One of the biggest struggles of entrepreneurship is getting out of the feast or famine mode. Sometimes it seems like we're either drowning in work or business is slow and we're wondering where all the clients went!
Unfortunately, summer tends to be a famine time for some businesses because our customers are off on vacation or outside having fun, not investing in coaching or whatever our product or service is.
So how do we avoid the dry season during the summer months? How do we make the most of times when business is slow?
There are a few different approaches I like to take.
How to Prepare for When Business is Slow (and Make the Most of it)
Saving money for a rainy (or sunny) day is always a good idea. If you know when business tends to be slow, keep that in mind during the busy seasons so you can sock away some extra money to get you through.
This is something you should be doing in your business anyway, whether you're expecting a slow season or not.
Here's a tip: You should ALWAYS expect a slow season, because they happen. Savings can mean the difference between feeling pinched financially or having the freedom to use the slow times to your advantage.
Even if business never dips, a financial cushion gives you the flexibility to take time off or take a step back to work on new projects without having to stay in hustle mode to bring in new business.
Prepare to cut expenses
If you're paying for services that you aren't using, now's a good time to cancel. Take a quick look at your finances and see if you have any financial leaks that you could eliminate for a quick boost in your bottom line.
Change up your offerings
Is there a product or service you could offer than might sell better in the summer? Maybe you notice that people tend to buy less coaching in the summer, but maybe your less intensive ecourse or ebook sales stay pretty steady. Why not promote them more? Clearly people still want them in the summer, so make sure they're at the front and center of your product suite when people are most likely to buy them.
Take advantage of seasonal marketing
Think of occasions in the summer that you could harness to naturally boost sales. Would one of your products make an awesome Father's Day gift? Make sure to mention it in your marketing message! Is your ebook a fun read that could be accomplished in an average plane ride? Point that out!
Find a new set of customers
If you're focusing on customers in your own country, why not use this time to branch out to customers in other countries with different cultures and seasons?
For example, if you're in the US and most of your customer base is also in the US, you might see a dip in the summer because that's when most of your customers are doing other things.
But what about potential customers in the southern hemisphere, in countries like Australia where the seasons are the exact opposite of the US?
Some things are the same wherever you live (like the holiday season and New Years), but summer vacations are different in the southern hemisphere. This might be a great time to tap into a new market!
Create something new
If you have the financial cushioning to take advantage of the slower season, this is a great time to work on something new like a course, a book, or a massive reorganizing project. If you've been putting off a big project that could make a huge difference in your business, now's the time to make it a reality!
If your client base is on vacation, you can always follow suit and take some time off! I find that some downtime and a change of scenery recharges and refreshes me, and I always come back feeling more creative and energetic.
Book a strategy session
Your business is unique, and what works for one business might not work for yours. Why not invest in a session with a coach who could tailor some strategies to your business?
The occasional slow season is just part of running a business, but a little planning, preparing, and structuring goes a long way! I'd love to help you structure your business so that you're ready for dry seasons, so that you can avoid them altogether, or so that you can actually take time off to rest or create new products.
I'd love to help you reach your business goals. Let's talk!