In part one of our Seasonal Slowdown Strategies Series, we talked about how every marketplace and virtually every industry experiences a seasonal slowdown at the exact same time, each and every year. We shared the first of ten strategies to not only have an awareness of when that is for you (this would require being able to track revenues from past years) but also to proactively prepare for it so you can have a plan in place and come out on top when this traditionally depressing, energy-sucking phase ends.

Here the second strategy of the 10 Seasonal Slowdown Strategies you can implement with minimal time, money and trauma.

The Ultimate Seasonal Slowdown Plan
2. Dialing for a Difference. Your seasonal slowdown period is an ideal time for doing a complete database/client Audit by phone.  You will not only get referrals, but cement client and advisor relationships for long term results.  Don’t overanalyze it and make it a five month project requiring a new software system!  Just look at your tracking sheets and call each advisor who referred you a client in the past 3 months.  The next week, call all your clients of the past 2 years who have last names starting with an A, the next week B, etc.  You don’t have to have an “agenda”.  Just talk to your referral sources and clients. Ask them what is going on in their life.  You are a counselor, not a document producer.   Both obstacles and opportunities of your advisors and clients are always opportunities for new business for you.  If you are stumbling starting the conversation, try looking at your last meeting notes and asking about comments you wrote down.  “How is your daughter adjusting to college?  Did you get the financial aid you were hoping for to help with school costs?  I see you are retiring this year – is there anything concerning you about this transition?  I see business was up 20% last time we met – are you still increasing?”  These questions alone can produce the need for an update in an estate plan to even out college cost payments, planning for college children (Health care directives and HIPPA authorizations at the least), retirement plan trusts, funding updates as retirement plans are rolled over, business agreements for new employees (Employment Agreements, Partner Agreements, etc.)  You will also easily discover that your clients’ children have gotten married, divorced, had children, etc. all which produces a need for legal work.  You will find out what your advisors are doing to generate business and how you might support them by guest speaking at their workshops, etc.   It is a way to not only generate business but to distinguish your firm in the marketplace.

Stay tuned for Strategy #3!  If you missed Strategy #1, The Coffee Clutch, click here.

Share!  What have you done to proactively plan for your traditional slowdown? We very much welcome what has worked for you!

To your continued success,
Molly and Laney