How to Protect Against Seasonal Fluctuations in Your Small Business

Running a small business is hard enough without throwing seasonal fluctuations in cash flow into the mix as well. While some may believe that seasonal changes only affect businesses such as Christmas ornament retailers or swimwear shops, the reality is that every small business owner will experience a dip or sudden rise in sales at some point throughout the year.

Whether it’s going without an income for months, or experiencing a sharp influx of sales to the point where you run out of inventory, seasonal fluctuations can cause many overwhelming problems for business owners. Today, we're going to tell you the best ways that you can prepare your company for those unexpected highs and lows.

Have a Clear Plan

Do you already have a business plan in place? While this should cover topics such as your target market, product research, and more, it’s also vital that you think about what would happen in the case of fluctuations, including both an influx or reduction in sales. Study your industry well in order to predict shortfalls or opportunities and prepare for them accordingly.

Track Your Progress

If you’re not keeping on top of sales, market changes, and customer enquiries from the get-go, then fluctuations in cash flow will take you by surprise, meaning that you’ll be ill-prepared to deal with them. When it comes to making informed decisions in your business, this data is key - not gut feelings or hunches.

Make Your Business Scalable

No one wants to throw money away on resources they won’t use, so the trick is to be able to scale your resources up and down as needed. Demand and your need for resources go hand-in-hand, so don’t over-commit. For example, if you only need additional assistance for 3 months during the year, don’t commit to a year-long contract with a member of staff.

Diversification is the Key

By diversifying your products or services, you can better protect your small business from the harmful effects of seasonal fluctuations. You could diversify where you sell (geographic diversification), what you sell (product diversification) or who you sell to (customer diversification). 

While this might sound like a lot of hard work, it could be as simple as selling your winter stock during the summer months online to those living in the Northern Hemisphere.

Be Realistic

It’s important to be realistic about your expectations (rather than setting them too high), particularly during the beginning stages of your business. After all, no one wants to stretch their business, nor should they suffer from the dreaded ‘business owner burnout’. 

If, at the end of the day, you’ve sold your stock and met your budget, then this is a far better situation to be in than one where you’ve got tonnes of excess stock and are unable to pay your employee wages.

Avoid Ignorance

If you do experience seasonal fluctuations, it’s vital that you take action immediately to counteract its harmful effects. Start by seeking the advice of a business professional and then begin working on a solution. 

Can you offer a special promotion during a slow period or stock up on items which are the most popular? These are just some of the questions you will have to navigate as you work to protect your business against seasonal ebbs and flows.

Through taking on this advice, you’ll soon have a small business that isn’t just scalable, but also effectively protected against seasonal fluctuations. Onwards and upwards!

Author bio: Melanie Doncas is a content writer for Lumi, an Australian fintech specialising in unsecured business loans. She is passionate about helping SMEs, entrepreneurs, and startups to grow their business.

Entrepreneurial Business Ideas To Supplement Your Retirement Finances

The idea that you need to be a Millennial to enter the entrepreneur arena is certainly false. More entrepreneurs over 40, and even over 50, are making their entrepreneurial endeavors come to fruition. And why not? Older entrepreneurs have the wisdom and expertise to bring a new concept, product, and/or service to market.

One study from the Kaufman Foundation found that entrepreneurs between the ages of 50 and 65 are catching up to the Millennial entrepreneur group. Why are the older generations becoming entrepreneurs? It could be boredom, or it could be the need to increase retirement finances.

Let’s face it, waiting for social security checks to cover bills is not on anyone’s to-do list, regardless of age. And entrepreneurship is one way to ensure more income is coming in with the ability to enjoy a bit of personal and financial freedom.

“Every person has the right to enjoy happiness, good health, time-freedom and financial-freedom…regardless of who they are, where they live, and what they do,” The 1-Hour Workweek explained. Are you looking to boost your retirement finances? The following entrepreneurial business ideas can serve as your quick guide. Let’s dive in!

Rekindle a passion and turn it into money

Launching a new business can definitely be challenging. The time and money it takes can take its toll. Except if your business encompasses something you are truly passionate about. This makes all the challenges that need to be overcomed worth it.

So rekindle that passion you may have burnt out due to work and family obligations earlier in life. And the good news is that businesses with a passionate foundation often succeed more than those without. This is where you will see far more women entrepreneurs successful.

“First, they are willing to learn,” David Deeds explained in a Forbes article. “Men, as we get older, tend to be set in our ways. Women, in general, are more open to learning and are collaborative. Entrepreneurship is a team sport, and women are good at working with others. That gives them a little advantage.”

Start a business that local businesses find useful

 In your later years, traveling for work is probably not to enticing. This makes starting a business locally a win-win. You can begin by brainstorming what things your community businesses may need a bit of help with. It could be productivity aspects to streamline workflow, financial processes like accounting, and much more.

