It's tempting to handle slower seasons as a time for the business to shift into neutral. Employers and employees might be thinking it's a time for workers to rest up after a very busy time for your business. Everyone needs and deserves rest and a certain amount makes sense. I believe, however, that any protracted amount of time spent aimlessly tends to lead to lethargy. Employees tend to waste colossal amounts of time because they don’t have clear direction during slower months. In fact, the two to four months that rental businesses are considerably slower (than the remaining months of the year) should be spent much more wisely.
Keep employees busy and productive. Don’t let it become acceptable to waste time even though it's a slower business season. Once employees develop a habit of wasting time they can become sloppy and their follow through might diminish as well. Also, it's much more difficult to get them geared up again when the busy season approaches.
Investigate and implement enhanced preventive maintenance processes and procedures. There might be certain special preventive maintenance procedures that could be implemented that would reduce the chances of breakdowns and make the busy season more productive. Consider using the services of an experienced rental business consultant for analysis and recommendations.
Slower months can also be utilized to investigate and implement technology improvements. Even if you are satisfied with your rental software, there are plenty of other technological opportunities that might help your company tremendously.
Also, even if you have had a successful year, this would be an excellent time to investigate the opportunities for increasing your marketing effort. Most marketing requires time for the full effects to become evident. So, making wise changes during your slower times will bear fruit when your next busy season is beginning.
The slow season should also be used to consider the really big-picture questions, which are very challenging for a rental business decision maker to investigate during the busiest times of the year. These questions might include:
- Should we expand our equipment offerings?
- Should we contract a bit and perhaps delete one or more of the services we have been offering in the past?
- Are we ready to start the process of opening another location?
- Should we do a major restructuring of our current facility?
There are many more possibilities as well.
Here are a few other key points to consider:
- In addition to developing a plan for the upcoming busy season, it's also wise to develop a written plan for the slower months. A trained rental business consultant can assist in identifying the priorities and with the planning process.
- Management and supervisors should be trained in professional goal setting and implementation techniques. Getting everyone involved will help to ensure a successful outcome.
- Be sure to delegate where appropriate. One can’t spearhead all that can and should be done. Remember, some key staff members might be eager for the challenge and responsibility.
Even though investing resources going into a slower season is a tough decision, making prudent changes now can help to make your successful rental company into a super-successful one in the near future.
