Winter is here! Strategies you can implement today and stay ahead of the curve.

So today is all about the Winter, most if not all business see a seasonal shift in revenue and customer engagement. I mean can you blame them, going and freezing your butt off isn't always fun, holidays, football season, so many distractions.

Let's dive in, these strategies below have been taught at schools like Harvard and are proven to work. Implement the ones best suited for your business and don't talk yourself out of taking action.

Let's GO!

1. Blue Ocean Strategy: Concept: Instead of battling competitors, businesses create a space where they're the sole player. Real-world example: Cirque du Soleil. Instead of traditional circuses that focused on animal acts and aisle popcorn sellers, Cirque du Soleil combined theater and circus, creating an entirely new market and audience. Winter Application: A local cafe could introduce live, cozy, indoor music nights during winter, differentiating itself from other coffee shops and attracting customers who seek indoor entertainment.

2. Jobs-to-be-Done Framework: Concept: Customers hire a product/service to fulfill a specific need or job. Real-world example: Snickers bars advertises not just as a chocolate bar, but as a solution to hunger with its tagline: "You're not you when you're hungry". Winter Application: Realize that customers aren't just buying a house; they're buying comfort, safety, and perhaps a place to create memories. A winter-themed marketing campaign can emphasize the coziness and warmth of homes, selling the idea of a perfect winter shelter.

3. Zero-Based Budgeting (ZBB): Concept: Every expense must be justified in each new period. Real-world example: Kraft Heinz adopted ZBB, leading to savings of about $1.7 billion. Winter Application: A restaurant might reassess its winter inventory. Instead of ordering the same amount of summer ingredients, they could pivot to more seasonal produce, reducing wastage and costs.

4. Resource Dependency Theory: Concept: Businesses must manage and balance dependencies on external entities. Real-world example: Netflix, initially dependent on movie studios for content, started producing its original shows, reducing its dependency. Winter Application: A ski resort heavily reliant on one equipment supplier might foster relationships with alternative vendors to ensure consistent service despite potential winter disruptions.

5. The Endowment Effect: Concept: People value what they own more than what they don’t. Real-world example: Starbucks rewards make customers feel they have 'stars' to lose, so they visit more often. Winter Application: Offer potential buyers a "try before you buy" experience. Allow them to spend a night in the property to create a sense of ownership. Especially during winter, the coziness of a property can be a selling point. ( Make sure you explain this strategy to your sellers properly and there are necessary documents signed before doing so) 

6. The Anchoring Principle in Pricing: Concept: Initial price sets a standard for subsequent perceptions of value. Real-world example: Black Friday sales, where original prices are shown struck through next to sale prices, anchoring customers to the perceived discount. Winter Application: A spa could offer a winter wellness package, showcasing the total value of individual services but offering them at a bundled, discounted rate.

7. Time-Driven Activity-Based Costing (TDABC): Concept: Understand costs based on the time resources spend on activities. Real-world example: Mayo Clinic used TDABC to identify process improvements, discovering that they could maintain their standards while seeing more patients. Winter Application: Track the time spent on each activity of the property selling process. Perhaps you realize that coordinating between parties takes the longest. In that case, implementing a more efficient scheduling system could speed up the sales cycle, crucial during the short winter days. This could be open houses with on a Sunny day with a bonfire and a food truck or other warm food items that would attract potential clients and give them a feel for what its like to throw a backyard party in their potential home. People ( including you) don't buy products or services, they buy experiences and feelings. Read the last line again.

But how are you going to start? I have you covered, start here and then let your intelligence take over.

P.S. Taking actionable steps is just as crucial as understanding these strategies. Here's a quick breakdown to kickstart your winter preparations:

1. Blue Ocean Strategy: Start with a brainstorming session. Identify gaps in the current real estate offerings. Ask yourself, what unique value can I offer that no one else is providing?

2. Jobs-to-be-Done: Interview past clients. Understand their core emotional reasons for choosing a home. Was it the fireplace? The proximity to a skiing resort? Use this data for targeted marketing.

3. ZBB: Do a budget review every month. Question every expense and ask, "Do we need this? Can it be optimized?" Especially in a slower season, it’s about getting the most from every dollar.

4. Resource Dependency: List all your key resources. Identify potential risks associated with each and strategize how you can diversify or have backup options.

5. Endowment Effect: If possible, collaborate with home stylists. A well-styled home can offer an enhanced "try before you buy" experience, creating a strong emotional connection.

6. Anchoring: Before setting the final price, study the market extensively. Identify the highest and lowest prices in the range and position your property strategically.

7. TDABC: Use time-tracking tools like Toggl or Harvest to understand where most of your time goes. If a task consumes too much time without equivalent value, it’s time to rethink or delegate.

Remember, each of these strategies, though proven, will only be effective when tailored to your unique business model and clientele. While they provide a robust starting point, regular evaluations and adjustments are essential to ensure optimal outcomes. Consider partnering with a mentor or a business coach for guidance, especially if this is your first time implementing such strategies.