What Works: Business cycles can be scary

Happy Halloween! I thought I would hold this column for the scariest day of the year because, if you don’t plan alternative communication or business strategies during the low points of your business cycle, you could scare yourself into bad decision making.

We are entering the holiday season, up time for many, a slowing point for some. Business cycle planning is an essential part of business. Yours will show up around year two of your business. You will start to notice patterns in your financials which show up when you apply the same formula to different times of the year.

Here’s some great news. Business cycles can be within your control if you:

Recognize and become conscious of them.
Develop a strategy to think differently.
Boldly execute.
The way we talk to ourselves, our employees, and our customers in a down cycle is important. One of the reasons there is a steep drop off is the talk turns as south as the bank account. Do any of these phrases sound familiar?

Phrase one, THE GENERALIZATION
Business is always down this time of year.

Phrase two, THE RESTRICTION
We need to button up and keep costs and expenditures low because we know less comes in this time of year.

Phrase three, THE GIVE UP
We just go on vacation this time of year because business is really slow.

Do any of those resonate? Businesses do have cycles. What you do during the cycle makes all of the difference. Am I saying don’t go on a Christmas vacation? No. What I am saying is there are things you can do to differently to assure your “thrivability,” not just survivability.

— Know your clients.
— Research buying patterns. Let your financials tell the tale of your business as it has been.
— Research new markets.
— Become willing to do things differently.

I want to know how you have kept your business cycles from haunting your business. Post in the comments below, share this column, or (if it has become just a little too scary), your first mini session with me is always at no cost. Plus, for the month of November, I am providing a low-cost accountability session to assure the business leaders in my community finishes the year strong. You can sign up to attend those sessions right here.

Happy Halloween!

Let Me Help You Take Control
Reno Rising – The Book: Get inspired by 14 area women, including myself, who rose above significant circumstances in order to RISE. Reno Rising sold out during the Comma Coffee book signing during Wine Walk but is now available on Amazon.com – Seeking local businesses to carry the book at retail too.

Business Leaders and Entrepreneurs: Spring into action on your business! Entrepreneur’s Assembly, Carson City chapter meets Wednesday, November 14, 2018 in The Studio at Adams Hub for Innovation and every second Wednesday of each month. Free mastermind group. The Carson City chapter was voted Entrepreneur’s Assembly Chapter of the Year 2017. 5:30 p.m. – 8:30 p.m.

Need Guidance? Get the Help You Need: Did you know I meet with anyone for 30 minutes over the phone at no cost? You can book a complimentary session with me now at www.whatworksconsultants.com – Stay tuned for local business partnerships where I will be extending this complimentary service face to face.

ABOUT DIANE DYE HANSEN
Diane Dye Hansen has more than 20 years of experience in communication and change management gained in the sectors of government, non-profit, healthcare, publishing, advertising, entertainment, and technology. Her Critical Opportunity Theory helps organizations turn challenge into opportunity through proper leadership and team communication. www.criticalopportunity.com

She is the president and founder of What Works Consultants, Inc., a consulting firm which helps business leaders communicate when communication is hard. This is done through research, strategic communication planning, change management consulting, human resources recruitment and training. She is a regular columnist on CarsonNow.org. To meet her and learn how she and her team can help your company, visit What Works Consultants, Inc. online at www.whatworksconsultants.com