While your increasing your retirement finances, you can be helping others with theirs. In fact, financial help is a must for most businesses, since many business owners don’t know much about business finance, taxes, payroll, personal loans and investing, as well as contract negotiation.

If you have any financial background at all, this could be the perfect business that helps other businesses in your community while keeping you local. You can even set your own schedule. Not too bad.

Provide consultation services to medium and large companies

This type of business idea is made to order for most older professionals. Why? Because you have already had decades of experience in an industry, and you have a big network others may want. With the internet, you can turn those years of experience and knowledge to more retirement finances.

All you need to do is set up a website, start writing articles about what you know, and build that client list. It may take a bit of time to get a big client list, but it will certainly happen. You probably won’t even need to do much marketing. Word of mouth is a powerful thing when dealing with medium and large companies.

You can also choose the clients you want to work with, which is one of the biggest benefits. This allows you to work with those you like, and ignore the rest. Have a big vacation coming up? Well, you don’t need to tell anyone, because you can consult from anywhere, and at anytime. Just don’t forget to keep communication lines open with your network, and feel free to grow your network too.

Ready to boost your retirement finances?

More older entrepreneurs are heeding the call, and why not, you have the expertise, network, and knowledge base to handle a new business endeavor. The above business ideas to increase your retirement finances are certainly not the only ones. However, they are a few of the easiest to pursue, and possibly the most enjoyable. Age is only a number and you can have an entirely new career path that you make ahead of you.

Peace of Mind: 4 Ways to Overcome Financial Stress

If your financial situation isn’t what you hoped it would be, there are ways to change it for the better. By holding yourself accountable for your earnings and spending, you’re able to put a plan in place that helps you achieve your financial goals quicker. 

It helps you evolve into a better planner, too, so you don’t find yourself stressing about money in the future. The following list provides four suggestions to overcome financial stress.

Pay Yourself First

Before you divvy up your paycheck, make sure that you give your bank account a boost. Having a portion of your money automatically directed into a savings account makes it so you have some financial security to fall back on in the event an unexpected expense comes up. 

It doesn’t matter how much money you move into savings, either, because every little bit counts. You’ll learn to live on less and still plan for the future thanks to the automatic deduction you opted to have sent to your savings account.

Learn to Differentiate between a Want and a Need

What you must have to survive and what you’d like to have to be happy are two different things. Learning to postpone wants allows you to better take care of your needs. Then, if you find yourself in a better financial situation, you can pay for wants and needs equally. 




You won’t need to wait to buy something you really want because you will have taken care of your basic needs and be ahead financially.

Make Saving Money a Game

Challenge yourself to save as much as money as you possibly can on everything you buy. Clip coupons, take advantage of sale prices, stock up on freebies, and borrow what you’d typically buy. There are many ways to stretch the almighty dollar further. Have fun with it by being as creative as you possibly can be.

Invest in Your Future

No matter how tight things may be now, they won’t always be that way. Invest in your future today by taking advantage of learning opportunities, free training, and other things that interest you. 

By putting time and attention into personal development, you become a valuable resource for yourself and others. You’re able to overcome money challenges quicker and easier, too, because of the skills you bring to the equation.

Selling my home for cash doesn’t need to be something difficult to do. In fact, it’s one way to overcome financial stress quickly. Not having a mortgage payment frees your finances up considerably. It allows you to come up with cheaper and more creative living arrangements.

If you’re experiencing stress because of your finances, you don’t have to feel stuck. There are plenty of steps you can take to free up debt and to be more organized with your finances.

Contingency Plans You Should Make after Landing a Great Job

You may have spent many long years in school as well as additional time gaining essential experience in your field. After a considerable amount of time and effort, you may be thrilled that you have finally landed an amazing job. 

Understandably, you are focused on putting your best foot forward and doing your best to retain your job, in fact, you may home to advance further in your field in the future. As important as it is for you to look eagerly toward a bright future, it is equally essential to make contingency plans and to prepare for potentially severe situations. 

These are some of the more important steps that you should take now to prepare for unpleasant yet possible scenarios.

Get a Financial Advisor

If you are not working with a financial advisor right now, consider doing so soon. Your new job likely came with a huge boost in income. This extra income could be used to improve your lifestyle and to enjoy luxuries that have previously not been available to you. 

On the other hand, you could use this extra money to save and invest. Preparing financially for the future right now is a smart way to be prepared for a layoff or other employment issues. This also may prepare you for retirement down the road. 




Keep in mind that you may be forced into an early retirement or need to call it quits before you actually planned to do so.

Hire a Lawyer

Some jobs are riskier than others, so there may be a more significant need to have an attorney’s phone number stored in your phone in some situations. For example, if your job requires you to drive frequently, keeping the number of an automobile accident attorney in your phone is a great idea. 

