This isn’t a plea from your dental hygienist!
Have you encountered situations where your customer or prospect has given you the impression that new initiatives can wait until September? Do you sometimes get the sense that business owners mentally take the summer off?
Dun and Bradstreet conducted an interesting analysis of business failure. Based upon US data, firms with fewer than 20 employees have only a 37% chance of surviving four years and only a 9% chance of surviving ten years.
When business owners put together their annual business plans, they might have to anticipate a seasonal softening of sales during the summer months. However, the expense side of their business will continue to function and with statistics like those in the paragraph above, business owners should continue to look for opportunities to move their business forward.
Businesses generally experience a life cycle that moves from start-up, to growth, maturity and then decline. The decline phase can often be preceded by complacency on the part of the owner on one hand or by success on the other.
Three tips that will assist you in avoiding the decline phase:
1) External focus – if customer involvement slows down, are there strategic alliance opportunities with key suppliers that can be pursued?
2) External focus – networking opportunities may increase significantly with outdoor activities. Ask for leads and referrals.
3) Internal focus – use the summer for training of employees.
By all means, take some time off so you can re-charge. But use the balance of the time to keep moving your business forward. If a business isn’t going forward, it is likely going backward.
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