Autumn is often the beginning of a new business year. For the services industry, and particularly for large companies, it is often the period that earns the most money, and when most new contacts are made.
Autumn is also the pre-Christmas season, a period vital for retailers. Retailers will be jostling for position on the start line, positioning themselves to be attractive to buyers. And a long lead in is going to be vital to cope with this recession.
And businesses will have be willing to move very quickly to respond to new opportunities.
It follows, then, that summer has to be the time for all businesses to prepare for full-on business opportunities. Whether it is preparing to recruit staff, develop computer systems, put business plans together, or requisition finance, the quality of the preparation can often be the make or break for a successful Autumn season.
The recession, of course, is going to make things very unpredictable, but those businesses that rise to the challenges will almost certainly break the recession and set themselves up for a productive 2010. Those that don't are likely to become even more disheartened.
With a government dithering about whether and when they should cut their own costs, and thus taxes, it is likely that businesses will have to prepare for the coming season paying heavy attention to costs and savings. Costs will be a necessity, of course, but given how unpredictable the coming season will be for flourishing revenue, every care must be applied. The end of summer is also the time for most businesses when corporation tax is due, which is still rising despite the state of the economy.
Banks, too, will be looking for business, and deals this year should be far better than last year for businesses that can show they will make use of the coming season.
And making use of the season is going to be vital factor. For many, it will be the last. A few will have much to brag about. For most, it will be a case of doing well and getting to the next season, which will be no mean feat.
Creativity will also be on the menu. Businesses will have to be very creative on how they will persuade customers to hand over cash that the customers themselves need.
As with all things business, the competition will have to have a close eye on it. No business, these days, can afford to miss a sale, let alone give it to another business.
Staff will have to rise to the challenges faced by their employers, and rise to the opportunities open to them. Not much room for promotions, this year, but staying in a job, for many, will be the opportunity.
Suppliers will have to forge an all-out effort to help their customers. Ensuring products and services are the best in the marketplace, supply chains are oiled and greased, and useful agreements being in place, are only some of the issues for suppliers to prepare.
Summer is about preparing to reap the autumn harvest. Good luck, and best wishes from us.
contact Chalestra if you want to take advantage of our business consulting services.