Winter 2009

Dealing with Downtime in Your Business

Like most retailers, the holiday rush has now died down and you are looking to take stock and regroup for the new year. Here are some tips for taking control of your downtime while creating business for ’09.

Take stock of your products. Be very specific as to what worked and what did not. Decide what to keep or get rid of. You may need to give up a pet product for which there isn’t a viable market.

Get organized. For example, budget time to update your customer mailing list. Learn a new database or contact-management system that will improve access and maintenance, so that you can communicate quickly and easily with your customers.

Attend a professional organization’s holiday events. If you only want to go to one such event, pick the group whose function you’ve been meaning to attend but haven’t, as yet. You’ll make new contacts and possibly gain new perspectives and ideas for your business.

Reconnect with your professional and personal networks. Update them on your business progress. Explore how you might do some strategic partnering. Out of sight is out of mind. Your contacts won’t refer business to you if they haven’t heard from you in a year. Reminder: It’s best to do this regularly throughout the year. Set aside time each week for networking. Write it in your calendar now.

Write a newsletter. Plan to produce a monthly or quarterly newsletter. If this is too daunting, team up with an owner of a complementary business and produce a joint newsletter. Pick a theme for each newsletter and contribute information from your unique perspectives. Business owners I know who write regular newsletters say that they gain new perspectives and ideas for their businesses and that their volume of business increases significantly after each newsletter.

Request testimonials from current and past customers. Besides making you feel better when business is slow, you will have testimonials on hand to share with prospective customers to include in a new ad or other marketing materials. An easy way to get your request returned is to include a form with one or two questions for your customers, asking what they liked about your store. Be sure also to include a question about what they would like to see improved. Include a line for them to sign to grant you permission to use their testimonial in your materials. Don’t forget to include a self-addressed stamped envelope.

Review your business and marketing plans. Revise as needed. Write your goals for the year. Then write the steps you need to take to reach those goals. Put benchmark dates in your calendar to check up on yourself. Make a specific, prioritized, action-item list now.

Put balance in your life. Spend more time with your family and friends. Do those leisure activities for which you didn’t have time during the year. Relax, and give yourself permission to enjoy your time off.

Plan ahead for the slow season next year. Project how you can meet your financial goals during the rest of the year. Take a well-earned vacation.

Adapted from THE ACCIDENTAL ENTREPRENEUR: 50 Things I Wish Someone Had Told Me About Starting a Business © 2008 Susan Urquhart-Brown — All rights reserved. Published by AMACOM Books

Susan Urquhart-Brown is a business coach, who offers individual coaching and success teams for independent professionals who want to attract their ideal clients and build a profitable business. Susan’s business coaching expertise includes break through barriers, communication and negotiations skills, goal setting, business planning, streetwise marketing and accountability for success. Susan has 20 years of experience in career consulting, micro business coaching, marketing, speaking and training and has an Master of Arts Degree in Career Development from John F. Kennedy University. Susan is an adjunct instructor at Santa Clara University, University of California-Berkeley and John F. Kennedy University.