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Niche Business Ideas That Help You Avoid Sales Slumps

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Posted 5th September 2013 at 03:27 PM by The Niche Man

If your sales is taking a thump
Or you crave a sales bump,
Adapt to the market change
And increase your range
Then you'll avoid a sales slump.

Most businesses, big and small go through sales slumps. I must admit, I've had my share. But I've discovered a few ideas to help you avoid pesky sales slumps.
This isn't a guarantee you'll never experience one. But if you follow the ideas, tips and suggestions here, you'll reduce your chances of experiencing one.

But what if you're experiencing a sales slump now? Acting on these ideas will help make your sales slump shorter and less damaging. Sound good so far?

Sales slumps can affect any business or industry ... at anytime! They're one of the top fears most small business owners face.
In fact, avoiding them is what makes many of us get up early and go to bed late. The alarming fact about sales slumps is they can hit without warning if you're not careful. For example ...

1. New competitors with more resources could move in on your market, territory or customers!

2. Competitors can suddenly slash prices or hit a sweet spot by providing a new service for customers!

3. A general economic downturn could blind-side you!

4. Your competition could grow while prospects and customers shrink, causing market saturation!

5. Customer demand or need could shrink!

6. New technology could make a part or most of your business obsolete!

7. Changing buying habits of your target customers!

And More!

These examples represent circumstances beyond your control. But what's important is how you "react" to them. That's what can separate the slump-proof business from the crowd.

If you're experiencing one now here's the first thing you need to do. Find out whether the slump is external, like the previous examples, or internal like the following ...

- You have outdated marketing!
- You failed to adjust to changing market conditions!
- You failed to adjust to your target customers changing demands!

To name a few.
Want To Avoid A Sales Slump? ...

1. Work On Being More Adaptable, Flexible and Adjustable

One thing in life that's guaranteed along with death and taxes is ... change! And one of the biggest causes of sales slumps is a business owner’s resistance to change.

In many cases, the person is so focused on day-to-day business problems they fail to notice market changes happening. For example, change in market conditions, customer demands, technology or competition to name a few.

Change is happening faster and faster, have you noticed? That's why the person who can focus on being more adaptable, flexible and adjustable to change will be the best at avoiding slumps.

2. Get Out Of Your Comfort Zone - Test Something New
Slumps can often come when you allow yourself to get stuck in a rut. For example, continuing to do an activity that's no longer effective. Why do we do it? Because it's comfortable, convenient or familiar.

The best way to avoid getting into a rut is to test new things. For instance, test new marketing concepts and ideas, new promotional methods, new strategies. Getting out of your comfort zone helps build your muscles for being adaptable, flexible and adjustable. too.

3. Seek Help Fast

This point may seem obvious. But it's surprising how many small business owners linger and suffer through sales slumps alone. And others seek help as a last resort, but often the damage is too severe for the advice to help them.

I've found one of the biggest mistakes small business owners make is waiting too long to seek help. The second biggest mistake is refusing to change by resisting or ignoring the advice they get.

Don't let this happen to you! Resist the temptation to solve your sales slump problems alone, especially when so much help is available. For example, consultants in your local area or online. You also have books and even articles like this to draw from. The key is taking action and not waiting too long to seek help.

By following the ideas and suggestions here, you're taking a big step in avoiding sales slumps. They'll help you take a proactive (self-empowered) approach ... instead of a reactive (emotional) approach when facing sales slumps.


But don't stop there! Continue trying, searching and testing new ideas. I'd like to hear your experiences and what's helped you avoid or get out of a sales slump.


For even more powerful Niche Business Ideas go to TheNicheMan.com
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  1. New Comment
    Great Stuff.. Thanks for sharing
    permalink
    Posted 6th September 2013 at 11:20 AM by mpower36 mpower36 is offline
 


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