Get your business ready for Christmas
It’s that time of year, the ‘ember’ months are upon us, and we are creeping towards black Friday, cyber Monday, and Christmas sales season.
We have found many businesses find getting ready for this period of the year incredibly tough. Supplier contracts, cash flow, and higher marketing costs all take a toll. Seasonal demand is at its peak, you are so busy and can't see the forest for the trees.
To help level the playing field, we put together this handy checklist, to get your business Christmas-ready. I mean everyone loves a checklist, right?
Cash is king
Cash is the beating heart of any business, and during the festive period, it is critical you get your cash flow right. Some tips include calling in your invoices as early as possible, as every other business will be just as busy. Access additional finance should you need it, as this could also help ensure you maintain a healthy cash flow. A healthy cash flow means you can capitalise on the opportunities available over the holiday season.
Hire temp staff early and plan for backups
Demand is high, there are lots of customers, and business is booming but your staff is overstretched and overworked. It is critical that before the boom, you take time to evaluate staff capacity across your business. Use previous years and current year sales forecasts as a yardstick.
Source and fill gaps early on if required and put backups in place should people have to take time off as holiday requests will certainly go up during this time of the year.
Plan ahead for marketing
Rather than leaving this to the last minute and then ending up with marketing materials that have not been properly thought out, which could lead to low conversions.
Give yourself more than enough time to get all your marketing materials in place. Create a marketing library, so you have ready-made templates to go for the following year. It also helps to specify your marketing budget and plan as early as possible. Timing is everything at Christmas to ensure you don’t overload the customer with marketing content.
Monitor stock levels
If you don’t have an item in stock, the shopper will go find it elsewhere. No business wants lost earnings, so keeping a keen eye on stock levels across and planning for contingency, is advised. Ensure your website, and menus reflect your current delivery capacity, as the last thing you want is unhappy customers.
If stock is running low ensure everyone in the team is aware of the suppliers to call to re-supply stock. Plan early and monitor week on week.
- Cash is king, invoice early and apply for funding early should you need it.
- Hire temp staff early and plan for time off.
- Plan for marketing, not leave it till the last minute.
- Monitor stock, get suppliers onboard, and have backups in place.
Should you need funding, you can simply apply for funding in the app and our broker partner Business Score will be able to find a fair, fast and simple finance option for your business.
Useful dates for your diary:
Black Friday – Friday 25th November 2022
Cyber Monday – Monday 28th November 2022
Also, keep an eye on the Royal Mail website for the last postage dates
Boxing Day Sales – Saturday 26th December
New Year’s Day – Friday 1st January
Don’t be on the naughty list, get Christmas ready.