1. Add to your product and service range with new and improved items: While it’s sometimes a costly and time-consuming task to develop a new range, it doesn’t always need to be. If you’re in a rut, take look at what works and then play around with drawing and construction and the like. The end of the month is often a great time to launch initiatives and new products. It quickly sets the tone for the year and gives customers an idea of what’s to come. It’s all about timing, but at the end of the day it could plump up your sales very nicely.
2. Everybody loves sales and promotions: They’re really easy to do and you can quickly clear your shelves of stock that are dated and old or that you just couldn’t get rid of. It’s a favourite with clothing stores, who will have a massive “clear out” sale where items can be marked down by ridiculous percentages. It doesn’t end there, though – companies that specialise in administration often offer special prices on their services for new businesses. The period of time just before payday is perfect for these slump-busting methods because money’s tight and reduced prices work like a homing beacon.
3. Manage your time: One of the biggest problems with not getting out of a slump is that your time management becomes even worse. It’s important that you use time properly at the best of times, so think about ways to keep busy. Evaluate inventory, prepare for new customers, sort out that desk full of admin that you’ve been neglecting – you’ll love yourself later for doing this now.
Everyone goes through a tough period where nothing wants to go right, especially after the frivolities and consumer madness of the start of the month are over. You can get yourself out of these slumps by following the saying, “Don’t work hard; work smart”. Look around you and search for opportunities. They’re there – you just need to find them.
Source: Article by By Craig Falck for Africa Report