How Downtime Can Be Full of Opportunity

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spring financial tips

The dog days of summer can be a time for retooling and opportunity.

Although it can be hard trying to keep a business running, there’s still hope for growth.

Take advantage of this downtime by remaining focused on growth.

Take advantage of this downtime by remaining focused on growth.

Here’s a list of tips for small business owners who want to turn downtime into opportunity.

Conduct a mid-year goal review

As you approach the half-way mark for the year, taking stock of your goals will give you a better picture of how the business is doing. Are your goals still attainable? If not, what are the next steps to take?

Refresh the business plan

This doesn’t have to be a lot of work, but it does require some careful consideration. Ask yourself: are you spending time where it’s most important? Are you doing the kind of work that you want to do?

A time for team-building

The summer slowdown also offers the opportunity to talk to employees about their career goals or even train people on new tasks to make the workforce more flexible.

Get social

Summer is a more casual time of year when connecting with new customers, looking for new partnerships, and strengthening relationships is easier. It’s an good time to grow your network, so host that softball tournament and book those patio lunches.

Reward your staff

Summer could be the time to reward your hardworking staff or build a stronger team by taking them out of the workplace to a casual setting – maybe a barbecue.

Get away from it all

Other than declining sales, your number one enemy is the burnout. As a business owner, you are your greatest asset, so take some time off to rest and recharge, so you can return with more energy.

For advice on how to turn downtime into a period of growth, have a chat with Williams and Kunkel, CPA, LLP today at 972-446-1040.

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Source: Business News Network

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