Bank Holidays create a massive divide amongst business owners.
Some are extremely busy on bank holidays and enjoy a day where their profits skyrocket and new customers buy from their business…
For others, the best business decision is to just close their doors. Perhaps that’s because of the industry they are in, or because it fits the work pattern of their clients and customers.
The Importance For Bank Holidays Even If Your Business Is Closed
Small business owners are beginning to see the importance of bank holidays – even if they are closed.
They are seeing that bank holidays are precious and a great opportunity to progress and develop in other areas of their business.
Below we’ve listed 5 ways to ensure that your bank holiday isn’t wasted time:
1. Manage your Finances
This is an important part of running a business that is often put to the side. When you’re busy performing a multitude of tasks as a business owner, it can be incredibly easy to forget about managing your finances.
Spending the bank holiday in the sun to get a better overview of your financials is a great idea. Or you could spend that time seeking options for outsourcing this work to an accountant or bookkeeper.
2. Reduce Your Expenses
On a day where there will be minimal outgoings for your business, spend the day looking at the expenses that you normally make on a day to day basis.
Lots of small changes to your expenditure can add up and make a big difference to your recurring monthly balance and will be well worth your time while your business is closed.
3. Keep In Touch With Your Customers
Although your business may be closed, your customers still live their lives.
Communicating with your customers in the times when your business is normally quiet can greatly affect their perception of you all year round.
Spend the bank holiday promoting your product or service with a special offer to show your customers that your business is open again.
Promotional messages like ‘We’re open again!’ are better than, ‘We were closed for a day.’
4. Get To Know Business Owners You Admire
There will undoubtedly be businesses in your local area that you look up to and admire. Perhaps you love what they offer, or the way that they present themselves.
Spend some time on the bank holiday to reach out to these businesses and see whether there are any opportunities for you to work together, or just meet up and talk about your businesses and what you can learn from one another.
5. Strategize Your Growth
Knowing where your business is heading is always a great way to create an efficient and focused outlook as a business owner.
A day when your business is closed could present a great opportunity to do some forward thinking and really strategise how your business can grow over the coming weeks and months.
Really take a look at your business model and set targets of where you want to be in 12 months time and then strive to hit those targets when you reopen again.
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