When your consulting firm’s sales are down and your pipeline resembles Mother Hubbard’s cupboard, it’s easy to become paralyzed or confused by next steps.
First, determine which variety of sales slump you’re facing. The three types are outlined in this article.
Your consulting firm’s path out of the downturn depend upon which variety of sales slump you’re facing.
However, regardless of the cause of your dip in revenue, there are Dos and Don’ts that always apply.
My team and I compiled a drawer full of Dos and Don’ts then pulled out a stack in each category for this article. Add your ideas below (in the comments section), then pack the lists away into your Consulting Firm First Aid Kit for when you need them.
10 Dos and Don’ts for Consulting Firm Sales Slumps
Connect daily to your wins
(Maintain confidence and positive energy)
Slow down your sales process
(Rushing and pushing lowers Trust)
Push harder to win the sale
Take bread-and-butter work
Take bad work
Break down projects into smaller, lower-risk chunks
Cut your fees
Offer pilot projects
Offer sales incentives
Sign with bad clients
Invest in marketing
Cut your marketing activity
Research to understand your market even better
Fall for silver-bullet quick fixes
Massively increase your networking
Tell the world you’re desperate for business
What else? Suggest a Do
What else? Suggest a Don’t
You have probably accumulated some rules of thumb for your own consulting firm–borne either from success or from hard knocks.
Based on your experience, what other tips would you give a consulting firm leader facing a sales slump?
Text and images are © 2023 David A. Fields, all rights reserved.