You Survived the Holiday Season as a Business Owner... Now What?
Last-minute Christmas orders. Black Friday. Rushing to get holiday shopping done. Yeah… being a boutique owner during the holiday season isn’t for the faint of heart. The most wonderful time of the year is usually also the busiest time of the year – and the most exhausting!
But hey. Christmas is over. You made it out alive. Maybe you hit a new sales record (if so, congrats!!!) You (hopefully!) managed to take enough of a break to enjoy the holidays instead of just survive them. And loads of people opened gifts from YOUR shop all wrapped underneath the tree. (Seriously, how cool is that?!)
You survived the holiday season as a business owner… Now what?
You almost got used to being so busy you can’t even see straight. Now that the rush is over, what’s the next step for your business?
Let’s ride the momentum of the holiday season into the new year to make this your most successful year yet. Learn what to do after the holiday season as a boutique owner.
This year went great, but you’re always looking ahead to the next big thing. You can’t stop until you achieve your dreams – and once you do, you’ll just find a new one! While you’re still on the high of a successful holiday campaign, set goals for next year that reflect your hopes and dreams for your business.
Think long and hard about what the next steps should be for your boutique. Do you want to set a yearly revenue goal? A goal to reach a certain number of new customers? Are you interested in finally opening your first brick and mortar shop, or expanding your online presence? Do you want to finally hire an employee to help you out with all the zillion things you have on your plate? There’s no wrong answer – make a goal that’s best for your boutique and your idea of success!
Don’t forget to think outside your business as well. What do you want to accomplish as a person? How would you like to spend your time during the new year? What do you want to learn?
Whatever goals you decide on, just make sure you feel truly connected to them and committed to seeing them through.
Looking for more goal-setting advice? Click here to learn how to set and achieve even bigger goals.
Plan for the year
New year, new plans. You know what they say – if you don’t make a plan, you plan to fail. Get out your notebook, open a new Google Sheet, and start mapping out what next year’s going to look like for your online store.
First off, take a long look back at the year before. Identify what went well and what could have gone better. Figure out when your best sales periods were and do your best to identify what drove revenue during those times. Pinpoint any seasons when you felt especially busy, overwhelmed, or unprepared and start thinking about how you can avoid similar situations in the future. Take a look at your business’s expenses and revenue.
Then, look ahead to next year. Make yearly projections based on last year’s results to help you budget – both for your business and your personal finances. After that, map out your calendar. Figure out when you’ll need to order new inventory for each season (keeping fulfillment times in mind), plan out sales throughout the year for steady sales boosts, and see whether there are any time periods when you’ll probably need extra help. Look back on your goals to make sure your plans will help you get there.
It’s impossible to plan for everything – as new challenges or opportunities arise, it’s better to be flexible than to stick to your plan no matter what. But you don’t want to go into everything blind. Take a look at the big picture now and plan accordingly, while things are calmer for a moment.
Start looking for awesome new products
Hopefully, the holiday season cleared you out of just about everything your online store was carrying. Time for a fresh start! Take a look at which pieces were your best-sellers (and most profitable) throughout the year and let that guide you as you look for new inventory for your shop. Look for products that are on-trend, high-quality, and affordable, allowing you to enjoy excellent margins with every purchase. Not sure where to look first? Supplied is a great place to start, with over 100,000+ wholesale boutique items, no MOQs, and up to 75% off wholesale prices.
Enjoy this time
Not to burst your bubble, but the busy season’s gonna be right back before you even know it. Enjoy this slower period while it lasts! Allow yourself to celebrate your accomplishments because you totally deserve to. Sure, you’re not done – you’ve got loads of big moves to make in the future. But celebrating and relaxing will give you the energy to keep right on accomplishing big things. So take a break, close your shop for a week, sleep in a little, do a face mask, draw a bubble bath – whatever it takes to make you feel like you’re awesome and you accomplished something huge. (Because you are and you did!)