August has arrived and it can be a slow month for some businesses, as everyone is enjoying summer or taking time out for holidays with family. But this is a perfect chance for small business owners to focus on some important aspects of their business.
In this blog post from OxLEP Business, we will look into five ways entrepreneurs and business owners can use August to help better their business and take advantage of this time of the year.
1. Digitalise your business operations!
Use this period to see how you can make tech work for you! With the advancement of technology, businesses must adapt and be ahead of the game.
Start by digitising processes like accounting, invoicing, payroll, and other business operations that can be done online. This will help save time and money in the long run. Make sure you do your research and find the best online tools or software that fit your business needs.
2. Create and plan for the next quarter
August is the perfect time to create and plan for the next quarter. This will help you stay organised and focused on a game plan or strategy moving forward.
Make a comprehensive plan that includes business goals, target market, product development, and marketing and promotion plans.
This will help ensure that your business achieves the growth you are aiming for!
3. Network with potential partners
Networking events are a great way to meet potential partners who can help grow your business. Research local business support events and webinars, and use this time to expand your knowledge and learn from others!
Attend peer groups, meetups and networking events happening in your area. Leverage your presence on social media and strategically reach out to people who are in the same industry as you are.
Make sure to interact with them and get to know them to find out how you can collaborate to achieve mutual benefits.
4. Upskill your staff
It's important to keep staff motivated and knowledgeable, and August is the perfect time to do this.
Upskill your staff with training that fosters the growth of individuals in your team and the overall progress of your company.
This will help you work towards achieving your business goals with more capacity, advanced skills and knowledge, and boost motivation heading into September!
5. Take a break and recharge
Lastly, don’t forget to take a break and recharge. You’ve been working hard all year round, and it’s important to take time off for yourself and your family.
Time away from your business can be just as important as time spent on your business. Taking a break will help you come back recharged and energised to tackle new challenges and think about solutions with a refreshed perspective!
August is a great time for small business owners to focus on improving their business and staying ahead of the curve. Use this month as an opportunity to digitise business operations, create a plan for the next quarter, network with potential partners, upskill your staff, and take a break.
The key to success is making the most of your time, and August can be an excellent time to do so. So, keep these tips in mind, work hard, enjoy your summer, and have a productive time ahead!