As summer is “off-peak” for many businesses, it couldn’t be a better time to engage in some business building activities. If business is slow, don’t fret! Use this time wisely to gear up for the fall rush. Change your mindset and look at the slow summer time as an opportunity to reinvest in your business. If you have funds set aside for slow periods, good for you. If not, then all you have on your side now is time. This may be the perfect time to do some of the business-building activities that you never have the time to do when you are too busy working in the business. This may also be a golden opportunity for professional development, reflection, and brainstorming.

If time is on your side this summer, here are some ways to reinvest in your business. They will stimulate and rejuvenate your business. Come fall, you will be ready to prosper and succeed with a new and improved business.

1. Audit Your Business – Do you have adequate insurance in place? Is your client contract in need of some revamping? Are there any policies or procedures that need tweaking? This is a great time to examine your business to see if there are any areas that need improving and get to work on them.
2. Get Out and Network – When business owners are crazy busy with work, they often do not make the time to network and feed the funnel. Summer is a great time to attend live networking events with chambers of commerce, business networking groups, and the like. Be visible, so when the money starts flowing again, your business will be top of mind.
3. Sharpen Your Skills – We all know how important professional development is to success, but many entrepreneurs short change their professional development when business is booming. If time is abundant, attend a conference, or take a teleclass or webinar. There is a plethora of offerings available in every price range nowadays. This may be the time to get certified in your area of expertise, take continuing education courses, or just explore some educational options that would be beneficial to you and your business.
4. Develop a New Product, Program, or Service – If you have been itching to add on a new product, program, or service, develop and test it now. When business picks up again, your new offering will be in place and ready to go.
5. Keep Advertising – The first thing most business owners do when cash flow takes a nosedive is to stop advertising. Don’t jump on the bandwagon. Why? Because if all the other business owners are pulling ads, you will be the last one standing. If a prospect is looking for what you have to offer, they will find you. There will be less competition and clutter for a prospect to sift through.
6. Get Testimonials From Clients – We all know how powerful testimonials can be, but when many business owners get busy, they forget to ask. Do it now, while you have the time. Then put those testimonials to good use on your website and in business marketing materials.
7. Incorporate Your Business – If you have toyed with the idea of incorporating or becoming an LLC, now is a great time to do so. You will be able to research which business entity makes the most sense, work with a business coach or attorney, and file the necessary paperwork. Come fall, you will have all of your ducks in order.
8. Update Your Marketing Materials – Have you been eager to create a new logo, redesign your website, or get new professional photographs taken? The time for this could not be better. Approach professionals that can assist you with these projects. You may be pleasantly surprised at the rates you can secure.
9. Hire an Employee or Try Out an Independent Contractor – If you have been grappling with the idea of hiring an employee or independent contractor for a while, now is an ideal time. Take the time to interview properly and try someone out before you get so busy again that it becomes a distant and fleeting thought.
10. Familiarize Yourself with Tax Deductions – Perhaps you never took the time to really learn which tax deductions can be taken. Even if you have an accountant, a basic understanding of what deductions you can take will help you track expenses better throughout the year. Take the time to learn how to maximize business deductions and keep more money in your pocket when business starts booming again.

Copyright © 2011 Lisa Montanaro of LM Organizing Solutions, LLC.

Want to Use This Article in Your E-zine or Website?

You can, as long as you use this complete statement:

Copyright 2011. Lisa Montanaro, “The Solutions Expert,” is Principal of LM Organizing Solutions, LLC, a professional services firm created in 2002 that offers professional organizing, business and life coaching, and motivational speaking to individuals and organizations. Lisa publishes the monthly “DECIDE® to be Organized” e-zine for the general public, and “Next Level Business Success” e-zine for professional organizers and entrepreneurs. Subscribe today at www.LMOrganizingSolutions.com.  Lisa also publishes the DECIDE® to be Organized blog at www.DecideToBeOrganized.com. Through LMOS, Lisa helps people deal with the issues that block personal and professional change and growth. To explore how LMOS can improve your home or work environment, or help take your business to the next level, contact Lisa at (845) 988-0183 or by e-mail at Lisa@LMOrganizingSolutions.com.