The services of malpractice lawyers, workplace injury lawyers and other legal specialists may be required in various situations as well.
Improve Your Home Life

In order to do your best in your new position, you understandably need minimal distractions from your home life. If possible, look for ways to reduce home maintenance and upkeep tasks. For example, you may use lawn care and cleaning services to save valuable hours each week. 

If your home is too large and unmanageable, you may even downsize to a space that is easier for you to care for. Relocating to a home that is closer to your new workplace may also benefit you.

Planning and preparing for the future requires you to be optimistic as well as realistic. When you follow these steps today, you can be better prepared for whatever the future holds.

Retired and Buying a Home? 4 Points to Help You Get Your Dream Property in Florida

Retirement is your golden years. It’s the time in which you can focus on yourself, do the things you’ve always wanted to do, and to relax and live life to the fullest. For some, that retirement dream is to travel around the world. Others, though, prefer to retire in a warm place like Florida.

If you’re retired and looking to buy a home in a new area, or downsize your existing home, there are a few things you’ll want to remember. The wrong house could hinder your retirement and cost you a lot of money. However, the best property for you could be what you need to top off a perfect retirement.

To help you plan your retirement and buy a house in Florida, we have a few pointers to remember.

Be Realistic About the Location

The location of your potential property is important, especially in your retirement years. It may seem appealing to have a house tucked away in the woods and secluded from everything else. However, how long of a drive is it to get groceries, go out for supper, head to a doctor’s appointment, or meet up with a friend?



As you get farther into your retirement, driving may not be as appealing anymore. You may find yourself having to visit the doctor’s office more frequently. Also, being too secluded can make you feel lonely.

Don’t Use All of Your Retirement Savings

It may be tempting to pay for your retirement home in cash so that you don’t have a new loan to take on. However, if you do that, what are you left for in your retirement savings?

Tying up your retirement funds into your home isn’t the wisest decision, unless you have tons of money to last you decades. Taking on a new mortgage isn’t the end of the world, and it will likely still allow you to do the things you love.

Take a look at the different mortgage options, like a USDA loan. Talk to a lender and view a USDA loan map of Florida to see if you qualify.

Be Realistic About the House

Maybe you found the perfect retirement property for your life at this moment. However, will the house still work for you five, 10, or even 15 years down the road?

A house that has multiple stories with tons of stairs may not be as appealing the older you get. You could find yourself having to spend more money upgrading the property to be more suitable as you age, or having to move altogether.

Can You Afford It?

Buying a house when you retire is different from buying a home in your 20s. At that age, you have decades worth of work ahead of you, so you know you’ll likely always have a consistent income coming in.

When you retire though, your income will not be the same. You need to factor this in. Ask yourself if you can afford the potential property with your retirement money for multiple years? Do you have enough set aside into an emergency fund? You wouldn’t want to find that in the next five years, half of your retirement savings is gone due to your new house.

Golden Goose in the Golden Years: How to Manicure and Manage Your Nest Egg

Retirement is a time for you to cherish. People often use their retirement years to make the most out of life. They often travel, participate in new recreational activities, and simply take it easy. If you want to do all of these things with ease, however, then you need to make a point to protect your finances properly. Keeping your nest egg intact is essential.

Devise an In-Depth Monthly Budget

The absence of a comprehensive budget can make handling a nest egg pretty unrealistic for most people. If you want to keep your finances in check for years to come, then you need to devise an exhaustive budget. Figure out how much money you’re able and enthusiastic to set aside each month for utilities, entertainment, transportation, dining out, and more.

Consult Several Retirement Planning Advisors

Retired individuals often seek financial assistance from capable and knowledgeable planning advisors. There are planning advisors out there who specialize in retirement exclusively. 





That’s one of the reasons they’re qualified to give retirees comprehensive advice. Set up consultations with various retirement planning advisors in order to select one who is the best match for your individual aims and wishes.

Downsize Everything You Can

If you want to take charge of your nest egg and of your financial future in general, it may be wise to downsize. Chances are your children are adults who no longer live with you. If they are, you may not need as much space as you did in the past. 

Consider selling your home and relocating to a much smaller one. Smaller residences cost a lot less to maintain. Living in them can decrease your lifestyle expenses in a major way.

Find a Part-Time Job

It can be smart to keep your mind sharp and alert all throughout retirement. Using your brain on a frequent basis can be wonderful for keeping your cognitive abilities. If you want to handle your finances and keep your mind effective at the same time, it may be good to look for a part-time job. Part-time work can be helpful to retirees who are searching for pastimes as well.

The last thing you want to do is spend wastefully during retirement. If you want to protect your finances, you have to be 100 percent proactive. You have to be on the lookout for new opportunities as well. It can never hurt to get guidance from adept retirement planning advisors.