Not marketing when times are good will hurt
You tell yourself you don’t need to do any marketing or advertising because things are going so well, why would you need to spend any money when you already have so much work?
It is amazing how good life seems when business is going well. You have plenty of orders coming through the door, you are quoting lots of jobs and all your employees are busy completing their work as quickly as possible.
Then all of a sudden things begin to slow down, the phones stop ringing, you aren’t quoting as much and finally your employees are busy doing nothing! What do you do? PANIC, RIGHT? Yes, you could do that! I mean how long can you sustain not generating enough income to pay all of your expenses?
So, why did this happen? Everything was going so well. This could have happened for a number of reasons, for example; you might have had a lot of work from only a couple of clients or all your clients were busy spending at the same time. None of that matters anyway! What really counts, is that you realise things don’t last forever and these types of scenarios in business happen all the time. You need to learn from this and ensure you don’t find yourself in this position again.
You need to be consistent with your advertising and marketing. This is very important to ensure you are constantly seeking new avenues to generate income for the business. When you stop spending time on your marketing your business suffers a lag and it slowly creeps up on you when you least expect it.
If you are marketing consistently you are providing your business with opportunities on a regular basis. This enables your business to generate a steady flow of leads, which then provide opportunities to quote and then can potentially result in SALES FOR YOUR BUSINESS.
Just remember, it is much easier to afford marketing and advertising when you are busy making money than when you are broke. Save for a rainy day and invest when the times are good.