When Business is Slow

Most companies have a down swing in their sales a certain time of each year.  For me it’s usually during the Holiday season where it is the best time of the year for retailers.  Whenever you slow time is – there are certain things you can do to turn that time into a positive.  Here are just a few ideas.

1. Clean up your database.  Some of you are still using the paper and pen method – it’s time to see your database as one of your most important business assets.  When was the last time you called and updated the information?  Put someone on that – make sure you are capturing emails along with the rest of the information. 
2. Communicate.  When was the last time you communicated with past customers?  They are a great base for giving you referrals and also possible additional business.  Make a list of your clients, divide them up and physically visit them.  Ask how their business is doing, what they’re doing right, how their family is. what they would share as a wisdom piece this year.
3. Create a list of businesses you did not have success with this past year.  Visit or call and ask what you could have done differently and whether they would be open to giving you the opportunity to earn their business this time.
4. Create a marketing piece (paper or email) that rewards your top customers with a discount or coupon.  Remind them that you value their business and thank them.
5.  Send a gift that is not sent at Christmas when everyone else sends theirs, thanking your loyal customers.  You should be using the relationships you have at chambers and clubs to partner with you.  Why purchase items from a stranger or out-of-state company when you have acquaintances that want that business too?
6. Take a hard look at your team.  Do you encourage them to bring creative ideas and solutions to you to help you grow your company?  Or are they deadwood?  Now might be the best time to “free up their future” so that when business picks up you’ve got new talent that’s excited about advancing your business and their own success.  You don’t need negative people around when times are slow!
7. Hold a brainstorming meeting and allow input from all on how to cut costs, create more efficient processes, and advance the business. 

You were too busy to take the time to do this when business was humming – do it NOW – turn that lull into a prosperity- making opportunity.  CSP Sheryl Nicholson 727 7294937