5 TIPS TO KEEP MOMENTUM IN YOUR MICROBUSINESS DURING THE HOLIDAYS
Written by Laura Prather on December 20, 2017
The holidays are an interesting time for the self-employed and microbusiness owners. For most of us, we do not have employees – or at least only one or two. This usually means there is greater flexibility in the operation of our business. In particular, those that work from home have the greatest options for choosing when we work….and when we decide to take a “little time off”. It is easy to lose our momentum if we are not paying attention.
During the holidays and over the summer, it is especially tempting to hang our professional hats for a few days and enjoy fun with the family, or decorating and preparing meals for guests.
It is also easy to assume that it is no big deal to slow down in our work over Christmas and the New Year because the assumption is everyone else is also preoccupied with seasonal festivities.
Let me encourage you to resist the urge to think that your microbusiness – during the holidays – slows down or should sit on the back burner.
On the contrary, the holidays should be a time for microbusiness owners to dig in and work extra hard while others are kicking up their feet and taking it easy. Taking a break during Christmas and New Year just makes it that much harder to get started again in January. Lost momentum is hard to regain. So, while others are taking a mental vacation in December and the first part of January, seize on that time to catapult your business to a new level.
LOST MOMENTUM IS HARD TO REGAIN
Here are a few ideas of how to dig in your heels during the holidays that will set you up for massive momentum in the New Year:
5 ACTION TIPS FOR YOUR MICROBUSINESS:
- BUILD YOUR VISION: Review your year and make plans and goals for the next year. Solidify your vision and complete your goal setting BEFORE January 1.
- CREATE MOMENTUM VS. STARTING OVER: I think most of us have the subconscious idea that the new year is a NEW beginning. Last year I realized that I was tired of starting over mentally come January 1 of every year. Instead, the end of the year is the perfect time to add momentum from the previous year INTO to the new year. [READ: Momentum vs Reset]
- PURSUE NEW CLIENTS: Just because it is December doesn’t’ mean you shouldn’t be growing your business! Run inexpensive Facebook ads to a new demographic, ask for referrals, call up people you met earlier in the year. Do anything to expose yourself to new potential clients, customers, followers.
- CULTIVATE EXISTING CLIENTS/CUSTOMERS: There will always be transition and turnover of our clients and customers. However, don’t assume that a business relationship is dead. The holiday season is a perfect time to breath fresh life into your existing client base. Whether it is a HAND-WRITTEN note, card, or a gift – or sending out an awesome discount to your top customers (to be used in the new year). Remind them you are thinking about them and value the ongoing relationship you have. If you have one-on-one clients, you can even offer to take some of them out to coffee, not necessarily to “talk shop”, but to just enjoy their company. Think of it as sowing into the future.
- STUDY YOUR NUMBERS: Tax season is about to consume your time and thoughts. Start early to gather your financials and especially spend time on your Cash Flow Statement. Look for anything that needs to be changed to increase your margins and to stop any unnecessary “leaks”. Enter into the tax season calm and well on your way to being prepared – not panicked and frazzled!
By all means, enjoy your holidays with your friends and family! But don’t check out.
In a month, you will be SO glad that you invested extra energy into pushing you forward for a strong start in the new year. (By the way, if you need help learning how to create, use, and understand a cash flow statement, contact me here and we’ll schedule a coaching session. It will be WELL WORTH IT!! In my opinion, a cash flow statement is THE best tool you can use in your business.)
Merry Christmas, my friends, and Happy New Year!