While it’s never welcome and can be painful, economic downturns can also force companies to get lean and mean – which leads to improved performance on the other side of the slump. The trick is to get through the low points.
Over at About.com’s Small Business Information portal, Darrell Zahorsky shares strategies for small businesses experiencing a sales dip.
To survive the sales slumps, Zahorsky says businesses must:
- Go Back to the Basics: Examine your store, your sales team and every other aspect of your business. One area to think about is whether or not you’ve adjusted your approach to fit the needs of your customers today.
- Take a Hard Look at Customers: If you have clients who use up time and resources with little or no profit, you may want to set them loose. Focus on your customers that appreciate your business and are profitable.
- Trim the Dead Wood: The current market requires professional sales personnel. Evaluate your under performers, support, and coach them. If they can't learn the necessary skills or are unmotivated, it may be time to part ways.
- Extra Tip: But consider that option carefully and make sure whatever decision you make is communicated effectively to your staff. You don’t want a necessary cut to damage staff morale.
Huddle With Your Staff: Hold regular meetings. Spend this time to role-play skills, share best practices, have fun, and give a motivational boost.
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