RIDING THE WAVES: HOW TO PLAN FOR SEASONAL UPS AND DOWNS IN YOUR NORTHERN BUSINESS

SMALL towns often feel the sting of seasonal changes more than big cities, especially if you're in a place like NORTHERN Canada where the weather can flip-flop faster than a politician during election season. Maybe you're in a spot that relies heavily on WINTER tourism, or perhaps THE NORTHERN LIGHTS are your bread and butter. Either way, when your peak season ends, it can feel like someone turned off the tap. Sound familiar? If you're a NORTHERN business owner, you're probably nodding your head right now. These fluctuations aren't just a minor inconvenience – they can make or break a business. But here's the thing: with the right approach, you can turn these challenges into opportunities.

Mix It Up: Diversify Your Offerings

Offering different products or services throughout the year can be a game-changer. It's like having multiple baskets for your eggs - if one isn't doing so hot, the others can pick up the slack.

Let's say you run a coffee shop in Tuktoyaktuk that's packed during aurora season but a lot quieter when the northern lights are masked by themidnight sun. What about offering picnic baskets in the summer for Arctic Ocean adventurers? Or maybe you could start a coffee subscription service for locals and tourists who want a taste of your brew year-round. The key is to think creatively about how your skills and resources can be applied in different ways.

Remember, diversifying doesn't mean completely changing your business. It's about finding complementary products or services that can help smooth out those seasonal bumps. Take some time to brainstorm – you might be surprised at what you come up with.

Cash Flow is King: Plan for the Lean Times

When the money's flowing in during peak season, it's tempting to splurge. But trust me, your future self will thank you for putting something away for the quiet months. Think of it as giving yourself a financial safety net.

One way to do this is to create a yearly budget that takes into account your seasonal fluctuations. This is something I teach you how to do in the Northern Business Edge program. During your busy months, aim to save a percentage of your earnings specifically for covering expenses during the slow season. It might mean tightening your belt a bit when things are good, but it'll make life much less stressful when things slow down.

You could also look into flexible payment terms with your suppliers. Maybe they'd be willing to let you pay more during your busy months and less during the quiet ones. Don't be afraid to have these conversations – many suppliers would rather work with you than lose your business altogether.

Downtime is Prep Time: Get Ready for the Rush

When business slows down, it's the perfect time to get ready for when things pick up again. Use slow times like your pre-season training – get things done that you’ll be too busy to do when things are busier, so the work you do now will pay off when you're in the thick of it later.

Use this time to spruce up your space. Maybe give the walls a fresh coat of paint, deep clean those hard-to-reach spots, or rearrange your layout to improve customer flow. You could also use this time to train your staff, teaching them new skills or brushing up on customer service techniques.

It's also a great opportunity to plan your marketing strategies for the upcoming busy season. Develop new promotional materials, plan your social media content, or brainstorm exciting events or sales. By doing this prep work during your quiet time, you'll be able to hit the ground running when things get busy again.

Build Your Tribe: Focus on Community and Marketing

Just because foot traffic is down doesn't mean you should disappear. In fact, the slow season is the perfect time to build and strengthen your relationship with your community and customers.

Get active on social media. Share behind-the-scenes glimpses of your business, tell your story, or offer tips related to your industry. For example, if you run a bakery, you could share easy recipes or baking tips. This keeps you in people's minds and showcases your expertise.

And don't forget about good old-fashioned community involvement, too. Sponsor a local sports team, participate in community events, or host a workshop. These activities may not bring in immediate profit, but they build goodwill and keep your business visible. When the busy season rolls around, people will remember your contributions and be more likely to support you.

Team Up: Collaborate with Complementary Businesses

You know the saying "a rising tide lifts all boats"? Well, it applies to northern businesses too. Look for opportunities to team up with other local businesses, especially ones that have opposite busy seasons to yours.

For instance, if you run a ski equipment rental shop, you could partner with a summer tour guide service. During your slow season, you could refer customers to them, and they could do the same for you when winter comes around. You could even create joint packages or promotions.

These collaborations not only help you tap into new customer bases but also strengthen the overall business community in your town. And when local businesses support each other, the whole town benefits.

Take Care of You: Prioritize Your Well-being

Last but definitely not least, use your downtime to recharge your own batteries. Running a business can be all-consuming, and it's easy to burn out if you're not careful.

Take some time for yourself. Maybe pick up a hobby you've been neglecting, spend quality time with family and friends, or even take a vacation (gasp!). It might feel counterintuitive to step away from your business, but remember – a refreshed, energized you is much better equipped to handle the challenges of entrepreneurship.

Also, consider using this time for personal development. Take an online course to improve your business skills, read books in your industry, or attend a conference. Investing in yourself is investing in your business.

Remember, the ebb and flow of seasonal business is totally normal. It's not about eliminating these fluctuations completely – that's often impossible. Instead, it's about learning to ride the waves with confidence and skill. With these strategies in your toolbox, you'll be better prepared to navigate the seasonal challenges and keep your business thriving all year round. So hang in there, northern entrepreneur – you've got this!