Is Your Business Slowing Down? Here’s How You Know for Sure

If you feel as though your business is slowing down, then you will know how frustrating this can be. You may feel as though nothing you do ends up getting you the sales you need, and this can impact your motivation in the long run. If you want to do something about this, then it is helpful for you to find out if your business is actually slowing down, or if you’re just going through a rough patch. Take a look below to find out more.

Reduced Profitability

If you do not see a reduction in your revenue, then it may be a good idea for you to look at your general profitability. This could well be a culprit when it comes to slow sales, and you should be trying to use this when finding out if your company is slowing down or not. Think about it, did you hire some new employees? Did you invest in some new tools? If not, then you have to make sure that you investigate the performance of the products that are profitable, so you can compare them against those that might not be as much. If you can do this, then you will soon find that it is easy for you to make the decisions you want.

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Dry Pipeline

If you see that your revenue is down, then you have to figure out why. This starts with you looking at your sales. If possible, you have to check the closing ratio of your team members so you can then compare them against other periods of time. When you analyze the data, do you see the percentage of closed deals? Has this increased over time or decreased? If you notice a decrease, then this could be down to an issue with marketing or sales. If you see that the closing ratio is healthy on the other hand, then you may simply have less sales in the pipeline. This is a strong indicator that your company is slowing down, so be mindful of this if possible. Want to get more sales? Then you need to set up embedded payments here if you haven’t done so already. You can’t hope to make sales if you’re not providing an easy payment gateway.

Less Traffic

If you run an online business, or if you have an online presence, then decreased traffic could well indicate that your company is slowing down. This is especially the case if you see a decline that cannot be attributed to marketing issues or even a Google penalty. Measuring your foot traffic can be hard and this is especially the case if you know that you do not have any benchmarks to compare things to. Another symptom that you have to think about is the broad spectrum of your market. Do you see that things are being disrupted by various innovations in tech, or by your competition? Do you notice that the general interest that people have in your company is declining? If so, then this indicates that you may need to make a change.

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