by Jamie Barrie R egardless of the product or service that you sell, there are going to be ups and downs in your business cycles for any small or medium sized business. So these are the times to take advantage of the slow periods to keep your brand going. A lot of businesses that we speak with feel as if nothing is happening during the summer months with their clients, partners, and employees being out of the office on vacation. The interesting thing is that most successful entrepreneurs and business owners use this time to focus on actions that will grow their businesses and brands. These are some things that you can do when business is slow to grow your business and get ready for when the phones are ringing and everyone is back off holidays and are looking for your products or service. Take advantage of slow times, to build a better business and brand
Nail your Customer Attraction Statement Who really benefits from what you are offering? What problem are you solving for people? Take this time to make sure you are very clear on these things as it will help with meeting your adjusted goals. Research and Product Development This is a great time to develop that product you’ve been thinking about. There are fewer distractions and you have more time to focus on the product or new service. This time will also allow you to look at the industry and see what changes or trends are happening and work towards getting your company ready to meet those challenges. Check in on your finances To do this, ask yourself these questions: • How are you doing sales-wise? • What about expenses? How do these numbers compare to last year? • What can you do to improve these numbers? Professional and Personal Development Read a book, take a class, attend a seminar or read some blogs to improve your skills in a specific area of your business that might be lacking. We would recommend that you are always doing this even in your busy times. Take a vacation If this is routinely a slow time for you, take a vacation! It will give you a much-needed break from working hard the rest of the year. You’ll have the opportunity to recharge your batteries and will come back to work with a fresh perspective! •
Make a plan to grow your business To do this, ask yourself these questions: • What do you want to achieve for the rest of the year? • What actions do you need to take to get there? • What do I need to make this happen?
If you already have a plan in place, revisit it and assess how you are doing, this is a great time to tweak your strategy to finish off 2019 strong and get ready for 2020 as it will be here before you know it. Plan out your year Make a list of goals you had for 2019 and theones that youwant to accomplish in the coming month or set targets for the new year. Setting a target or goal is great but you also need to timeline along with your plan what will outline what and when it needs to be done to accomplish your goals.
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SPOTLIGHT ON BUSINESS MAGAZINE • SEPTEMBER 2019
63 SEPTEMBER 2019 • SPOTLIGHT ON BUSINESS MAGAZINE
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