Summary of "Grow Your Local Business" Podcast Episode: MVP: Downtimes and Slow Seasons
Podcast Information:
- Title: Grow Your Local Business
- Host: Leslie Presnall
- Description: Local marketing expert and life coach Leslie Presnall shares strategies and mindset techniques to help local businesses reach more people and secure a steady stream of clients.
- Episode: MVP: Downtimes and Slow Seasons
- Release Date: February 4, 2025
Introduction
In Episode 73 of "Grow Your Local Business," host Leslie Presnall delves into the critical topic of managing downtimes and slow seasons in local businesses. Drawing from her recent experience coaching at a photographer retreat led by Krista Robinson, Leslie explores how both external economic factors and internal business cycles can impact business performance. She emphasizes the pivotal role of mindset in navigating these challenging periods to achieve sustained success.
Understanding Downtimes and Slow Seasons
Leslie begins by defining downtimes and slow seasons, highlighting that these periods are common across various industries—not just photography. Whether you're a home organizer, personal trainer, or esthetician, downtimes are an inevitable part of running a business. She explains that understanding the nature of these slow periods is the first step in effectively managing them.
The Neutrality of External Circumstances
A central theme of the episode is the idea that external circumstances, such as the state of the economy, are neutral and do not inherently dictate business outcomes. Leslie argues that while economic downturns can influence consumer behavior, they do not automatically result in business failure. Instead, it's the mindset and actions of business owners that determine their success during these periods.
Notable Quote:
"Circumstances or situations are totally neutral. They don't actually create our results for us."
— Leslie Presnall [05:20]
The Power of Mindset
Leslie emphasizes that a business owner’s mindset is the most significant factor in how downtimes and slow seasons affect their business. Negative thoughts about the economy or the inevitability of slow periods can lead to feelings of discouragement, stagnation, and inaction. Conversely, a positive and proactive mindset enables business owners to continue marketing, making offers, and engaging with clients, thereby maintaining or even growing their business despite external challenges.
Notable Quote:
"Our thoughts are everything. Our thoughts drive our actions, which create our results."
— Leslie Presnall [09:15]
Buyer Behavior During Downtimes
Leslie categorizes buyer behavior during economic downtimes into three distinct groups:
- Not Spending: Potential clients who are directly affected by the economy and are currently not willing to invest.
- Cautious Spending: Clients who are still spending on important or valued items but may require more nurturing and persistent marketing to convert.
- Unaffected Spending: Clients who continue to spend as usual, unaffected by the economy.
Understanding these categories helps business owners tailor their marketing strategies to focus on the second and third groups, who are more likely to invest in their services despite economic challenges.
Notable Quote:
"There are people right now who are following you, that are in your audience that are watching you, who are ready and willing to buy right now."
— Leslie Presnall [16:00]
Overcoming Slow Seasons: Case Study
To illustrate the impact of mindset, Leslie shares a success story from one of her clients—a photographer who traditionally viewed January as a slow month. By challenging this belief and adopting a positive mindset, the photographer implemented consistent marketing strategies and ultimately turned January into one of his highest-revenue months. This transformation underscores how changing one's thoughts can directly influence business outcomes.
Notable Quote:
"He just decided to believe it could be a higher month. He decided to think differently and take different actions, and he got a bigger result."
— Leslie Presnall [24:10]
Strategies to Navigate Downtimes
Leslie outlines several actionable strategies for business owners to effectively manage downtimes and slow seasons:
- Mindset Shifts: Actively change negative perceptions about slow periods to adopt a proactive and positive outlook.
- Consistent Marketing: Continue to engage with the audience through social media, offers, and value-driven content.
- Nurturing Leads: Focus on nurturing potential clients who are still willing to invest, ensuring sustained revenue.
- Avoiding Limiting Beliefs: Recognize and overcome limiting beliefs that hinder business actions and growth.
Additionally, Leslie promotes her LocalPreneur Academy as a valuable resource for business owners seeking mentorship and coaching on both mindset and strategy.
Notable Quote:
"We have 60,000 thoughts a day. Most of them are negative and most of them are repeated from the day before."
— Leslie Presnall [25:30]
Conclusion and Call to Action
Leslie concludes by reinforcing the message that downtimes and slow seasons do not have to dictate business outcomes. By adopting a positive mindset and implementing strategic actions, local business owners can navigate these periods successfully. She encourages listeners to join the LocalPreneur Academy to receive ongoing support and coaching, ensuring they overcome limiting beliefs and continue to grow their businesses.
Notable Quote:
"If you enjoyed today's episode, I want to invite you to check out my program, the LocalPreneur Academy."
— Leslie Presnall [28:10]
Key Takeaways
- Mindset Matters: Your thoughts and beliefs significantly influence how you navigate downtimes.
- External Factors Are Neutral: The economy itself isn't the cause of business success or failure; your response to it is.
- Targeted Marketing: Focus efforts on clients who are still willing to invest, rather than those who aren't.
- Consistent Action: Maintain marketing and engagement activities even during slow periods to sustain and grow your business.
- Continuous Learning: Programs like the LocalPreneur Academy can provide the necessary support to overcome challenges and achieve business growth.
By adopting the strategies and mindset shifts discussed in this episode, local business owners can transform downtimes and slow seasons into opportunities for growth and resilience.