Here are 7 positive things you can do when business is slow. Today I want to talk to you about how to handle the highs and lows of business. There will be times when you want to through in the towel, don’t!
You see, business is rarely ever all good or all bad. I’ll say what most business owners won’t. Business is filled with a lot of highs and lows. The balancing act is real and can cause a bit of stress.
It’s all about setting realistic expectations. When you’re first starting out, you’re on autopilot. Moving at warped speed and expecting everyone to buy, buy, buy. As time goes by, you expect the autopilot work you’ve done to sustain you. It won’t.
7 Positive Things To Do When Business is Slow
You will be getting the word out about your business (hardcore) for 2-3 years. It may even take longer. Remember, during those years others will be starting their businesses. Yes, competitors will be entering the marketplace.
- Gather all the facts about your business and product (cost & pricing)
- Contact loyal customers regularly
- Keep building your mailing list
- Don’t be complacent (never think enough is enough)
- Engagement is key (get out there and talk about your business)
- Create a monthly campaign to spread the word about your product
- Donate your products to charities and nonprofits (Who will learn about this? Consumers in your community, of course.)
- Make appearances (Showtime!)
When Business is Slow: 30-Day Marketing Strategies
You may think 30-day marketing engagement is unrealistic. If you’re not able to do something every day, try to post and engage with the consumer every week.
Find out which social media platforms your customer uses and stroll by. Post, engage and offer relevant information. Don’t try to be everywhere, you will burn yourself out.
This video was directed at a chocolate maker, but anyone can use the suggestions in the video.
Looking for some ideas you can implement right now? Are you on Instagram, create an account? Using the Story app for Instagram, create a story once or twice a week. You can even do this while you’re in the kitchen making your product. Interview a guest or a customer who purchased your product for an event. The videos need only be 10-15 seconds. Have fun with this.
Contact food writers or bloggers. Do you know the local writers or bloggers in your community? Let your fingers do the walking through Mr. Google.
When Business is Slow: Check out the 2020 Best Bloggers on Feedspot
Find local and featured bloggers by searching your industry. Bloggers and local lifestyle writers are always looking for new products and interesting makers and bakers to showcase.
Don’t stay on a high too long
One of the biggest problems small business owners have is they tend to stay in their highs too long. For instance, someone starts a food business, has a big grand opening party, and then they keep partying for three months. The person looks up three months later, their party stops because they go out of business. The excitement is centered around the fact that they opened a business. You just stayed on that high for too long.
When Business is Slow
Operating your business is the toughest thing you will do and if you have a hobby mindset, success is not in the cards. I once read that business is like a heartbeat, it goes lub-dub, lub-dub, lub-dub until it stops. Moral of the story, you have to learn how to manage the highs and lows of business. It’s never a good idea to spend too much time focused on either the highs or lows of business. It’s a serious balancing act and you can do it!