The term “stalled business” is likely to send a shiver down more than a few business people’s spine, but it’s not quite as dire as it initially sounds. A stalled business is not a business that is in its death throes; in fact it can be revived, and eventually start to move forward once more.
Unfortunately, this is easier said than done. Most stalls happen over a prolonged period of time, which can make it difficult to identify that the issue is gradually worsening. For the most part, a stalled business is functional; there’s no horrific debts, no dearth of customers, and no terrible warning signs on the horizon. Instead, there is a sense of stagnancy; of profits that exist but don’t grow; of energy that is enough to encourage the status quo but not quite enough to drive forward to new horizons.
If any of the above sounds familiar, then your business may well be in need of a invigoration from a stall— and here are the ideas you need to achieve just that…
The Small Idea: Offer a discount to previous customers.
It may sound simplistic, but sometimes, the simple ideas are the ones that can work. Discount codes are relatively inexpensive to implement, but can help to bring an influx of returning customers to your brand. Hopefully, the uptick in business should help provide you with the funds and energy you need to power forward and ensure that your stalled days are a thing of the past.
The Medium Idea: Invest in a new website.
First and foremost, a poor website may in and of itself be a contributor to a stall. If your website isn’t keeping up with the latest trends and innovations, it’s time to look into professional web design that can improve this vital aspect of business. Your website is, after all, the cornerstone of your business’ online presence, and a new, cutting-edge design could be just what you need to leave your stalling days in the dust behind you.
The Big Idea: Introduce an entirely new service or product line.
If you fear your stall is a harbinger of bigger problems to come, then it might be best to think big when it comes to finding the solution— and ideas don’t come much bigger than investing in a new product or service. A big launch might be just what you need to spark your passion and creativity about your business, so examine your existing offering and see what you might be able to add to improve it. Should the launch be a success, you have a new area of business to get excited about and — hopefully — a rush of new customers to keep your coffers looking very healthy indeed.
A business that has stalled is not a business that is doomed to failure. With the right idea, and a dedication to taking the necessary steps to improve things, your stalled business can soon be purring with contentment once more. Good luck!