Business is of different types but two of them are well known and practiced. The first is the “seasonal” business while the second is the “unseasonal” ones. For definitive purposes, a seasonal business is a business resulting from the occurrence of a particular event, for example, festive celebrations, weather condition etc with the sole aim of making more profit.
Most people tend to see these seasonal periods as an opportunity to venture into a seasonal business that can move grounds. A token of investment can fill their pockets with reasonably high profit. Of course, that sounds smart! But there’s an imperative need to consider the pros and cons of such tricky business opportunities before investing in it.
In some seasonal businesses, people go ahead to store foods and/or goods without adequate preparation and preservative strategies. Is that even logical?
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I undoubtedly perceive a seasonal business as an opportunity just as you. However, if an opportunity is not carefully analyzed and executed, it becomes a disaster!
A Short Story
Let me share a story of a man who sees the Islamic festival popularly called “Big Sallah” as a laudable business opportunity. He bought ten cows about three months before the festival — smart move! The cows were cheaper at the time. He uncaringly catered for the cows thereby neglecting their basic nutritional requirements so, he overfed them. It was after he lost seven cows that he realized he needed an expert to put him through. He catered for them out of “sheer rawness” and inexperience. There was no adequate drug administration and nutritional plan. He neglected the need for a veterinary doctor. How sad!
Hence, as an inference from the storyline, the man in the story has the golden opportunity, equipped with enough finance but the opportunity turned out to be a loss. Let me clear this, just before you remind me of the cliché, “There is always loss in businesses”. I totally agree with that thought, but some losses can be avoided. In order not to plunge into the deep pit of financial loss, here are some tips for you:
Every Business has its own unique conditions and expertise. The conditions of A are different from that of B. No single business goes smooth, there’s always a rough time. Don’t just rush into what you don’t know. In fact, you don’t just jump into a Google’s self-driving car and expect to use the steering just because you heard it’s a “car”. Dude! Seriously?
Get yourself acquainted with the business atmosphere before you make a move. Meet renowned people that are already in the business. Read books so that you won’t repeat a mistake someone else might have proffered a solution to–in his/her book. Thus, learn, unlearn and relearn.
I see no reason why you’re running when no one is chasing after you. Don’t die and bury yourself in that illusion of a “projected success”. Consider and re-consider what you are about to lay your hands on. Do not take an uncalculated risk. A seasonal business can be tougher than it seems.
Make sure you document every kobo or cent spent and strategy implemented. It’s fine to wait for the “season” to come then, unleash your “big plan”. Give the business all it needs and even beyond while taking records of every transaction and operation. Without adequate book-keeping records, It may be too late for you to realize you will soon be “on your own” after the “season”. Taking records gives you insights on how your seasonal business is doing and how viable and productive your investment was.
You might get it wrong the first time but there’s always another time. Unfortunately, this can still happen after enough mentorship. Be observant enough to know where the mistakes came from and try amending it for future purposes.
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As a culminating statement, it is worthy of note, that a seasonal business is a laudable opportunity to earn more. Who doesn’t want that? But as golden as the opportunity might seem, it might end up being a loss, if an adequate strategy is not executed.