Weathering the winter months
Groundhog day is a weather forecasting tradition that takes make every year on February 2nd. On that day, people across the country eagerly watch to see if the groundhog will come out of its hole and see its shadow. If he does, it means the early arrival of spring. If not, it means there will be six more weeks of winter weather ahead. Weather and routine are two key elements associated with Groundhog Day that can also be associated with your business. The early winter months after the holidays are often slow ones for business owners. It's easy to get bogged down in the same old routine. This can lead to missed opportunities and profit losses. As spring draws near, different industries will pick up, and it's a great opportunity to break out of the rut to get a much-need refresh. Here are some tips we’ve gathered on how to avoid getting stuck in a Groundhog Day cycle.
Let go of control as you grow
Business leaders too often try to do everything themselves. You may be missing opportunities because you’re too busy to take advantage of them. For your business to grow, you have to let some things go. Figure out what daily activities bring the least value to your business, and delegate them. Bring in part-time employees or outsource if needed. Then figure out what daily activities best use your particular skills and focus on those.
Avoid getting caught up in the weeds
It's important to take time away from the day-to-day hustle. At least once a week, take a step back and look at the big picture of how your business is progressing. Assess your business’s strengths and weaknesses, along with those of your competitors.
Run lean during down periods
If business drops during the winter months, try to cut your staffing expenses. This is often the biggest line item on a company's balance sheet. Figure out what you can scale back now; you can always ramp up during busier periods.
Plan your warm-weather marketing
For some industries, warmer weather means hotter profits. Plan ahead and leverage the change of seasons to market your product better or gain new customers through a new ad campaign. Be aware of events that bring tourists to your area and look into business partnerships or event sponsorships.
Technology is changing so fast that you could miss out if you don’t stay ahead. Old technology or a lack of it can put your business at a huge disadvantage. Get expert help by taking a class or hiring an IT consultant and learn how to take advantage of all the technology features you’re currently using in your business.
Want to learn more about what to expect this winter? Join us for AccuWeather's Groundhog Day: Winter Update Webinar. Our lead U.S. Long-Range Forecaster, Paul Pastelok, will share his updated winter forecast with a spring forecast preview. Plus, AccuWeather For Business Expert Paul Drewniak will give you a sneak peek into spring’s severe weather season and discuss the unique challenges businesses face before, during, and after severe weather impacts your area.