Finance: How Businesses Survive Ghost Month?

by Margie S. Danes, AUGUST 2022

Traditionally, the month of August is believed to be the Hungry Ghost Festival. The belief is that the gates of hell open and the ghosts are free to roam the earth for a month, during this period. 

It’s pretty difficult to simply ignore superstitions as this can be true for entire businesses that are susceptible to misfortune. Businessman welcomes Ghost Month through observance of certain rules to establish a sense of protection from bad luck.  

Nothing’s wrong anyways if entrepreneurs operate with extra caution during this Ghost month but let us know further how it started. 

Ghost Month can be traced back to Buddhist and Taoist beliefs.  

This is observed on the seventh month in the Lunar calendar, from early to mid-August until early to mid-September. For the Chinese, this is also a chance to commemorate and honor the spirits of departed loved ones.  

While ghost month can be intimidating for some, there is no reason to shut down your operations entirely. Many entrepreneurs make sure they follow certain traditions to mitigate the risks of mishaps involving their enterprises. As such, it has become common practice to know the dos and don’ts during ghost month. 

Since all beliefs are generally rooted in some form of logic and practicality, there is also no harm in adopting a few tips that you can consider during the month as follows. 

Avoid unnecessary spending. The Chinese believe that making big purchases during ghost month can cause bad luck. According to them, ghosts may grow envious of your new assets and cause you misfortune.  

Focus on accomplishing pending tasks. Managing a business can be difficult, especially when tasks pile up. But rather than focusing on trivial and repetitive assignments this month, it’s best to prioritize your backlogs. Since many companies experience slow operations during ghost month, this can be your chance to sort out and accomplish items that have long been overdue.  

Connect with your team consistently. Establishing good connections within your team is crucial to a successful and efficient workplace. When everyone is satisfied with their roles, after all, there is a higher chance of better collaboration and a renewed drive to lead your business toward success. Simultaneously, this prevents conflicts and decreases turnover rates. 

Improve your business process. In the age of modern technology, digital tools can enhance your operations such as implementing new technologies, upgrading internet access, and cybersecurity. 

Hold off on starting a new business. August is typically seen as a time when general sales and revenue slow down. Instead of rushing to release new items or expanding your brand around this period, your company can instead work on looking for new ways to save on resources and plan a better strategy when operations finally speed up. 

Access your current ventures. Ghost month can be a good opportunity to look at your business strategy since activities aren’t as busy. This can help you reassess and see if any parts of your business plan aren’t doing as well as they should. You can also use this time to determine if your organization should make major changes to improve your overall structure and processes. 

Whatever business trials along the way, remember to always maintain a positive and lucky mindset. 

“If you are seeking prosperity and a feeling of abundance, you need to surround yourself with things that make you feel good. This could be good friends who support you, projects that excite you, or music that automatically lifts your spirit.” By maximizing your vibration and energy, you are essentially telling the universe to “keep sending more juicy goodness your way.” – Susan Chan 




About the writer:

Margie S. Danes A