Karen Milde, Reframe Marketing, Vancouver, BC, CYBF Mentor
The key to maintaining sales momentum is having a plan, following it, getting people to help you execute on it and of course measuring success.
Far too often I see owners be reactive rather than proactive in these situations, meaning when sales are steady or increasing, s/he scales back on spending rather than re-investing some of those dollars back into boosting sales even further for the future. In my experience, I’ve found that owners need reminding that there are down times in a business and they need to invest in order to prepare.
What’s worse is when sales are declining or at a halt. Owners don’t want to spend anything at all but want to somehow miraculously change the direction of the situation. My advice to owners – change the way you operate and create a plan where you continually reinvest back into your business, such that you don’t need to suddenly come up with big injections of capital to turn things around.
As an owner, you need to be flexible and open to changing the way you operate to remain competitive. Don’t be afraid to take calculated risks and pull in the experts to help you with those decisions.