How To Handle Your Small Business' Slow Seasons

In many industries, the summer months are synonymous with slow or quieter-than-normal periods of growth.  Sales and new business acquisitions sometimes “slump” in the summer months as many people let their endeavors hit cruise control so they can travel or vacation.  Regardless if it happens during the summer or over holiday periods, most businesses will experience financial ups and downs throughout the year – times when sales are booming and when sales are in a drought.

As a small business owner, it’s a good idea to have strategies for handling slow periods or deviations in your business’s path toward success.

1. Reframe the Slump

A slow period in your business can feel discouraging and stressful if you are not prepared for the rollercoaster of peaks and plains.  But with some imagination and a reenvisioning of the situation,  a dip in productivity could be just what you and your business need to thrive in the coming days.

Reframing changes how you look at something.  Changing how you look at something can, in turn, change your experience of it.  Psychologically speaking, the concept of reframing identifies an experience, event, or situation and works to restructure the instinctual ideas and emotions associated with it.  This changes - or reframes - the way the event is experienced.

If the idea of a slow season or “slump” causes you stress and anxiety, it is a good idea to develop a practice of reframing the period as an opportunity to rest, reset, and take time to strategize.  Instead of allowing yourself to feel demoralized or mired in the negative thought of “business is down,” you can reframe the thoughts and feelings accompanying your profits dip.  Consider instead: “this slow period is giving me the time I needed to focus on the company’s long-term goals.”

If a dip in sales or profits occurs, reframe your disappointment.  The slower month(s) might be an excellent opportunity to take a breather and refocus your energy on creative endeavors like brainstorming.

2.  Don’t Panic.  Brainstorm!

If your business is experiencing a downturn in activity, don’t jump ship!  If your sales numbers or other measures of growth don’t line up with expectations or stay along trend lines, it might feel like changing courses or switching up your entire business model might shake off the slump.  But it is important not to panic.  Every business goes through slow, sluggish periods, and staying calm is paramount.   

Stay the course during slow seasons.  Decisions made during times of negative emotions (like stress or fear) are not usually the most prudent.  Remaining consistent in your approach - while thinking dynamically - is usually the better approach. 

Try to focus on smaller goals, change or tweak your routines, and remember to stay positive.   

Instead of throwing the baby out with the bathwater, use your quieter days to reflect and think more deeply about your business.  Slower periods can disguise a terrific opportunity to get creative and innovate.  The truth is, spending time brainstorming exciting new income-generating ideas can be energizing!   If the volume of your sales calls has cooled off as the dog days of summer heat up, you might find that you have the time to look critically at the business system that has been barely limping along.  This might be just the time you need to explore some of the newer tools and platforms that might better fit your business needs.  Which processes have you been wanting to overhaul to create a better customer experience for new and existing clients?  Is there a tool or platform you’ve wanted to try but have been too busy keeping up with inventory or invoices?

Take this time to automate some repetitive, administrative tasks, or think about what you could add to your marketing strategy that will resonate more deeply with your customers. 

In other words, when business is slow, use your extra time to examine and audit your processes, and think creatively.  Chances are, when things are quiet, you’ll discover opportunities to improve inefficiencies and find new solutions to old problems.

3.  Find Some Friends

It might feel like you are the only one experiencing a dip in sales.  Your financial situation is unique to you, and small business owners often feel alone.  But more than likely, others in your industry are struggling with the same issues and experiencing a similar slow season.  Now is a perfect time to explore new partnerships with like-minded companies that share your mission and align with your company’s purpose. 

Partnerships allow you to expand your business’ reach, potentially increase profits and revenue, and gain greater visibility.  They are also excellent sources for referrals and shared offerings!  Digital marketing and social media strategies can cast a much wider net when in tandem with an allied partner.  That is because when a partnership amplifies a shared interest and serves both companies, marketing capabilities are expanded, brand awareness is built and each company enjoys greater credibility throughout the business space.  One happy outcome of a productive partnership during a slow season is the synergy that equates to a more significant impact than that of a solo endeavor. 

Additionally, if your small business can identify and partner with an organization focused on doing good, you can become a force multiplier for that good.  These types of partnerships also have the potential to expand your reach into new customer areas. 

How? 

Aligning with nonprofits or local area charities can show your customers that you are looking outside your bottom dollar.  Invest the excess time and energy your slow season brings into the endeavors of a nonprofit by sponsoring events or hosting webinars or educational workshops on behalf of your new partner.  Your company can gain exposure, and you might earn respect and the business of passionate, loyal clients.

4.  Strategize and Prepare for Busier Times

Quiet times in business feel familiar.  We are all familiar with that weird downtime feeling.  You are at the airport, your plane is delayed, but you haven’t brought anything to work on or to occupy your time?  Slow seasons in business can feel like waiting times.  But a drop-off in sales doesn’t have to mean your productivity falls off a cliff.  Now is the time to organize your calendar, bank a billion evergreen blogs, and create a file of graphics that explain your services to your social media audiences. 

Small business owners often lament that they only have time to work IN their business, never ON it.  Now you’ve got some time on your hands to do just that.

Gather your team and plan the year to come with dedicated strategic planning sessions.  Revisit your budget and look for what areas need beefing up or where money might be being spent unnecessarily.  Take time to (finally) document the workflows that live primarily in your mind.  Dive into the data your business has been accumulating.  Sales calls, customer demographics, the average time from sale to delivery, marketing numbers, and statistics can help paint a more robust picture of your business.  Data analysis can help you identify patterns or potential problem areas.

Now is also a great time to look into additional training opportunities for your team.  Not only will they stay busy and feel less impacted by your business’s slow down, but they will also be better equipped to deal with future challenges.  Many online courses offer roust seminars to help fill technology knowledge gaps, and generalized writing and communications courses can also provide a long-term benefit.  Building a strong team will pay your business back in dividends for years to come. 

5.  Focus on Your Leadership

Finally, use your downtime as the perfect time to enhance your leadership toolbox.  If you endeavor to be a leader who inspires and unites your team through discipline and motivation, you must constantly strive to sharpen your skills.  Leadership helps provide a vision for any business, project, or venture, so having quality leadership skills is critical to successfully executing any strategy.  Good leaders can help their team navigate all types of fluctuating environments, negotiating opportunities and obstacles while keeping the end goal in mind.  If this quiet period is difficult for your business, your leadership skills can mean the difference between entrepreneurial success and failure.   Quiet times are the perfect opportunity to focus on what being a leader means to you.  Then, hone your skills.

Read a book, subscribe to a podcast,  or listen to an audiobook from a leader who inspires you.  Reflect on the life lessons you’ve learned that have led you to this moment.  Think about the best way to give your team members feedback, and request that they spend their quiet days providing it to you. 

By continually building your foundation and creating a more solid team, bolstered and empowered by your leadership, your business will sail through quiet times as effortlessly as it does during times of prosperity.  Use your business’ quiet stretches to strategize and regroup, re-prioritize and rest.  Doing so will ensure maximum growth and profit during your peak seasons!