As one of the dirtiest words in the profession of selling, a “slump” is a sudden decline in productivity that we all would like to avoid. Professional salespeople that are advanced enough to keep detailed records, charts or regular reports can often see a slump coming and make adjustments before it gets out of control.
There is no doubt that for many of us the business climate is changing. Fuel prices, the economy and the green movement have affected many in our industry. So what do you do?
Business and life are constant roller coasters, made up of climbs to the top and those sudden challenges that can cause a downward slide. You cannot get caught up in depression and whining during tough times. These challenging markets can actually create opportunities for those who buckle down and look for ways to separate themselves from the competition. Remember, a tough economy is often the market’s way of “thinning out the herd.” Re-evaluating your business goals and identifying the best use of your time and promotional dollars will make you a stronger organization. The strong do survive!
Don’t shift into desperation mode! You can’t halt efforts to promote or advertise your business. Yes, evaluate where you advertise, and maybe change the advertising message or featured product. Freshen it up! Take a look at your showroom, retail floor or shop. It may be the right time to clean up, reorganize, and update the appearances of these areas.
Be careful how you approach your important vendors. Don’t make a rash decision to package up inventory and begin returning it to your vendors. They are just as affected by the market as you and they will be much more responsive to those businesses that ask for assistance with innovative ways to promote their products rather than returning them. Remember: the slump won’t last forever, and you may need their support in the future.
Make sure that you set realistic goals about these changes and share them with the entire staff. Assign each person in your organization with a task or duty that helps the entire organization get closer to the goal. Often, you will find that re-grouping with a common purpose is just what the doctor ordered for getting your business out of the slump.
There are a few more steps that you can take to lessen the blow and move toward a more attractive sales graph.
