After Lebaran, online sales tend to decrease compared to the fasting month. Therefore, you as an online business owner need to manage the income obtained in order to ensure the financial condition of your business remains stable. In addition, the income that you get during the month of Ramadan can also be used to develop your business after Lebaran, for example by presenting new products. There are 3 important things that you need to do in order to effectively manage your business income after Eid. Let;s see the following explanation!
1. Prepare a budget plan
The most important thing you need to do to adjust sales income after the Lebaran holiday is to prepare an expenditure plan. So, the income that you get you can use to fulfill these expenditure plans. Remember, besides being used for expenses, namely operational costs, the income you get also needs to be used for initial capital to sell after Eid. If the income is still left over, then you can calculate it as a business advantage that you can use for various things, ranging from trying other types of businesses, developing existing businesses, to meet personal needs.
Make sure all your spending plans are in accordance with your business needs. This will help you to monitor each expenditure effectively. Do not forget, as an online business, you also need to set aside an emergency fund as a backup if at any time you need it. Moreover, we can not predict how the sales conditions in the future. So, we better get ready from now if there are unexpected needs that we need to do.
2. Immediately pay all operational needs
After knowing the expenditure plan, then now is the time for you to pay for all expenses. Avoid delaying payments because in the end, this will trouble yourself. You must set aside income in the following month to pay the fees that you have postponed. This will certainly give you trouble to calculate your net income, won’t this?
In contrast, after paying all operational costs, you will more easily create a stable financial condition for the business. All business needs can run smoothly without any problems. For example, you can communicate with customers because they have paid internet bills. This looks simple, but if you delay the payment, of course you will find it difficult to respond to customers quickly. And in the end, the small problem has an impact on the level of service your business.
3. Grow your business
Now, after completing operational requirements, you also need to use income after Lebaran to develop your business, for example by innovating on products and services. Present products that are now much needed by the community. So if for example you are an online food and beverage seller, you can also provide food and drinks that are rich in nutrients that customers need to keep the body healthy.
In addition, you also need to optimize technological advancements in your business. Cashlez provides business solutions for you so you can manage business easily and safely. There is a subscription free cashier app that includes the mPOS feature and records practically all product categories. In addition, there are also Cashlez Pay features, one of which provides online payment options, namely Cashlez Link. Through this feature, you can send payment links to customers and they can trade with their debit or credit cards.
Managing the income that has been obtained after Eid is very important so you can make your business grow. So, start preparing your income management plan from now on!