In my previous posts I’ve talked a lot about how in the past, I’ve given up more times than I can count. I’ve been thinking a lot about that lately. It always brings me back to the same question – how do you handle the lulls in business? Because, they are inevitable. I think it’s very rare to find a business that is booming 24/7, 365 days of the year! Those who find that fortune should perhaps pray to stay that lucky. However, for more entrepreneurs it’s just not the case. Myself included.
In those times where things slow down and results are not coming in the way we are used to, sales are down and we more or less find ourselves kicking the tires of our business, what do you do?
That’s the real test of a business.
Of course, it takes financial planning (or it should) to be able to remain in business during those times. You should always have enough money in the pot to get you through a certain amount of time. But that’s not really the side of business I’m referring to. I think it takes a real mental toll on someone when they start to see their results slow down, especially for those who are new business owners.
It’s SO easy to give up. As we all know, I’ve been there, done that and bought the t-shirt. (And written countless blog posts on it!)
It’s the perseverance during those times that allow us to grow.
I also think that smart business owners not only stick those hard times out but they also recognize that their work doesn’t slow down because just because the sales did. When it’s quiet, it’s a great opportunity to reassess where you’re business is at.
- What advertising can be improved? Create some new ones!
- Where are you spending money that you maybe can cut back?
- Where SHOULD you be spending money that you’re not?
- Refresh your email series.
- Check in with your customers/list and just touch base.
- Update the look of your website.
Plus so much more….
Business is a lot like a roller coaster. The first time you get on a brand new roller coaster, you’re excited and your adrenaline is pumping. However the ups, downs, twists and turns can be a surprise but after you ride it a few more times, you start to learn when those dips are coming and it allows you to plan accordingly. There are a ton of things that you can do during the times of quiet, especially if you plan it right and remember to take advantage of every opportunity.
Definitely don’t quit. Don’t even nap during that time. Your competition is always around the corner, waiting for that moment for you to close your eyes. In fact, they are counting on it.
I know I write a lot about perseverance and not giving up but it’s because of personal experiences that I often find myself reflecting lately. I’m determined not to repeat the same mistakes. Many of these posts serve as a reminder to myself as much as my readers.
I hope you can find some inspiration or suggestions from them.
It’s ironic that @ph1102 created his last video saying that I inspired him to do that based on my “Dear Diary” blog post and yet his video inspired THIS blog post. When he created his video, he was sick and not feeling well yet determined to complete it and it got me thinking about perseverance and what that means and how we as entrepreneurs handle adversity.
So thank you, Zoltan.