Are you having a summer sales slump?

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Are you experiencing a sales slump?

Hi, this is Judi Otton with GrowthCast, and I’ve actually talked to quite a few business owners lately who are undergoing some sort of summer sales slump. And I’ve got a few tips if this is the case for you as well.

First of all, make sure you’re doing whatever has worked for you in the past, one of these business owners had undergone some personnel changes and their marketing has really fallen off. They were sending out regular newsletters and had a Google ads campaign that generated lots of leads for them. But if they’re not doing it, they’re not getting those leads. So they needed to recommit to doing the stuff that worked.

Second of all, if you are doing what worked in the past, maybe, unfortunately, it’s not working anymore. Try something new, refresh your ad campaign, or do something different. Go to another networking group if that’s a way that you get your leads or try a newsletter if you haven’t done that before, but try something new. Get creative.

Third, if you are at the point where you don’t have any other things to try, cut costs where you can, where they won’t impact your sales or marketing efforts. There may be things you’re spending on that you could cut temporarily that aren’t gonna have any negative impact on your business.

Fourth, if the slump continues, make sure you know how much runway you have. Meaning if you didn’t make any more sales, how long could you live with the money that you have in the bank or the money that you still have to collect? Not that that’s likely to happen, not making any more sales, but you just want to have a good idea of what that time frame is.

And finally, while it is slow use that time to reinvest in your business, whether it’s up-leveling your skills or your team skills, whether it’s implementing new processes or systems or other strategic initiatives.

I know these sales slumps can be scary. But if you keep working at it, keep trying things that, you know, have worked, try some new things, you’ll get out of the slump.

This is Judi Otton with GrowthCast and I’ll see you next week with a new Fiscal Fitness Tip of the Week.

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