Beating the Sophomore Slump Don't let a successful first year distract you from attracting new customers.
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Q: How do I protect myself from income fluctuations? WhenI started my business, I had so many customers, I didn't havetime for marketing activities. But now I've gone into my"sophomore slump," and I'm struggling to get enoughbusiness. What's the balance between serving customers andgetting new ones?
A: You're fortunate to have started off with so muchbusiness. But it's important to focus on acquiring newcustomers, too. For many entrepreneurs, this means going tonetworking meetings, creating and maintaining a blog, making phonecalls, putting out a newsletter, and participating on listservs andin online forums.
To find the balance you need to keep your business afloat, useour 5-5-5 marketing formula from our book Getting Business to Come to You.Initiate five different marketing activities each day. We suggest amix of activities, because when you're starting out, you'renot sure what methods will work best. Then, follow through everyday on five activities from the prior day or week. For instance, ifyou sent a mailing to someone, follow up with a phone call the nextweek.
To keep business flowing despite the fact that you're busy,initiate and follow through on five activities per week instead offive per day. If there's a seasonal pattern to your business,you'll want to provide other types of services during the downperiod. Alternatively, use your lax season for more intensivemarketing, or offer off-season specials.
Authors and career coaches Paul and Sarah Edwards' newbook is The Best Home Businesses for People 50+.Send them your questions at www.workingfromhome.com or in care ofEntrepreneur.
