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How to Grab the Holiday Season Opportunities

We’re reaching the end-of-year slump, but December offers many opportunities for alert entrepreneurs.

Ed Hatton

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You will all have experienced it – the dreaded November slowdown, with many anticipating the year-end holidays before South Africa shuts down sometime in December. Entrepreneurs complain that it’s impossible to sell at this time of the year. Many can’t wait for the start of the holidays.

How much are you contributing to this business slowdown? Are you demotivated by decisions being deferred to next year?

Have you gone into pre-holiday slowdown mode, and repeated that this is an impossible time of year for marketing or sales? If you have then you are part of the problem, and this is a self-inflicted limitation on doing business.

Can you really afford to have one quarter of the year, from the beginning of November to the end of January, as a time of minimal sales?

Is it really true that nobody buys at this time of the year? The truth is there is an enormous volume of business available at this time, but it will not come to you if you ignore the opportunity.

Related: 5 Ways to Dazzle and Delight Your Customers This Holiday Season

Finding opportunities

There is an old saying that ‘everything comes to him (or her) who hustles while they wait.’

Many successful entrepreneurs have had great successes during the slowdown by catching competitors napping in preparation for the holiday, or being the only bidder for profitable business.

Tenders are published now to limit the number of bidders – and alert entrepreneurs take advantage. To get a slice of the millions spent in the next couple of months you must be alert, work hard and look for opportunities. You should also plan and execute an assertive sales campaign.

Rid yourself of the idea that there is no business to be had. Get into the right frame of mind and take this golden opportunity to gain on your competitors. Look for businesses like yours which have spare time and can talk to you. Match you products to the needs of potential customers at this time of the year.

For instance, if you have a product or service which will quickly give an immediate boost in productivity you should go after jobbing manufacturers and construction companies rushing to get orders out before the holidays.

If you have products that need a lot of review and planning to implement, approach companies who are not busy at this time of the year and can afford to absorb a new concept now, when this could be impossible later in the year when they are frantically busy.

If you cannot think of any specific advantage then sharpen up your selling technique and work ethic; sell real benefits to address known needs, talk to many people. You will be surprised how receptive many people are to new ideas at this time of the year.

Incentivise selling

Having decided on your target markets, set goals for customer and prospect calls, provide incentives for business won against competitors. Incentivise yourself as well – promise yourself something you have always wanted, like a balloon safari or a special family event if you meet targets. Monitor calls enthusiastically, celebrate sales to build excitement, give frequent praise and reward, don’t dwell on failure.

Make a special point of visiting customers

Many business people use this time of the year to think strategically and develop their own plans; take this significant opportunity to be part of their planning.

Do the same with customers of your competitors. Arriving brimming with confidence and ideas will often contrast with careless service and poor communication so often given at this time of the year. It feels so good to celebrate the holidays having displaced a competitor in a major account.

Finally, make a point of doing your own strategic planning. Look for products and services to improve your sales and marketing in the coming year, and take time to investigate different offerings. You should be both the buyer and the seller during this valuable time.

Related: The 4 Things Every Customer Wants

Ed Hatton is the owner of The Marketing Director and has consulted to and mentored SMBs in strategy, marketing and sales for almost 20 years. He co-authored an entrepreneurship textbook and is passionate about helping entrepreneurs to succeed.

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How Netflix Is Now Disrupting The Film Industry By Embracing Short-Term Chaos

One wrong move and Netflix could have been nothing more than a footnote in the history of entertainment. But by staying ahead of the curve and embracing disruption, the company is threatening some very entrenched competitors.

GG van Rooyen

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Attendees of the annual Cannes Film Festival are typically not afraid to be vocal in their dislike of a new film — booing and hissing are both surprisingly common — but the recent film Okja possibly set some sort of record. The crowd was booing and jeering before the film had even properly begun. In fact, all it took was the name of the studio behind the film: Netflix.

Why the animosity? Netflix is disrupting the film industry, and the traditionalists aren’t happy. After debuting at Cannes, Okja wasn’t released in cinemas. No, instead it was released right to Netflix, free to stream as long as you have an account.

