1) If your business is slow, use the time to work on your infrastructure.
Depending on the size of your business, this can mean anything from refocusing on training, optimizing work space and facilities, improving technology and core business systems to analyzing processes, behaviors, and working culture. Put a system in place that will work more seamlessly when you’re busier.
2) Cement relationships with your clients.
Work even harder for them, and charge them less. This will pay off once their budgets expand again.
3) Don’t cut your marketing budget.
“If people don’t know you’re out there, you won’t sell stuff. And you need to sell stuff,” advises Gerwitz.
4) Spend wisely.
Buy only what you need to use soon. Warehouse space and excess inventory costs money, and lean times are the best for reducing waste.
5) Devote more time to finding deals.
Leverage relationships, look for discounts, or seek out smart acquisitions, but be sure to quantify your results.
