Things You Can Do When Business Is Slow

Depending on the type of business you are in, February can either be a bumper month or a slow one. Half term holidays for example can often bring an abrupt halt to any hopes of gathering momentum when key decision makers are off on holiday but there is a lot you can do as an SME business owner during these quiet periods to bolster and reinforce your business.

If the phone has stopped ringing and you can seem to close any new deals then now may be a good time to take a good look at your company finances. You may well have built up some excess cash in the previous year to cover for quieter periods but when it comes to growing a business, you would also be wise to invest to avoid getting into the trap of struggling from one year to the next.

A good accountant should be able to help you with this. We would be delighted to hear from business owners who like to keep on top of things.

Business development is another area that can be neglected. Quieter times of the year are ideal for building up skills. You might also have the time to look into launching new products or services your market needs.

Finally, now is a good time to do some face to face networking. While Linkedin now gives us the ability to connect with anyone, people often spend far to much time on the platform and rather than meeting their prospects face to face. While networking is unlikely to yield instant results, you will be planting the seeds ready for a future harvest.