What Small Businesses Should Do after the Holiday Season

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It’s time to get back into the groove, but January is also a time to re-evaluate your goals and business operations. Is any equipment breaking down or obsolete? Are you fed up of using a management system that isn’t working for you? We have some ideas to improve and grow your business.

Launch a New Product or Service

January is a month that focuses on regeneration and novelties because people have most likely started practicing their New Year resolutions. This is a fantastic opportunity to add new products or services to your menu. 

If you run a beauty or spa salon that has never featured infrared sauna sessions, this could be a time to start! Infrared rays penetrate deeper into muscles than traditional saunas while providing many of the same benefits, such as better circulation and skin purification. Infrared saunas ease sports injuries, sore muscles, arthritis, and many other conditions. 

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Some chic clothing stores decide to add a tailoring service to their service offerings by partnering with a local company or hiring an in-house tailor. This service can be free with the purchase of a certain amount of store spending or provided at a reduced rate. A service like this can significantly improve customer satisfaction and increase your traffic. 

Lendified’s beauty/spa salon loans and retail loans are the key to expanding your business. You can apply for as much as $150,000 and receive the funds within 48 hours after approval. The loan can help you renovate your workplace to accommodate new services, hire specialty staff, or put the money towards marketing and developing your new product.   

Update Your Software

If you find your software programs aren’t user-friendly or are out of date, it’s time to shop around for something that suits your industry and needs. There is probably a better solution than creating hundreds of Google sheets. Are your finances a bit tight, even after the holiday rush? Lendified can help with a business loan specifically for equipment or your industry. 

Payroll and Human Resources

Miscalculating payroll taxes could result in paying high penalties or lawsuits. To avoid these unpleasant tax problems, use a software program that guarantees compliance with employment regulations and takes a load off of your mind.

RUN by ADP gives your small business payroll functions and HR expertise it’s missing. It’s perfect for the old-fashioned computer user and the millennial who does all of their business via mobile. RUN provides many automatic features to reduce your workload and save you time, from sending W-2 forms to calculating, deducting, and paying your taxes for you. There’s also an HR portal and hotline to assist you with this side of the business.

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POS and Payroll

If you want a complete package, Heartland has made various software programs more intuitive for restaurant businesses. Heartland Restaurant POS includes full connectivity between your operations and is still up and running during a power outage. It’s designed to give your customers every convenience, including skip-the-line ordering and loyalty rewards, while simplifying your tasks. If you like how Heartland works, they also offer payroll and HR software

Construction Management 

Buildertrend has it all: management for projects, finances, customers, every detail a commercial contractor needs to know. It facilitates the pre-sale process while letting you set up schedules and budgets. Buildertrend allows your team to share everything with a cloud-based system to improve your business’ efficiency. 

Hold a Contest

January and February are often months where people get a little blue, so add some pep to your business by hosting a contest. After making a purchase, customers can fill out a raffle ticket with their contact information for a chance to win a gift card to the store, a grand prize, or free services.

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Get Started Today

There are many ways for a small business loan to help you with your business. Our Lendified team has over 100 years to assist you with your loan application. Check out our online guides, or apply now!

About the Author

Lendified

Lendified is Canada's premier online lender for small businesses. The company was founded by former bank executives dedicated to provide businesses with fast, easy, and affordable financing. The Lendified team regularly produces blogs and guides to help small business owners succeed.