Have you found yourself with more free time now that the market’s not as hot as it used to be?
If so, how can you make the most of it?
First: absolutely rest if you need to. Secondly, give yourself a pep talk. If you’ve been in business for a while, remind yourself of what you’ve already achieved and the skills you have under your belt. Re-read those testimonials and positive reviews to get yourself into a solid mindset.
Once you’ve recharged, now’s the time to work on your business – all the activities you said you’ll get to one day. Now we’re in a fresh financial year, it’s a great time to reflect, audit and improve your business.
These are 8 key areas I recommend you look at:
1) Marketing and advertising.
Businesses that remain visible and maintain their marketing momentum will stand out. Marketing has many layers including:
- Paid advertising – Google Ads, Meta Ads
- PR
- Content marketing – blogs, case studies, YouTube videos, etc
- Direct outreach
- Social media campaigns
- LinkedIn – newsletters, posting, and commenting on your network’s posts
- Email newsletters – when’s the last time you connected with your database? Do you have a database? If not, now’s a great time to get started.
- Podcasts – either create your own or ask to be a guest on an established podcast.
2) Social proof and credibility
- Ask past clients for testimonials and Google reviews.
- Create a series of case studies to show off your best work (and projects you want more of).
- Create a form you send to your clients at the end of each job – make collecting reviews a seamless part of your process.
3) Collaborate or create strategic partnerships
- Get creative and curious. What other businesses offer complementary services and expertise? Is there a way you can work together that will benefit both of you?
- For example, if you are a business coach, could you partner with a life coach to offer a more comprehensive package to your clients? Or are you a VA agency that could partner with a bookkeeping company or accountants? If you’re a marketing expert, could you team up with a content writer? If you’re an editor, could you team up with a book coach?
- Think laterally and identify any potential crossovers or gaps in your services which could be plugged with a strategic partnership.
4) Go to networking events in your local area or hang out with your ideal clients.
- Networking doesn’t have to feel awkward or forced. With plenty of organisations out there, shop around for a group that fits your niche and style. In-person and online spaces are available. It’s a long game, yet one that’s benefitted my business and my professional development immeasurably.
- Email me (katie@katierickson.co.nz) if you’re interested in being a guest at my TNG group. We meet every second Thursday at 9:30am (a parent-friendly time!)
- As your budget allows, offer to take people from your network out for coffee or lunch. You may uncover opportunities to support each other’s businesses.
5) Review your technology and systems: update where you can.
- Do you have a CRM (customer relationship management system) where you can collect information about your leads, customers, and opportunities?
- Do you have the right accounting software?
- Are there areas in your business where you could benefit from more automation?
- Do you take advantage of social media scheduling software like Publer?
- Are you still spending too much time on manual tasks? For the past year, I’ve been using Contented AI for client meetings and reports; it’s been an absolute game-changer.
- If you find tech bewildering and it’s been in the too-hard basket for too long, chat to technology experts like Ant from Target State. He’ll help you see if you are getting the best deals with your technology vendors and identify where you are wasting money or missing out.
6) How’s your cash flow looking?
- Have you reviewed your payment terms? Even changing your due dates to one day earlier can significantly improve your cash flow over the long term.
- When did you last review your pricing and profitability?
- Do you need to schedule time with your accountant?
- I’ve recently taken advantage of Taxi to help fund my latest website.
7) Document your policies, processes and procedures.
- You might not be thinking about onboarding new staff right now, but when the market recovers, you’ll benefit from having your policies, processes and procedures documented in one place to make hiring and training new staff as straightforward and efficient as possible.
- If you find you receive the same query again and again, you may decide to share this information with your clients via support or FAQ pages.
8) Professional and personal development.
- Now’s the time to go through the online courses you’ve paid for or read those business books.
- Check to see if there are any conferences in your passion and industry. A great way to network, stay up to date with industry trends, and be inspired by the speakers.
- I’m heading to Electrify Aotearoa in June – will I see you there?
Ask me about my services.
This year, I launched a new service – Brain Bounce. Starting from $100 plus GST, you can book some time to pick my brain, and I’ll ask you smart and strategic questions. For more than eight years, I’ve polished and pruned my interviewing process to get the right results for my clients. You’ll leave with so much more clarity on your next steps and where you should focus your time, energy and money.
I’m also right here to help you with your long-form content – books, blogs, case studies, support pages, FAQ pages, annual reports and more. I want nothing more than to see you smashing your business goals, so you gain more eyeballs on your website, and ultimately see your diary booked up again with your favourite projects.
What’s your next best step? Book a free 30-minute chat.
Inspired to take the next step? Go ahead and book a free 30-minute chat via the link below. Here’s your (no-pressure) space to ask me any questions before you commit.