What to Do When Business Hits a Slump

What do you do when your business is not doing so well, and your statistics are heading the wrong way?

The first thing people often do is stop advertising and promotion. It costs money, and money should only be spent on vital functions.

Huh?

The most important action

When you are in a slump, the most important and primary action of your business is to advertise and promote!

Advertising and promotion are the first actions that give you more customers, which means more income.

They let people find out about your service or product so they become interested enough to talk to you about it. If you do not let anyone know you exist, and what you offer, you will never get new customers.

Yes, sales people do the selling. But even sales people need prospects.

And where do you get prospects?

Right, from advertising and promotion. Someone hears about your service or product and contacts you. Then your sales person can sell it. Easy peasy, as my son would say.

When this does not apply

All of this presumes you are in a slump because you do not have any work on.

If you are in a slump because you are simply not doing the work you do have, that is a different story. Then your primary action is to produce.

What comes next

Once you have advertised and promoted, you then investigate the cause of the slump in the first place, and do a handling to change it.

In the first instance, do not worry about the quality of your advertising and promotion. Just get some done. Once some is going out, you can spend more time improving it, so you get a better and better response.

I am a bookkeeper, not an expert in advertising and promotion. But I have my own business, and I have seen first-hand that this rule works.

Just get some done. Try it!

As always, keep it simple and... Flourish and Prosper

Lisa