Tony Collins: 'Tis the season to be prepared

Tony Collins.

Not even those of us who live in a permanent state of denial cannot fail to notice that the holiday season is fast approaching, some lucky people are planning for holidays but for a good portion of business owners this is an important period for ensuring their future business success.

The approaching holiday season reminds us of the seasonal nature of many Northland businesses.

It reinforces the importance of understanding and managing your cash flow which is a constant endeavour.

By understanding the seasonal effects on your turnover and costs you can be better placed to manage your cash flow and have sufficient working capital to see you through the slow periods of the year.

If your business is to be closed over the holiday season, how do you make sure that you are still front of mind with your customers? What contingencies have you made to ensure that when you are back to work in the New Year also back are your customers.

Does your marketing strategy, social media activity and communications plan ensure that when you start back in the new season you will already have work on the books?

From a marketing perspective if this is the season you rely on for sales, how do you stand out from your competitors, what is your strategy for special seasonal offers and how will you let your customers know about these.

If there is going to additional demand for your product or service, do you have the capacity to meet this additional demand.

Another piece of the puzzle is your staff.

Have you communicated well in advance with your workers to ensure they are available for work and that your planned staff levels will be sufficient to meet with anticipated increases in demand?

Do you need seasonal workers and are you prepared for their training?

- Tony Collins is the Northland Chamber of Commerce's chief executive.