8 tips to Keep the Business Ball Rolling in Summer

The truth is that your figures (depending on your industry, of course!) will likely show a slowdown throughout the summer. One person can only do so much, especially when a broader social trend is at play. However, there are some things you can do to mitigate the effects of the summer slump on your business. 

1. Account for your accounting

The summer slowdown offers an excellent opportunity to review your company's financial performance and cash flow. Here’s what you can do:
 

• Review financial statements and analyze revenue trends to gauge your financial health.
• Evaluate your cash flow to ensure sufficient liquidity. Identify seasonal patterns and create a cash flow forecast to manage funds effectively.
• Review inventory and consider promotions to free up capital for new products.
• Analyze profit margins, focus on high-income margins and evaluate your expenses to find areas to reduce costs without compromising quality.

 
By assessing your finances now, you can make strategic changes to set your company up for success when activity increases as summer comes to a close. Proactive financial management is vital in both slow and busy seasons.

Contact us today for expert accountancy support. Whether you're a startup or an established organization, our tools and expertise can elevate your business this summer. 
 

2. Plan way ahead for the big goals and tasks.

Any upcoming holidays or events that can impact your business or your audience should be planned well in advance when it comes to content creation and scheduling. Just because your audience may be on holiday doesn’t mean you have to let engagement go down. 

 

• Start early on marketing materials to account for the time needed from idea to publishing before vacations begin. 
• Stick to your regular posting and communication schedules so that your business isn’t forgotten in the summer heat. 
• Use this opportunity to gather feedback, conduct surveys, or ask for reviews to improve your offerings. 

 

From the frivolous (a day-in-the-life summer post) to the crucial (getting your back-to-school promotion just right) posts, this will make a world of difference.


You won't be in a bind if you have the appropriate strategy. 

 

3. Offer seasonal promotions

Embrace the summer spirit and keep customers enticed by offering special promotions tailored to the season

 

• Consider creating limited-time offers, bundles, or exclusive discounts for summer-related products or services. 
• Collaborate with local businesses or organizations to host joint events or cross-promotions. 

 

This not only attracts new customers but also encourages existing ones to remain engaged with your brand during the summer months.

 

4. Empower and incentivize your employees

Your employees play an important role in driving your business's success, so keeping them satisfied and engaged through the summer months is especially important for business to run as usual. 

We suggest: 

 

• Encourage and empower them with clear goals and expectations for productivity.
• Provide flexible scheduling and remote work options to boost morale.
• Recognize their efforts with incentives like team outings or summer bonuses.

 

Engaged and motivated employees will continue to deliver excellent service, ensuring your business thrives even when the heat is on.

 

5. Stay consistent 

Sales may slow down, but you don’t have to. Each industry is affected differently by the seasons. While some businesses, like airlines, rely heavily on summer, others can adjust their strategies.

 

• Consider pulling back on ad spend and focusing on lead generation, nurturing, and planning. 
• Allocate time to update and optimize your assets and plan your publication calendar. 
• Explore new opportunities by pivoting your offerings. For instance, if you sell cold-weather products, run a special promotion for boots or expand your catalogue to include summer hiking gear or sandals.

 

According to social media marketing expert Ali Parmelee, many retailers earn 30% of their annual revenue during the holiday shopping season. Plan for this by gathering leads now and nurturing them in preparation for the busy months ahead.

 

6. Stay on top of vacation requests

With summer being a popular time for vacations, it's important to request time-off forms from your employees as soon as possible, doing this in advance allow you to allocate resources in an effective manner




Early notice allows your payroll department to adjust accounts and allocate funds for paid time off. These small disruptions can have a significant impact on cash flow, so it's essential to have prior knowledge of your team's availability.




Accounting-wise, if your business is slow, it's an opportune time to manage vacation liability and encourage employees to take their vacations.

 

7. Assess staffing needs

Certain businesses may require increased staff to meet customer demand during this time, such as:

 

• Home and garden stores
• Restaurants
• Lawn care services
• Air conditioning service providers
• Pool supply and cleaning services

 

If your business is tied to seasonal demands or if it caters to summer travel trends like hotels and restaurants, it's advisable to consider hiring seasonal staff in advance to handle the expected surge in business during the summer.

Conversely, if your company won’t be needing as many hands on deck throughout the summer, consider encouraging employees to use their time off.