5 Things to Do When Business Slows Down

I’m sure you’ve seen it happen every year: your business slows down predictably during certain times of the year, like the summertime months or the holiday period at the end of the year.

For entrepreneurs who rely upon steady cash flow, this can be an uncomfortable time.  You can wonder whether you should just take time off until things naturally pick up again, or should you try to find the hidden business and income opportunities that might be out there during slow times?

This year, dare to be different! Instead of floundering in no-business-never-land, grab your business by the reigns and spend this time doing something that supports and builds the foundation of your business so these natural rhythms of a business cycle don’t slow you down.

  1. Organize your working space. Go through all the piles and files of papers that have been sitting around and get rid of them once and for all. Remember this useful mantra: do it, ditch it or delegate it. Once the area is clear, continue with dusting and vacuuming. Finish by reorganizing your work space so you can find everything you need quickly and easily.
  2. Take a mini-vacation from work. Walk away from your work and enjoy a day or two of renewal, relaxation and return rejuvenated. Visit a day spa. Take a weekend away at a nearby retreat. Go for a day hike. Take a drive.
  3. Get your books in order. During the slow times use it to do your accounting and bookkeeping. Doing this will have you prepared for tax season when it arrives…it always comes sooner than expected!
  4. Send clients and your team cards and gifts. If the slow time falls around the holidays, use them to your advantage. Get into the holiday spirit with your clients and team by mailing holiday cards and gifts to them. Make specially discounted holiday offers to clients/customers. Offer them gift certificates they can give to their family and friends for your services and products.
  5. Review your goals. Take this downtime to look at your current goals, to see how you’re doing and to write some new goals for the next 12 months. Complete a Life Wheel and get a current snap shot of your life and business. Doing this helps to identify where you want to create more balance and to set specific actions to reach your goals. Be sure to set specific check-in dates to appreciate your progress and set specific deadlines for taking actions.

There’s no reason that downtime in your business needs to become wasted time.  By taking advantage of the change of pace you will flow naturally and productively through your business cycles.

What are your “go to’s” when business gets slow?

I’d love to know!