Create cash reserve account, plan for slow times
Do you operate a seasonal business and wonder if the uneven revenue stream and stress-filled crunch times are worth all the hassle?
You aren't alone.
Millions of small businesses post the bulk of their annual sales revenues during a short season or cycle.
For many retailers, the holidays are boom times. Fitness centers soar in January and sag with the summer exodus. Some businesses sell more when the weather warms, the tax or wedding season arrives or tourists travel.
Others thrive on cold or times when kids are in school. No matter what type of seasonal business it is, the common thread is that you must succeed in a short time. Issues such as cash flow, burnout and seasonal help are magnified.
To help smooth the bumps, it is important to create a tight budget and stick to it throughout the year. Create a special cash reserve account for use only in leaner months. Set money aside whenever you can. Creating a cash-flow forecast will help you identify patterns and see what you are up against. Include a worst-case plan to anticipate any nasty shocks.
Operating a seasonal business also requires that you plan and use your time more efficiently than other business owners. Some periods might call for only 25-hour workweeks, while others go far beyond that. To make sure everything gets done and avoid burnout, you will need to schedule your time carefully.
Put slower times to good use by using them to update your Web site, catch up on maintenance, strengthen customer relations or write marketing plans. You might want to employ only a small core of permanent workers and use temps or interns to fill in. Consider offering off-season sales or rates, and look for ways to generate revenue in quieter periods.
The slower times might require a cash infusion to bridge the slow time and get through to the next selling cycle. The U.S. Small Business Administration might be able to help.
"CAPlines'' -- seasonal lines of credit -- are SBA-guaranteed short-term loans that help small businesses survive ups and downs in sales because of seasonal changes. To qualify, your business must have established a definite pattern of seasonal activity. You will find complete details and information on these credit lines on the Internet at
| Index of "Ask SCORE" Akron Beacon
Journal Articles
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1 -- Going to the Bank
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2 -- Preparation Key to Marketing Success
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3 -- Leading often is confused with managing
Guide by being visionary, giving support, direction |
4 -- Structure of board determines how things run
Akron SCORE Vice Chairman Gary Sutherland answered this question |
5 -- Contract workers must fit criteria
IRS says they work own hours, call in others to finish tasks |
6 -- Sometimes math gurus make sense
Accountants, bookkeepers, tax specialists can be allies |
7 -- Uniform retailer puts in extra effort
Akron shop owner finds personal touch attracts customers |
8 -- Avoid the pitfalls of family business
Clarify job roles, treat employees equally, find home-work balance to ensure startup's survival |
9 -- Improper pricing is error that can cost
Finding right balance more art than science |
10 -- Keep the clutter out of the office
Organization aids in productivity and profits |
11 -- Cash flow can put business up a creek
Develop ways to keep company running smoothly; basics just common sense for smaller operations |
12 -- Make sure Web site works hard
Business site can be pretty, but it must produce sales |
13 -- Entrepreneurship Extravaganza rocks on
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14 -- You must keep backups
Someday you will regret not protecting your most important files |
15 -- A business makeover can get things moving
Small businesses have an edge over big because they can change more quickly |
16 -- Protect names legally
Getting trademarks, service marks key to business identity |
17 -- Economic forecast is cloudy
Experts cite variables in region |
18 -- PEOs cover ABCs of human resources
Companies take care of hiring, payroll and benefits |
19 -- Billing requires personal touches
Telephone call is 10 times more effective than any mailing |
20 -- It pays to advertise; first find out how
Media representatives can help with the basics |
21 -- Look at equipment lease to help conserve cash
Move also avoids risk of buying what is quickly obsolete |
22 -- Develop a Business Plan Now; Count on Profits Later
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23 -- Talk with workers to get best results
Motivated staff will provide better service |
24 -- Outsider gets IT done
Leave it to experts if you need systems |
25 -- Make your Web site visible
Great content isn't enough. You must make it easy to find |
26 -- Win clients with a knowledgeable staff
Invest in training so employees know customers' needs better than the competition |
27 -- Will a partner help or hurt when building a business?
