows you to create long-lasting relationships with customers.
As the saying goes, actions speak louder than words. With a rewards system made for your loyal customers, your business can enjoy a successful Christmas season.
For more business tips and event invites, sign up now to Globe myBusiness Academy for free.
The Christmas season brings out the rush in holiday shoppers. Malls are crowded, bazaars are packed, and online shops are swarmed. Everyone is buying gifts in this time of giving.
For an entrepreneur, it’s also an opportunity to give back to your customers. You can create holiday cheer through your products and services by offering special discounts, promos, and loyalty rewards. In addition, you can use this opportunity to grow your business in this festive and prosperous season.
Here’s a rundown on why it’s important for your business to create a Christmas promo.
During the holiday season, more customers go out with their families, friends, and loved ones. Notably, this is when private companies as well as government offices usually allow them to take a vacation.
This is apparent in the surge of customer activity at malls, holiday bazaars, resorts, and other leisure spots that are usually reported in the news.
With this in mind, business owners can expect more demand for products and services in major public squares where business activity is high.
Business owners can expect shoppers to have more money to spend during the holidays. After all, this is the season when consumers receive their much-awaited 13th month pay as well as holiday bonuses.
However, shoppers are not so eager to spend it all hastily. They still prefer great deals and offers to make the most of their cash. Some flock to brick and mortar stores while others surf the web for affordable gifts.
Department stores, apparel outlets, and toy shops usually offer discounts ranging from 25% to 50% as well as “buy one-take one” promos on their select products.
Some major brands offer special Christmas rewards to loyal customers who consistently purchase their products throughout the season.
One good example is how food and beverage stores would offer exclusive rewards such as planners, gift cards, and other essentials to loyal customers as a way to make them feel special this Christmas.
If your business can offer a hot holiday reward, you can expect customers to spend generously on your goods and services.
During the holiday season, business owners usually create a clearance sale to clear their shelves of surplus that they were not able to sell before.
For example, some department stores offer clearance sales at reduced prices ranging from 60% to 90% worth of discount. This is because they want to replenish their inventory with new stock.
With a fresh inventory, your business is able to start offering new products once the new year arrives.
With more customers, more demand, and more purchasing power, your business is not the only one wooing holiday shoppers.
Offline and online, businesses are offering their own special discounts, offers, and rewards to attract more customers. At malls, online shops, and bazaars, the market is competitive—almost every shop has their own Christmas promo.
Get ahead of your competition. Study your market. Be on the lookout for activities of competitors, and analyze how you can rise above it. With this, you can create a promo that can attract shoppers and grow your business.
For more business tips and event invites this holiday season, sign up to Globe myBusiness Academy today for free.
Get access to all our exclusive member-only content