It is indeed exciting, stressful, wonderful and amazing to be the owner of a business of your very own. There is something quite exciting about holding the fate of an enterprise in your hands. The ability to provide jobs for other people and help them support their families is indeed a great and wonderful thing. When you first started your business you had ways of reaching your customers that got better over time until you were able to sell to most people you sought as customers.
As time passed your business grew and both you and your employees grew more invested in your business. You established a reputation as a good, ethical business person and your neighbors began to look at you as a fixture in the community. Then one day you start to notice it is increasingly hard to get customers to accept your old sales techniques. Business is starting to slow down, cash flow is starting to get a little sketchy. It is time for a change in how you sell to your customers.
When you notice that what you were doing before is not working and your business is beginning to take a turn for the worse, you must take action. There is nothing to be gained by continuing down an unsuccessful path until the absolute last minute. It is crucial that you watch your business cash flow, receivables, and all financial indicators on a weekly basis at a minimum. Paying close attention to the numbers will alert you to changes in your business’ status in sufficient time to make the necessary adjustments and changes.
If your sales techniques stop working, it is not the end of the world. It is time for a new beginning. Look at what is working for your competitors, read industry alerts, talk with your friends, network. Look for new ways to get customers. Find new ways to sell what you have to offer. This is not a time for blind and willful adherence to the old ways that are no longer working. This is a time to get moving and get moving fast, move smart, but move fast.
Most importantly, remember that a wise person prepares for war in the time of peace. This means that while things are going well for business and sales are at an all-time high, keep alert for new sales techniques, new ways of reaching customers, new ways to make the business work. So, the question for you this thrilling day is, do you have a plan B for getting sales for your company?
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