Of course, few would have guessed a few years ago that Netflix would ever get into the business of making its own television shows and movies. According to industry lore, entrepreneur Reed Hastings launched Netflix because he was annoyed with the exorbitant late fees of video/DVD store Blockbuster.

Instead of having to return a movie once you’ve watched it, he conceived of a business that would ship DVDs right to your door through the mail.

Related: Meet The 40 Richest Self-Made Entrepreneurs On Earth

It was a clever idea, but not one that seemed terribly disruptive. The whole process could be a bit of a hassle, and it required you to schedule your entertainment well ahead of time. Blockbuster even had a chance to buy Netflix, but decided that it wasn’t worth it.

The rise of streaming

Even as Netflix was hitting its stride in the early-2000s, the tide was already turning. It was becoming increasingly clear that the Internet was going to be an incredibly disruptive force, but many companies failed to notice. Or, if they did notice, they failed to take adequate action.

By 2007, the potential of streaming TV shows, films, music and books online was clear, but the DVD business was still doing well. However, Netflix decided to prepare for the future (and disrupt its own operations) by launching a streaming service. It did this by going to the traditional movie studios and television networks, and asking to licence their old content.

In the view of these studios and networks, old pieces of entertainment had run their course, so they were pleased with the new revenue stream.

This brings us back to Okja. Netflix has been creating its own content for the last few years because it realised that studios and networks would eventually catch on. At some point, they would understand that they were giving Netflix the ammunition needed to disrupt the industry. Why have Netflix stream your content if you could create your own streaming service?

“The goal is to become HBO faster than HBO can become us,” Hastings said of one of the most popular American cable channels back in 2013.

In a mere 20 years, Netflix has gone from a low-tech operation that sends DVDs through the mail to one that not only streams content online, but is also producing its own content — content from some of the most respected actors, producers and directors in the world. All of this is costing Netflix hundreds of millions of dollars, and it remains to be seen if this strategy will ultimately pay off, but betting against Netflix is risky.

Related: How To Make Money Investing, According To Ashton Kutcher

Netflix has shown itself to be uniquely capable in drastically shifting its business model. Here is how Hastings explains it: “Short-term optimisation about being efficient is the death of long-term success and innovation. Building Netflix, we created a company that tolerated some short-term chaos, and we manage right at the edge of chaos. The value of that is keeping and stimulating the amazing thinkers, so when the market shifts, like DVD to streaming, or licence to original content, we have in Netflix all kinds of original thinkers, and that is the long-term optimisation that all of us in organisations want.”

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SME Leaders: How You Can Manage Growth

Fresh growth is all around us this Spring – find out how you can powerfully manage growth as you provide leadership to your SME.

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In the transition from start-up to scale-up, a critical factor for a growing business is the quality and strength of its leadership team.

Learning to trust and empower staff is a crucial step for SME leaders who wants to grow their business upwards.

As a business grows, one of the biggest challenges for the business founder and leader is the hand-over of an idea from the founder to the people who work there, The brand moves from being one person’s idea to being the professional focus of a whole group of people.

Without effective leadership, small businesses will be held back, more than three-quarters of SMEs provide no leadership development for their staff. What does this mean for you?

Related: We Went up Against A Highly Regulated, Entrenched Industry. Here Are 4 Tips For Getting Your Foot In The Door

If you lead your business with vision and clarity, you set yourself apart from your competition. Here’s how.

Lead the pack

A growing business creates more work than a leader can handle alone.

As the team grows, founders often react by micromanaging the details of their business. In trying to take on everyone else’s job, the founder often leaves the most critical position vacant: strategist and vision-setting.

Learn to trust and empower others in the organisation and you will find you have room to innovate, which is critical for business growth.

Related: What I Learned About Dating That Will Transform Any Business

Steady the ship

An effective leader will also engage others in the business to embrace and adapt to change as growth continues.

