Holiday Season - Ready, Set, Go
Even though the traditional holiday season starts this week with Thanksgiving, the stores are ready and the commercials on TV have already started.
As a business owner, one of my important business holiday jobs is to refine my business plan for 2011. Even though I regularly update my plan during the year (I analyze it monthly, tweak it quarterly), I like to start the new year with a fresh plan. So November and December are the months that I identify what worked; what didn't work; and what can I finish by year end. In these economically challenging times, here are some end of the year tips to get your plan in order and make the most of this holiday season:
1. Review expenses including inventory and supply levels. If your business is retail and holiday sensitive, make sure you have the right inventory levels so that you finish the year with "just enough".
2. Monitor your Receivables. During the holiday season, other businesses can be distracted by their own vacations, staffing and holiday parties. Don't let them think you can wait for your cash so they can have a more lavish holiday.
3. Remember Your Staff has holiday plans, too. Proactive planning and scheduling for all will make the work load better for everyone.
4. Manage Cash. Cash is king and during the holiday season even if your business is NOT typically affected by the holidays, banks are. Having an emergency fund will always bode well during the holidays and throughout the year.
5. Holiday giving. Know your employees and give what they will value. In economic hard times, scaled back parties have been the norm. Tips are available at Biz Know How - Parties. Whatever you give, be clear if it is tied to merit or a thank you for just being an employee. There is a big difference.
6. Say Thanks. If you don't like to do holiday cards, saying thanks to your customers, vendors and others that have made a difference in your business could be just that - a thank you. Thank you notes are never out of season or out of fashion.
And don't forget to get that plan for 2011 in order before it happens!
Happy Thanksgiving.
Copyright 2010 Linda Fayerweather MBA EA
http://www.changinglanes.biz/
419-897-0528
linda@changinglanes.biz
Business Plans Make Profit!
Saying Thanks to your Staff
Unexpected recognition for a job well done is very, very validating for your people. Whilst you are busy, you are also developing habits that, well, just creep up on you. This means that you do things; behave in a certain way - and now is the time to redress that. If you find there are some of your people you have instant, deep rapport with, it's just human nature to hang out with them more. Respect them and treat them well. Yet you could be missing a trick. And a trick that takes but a little focus to make the most of, this is about specifically targeting those who you don't have an instant relationship.
Make time for those you avoid and engage both in conversation as well as 'catching them doing something right and thanking them. Spending time with these folks might, to start at least, not be your favorite way to spend your time - but you may be surprised. You will also up the stakes in motivating a bunch of people who you've missed out on in the past. So, today, make a very special effort to say 'Thank you' to people you wouldn't normally. It will make a difference, both to them, you and your business.
Copyright 2005-6 Martin Haworth
http://www.coaching-businesses-to-success.com/
