What To Do When Things Get Slow
What To Do When Things Get Slow
How? It's not that we are not affected by the economy. It's just that we aren't letting it get in our way. And, to be specific, we are ramping up the marketing. That is my best advice for an economic downturn: reach out to more people than ever, go to more networking events than ever, be flexible and find the places in the economy -- and in your market especially -- where there is growth.
Beyond that, here is a round-up of what I consider to be good advice from business experts.
Be Flexible
"Give clients a number of different ways to utilize your services - perhaps expand your services to include things you have not done before - so your current client base has more reasons to "touch" your business. Keep in mind that scarcity thinking can find a business owner at the worst of times - there is MUCH abundance in the market place. Reach for the highest fruit in the tree - don't settle for the low hanging fruit. Work with YOUR strengths - the things that make YOU successful - farm out the work that can be done by others. Be careful not to hide your light under a bushel - find new ways to market your services! Be willing to do the things that others are not willing to do - even if they are uncomfortable. Those who succeed are those who are willing to be the most uncomfortable. Continue to talk to successful people - watch your circle of influence! Read, read, read - stay positive. Know that business is cyclical." (From Jean Brokaw (Sellnau), Mortgage consultant in Iowa (posted on LinkedIn)
Keep marketing
From Wendy Weiss http://www.wendyweiss.com/
My recommendation is to take action every single day to find new or additional business. Prospect, prospect, prospect. Opportunity is out there, you simply have to find it. During difficult economic times vendor loyalty can be shaky. This is a great time to go after accounts that have previously been locked up and held tight by your competition. Businesses are looking for ways to save money, make money and be more productive and efficient. If you can help in any of these areas, prospects will be open to doing business with you."
In the April issue of her newsletter, Revenue Journal, (http://www.revenuejournal.com/) Kristin Zhivago suggests getting serious about "all those things you didn't think were important when sales were good. All those things you thought were "good enough." All those things that happen "after the sale," and therefore didn't matter as much to you as things that prevented sales from occurring. All those things that, truth be told, your customers were watching, like a hawk. When the rivers of revenue are full and flowing, it feels like these things don't matter (even though they do). When your river starts to shrink and slow, these things can become company killers."
Keep your eyes on the future
From Monica Day, writing in her email newsletter, Copy Protégé, (http://www.copyprotege.com) "It's a good time to assess both your life, and your business. You might get ideas about where to look for new clients, what type of new business to start, or how to reinvigorate the business you have. Where are you vulnerable? What opportunities can you grab that would transform a bad economy into good fortune for you? We are doing what we always do: take notice of what's going on around us, and pay particularly close attention to the horizon.
What To Do When Things Get Slow - To learn more about this author, visit Ilise Benun's Website.
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Things don't look good on the economic front, that's true. But my business has never been better. And the clients I work with - designers, copywriters, consultants and other solopreneurs - are all continuing to get new work, new clients, new opportunities.
How? It's not that we are not affected by the economy. It's just that we aren't letting it get in our way. And, to be specific, we are ramping up the marketing. That is my best advice for an economic downturn: reach out to more people than ever, go to more networking events than ever, be flexible and find the places in the economy -- and in your market especially -- where there is growth.
Beyond that, here is a round-up of what I consider to be good advice from business experts.
Be Flexible
"Give clients a number of different ways to utilize your services - perhaps expand your services to include things you have not done before - so your current client base has more reasons to "touch" your business. Keep in mind that scarcity thinking can find a business owner at the worst of times - there is MUCH abundance in the market place. Reach for the highest fruit in the tree - don't settle for the low hanging fruit. Work with YOUR strengths - the things that make YOU successful - farm out the work that can be done by others. Be careful not to hide your light under a bushel - find new ways to market your services! Be willing to do the things that others are not willing to do - even if they are uncomfortable. Those who succeed are those who are willing to be the most uncomfortable. Continue to talk to successful people - watch your circle of influence! Read, read, read - stay positive. Know that business is cyclical." (From Jean Brokaw (Sellnau), Mortgage consultant in Iowa (posted on LinkedIn)
Keep marketing
From Wendy Weiss http://www.wendyweiss.com/
My recommendation is to take action every single day to find new or additional business. Prospect, prospect, prospect. Opportunity is out there, you simply have to find it. During difficult economic times vendor loyalty can be shaky. This is a great time to go after accounts that have previously been locked up and held tight by your competition. Businesses are looking for ways to save money, make money and be more productive and efficient. If you can help in any of these areas, prospects will be open to doing business with you."
In the April issue of her newsletter, Revenue Journal, (http://www.revenuejournal.com/) Kristin Zhivago suggests getting serious about "all those things you didn't think were important when sales were good. All those things you thought were "good enough." All those things that happen "after the sale," and therefore didn't matter as much to you as things that prevented sales from occurring. All those things that, truth be told, your customers were watching, like a hawk. When the rivers of revenue are full and flowing, it feels like these things don't matter (even though they do). When your river starts to shrink and slow, these things can become company killers."
Keep your eyes on the future
From Monica Day, writing in her email newsletter, Copy Protégé, (http://www.copyprotege.com) "It's a good time to assess both your life, and your business. You might get ideas about where to look for new clients, what type of new business to start, or how to reinvigorate the business you have. Where are you vulnerable? What opportunities can you grab that would transform a bad economy into good fortune for you? We are doing what we always do: take notice of what's going on around us, and pay particularly close attention to the horizon.
What To Do When Things Get Slow - To learn more about this author, visit Ilise Benun's Website.
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