  1. Vision: First, plot the course for where the business should go in the short term, and the long term.
  2. Change: Understand what needs to be put in place to grow the business. You might need to source better business operating systems to streamline this growth, or change a few internal business processes, or rethink how you calculate your hourly rates.
  3. People: Growth equals change, and change equals pain, so if you want growth, budget for pain. Understand that you will need to guide and coach the staff into changing their mindset and adapting to these growth changes.

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We Went up Against A Highly Regulated, Entrenched Industry. Here Are 4 Tips For Getting Your Foot In The Door

Focus on creating value, not disruption.

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Multibillion-dollar legacy industries don’t make it easy for entrepreneurs to step in and create value. There are huge barriers to entry – licensing, pricing, regulations, and cultural/brand significance – that come with being around for a century or more.

However, those barriers shouldn’t stop you from innovating.

Take the utility sector for example, which is perhaps most frightening of all: A trillion-dollar taxpayer subsidized network of poles and wires set up through franchised municipal monopolies. Otherwise known as, our power and energy industry. It’s a mouthful of protection, and as a result, utilities make for a great investment (just ask Warren Buffet), since the likelihood of disruption is tough to even think about. To most reasonable entrepreneurs, the regulated utility sector, similar to the financial and healthcare industries, is tantamount to a “NO TRESPASSING” sign.

But, that is exactly what makes the effort so worthwhile. If you can successfully work with or alongside a monolith industry and produce value, instead of being focused on “disruption,” you’ll be able to achieve massive results.

When we first started trying to provide consumers cleaner and better energy options, getting to market proved difficult as we were trying to break into a utility-customer relationship (paying a power bill) that hasn’t really changed for the last half-century. But, with a clear mission in mind and the understanding that we would have to work in unison with utility providers, we were able to start making our mark.

Related: How to Create a Winning Mindset, to Crush the Competition

Here are a few tips for getting your foot in the door:

1Create value, not disruption

There are some industries where the Silicon Valley catchphrase “disruption” falls flat. Some industries just aren’t meant to be disrupted in the way that people in the tech community are used to. Nearly our entire economy depends on the power grid and we couldn’t come in and totally upheave that. When you’re going after a big industry, you first need to provide value to the customer or the provider. 

Show instead of tell that you have a strong customer base and that people need what you’re offering. And build relationships – working together with the big players in the space will get you much faster and better results for your company and your customers.

2Focus on the customer experience

When you’re a startup, you already have the advantage of being years ahead in your digital experience compared to traditional companies in your space. Own that and hone in on it to make it the best customer experience possible. We looked across sectors to bring modern design, UX and data elements to the home energy experience.

Traditional companies aren’t necessarily thinking that way, and you’ll win people over by offering self-service customer tools, easy payment options and notifications they actually understand. Good communication with your customers goes a long way.

3Start small, build toward the vision

A lot of start-ups begin with very lofty goals – disrupting whole industries and changing the entire way a process is done. We certainly had a broad vision to be the trusted home energy advisor for everything from solar to batteries. But, you’ll never be able to achieve anything if you try to tackle everything all at once in a highly regulated and old-fashioned industry. Instead, to get started, focus on one thing.

For us, it was offering clean energy via renewable energy certificates (REC). By starting small, you’ll be able to learn about and understand the space you’re going into, and will be able to see if there’s a market for what you’re offering. As you learn, you can slowly expand step by step and tackle more complex products in the industry.

Related: Why Flame-Grilled Chicken Franchise Galito’s Opened Up Shop Right Next To The Competition

4Use best practices from other innovative industries.

No industry has a monopoly on good ideas, and the boom in direct-to-consumer brands across apparel, food, finance and healthcare provides a great roadmap for how to build a modern customer experience. Look to other industries that have been there and done it. For example, Mint.com has created an innovation through the consumer interface – in their case to manage finances – while leaving the existing banking and credit card infrastructure in place.

While the thought of breaking into an established industry is definitely intimidating, in today’s entrepreneurial environment it is definitely possible and innovation is desperately needed. Success depends on the ability to shed your typical idea of disruption, and stay patient and persistent.

This article was originally posted here on Entrepreneur.com.

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