Don't get one unless she'll complement you, promote success |
28 -- Routine costs can drain a business
Rethinking a few spending habits on `small stuff' can save some cash |
29 -- Keeping good help is tricky
It can be really tough for small businesses |
30 -- Budget can benefit seasonal business
Create cash reserve account, plan for slow times |
31 -- IRS site valuable for small businesses
Advice, information to make you tax smart |
32 -- Cut costs to find success
Paying only what is needed to run your business adds to bottom line. Look at low-margin areas |
33 -- Need customers? Spread the word
Best, and most inexpensive, way small businesses can get customers' attention is by word of mouth |
34 -- Adjust to keep growth going
Marketplace constantly changing, so your plan needs constant review |
35 -- Minimize possibility of employee theft
Set up steps so cash, checks, inventory stay out of wrong hands |
36 -- Crucial to protect invention before filing for patent
Do your homework, but first keep journal on the idea, ask acquaintances to sign nondisclosure form |
37 -- Branding business essential, beneficial
Online, offline combo proves most effective |
38 -- Gizmos, Web services can bring virtual success
Many companies outsource nearly all that they do |
39 -- Cafe serves more than smiles
Mentally disabled staff takes joy in filling diners' plates while learning new skills at Hattie's in Hudson |
40 -- Always review selling habits
Even in good times things can go wrong, so keep up the effort |
41 -- Try these tips when starting business
New ventures succeed more often than not if resources are well-planned |
42 -- Freelancing skills needed for success
Using the Internet, building your personal brand and other tools ensure that you'll find more work |
43 -- Develop personal niche to go far
Reinventing business, targeting unmet needs boosts company profits |
44 -- Boost image by going 'green'
Making small businesses environmentally friendly can be as effortless as choosing products, services |
45 -- Strong start requires funding
Loans are one way to ensure business has key ingredients |
46 -- Speaking skills are lacking
Businesses need to focus on employees' ability to express themselves |
47 -- Updated Web site attracts customers
Seek assistance of writers, designers, researchers to build online presence, keep page looking fresh |
48 -- Businesses embrace online ads
Low-cost advertising tied to search engines helps attract customers |
49 -- SCORE opens offices in Kent and Orrville
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50 -- Ethics training vital in workplace
Nonprofit organizations offer variety of resources to help create a code of conduct for employees |
51 -- Security breaches are costly
Take steps to protect your computers from threats |
52 -- Family deserves to know loan risk
Give relatives a plan, just as you would bank |
53 -- Some easy steps to save computers
Old machines can be fixed up and useful again if you put them through just a few easy routines |
54 -- It's important to start succession planning early
Being unprepared could put the future existence of the business at stake |
55 -- Branding makes its mark on sales
Distinctive color, shape increase recognition |
56 -- Succeed with mix of workers
To achieve balance, employ people with different strengths |
57 -- Know who's always right
Customers' viewpoint essential for success |
58 -- Diverse workers are part of U.S.
Leaders need to learn, respect key differences |
59 -- Quality personal service difficult
Retailers must train, reward the sales staff |
60 -- Follow six steps to achieve goals
Be honest with yourself about what you want from company when looking at long term |
61 -- Businesses need control systems
Establish specific policies, procedures for tasks to be handled by employees on planned basis |
62 -- Stress can damage business
Learning how to manage it will help protect bottom line |
63 -- 'SWOT' analysis aids entrepreneurs
Consider strengths, weaknesses, opportunities, threats so that you can make objective decision |
64 -- Franchise is method of business
Formula might ensure success; learn details |
65 -- Starting a firm? Ask questions first
Decide if you have necessary skills to succeed through personal review, workshops, counseling |
66 -- Incentives don't have to be expensive to do the job
For the optimum response, personalize the reward, matching it to the recipient |
67 -- Three basic ways to organize business
Decide whether sole proprietorship, partnership or corporation will fit needs best |
68 -- Training is the duty of bosses
Educated employees benefit the bottom line |
69 -- Extending credit can be risky
Firm controls, policy in writing are essential |
70 -- Plan for natural, man-made disaster
Being prepared helps small businesses stay viable in difficult times |
71 -- Make it a goal to set, write goals
Put on paper what you want to do, or it will remain a dream |
72 -- Time management essential
Written plan aids in organizing and prioritizing daily tasks, allowing for better flow in business |
73 -- Gift-giving guidelines can help
Showing appreciation to clients takes planning |
74 -- Keep customers satisfied or else
Communication with employees, clients important for service businesses. Quality is your foundation |
75 -- Customers return for good reason
Understand needs, develop relationships |
76 -- Take care in taking on new work
