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Summer Small Business Re-evaluation

Guest post by: Kerri Salls

Article Overview: Whether at the beach or on a mountain, I find the summer is a great time to lift my sights to the broader horizon. It’s a great time to regroup solo, or with your team, on what’s working/not working, what the opportunities are and what it will take to get there in the next 12 – 18 months.

Summer Small Business Re-evaluation

Whether at the beach or on a mountain, I find the summer is a great time to lift my sights to the broader horizon. It’s a great time to regroup solo, or with your team, on what’s working/not working, what the opportunities are and what it will take to get there in the next 12 – 18 months.

Summers can offer solo business owners opportunities not usually available in busier times. With either a slower pace or more time off, it might be an occasion to re-evaluate plans made earlier in the year.

Richard Magid, CEO of SoundBoard, a New Jersey company that holds support groups for small business owners said in a statement to Yahoo! News: “You can make changes to your business model, re-evaluate clients, really plan out your budget and some of the investments you want to make.”

“You can get a sense of the good, the bad, and the ugly–what have we planned for that wasn’t done, what have we done that didn’t work,” said Magid.

It can be a good opportunity to discuss and plan out your business objectives and strategy for the rest of the year or longer. It may be a good chance to make decisions on capital investment or resource planning. As advocated by AccountingWEB.com, “Scheduling an appointment with your accountant may be one of your most important to-do items.”

Implementing new hardware or adding software or systems can be done easier in the summer than in a busy time. Repairs to other equipment or performing a necessary renovation may be done easier during this time. Planning for holiday sales or bigger year-end shipments may also be a timely consideration if you sell or ship a majority of products at the end of the year.

The summer is also a good time to take advantage of seminars or tradeshows to check out new products and services as well.

Taking advantage of the seasonal weather is a good opportunity to nurture relationships with employees and customers by finding different ways to show your appreciation outside the office.

Planning time to plan is no small matter. With your vision and a plan, everything else falls into place.

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Article Tags: business retreat, plan, planning, reevalute, solo retreat, summer, vision



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