How to deal with a dip in revenue

3 mechanisms in our sales we easily step over

As you may know by now I have helped dozens of
entrepreneurs sell their programs and get what they are worth.
Being able to sell and achieving a solid conversion
often means a big breakthrough and
many times even a whole new level in your business.
However, after the ‘initial push’ in revenue, after a bunch of successful sales or after filling that first high-end program,
oftentimes something happens that introduces a dip, a decline in revenue.
I have experienced it myself in the past
and I see it happen with almost any entrepreneur.

This period of decline can affect a lot of things;
your confidence, your productivity, your creativity,
your health and ultimately the existence of your business.
For a long time I had no idea what that phenomenon was about.
So I began to pay attention and discovered a few mechanisms
that – I believe – are valuable to know when you’re in business:
1] Compression after Expansion
After a breakthrough, after that big step out of our comfort zone and especially
after expanding in a big way for the first time in our business we automatically constrict again. Just like a big rubber band that has been stretched.
We compress, tighten and shrink.
This might appear in the form of feeling tired, being confused, feeling empty or fear.
At that point many entrepreneurs stop doing what worked;
selling their services.
We just-stop-doing-it. We stop selling.
We stop doing other things too like nurturing prospects or other marketing activities.
We retreat to ‘fine’ again instead of staying in awesome-land.
2] A marketing lesson we forgot
Often an initial ‘push’ in clients, especially when we reside
in a start-up kind of phase comes from…
clients with a high desire for innovation or from your so called early adopters.
This early adopter is willing to take more risks, willing to pay more money to be ‘in’ first
and willing to accept imperfections or flaws.
Also an early adopter often has an instant sense of the potential value of
your product or service without you needing to express that.
Early adopters have less fear to invest in general.
Selling to the usually bigger mainstream market requires more proof [testimonials],
more maturity and more consistency in everything you do. Yes, also in how you sell!
So there is a kind of ‘natural’ gap to a next level.

3] Because a string of sales conversations worked well, we think we master it and lean back

We lean back in the sales conversation and become sloppy; we start talking more than listening, we give too much, we talk too long, we start coaching [!] … and all these sloppy habits make sure you lose the tension to want your solution. Conversion drops, sales drop and we get depressed.
We are back to square one!
Even the best have to get back to a proven sales process.

So when a downturn occurs in your business, check if you can
recognize one of these factors
so you can refocus on the right area.
I really hope these insights also are some kind of relief to you,
because when we get into a depressing dip we tend to forget our awe-some-ness.
We beat ourselves up and think there is something wrong with us.
And as you now know, there is no reason for that whatsoever.
To your awesome sales and business!
And what about you?
Have you experienced a downfall in sales?
Anything you would like to add from your perspective?
Feel free to comment below. I’d love to connect that way.

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