In running a business there must be a phase where the business is slowed down. In that phase you might have more time to think about how the business can run stably. To that end, here are 7 things to do when your business slows down.
1. Re-evaluate who you are
what you do and so on. The key to success is having a clear sense of your goals, vision and mission.
You must do this for yourself individually, and then apply the same reevaluation to your business, and also your team. Also consider your leadership style, your communication skills to see what needs to be improved.
2. Review the process that allows you to get things done
You will usually find that at least some of them are activities that get you closer to achieving your goals. Discard this immediately.
Other processes may need a little adjustment. Also consider your process to be eliminated a few years ago. Has anything changed that might guarantee bringing them back? All processes must have one thing in common: They advance you towards achieving your goals.
3. Look for new services and products offered, new sources of income
This is where you have to put your creativity hat on. Start with your current offer, and look for extensions, for complementary services or products.
Think about your clients and their needs and problems. What is necessary and the problems they have maybe you can give a solution.
4. Get training or coaching
for yourself and your employees to develop new skills.
5. Strengthen existing skills
This skill is often forgotten when we think about personal and professional development. But they can’t. Just because you’re good at something doesn’t mean you can’t improve. Remember, success is all about improvement.
6. Reconnect with people you haven’t talked for a while
This includes clients, prospects, colleagues, friends, sometimes even family members. You can generate new business, and you will definitely generate new ideas on various topics.
And you will feel better to do it. Don’t use email or text, because talking to someone on the phone or seeing that someone in person is the best way to reconnect.
7. Refocus your marketing
This kind of training might be ignored when you’re busy. But, marketing is very important for the success of every business, team, or project. We need to continue to market products, services and ideas.