Summer of 2019 has been a slow time for many. Most of my friends are business owners spanning a variety industries. A good friend of mine is a top agent for Coldwell Banker Gundaker and for the first time in a long time she found her self cold-calling.
It’s been a great summer- for clients traveling!
Many therapists experience a summer slump too. Everyone seems to be on vacation and new client calls, for many, can be MIA. If you do not experience a summer slump, good for you! Slow periods in a business may not happen predictably for everyone, but here are some tips to prepare for when it does:
A mistake you will end up regretting is not having a plan in place for if or when your business slows for seasonal or any other purpose. Every tip I have falls under PLAN PLAN PLAN.
Things you should be thinking about and implementing are:
- Personal Savings
- This is the money you will have accumulated over time for a rainy day- like a slow summer or holiday season. To do this you can set yourself up with a payroll company like Sure Payroll and have a percentage auto deposited into a savings account OR you can manage all of that yourself manually.
- Business Savings
- Always keep some dough in your business account for marketing and what not- memberships, continuing education, paid ads, etc. Have a budget and leave a little cushion for those times where you need to beef up your game in the market to attract new clients. Paid Ads is the best way to get clients fast- besides being paneled on insurance. Both have benefits and drawbacks.
- Staying Connected to Referral Partners When You Are Slammed
- It is easy to lax on your networking and relationship building when you are flourishing but stay in contact with your colleagues. Those relationships will help you feel grounded and be possible referral sources.
- Have a Solid Marketing Plan You Can Count On
- Have a plan for how you get your name out there and be consistent. Tracking your results will help to avoid the uncertainty when you are slow. Numbers don’t lie and will give you comfort or valuable information.
- Things to Do With Your Down Time
- After you’ve made a plan and implemented it, it is time to enjoy your downtime!! And you CAN, because you have made a plan, so you feel confident and comfortable with slow periods. Instead of a calling it a slump, you will begin calling it self-care or me-time! How beautiful.