Last October, during a recent Around the Horn session, a business owner asked what he could do during a slow period.
- The first suggestion was an obvious one — don’t stop marketing your business, both in high and low demand periods.
- The next recommendation came from a group member who works as a professional presentation instructor: Take the show on the road and make presentations at trade shows and conventions.
- A marketing consultant commented that if the business owner hunkered down in difficult times, it’s already too late. Instead, they should have taken steps to make themselves top of mind, thus farming referrals during the good times.
- Another idea was to use interns to do prep work so the business owner can do more important things.
The corollary is you should always have a full pipeline. Track your referrals! I always say, “If you don’t know where your referrals come from, track your business and you’ll find them — then be good to those who refer you.” In other words, give them referrals when appropriate or do something nice for them so that you stay top of mind.
What do you do during a slow period in your business?
President of Network!Network!
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