How Your Business Can Survive a Major Drop in Customers Posted on April 20, 2020November 9, 2023 By Leigh Langston It happens to almost every business: You enter a period where, for one reason or another, you simply have a drop in customers. These can be frightening moments, but they can also be opportunities because they can force you to reexamine your business and better determine ways to grow stronger and make more money. There are plenty of ways for your business to survive and to thrive when there is a lull in customers. Here are three such examples. Lower Your Stock Cutting your overhead is one of the ways that you can survive a slow time in your business. In many cases, this may mean lowering your stock and making sure that you are spending less money when you don’t have to. This is something that requires forethought and planning because you never want to lower your stock too much and risk not having enough for customers. However, lowering your stock on hand can help you adapt to changing circumstances. It can also potentially help you realize that you can survive with less stock than you ever thought you needed. Reduce Expenses Reducing expenses can help you save money. This can be done in a number of ways, including cutting back on supply purchases and reducing staff hours. Remember, lowering your business overhead doesn’t have to be painful, and can actually improve how your business operates. Reducing your expenses can focus you to refocus your business on its greatest strengths and ensure that you are concentrating your resources in the most profitable areas. Shift Modes of Contact and Delivery of Services If the coronavirus has taught us anything, it’s that businesses have to be nimble. Many businesses are now no longer able to have open stores or access to all the workers that they need. As a result, many are shifting to drive-up or appointment models, they are resorting to increased delivery of products to avoid crowds, or they are offering stay-at-home orders. Regardless of the coronavirus, your business may be able to draw inspiration from these tactics, and there may be ways that you can shift how you do business in order to reach new customers. Lulls in customers happen to almost every business. They are unfortunate, painful, and anxiety-inducing, and they can potentially be fatal for your business. However, remember, you are never powerless as a small business owner. You have the opportunity to use the lull in customers to refocus your business and to concentrate on ways of making it stronger in the long run. Here’s another article you might like: 4 Marketing Tricks That Can Help Any Black-Owned Business Succeed About Author Leigh Langston editor See author's posts Share this:Click to share on Twitter (Opens in new window)Click to share on Pinterest (Opens in new window)Click to share on Tumblr (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Facebook (Opens in new window)MoreClick to email a link to a friend (Opens in new window)Click to print (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on WhatsApp (Opens in new window) Related News delivery serviceshow to grow your businesslowering stockreducung expenseswhat to do when you lose customers
News Helpful Tips for Becoming the Beautiful Black Leader You Were Meant to Be Posted on April 20, 2021April 20, 2021 As a Black woman, you’ve likely faced many challenges. However, that doesn’t have to stop you from becoming a powerful leader. Being a leader is a wonderful opportunity and with the right tips, you can gain qualities that will make you a great one. Be Passionate If you want to… Share this:Click to share on Twitter (Opens in new window)Click to share on Pinterest (Opens in new window)Click to share on Tumblr (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Facebook (Opens in new window)MoreClick to email a link to a friend (Opens in new window)Click to print (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on WhatsApp (Opens in new window) Read More
News Mother & Daughter Team Up To Launch Unique Service As Virtual Assistants Posted on December 6, 2018December 5, 2018 MOTHER AND HER TEEN DAUGHTER TEAM UP TO LAUNCH UNIQUE SERVICE AS VIRTUAL ASSISTANTS A 16-year old daughter and mother duo are taking the virtual assistant industry by storm. Naming the business after her daughter, Essynce Moore, Starr found it highly important to keep entrepreneurship in the family and teach… Share this:Click to share on Twitter (Opens in new window)Click to share on Pinterest (Opens in new window)Click to share on Tumblr (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Facebook (Opens in new window)MoreClick to email a link to a friend (Opens in new window)Click to print (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on WhatsApp (Opens in new window) Read More
Beauty & Fashion Michelle Johnson Invents The Hair Weight: Hairstyling Tool That Prevents Shrinkage Posted on December 6, 2018February 27, 2024 What is a hair weight? A tool to prevent hair shrinkage and elongate curls. BLACK FEMALE ENTREPRENEUR INVENTS HAIR STYLING TOOL FOR WOMEN WITH NATURAL HAIR Michelle Johnson (Amtu) is the CEO & Founder of Amtu Hair Art & Tools, a product design company which specializes in hair accessories and… Share this:Click to share on Twitter (Opens in new window)Click to share on Pinterest (Opens in new window)Click to share on Tumblr (Opens in new window)Click to share on LinkedIn (Opens in new window)Click to share on Facebook (Opens in new window)MoreClick to email a link to a friend (Opens in new window)Click to print (Opens in new window)Click to share on Reddit (Opens in new window)Click to share on WhatsApp (Opens in new window) Read More