Surviving the Summer Slump
Summer has officially arrived! The weather is getting hotter, but for many, business is cooling off. It’s not uncommon for advisors to experience a slump from June to late-August. Clients and prospects are away on vacation or too busy with summer activities to worry about finances. With fewer appointments and less on your plate, how will you spend your summer?
Some use the downtime as a chance to recharge before things pick up again in the fall. Others simply wait it out and accept the summer slump for what it is—an often-unavoidable decline in business. However, as an entrepreneur, you probably aren’t the type to sit around and wait for business to come in. And why should you? You might not produce many results over the summer, but you can still be productive. A little extra effort and creativity is all it takes to beat the summer slump and make long-term improvements to your business. Here are two suggestions to consider.
The summer months are filled with a variety of outdoor activities, events, and community gatherings. In fact, some of those prospects you’ve been trying to reach have probably already made plans to attend one. You should join them! Many community events offer sponsorship or vendor opportunities to local businesses. This can be a good opportunity to boost brand awareness and put your business card into the hands of several potential clients.
Reflect & Refocus
This would be a good time to take a close look at the first half of your year. How are your results matching up with the goals you set for yourself? What are you doing right? What could you be doing better? Even the most successful advisors can benefit from a little self-evaluation. Careful scrutiny of your strengths, weaknesses, wins, losses, and everything in between is a necessary step toward taking your business to the next level.
There are countless other ideas that are worth considering if you want to maintain some momentum during the slow season. Want to hear more? Our 2018 Summer Survival Kit is full of tips that can help create new opportunities while the competition is sitting at the beach.
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