I’ve just spent the last week of October on holiday on the coast of the Adriatic Sea. As the days passed, my husband and I watched as the little town transformed from a bustling coastal city to one that was closing for the season.
Every day we observed shops selling the last of their wares and then show no signs of a business the next day. On one occasion one restaurateur announced that we were their last customer for the year, acknowledging us with a decadent desert to send us off on our merry way.
The following day, the outdoor tables and chairs that graced the seaside, along with the protective awnings and sun umbrellas were gone, tucked away during the night to be brought out again at the start of the next season six months later. The safety buoys that encompassed brave swimmers were gone and the evening lights that danced on the water no longer appeared.
We watched this small community literally roll up before our very eyes, knowing that they will stop operating for the next six months. It left me wondering, how do these people survive when they are only able to earn an income for half of the year?
That prompted the next question, could the average business owner survive on six months of earned income? Could my own business survive?
My mind refused to let me go down that dark alley of negative possibilities. Instead, I asked myself, what more could I do with my existing business that I’m currently not doing and what would I need to add and implement now that would allow me to survive if for some reason I had to (or better still) if I chose to take six months off from the business.
How about you my friend? What would you do?
I believe that this question is well worth putting out there for all small business owners to think about as most people don’t have a Plan B in place in the event there was a sudden change in their business.
As such, I’m throwing down a challenge to my fellow solopreneurs and small business owners and I’m calling it The 6-Month Seasonal Shut-Down Challenge.
The Scenario & Rules: If you were to shut down your daily operations (your main source of business earnings) for six months, what would you do leading up to this time and/or during the six months that would derive you some form of income?
List your top 3-5 ideas in the comments sections.
By sharing ideas, we are all bound to find additional ways to generate an additional revenue stream, be it passive or otherwise.
I’ll start with my list first:
Offer more value to existing clients to increase earning leading up to the shutdown
Launch an online course or membership site
Record and promote the 50-60 Something Start-up Entrepreneur audio book
Find a high-priced digital product to promote as an affiliate marketer
Write a series of mini-eBooks to sell via Amazon and other platforms
Set up an automated sales funnel that educates and that has digital offers throughout
These are just a few of my thoughts. I look forward to hearing what others in the small business community have to say.
The time to prepare for your future is now. Better to have a Plan B ready now than when you might need it and then be scrambling.