RaiseCapital Blog
by RaiseCapital.com | Posted on July 9, 2008
Most companies and industries experience some slowdown during the months of July and August. Employee vacation time coupled with shorter executive working hours are both the cause and effect of this slowdown. A weak economy and skyrocketing fuel costs promise to make this summer more painful than most. But entrepreneurs and small business owners do not have the luxury or ability to buy into a “slowdown” mentality. Thus, as is often the case, the most creative and determined entrepreneurs turn this negative into a positive. Here are some ways to avoid the “summertime blues”.
1.Work on Infrastructure
The summer is a great time to work on implementing and developing new systems to support your business. Using some downtime to make your business more efficient can result in increased profits during the busier months.
2. Staff Training and Education
Any downtime employees have due to a slowdown should be used for increased training and education. Conducting workshops, seminars and training sessions for employees can help productivity in the future.
3.Interns
Many students who are off in the summer can be hired as interns. Often times they can be hired at under the market prices and in return they receive valuable work experience and the ability to have a more rounded resume after they graduate from college or high school. You can work with a schools student employment office to reach out to students looking for work experience. It is a win/win situation for both employers and employees.
So do not let a summer slowdown get you down. Keep the ship going in the right direction during these months and your will enjoy the benefits come fall and winter.
2 Comment(s)
With such a tough economy, I am surprised so many people are asking for such high start up funds. It makes me question how many people are legit on here, and not here to just rip off private investors. I'm an at home mom with something to work hard for -- my family! I will do whatever it takes to succeed for them. I am looking to start a home-based and on-location children's photography business. As a social mom, I already have tons of customers waiting! My business has a very low start up cost of only $5,000. I want to do everything digitally so that moms can have edited pictures of their kids the same day! Also, a unique feature of my business is shared rights to the photos so that they can have the photos printed themselves wherever they choose. If you are interested in talking, please email me at sugarsnapphoto@gmail.com Thank you for your time and interest.
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I completely agree with your comment. In fact you may find that the summer interns you get will be more loyal than your normal employees. In return for the "sub market salary" that you may be able to offer, you should also offer mentoring and advice. This will create the loyalty that will then give you the option to hire them when they come out of college.