If your business has seasonal peaks, how do you balance out the valleys?
I'm curious how business owners that have seasonal peaks built into their business adapt to times between the peaks. What strategies have you been using? Have those strategies been working?
The skip tracing industry I have found to be pretty seasonal. My solution for this was to create another industry related product. I created an online skip tracing course and started promoting it. I have found that the industry tends to go through cycles. At times clients want to outsource then all of a sudden they want to try to do the work internally.
Either way I now have a solution, when they want to outsource they can come to me, if they want to do the work themselves they can come to me for training. And it doesn't stop there. Even if they do the work internally I have found they still want to outsource. Because I helped them with training and saved them money, it built trust and they come to me for advice and assistance with other areas of their business.
I have found the same with the data sales industry. There are peaks where a lot of companies want to buy data to help with marketing. To keep busy I worked out it was best to also offer the marketing services. So if they wanted to buy data they can however they could also hire our call center to make the calls or do the bulk mail runs.
As a result more clients and no peaks. Finding out why there are peaks and valleys can help you close the gap. In my case it was a matter of creating new products or offering more services.
As I have said a number of times in my posts, it came down to R&D. A little R&D can go a long way.