A lot of Filipino businessmen believe that August is no time to make a good fortune from their businesses as it is believed to be the ghost month. The idea originally came from the Chinese tradition where the 7th month or the period of August is a time when hungry spirits make their presence known to the living on Earth.
It has become a popular ideology among businesses in the Philippines as Chinese traditions are also part of Filipinos rich history. As time went by, many entrepreneurs avoid investing in stock markets, real estate properties, engaging with significant deals, and other possible massive ventures.
During this month, businesses do a lot of prudence and take more time to consider multiple options to lessen the risks.
Whether you believe in the misfortune of the ghost month or not, there are several ways on how you can counter this month’s downside. You can check multiple ways on how you can benefit this August with these methods of countering the ghost month.
Turn this month as your commencement towards success with these simple ways below:
Refine Your Business Processes
If you are a businessman, a business process should be something not new to you. Whatever business industry you are in, business processes are very important to secure the operations to run as smoothly as possible while accomplishing the key deliverables or results from one’s business.
The month of August is technically the month in between the third quarter of the year. It might be a good month to track down how usual operations or processes are doing from the last 2 quarters while you are still in the sandwich of your third quarter.
Having the luxury of time to assess and analyze your business process is something to serve you a better result. Evaluating the process gives you more opportunities to align your business goals as well.
If you have a definite and clear process it will fruition to better optimization and acceptable results.
Communicate to Employees
As this month can also be seen as a downslope, many businesses can expect a slowdown or descend from their numbers. Hence, you may have the time to talk to your employees while the month shouldn’t be busy as the usual operations from the previous months.
We understand that talking to your employees may take so much time and effort especially for large companies, but it shouldn’t be the case for small or medium enterprises. Taking serious time to talk to your workers may fruit to better work ethics and results.
Developing rapport with your employees may lead to knowing and realizing insights regarding the company. Moreover, workers can have more confidence in a leader who values their opinions. Remember that loyalty and integrity isn’t something you can pay off with any amount.
Plan and Strategize
Evaluation of your current business processes and getting to know the opinions of your workers may help you now in strategizing and planning on your next business steps. Having the initial outputs from the previous steps can guarantee you to create more concrete strategies this ghost month.
If there is one thing ghost month can bring to your advantage it is the fortune of time. Having sufficient time to plan and strategize for your business is very important.
Carefully analyze the data collected and come up with a systematic plan where you want to carry over for your business improvement. Most importantly, you will have to commit to any changes that you want to implement and have realistic timelines of implementation.
As people always say learning is a never-ending process, most especially when you are in the business. If you are a businessman, learning new things should excite you more than your workers. Moreover, the ghost month should not hinder you from doing so!
You may enrich and improve yourself simply by attending seminars, pieces of training, expo, or any such event that is relevant to your business industry. Besides, this will not be harder to find compared to years ago where people aren’t holding virtual or online types of events.
A lot of seminars or educational materials can also be downloadable nowadays. You won’t have any reason not to educate yourself with the ample time the ghost month can reward you.
No successful business nowadays does not use the means and power of technology. Computers per se are here to make man’s job easier and faster. Checking and trying out new devices or systems can give you an advantage compared to your competitors who are under-driven by technology.
Finding the best business solutions for your business can create more and better results for you during this ghost month. Plus, today’s fast-paced world will also be demanding you to improve every element of your business no matter what type of services or products you offer.
We can guarantee that competition is looking out for their options for innovation not just during August but all year-round.
Remain Competent and Driven this Ghost Month
No matter what time of the year an essential element for a businessman to succeed is to have the sense of competition and drive to reach for goals. At the end of the day, believing it or not the misfortunes ghost month can bring will not matter if you are not working to improve your own business.
As a businessman, you may need to weigh your options especially in looking at the best investments in the country. Working as an entrepreneur shouldn’t be something you should look forward to as you reach your senile age.
Build your investment empire and have your investments working passively for you because nobody will want to work for the rest of their lives eventually. But what you can do this ghost month is to explore your options to beat the negativity this month can give you or your business.
Don’t let this month scare you from doing more productive efforts for your business and yourself. Make this month an opportunity for growth and change before you get to say that “I’m successful”.