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WHEN THERE IS NO OBVIOUS CAUSE FOR THE SLUMP
When a slump doesn't have an obvious cause, it's what I call a "normal" business slump. I've found best way to overcome a normal business slump is to take immediate action to develop additional business fast. The additional business supplements current light flow of business and eliminates impact of slump.
Here are 4 actions I take immediately when I realize I'm in a slump. You can implement these same 4 actions in your business to reverse effects of a business slump.
1. Develop a special offer for existing customers/clients. Use a short deadline so they must take immediate action or forfeit special offer. Advise them of special offer using a fast but inexpensive method of communication such as email, faxes, postcards or even phone calls.
2. Advise your recent prospects who did not take buying action of same special offer. Use same fast, inexpensive methods of communication listed above.
3. Call your best customers and ask for their help. Explain that business is slow and you want to use time to approach some potential new customers/clients. Ask them for referrals.
4. Temporarily increase advertising in media where it is seen immediately (or almost immediately). For example, website and ezine ads, newspaper ads, First Class direct mail or postcards, radio spots, etc.
Business slumps can be beneficial. Sometimes a temporary action you take to reverse a slump is so effective you decide to continue it after recovering from slump. The result is a permanent increase in your volume of business.
Bob Leduc retired from a 30 year career of recruiting sales personnel and developing sales leads. For more information... mailto:BobLeduc@aol.com. Phone: (702) 658-1707 (After 10 AM Pacific time) Or write: Bob Leduc, PO Box 33628, Las Vegas, NV 89133