How to Benefit When Business is Slow
One of the features of running your own business is the whole feast or famine aspect when it comes to getting the flow of work right. There will always be down times when the amount of work coming in is slower than you’d like; conversely there will also be times when several pieces of work all come in at once.
How can you turn this unpredictability into an asset? Firstly, always try and agree mutually workable timescales with your clients. Unless the work absolutely has to be done yesterday, and we’ve all had those sort of clients, then agree something that works for both of you. Always bear in mind your existing work commitments and how you can work around these. However, if the deadlines don’t work out and you know you will be unable to complete all the work in the time, then consider if any part of the work can be outsourced.
When things are slower, use the downtime to your advantage by planning ahead. This is the time to do your research into subcontractors or other businesses who might be able to help you out in future. Consider where you can outsource some of the main aspects of your business by collaborating with other businesses you trust. Alternatively, look at outsourcing the peripherals – a virtual assistant, for instance, can take some of the routine administrative tasks off your hands. Build the relationships now so that they’re ready to use when you need them.You can also use the quieter times to build up a reservoir of articles, blog posts and newsletter ideas to draw on in the future. If you use social media, put together a list of tweets and Facebook updates for future use so that you can keep your on-line presence constant during the busier times. If you need to do work on your website, this is the time to do it. Use Google Analytics and other tools to look at your on-line presence and analyse what is working for you and what isn’t. Take the time to put the systems in place that will make your life easier, but which you don’t have time to do when you’re busy.
If you stop thinking of slower times in terms of billable work and instead see them as an opportunity to plan ahead, you will find yourself much better placed to deal with the busier times when they come. Maggie Berney