Making your business more sustainable and future proof

We all know that running your own business comes with highs and of course the dreaded lows. It's simply part of the game.

Whilst some small businesses seem to just hit the ground running and grow at unbelievable rates, for the majority of us it's more of a slow and steady burn to reaching our goals.

One way of future proofing your business is making it somewhat indestructible. And whilst armour you can totally clad your building just in case there is a zombie apocalypse, we are thinking more along the lines of it surviving any financial "hiccups"

What do we mean by "financial hiccups"?

We would consider this to be anything unaccounted for or predicted. Like at present, as a nation we are now feeling the effects of the aftermath of the coronavirus pandemic, the ripple effect from the war on Ukraine and the ongoing uncertainty of Brexit. 

These hiccups come at a cost and that, at the moment, is the increasing cost of living and energy bills increasingly at an alarming rate.

This affects everybody, whether they run a business or not. And with home fragrance products considered to be a luxury item, they are generally the first area in which is squeezed.

What can you do about it?

The best way of future proofing your business is preparing for occasions such as these, like pushing your content further and wider, and give yourselves multiple revenue streams.

For example:

• Instead of just using shopify to sell your products, use Etsy and Ebay as well. 
• Set up a subscription service where your customers are in a contract to receive X amount of products monthly.
• Use wholesale platforms to encourage shops to stock your products.

To great benefit to multiple revenue streams is that when one of your platforms is having a slow day, hopefully one of the others will pick up the slack with a good day.

Business has its difficulties and having a thriving business is all of our dreams. So look after it in giving it the best chance of healthy growth and overcoming the dreaded hiccups.