Message of the week 18 - 22 November 2019
Week 47 | 2019
Riding the ebb and flow
If you’re anything like me, when business is booming you think about all the creative/interesting/challenging things you could do if only you had more time. But when things slow down, energy turns to frustration because ‘nothing is happening’ – not even the fun projects you thought you’d be enjoying in your freed-up time.
It’s natural to panic when you hit a downturn, but every business is seasonal and it’s best to keep constructive and concentrate your energy on activities that will be beneficial to business, in the near future. If you’re short of inspiration, this article offers a lot of positive ideas. For me, the following points are most pertinent:
- Marketing: Quiet times are the best time to up the ante on your marketing efforts and to experiment with what works and doesn’t. This could include creating fresh blog content or offering a free downloadable resource to attract prospects to the website. It’s also an opportunity to network and polish your personal brand. The better known you are, the more opportunities you’ll have to punt the brand.
- Upgrade your business model: It’s important to stay relevant in an evolving technological market. This is about more than updating products (although this is also necessary) and plays into constantly reflecting and refining the business model and the processes that support it.
- Email past clients: Keep in touch with past clients. By pre-empting their needs, you’ll be top of mind when they are ready to upgrade their products or implement new document management processes. While you’ve got their attention, you can use the opportunity to ask for a testimonial, which can add credibility to marketing material and pitch documents.
- Do your research: Take a look at what your competitors are doing, as well as what is working for them. Find a way to improve on it. You can also speak to your peers in different industries: How do they solve problems and what might be applicable to our business?
Being able to ride the ebb and flow of the business cycle is a skill and one that allows you to be on top form for when things pick up again.