Holiday Business: Can You Afford to Shut Down for a Week?
Running a business during the holidays brings up annual challenges. Employees need (and deserve) time off to be with their families. Clients are in a rush to get their orders before year-end, and your suppliers may be unreliable because they’re facing the same challenges.
With all the chaos, you might wonder if it’s even a good idea to stay open. Should you just shut down for a week during the holidays? Can you afford to do that?
Here are a few tips to help you determine whether your business can afford to shut down for a week this winter and some lesser-known benefits of taking that time off.
Can You Afford to Shut Down?
At first, the idea of simply ceasing operations for a week may sound completely impossible, but ask yourself these questions, and it may start to sound more realistic:
Are you reasonably “caught up?”
This means different things in different industries. If you’re on track with most of your deadlines, you can probably afford to press the “pause” button and take some downtime during the holidays.
Clients probably won’t be requesting new work until 1Q 2020. On the other hand, if you’re a month behind and already missing deadlines, you may need to stay open during the holidays.
Will most of your employees be out anyway?
If most of your employees have requested time off, your productivity will probably be low December 24-January 1. Since you won’t get much done without them, this could be the perfect chance to take some downtime.
Can your clients wait?
If you have a major project due the first week of January and the clients are nervous, perhaps you should work through the holidays. If your clients are flexible, you could send them a message ahead of time, let them know you’re shutting down for a week, and ask if they can manage a small deadline extension. By giving them a heads-up, you make it easier for them to plan.
Are you financially comfortable?
If this is your first year in business and you’re struggling to make ends meet, then shutting down for a week may not be the smartest choice. But if you’re enough ahead financially, taking a week off may actually be better for your business long-term.
Employees will return feeling well-rested and more productive. This can boost your bottom line in the new year.
Benefits of Shutting Down
You’ll be excited to spend a week out of the office, but shutting down during the holidays has additional benefits. Running a business during the holidays can be very frustrating, and can leave your employees exhausted and out-of-focus.
If employees have a week off, they’ll be fresh, energetic, and less likely to call in sick during the holidays. They and you will return to the office feeling fresh and ready to get the new year off to a good start.
Shutting down shows your employees you care about their needs, which will boost employee retention. You’ll spend less time recruiting and hiring. It also shows your clients and community that you care, which in this era is very important for marketing. If needed, you can still reply to emails and coordinate from home, but taking a break from the daily grind is very beneficial.
Should you shut your business down for the holidays? In most cases, this is a smart move, but only you know what’s best for your business.