5 Things You Can Do When Business Is Slow

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IntelligentHQ
5 Things You Can Do When Business Is Slow

No matter how slick your operation is, it is not uncommon to experience periods when things slow down. One day you may be inundated with projects, tasks, and meetings, and the next you may not get a single call. If business is slow and you’re beginning to panic, here are five things that you can do to get your company back on track as quickly as possible.

Reach Out to Past Clients

Sending out personalized emails or a phone call to past clients can be a great way to get the ball rolling and remind them of your services. A friendly email to indicate that you’re available for work can go a long way and help you when business is slow. If clients are in need of new work, you may get an opportunity to work on a new project. The last thing you should do is bombard past clients with email after email, so keeping things short and sweet. Being professional and attentive is key.

Update Your Online Presence

In the modern world we live in, just about every business has some sort of online presence. If your operation is sliding and you aren’t sure how to bring new clients on board, spending time creating valuable content to publish on your website and blog should be the first place to start. Developing a digital portfolio can showcase what you’re capable of, helping to draw in new business. There are lots of approaches that you can take, such as setting up a Facebook business page, writing, and scheduling blog posts, as well as providing regular social updates. The more active you are on social media, the better. Using SEO tactics can help to boost your search engine ranking, meaning clients are more likely to seek you out over competitors.

Keep Costs Down

If no work is coming in, day to day costs can soon add up and eat into your business budget. To keep costs down, there are several things that you can do, such as reducing supplier expenses and lowering financial expenditures. Cutting utility costs is a good place to start, so make a long-term plan for your business electricity expenses and switch supplier if necessary. The more money you can save, the easier it will be when going through a slow period.

Learn Something New

If you’ve found yourself with more time on your hands, instead of twiddling your thumbs, why not see the situation as a positive? No matter how long you’ve been in the business world, there is always something new to learn. Whether it’s by taking a class, obtaining a certification or learning how to use new technology, broadening your skillset can help you reach out to more clients than you thought possible. Boosting your resume can only be a good thing and help you come up with new ideas that can turn your business back around.

Research Competitors

Regardless of what field of business you’re in, you probably have many competitors who are fighting for the same consumers. If you’ve found yourself in a sticky patch, a little bit of research into other businesses can prove highly valuable. Seeing what tactics they use to draw customers in can help you generate new ideas that will benefit your business. There is a fine line between getting inspiration and outright copying, so to avoid a potential lawsuit, putting your own spin on things is important. Creating a unique selling point will set you apart from other businesses.

While we would love nothing more than to be swamped with work as business owners, if you’re going through a slow period, taking any of the suggestions above on board can help you stay in the driving seat and get business booming again.

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