Time to squeeze in a little planning
So who has time to think about next year?
Whichever holiday you celebrate, there are gifts to buy, wrap and hide in the closet; parties to attend and maybe host - perhaps including a simple, catered company luncheon; offices, reception areas, trees, porches and yards to decorate.
If you're in retail, you're likely busier than the rest of us put together: Getting things done now - today, before you even think about locking up and going home - takes priority over planning next year's marketplace strategy.
Okay. As important as it can be to make even rudimentary plans, retailers (and any others) who are busy making their financial nut are excused from thinking about next year this year.
But whenever you look ahead to 2018, there's one thought that shouldn't go away: Whatever you sell - seasonal bouquets; not-a-cobweb-in-sight housecleaning services or consulting that actually helps a small business increase profits - someone must want to buy for you to be able to sell.
That means you must know who actually buys (or should buy) your part-time CFO support, IT counseling that helps business owners determine which e-devices will make their businesses more efficient or coaching that helps overcome the shyness hindering your face-to-face sales approach.
More simply, the concept and practicality of your service needs to blend with insightful advertising and marketing so what you're selling appeals to your customers.
Some thoughts:
• Start with the numbers.
Check with your accountant. Part of the planning process is to know how your business has done so far this year, beyond the amount of dollars in the company checkbook. Knowing even preliminary 2017 results will provide a basis for considering your 2018 ideas.
• Share the planning burden. Get your most trusted senior people involved. They'll have ideas. Talk to your advisory board. If the business is just you, talk with your spouse - or have a longer conversation with your accountant.
• Know who actually buys what you're selling. Whether you're selling to consumers or business-to-business, the someone who says, "Yes, we need that" may be different from the individual you expect.
Chances are there's been turnover in your customer base. If you know who's buying, you'll be better able to find others like them - a key step in turning prospects into customers.
• Know the best way to reach your customers and prospects. For some, web advertising will be best; for other demographics, more traditional print or broadcast initiatives may work well.
An easy-to-find and navigate website that delivers your message in seconds is critical.
Regularly scheduled emails can be effective - less costly than traditional mailings and, with out-of-the-box graphics and focused content, effective in grabbing attention and delivering your message.
E-newsletters and coupons work. Video may work better, however.
Do your buyers attend trade shows? Maybe you should, too. A sponsor role of high-profile community events may be the best bet.
After all, you're seeking a Happy New Year.
• © 2017 Kendall Communications Inc. Follow Jim Kendall on LinkedIn and Twitter. Write him at Jim@kendallcom.com. Read Jim's Business Owners' Blog at www.kendallcom.com.