When Revenue is Slow, Do These 7 Things

This year, spending by companies and organizations is in full swing. But the sales cycle itself is taking a bit longer as leaders grapple with the complex interdependencies of so many projects and initiatives.

If your pipeline is a bit sluggish right now, here are 7 things you can do to get some momentum going.

Thing 1. Don't stop taking action.

When it seems like nothing is working, it can be tempting to feel like "giving up" or going into analysis paralysis. But that's the worst thing you can do. Any break in proactive action will only exacerbate a situation.

And often, what you can't see are the ripple effects of your actions that are already working on your behalf beneath the surface.

You just have to trust into it and keep going.

Thing 2. Work hottest to coldest.

As a rule, the fastest injection of cash flow into your business will come from those you have the warmest relationships with.

Current clients, recent clients, long-lost clients, prospects who were interested but then delayed or went cold, past co-workers, etc. Focus on outreach to these buckets of connections first.

Thing 3. Let your network know you have bandwidth available.

Don't underestimate the power of a quick "fly over," letting your network know you currently have bandwidth available if they need support. You wouldn't believe how often your clients, past clients, and others in your orbit will not reach out because they think you are "just so busy."

Ironically, your social media feeds, which highlight all of your success, contributes to this persona of busyness. So let them know you have time for them.

Thing 4. Focus on "easy yes" gateway offerings.

A lot of consultants, coaches, and other small business owners make it hard for prospects to buy from them because they don't provide "easy on-ramps" to getting started. Instead, they speak generically about 30,000-foot level problems that they solve, such as employee retention or well-being or quality assurance.

Instead of making it a science project for your right-fit clients to figure out how to work with you, let your network know of 5 to 7 specific, tangible things you can help them with... and/or things you can do for them... things that would likely be on their task lists and/or company calendars over the next 3 to 4 months.

Thing 5. Dig for gold where you found it before.

It's easy to forget to keep doing what has worked in the past.

Review your revenue from the last 3 years. Identify, specifically, where each and every one of those paying clients came from.

Then simply: wash, rinse, repeat. Someone sent you a referral? Reach out and update them on what else your firm is now providing... or a recent success that you had, while letting them know you have bandwidth available.

Leads came from a local Chamber or networking group? Re-engage.

There was a prospecting email you sent out that worked? Recycle it.

Thing 6. Reconnect with seeds you haven't watered in a while.

Do you have business cards (or the digital equivalent) hiding in your desk drawer or contacts list that you haven't followed up with in... well... never?

Did you host a webinar but other than mass marketing emails, you never did outreach? Have you interviewed leaders on your podcast episodes but other than one follow-up conversation it never went anywhere?

Did you once work with individuals vs. with companies... but you've never reconnected with those 1:1 clients about how you could help the organizations they work for?

Now is the time re-water all of those seeds.

Thing 7. Grow in your own backyard.

Two things to remember. First, organizations can't buy from you if they don't know about you. Second, leaders still love working with experts that are local to them. (It's a human nature thing.)

As you focus on expanding your reach and engagement with those who don't know you yet, look first to your own backyard.

Disclaimer: The above is obviously not a full, long-term strategy. But rather a "rapid response strategy" you can use to get things going if they're slow right now.

If you want to build out a full strategy for your expert-based business, be sure to join us at BoldHaus Groove this November 11 - 14, 2024.

Learn more at BoldHausGroove.com.

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