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77 -- Book defines what is 'great'
Being large not enough. Accepting mediocrity often limits potential |
78 -- Consider options before saying no
Refusing business opportunities can close doors |
79 -- Mind your business to fight competition
Keeping up with your foes can make you stronger |
80 -- Records end worrying
Good books make tax time easier |
81 -- Shared vision vital for business partnership to succeed
Formal agreement should be drawn up; compromise, understanding, and learning to adapt also essential |
82 -- Preparation is key when starting a business
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83 -- Look at big piqqcture before cutting costs
Inspect business records, especially profit margins |
84 -- Insure only what is needed
But avoid too many risks; it's often a balancing act |
85 -- Slowdown isn't end of the world
Strong financial management practices can help weather storm, prepare for new opportunities |
86 -- Plan can keep you on track
Outline for growth can be your internal compass |
87 -- Positive attitude is key attribute
It's important to emphasize long-term potential and always keep open lines of communication |
88 -- Keep track of cash flow
Take steps to ensure more money comes in than leaves account |
89 -- Attitude surveys identify problems
Employees often afraid to speak their minds |
90 -- Franchising is cool
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91 -- Option offers big shortcut into business
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92 -- Protect your invention idea by taking notes right away
Prove you were first. Prepare a one-page nondisclosure agreement |
93 -- Recession suppression
Changing a few old habits can lead to increased business profits |
94 -- New challenges, opportunities in wings
Business plan, watching numbers, staff investment are among strategic steps you can take for success |
95 -- Business virtues you can count on
Reliability, honesty and trust are just a few |
96 -- Lead or manage: They're different
Both skills needed to be efficient and effective |
97 -- Personal financing has options, risks
Create a small business plan and know pitfalls |
98 -- Outside financial specialists key to success of business
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99 -- Free workshops for entrepreneurs
Business basics, marketing, leadership among topics |
100 -- Service essential for success
Small business has an edge if it connects with customer |
101 -- How to get paid on time
Small business owner needs payment policy in place to avoid collections |
102 -- Networking helps build your business
Making impression on prospective clients important |
103 -- Bosses often not trained to evaluate employees
Learning the basic concepts helps avoid lawsuits |
104 -- Protect your data. Here are some tips
Even small businesses can take security steps |
105 -- Finding financing difficult
Ads can be misleading; government help slim |
106 -- Good on the job doesn't mean good as a boss
Check these skills, characteristics to see whether you're management material |
107 -- Keep disaster coverage updated
Businesses should make sure insurance will fit current needs |
108 -- If you're the boss, take some time off
Train others to handle the job while you are gone |
109 -- Don't put files at risk
Backing up computer can save your business |
110 -- Business can earn customer loyalty
Make an impression by listening, acting |
111 -- Going green pays off
Businesses save money, protect environment |
112 -- PEOs can ease burden
Companies manage hiring process, benefits |
113 -- Business ethics essential
Keeping all promises, treating people fairly can help define success |
114 -- Research options before ad is placed
Consider demographics of your target audience |
115 -- Insurance can protect businesses run at home
But nearly 60 percent don't have coverage for financial losses |
116 -- Business counselors can provide free advice
Akron SCORE advisers have wide experience to aid in difficult times |
117 -- Uplifting attitude aids marketing, makes sales
Offer clients products and services that can boost efficiency, cut expenses, deliver value |
118 -- A few tweaks can energize a business
Customers' feedback can help with updates |
119 -- How to get funds for business in tough times
Describing problem, solution and result will give you a better chance for grant |
120 -- Leader needs to handle work conflict
Simple steps will help in mediation process |
121 -- Shipping service saves time
Fulfillment company can pack, send products fast for peak efficiency |
122 -- Express gratitude at work
Saying simple thank you generates positive energy |
123 -- Express gratitude at work
Saying simple thank you generates positive energy |
124 -- Leaders are eager to do it right way
Providing motivation is hard part for many aspiring entrepreneurs |
125 -- Internet search engines boost business
Creating key words to describe services can attract customers, help jump-start sales |
126 -- Prepare business for disaster
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127 -- Attend business seminars at no cost
Akron SCORE offering 7 different workshops |
128 -- Excellent income-tax information available at the Internal Revenue Service's Web site
Regulations, advice, tax forms are all found on the Internet. City, county, state and federal agency offering information |
