Sales Conundrum of 2023

In my last blog, “Recession Conundrum of 2023”, I talked about why the 2023 recession is different than past recessions. Looking at it from a client perspective, I presented some possible inventory-based strategy solutions. Click this link to read the “Recession Conundrum of 2023” blog.

If, however, you have a service company like Avela Corporation (my company), your challenge has to do with sales and finding new clients. You need to make up the revenue gap resulting from diminished orders

For, me this has been a real poser and my guess is that I am not alone. On one hand, I have a good sales funnel that is still bringing in good leads supplying me with good potential candidates. On the other hand, to use an old phrase, “You can bring a horse to water, but you can’t make it drink”.

I am having interesting conversations but what I am hearing is not so encouraging. Decision makers tend to be in a hunkered down mode at the moment. I am hearing a chorus of “let’s wait and see how things shake out.”

There is a lot of uncertainty, confusion and fear out there. The one thing that’s for sure is that people are starting to realize that the 2023 recession is real and it will likely be a very challenging time, to say the least. I believe this situation will continue to evolve over the next few months. After so many conversations. What I see when I close my eyes are decision makers who are stuck, like deer in headlights. Of course, this will change over time, but for us the big question is, “When will things shift from paralysis to action?” My business has seasonal tendencies and there are decisions that are attached to timelines that can’t be missed.

These current conversations remind me of stages of grief that one must endure to get to the other side—denial, anger, bargaining, depression and acceptance. My sales funnel has been bringing me leads that are somewhere in the first four stages, while I cannot help them until they are willing to accept the situation, change course right now and try something different.

My sales funnel has not been producing leads in the acceptance stage, or at best it is hit and miss.

At a networking meeting a friend suggested that instead of advertising for direct leads, I need to advertise for referral partners. Someone who doesn’t only qualify good leads, but has a vested interest in my success as I can offer mutual success in return.