How to even out the peaks and troughs in your business
How to even out the peaks and troughs in your business
Well, let’s see if this situation sounds familiar to you. One of my clients had lots of feast and famine times in her business. Analysing her business further, we concluded that when it was quiet in her business, she often panicked and did loads and loads of marketing resulting in customers. When her business was busy though, she didn’t have time to do any marketing so eventually customers dried up and when they did, she did some marketing again.
That way, she virtually guaranteed herself the peaks and troughs a lot of business owners are familiar with. Are you the same in your business? Do you only do marketing when you can see current projects drying up and ignore it when you’re really busy?
If you want to even out the peaks and troughs in your business, the easiest way to do that is to do marketing all the time – yes, even when you’re busy and you don’t have time.
Why? Well, any marketing that you do today takes a little while to have an impact in your business. I usually give out an average of three months (although it does vary from business to business). That means that any marketing you do today, will take an average of three months for you to see the results in your business.
So, it stands to reason that if you’re really busy today and do some marketing, you won’t see the impact immediately, but you will see the results two or three months down the line. Instead of getting quieter during this period, you’ll actually have business coming in through the door – how great would that be?
Two common points that get often get brought up when I pose this idea are 1) I don’t want to get too busy – if I promote my business all the time, I’ll be snowed under and 2) I haven’t done any marketing for ages, but I’m still getting business – I obviously don’t need to do any more at the moment.
Let’s address each of these in turn.
Getting too busy is a common concern of small business owners who are worried that they’ll be snowed under if they do too much marketing. My response to this is “let’s get you really busy first and then we’ll worry about what to do about it”. Being too busy is always an easier problem than being too quiet and if you haven’t got enough business at the moment you need to create some momentum to get you business consistently. Please don’t worry about being too busy – we’ll worry about that, if and when it happens.
If you haven’t done any marketing for ages and are still getting business, there is a reason for that. To explain what’s going on, let’s use the analogy of a bike. When you first start doing some marketing, it’s like riding a bike and you need to peddle really hard to get it going. When you’ve reached a crescendo you can coast for a while, but if you don’t start peddling again, your bike will stop.
If you’re still getting business even though you’re not doing any marketing, it’s likely that you’re coasting on your bike, which tells me that you’ll need to start peddling again very soon, otherwise your bike will stop. And believe me once it’s stopped, it’s much harder to get back on the bike and start peddling really hard again. It’s much easier just to peddle a little bit occasionally to keep the bike going.
It’s easy to iron out the peaks and troughs in your business – just go out there and market continuously. Well, ok I know it’s not that easy, but give it a go and I promise you’ll reap the rewards.
How to even out the peaks and troughs in your business - To learn more about this author, visit Helen Dowling's Website.
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Do you ever get times in your business where you’re really busy and then other times when you’re really quiet? Annoying isn’t it and frustrating? Wouldn’t it be much easier if you had business constantly coming in and never faced the really quiet times?
Well, let’s see if this situation sounds familiar to you. One of my clients had lots of feast and famine times in her business. Analysing her business further, we concluded that when it was quiet in her business, she often panicked and did loads and loads of marketing resulting in customers. When her business was busy though, she didn’t have time to do any marketing so eventually customers dried up and when they did, she did some marketing again.
That way, she virtually guaranteed herself the peaks and troughs a lot of business owners are familiar with. Are you the same in your business? Do you only do marketing when you can see current projects drying up and ignore it when you’re really busy?
If you want to even out the peaks and troughs in your business, the easiest way to do that is to do marketing all the time – yes, even when you’re busy and you don’t have time.
Why? Well, any marketing that you do today takes a little while to have an impact in your business. I usually give out an average of three months (although it does vary from business to business). That means that any marketing you do today, will take an average of three months for you to see the results in your business.
So, it stands to reason that if you’re really busy today and do some marketing, you won’t see the impact immediately, but you will see the results two or three months down the line. Instead of getting quieter during this period, you’ll actually have business coming in through the door – how great would that be?
Two common points that get often get brought up when I pose this idea are 1) I don’t want to get too busy – if I promote my business all the time, I’ll be snowed under and 2) I haven’t done any marketing for ages, but I’m still getting business – I obviously don’t need to do any more at the moment.
Let’s address each of these in turn.
Getting too busy is a common concern of small business owners who are worried that they’ll be snowed under if they do too much marketing. My response to this is “let’s get you really busy first and then we’ll worry about what to do about it”. Being too busy is always an easier problem than being too quiet and if you haven’t got enough business at the moment you need to create some momentum to get you business consistently. Please don’t worry about being too busy – we’ll worry about that, if and when it happens.
If you haven’t done any marketing for ages and are still getting business, there is a reason for that. To explain what’s going on, let’s use the analogy of a bike. When you first start doing some marketing, it’s like riding a bike and you need to peddle really hard to get it going. When you’ve reached a crescendo you can coast for a while, but if you don’t start peddling again, your bike will stop.
If you’re still getting business even though you’re not doing any marketing, it’s likely that you’re coasting on your bike, which tells me that you’ll need to start peddling again very soon, otherwise your bike will stop. And believe me once it’s stopped, it’s much harder to get back on the bike and start peddling really hard again. It’s much easier just to peddle a little bit occasionally to keep the bike going.
It’s easy to iron out the peaks and troughs in your business – just go out there and market continuously. Well, ok I know it’s not that easy, but give it a go and I promise you’ll reap the rewards.
How to even out the peaks and troughs in your business - To learn more about this author, visit Helen Dowling's Website.
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David BarrDavid Barr is the President of Venture Opportunities, Inc. David has been a professional business broker/intermediary since 1980 focusing on General Business Brokerage and Mergers and Acquisitions representing client transaction value from $400,000 to $20,000,000. Mr. Barr has handled the sale of over four hundred and fifty companies. David earned a university degree from the State University of New York majoring in economics and business. David holds the Mergers and Acquisition Master Intermediary and the Certified Business Intermediary designations from the International Business Brokers Association. He is also a Senior Business Analyst and a Texas licensed Real Estate Agent. For more information about David and Venture Opportunities, visit www.bizdealmaker.com. - Visit David Barr's Website |
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Cheryl MatthynssensCheryl is a life skills coach, licensed Chemical Dependency Counselor and a 20 year entrepreneur. Cheryl's dedication to achieving a life of balance led to her expanding her teaching from the simple managing of life's daily challenges to adding financial well being as well. A direct marketer with DrinkACT, she is gaining ground in the online community with her concepts of making sure business owners, entreprenuers and employees have well rounded life styles. She opened up a small affiliate site - The Balance Guide- to help others find resources for mental and emotional well being. Visit Cheryl's blog to see more of the diversity beyond business she has began offering online at www.thebalanceguide.blogspot.com - Visit Cheryl Matthynssens's Website |
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