Momentum counts for a lot — more than we realize. Ask the sports team that goes on a winning streak going into the playoffs, or the business that is always able to attract top talent. Momentum is a like a snowball rolling downhill, gaining speed and mass with each passing second.
But momentum can work both directions. And whether momentum is positive or negative, it tends to keep going in the same direction unless acted upon by an more powerful force.
The Second Law of Thermodynamics says that all energy eventually dissipates. Energy needs to be replenished in all systems, including our businesses. No business can run perpetually without continually replenishing revenue, talent, brand awareness and customers. Even at the highest levels, nothing runs at 100% efficiency. To stay in motion, everything needs a steady source of energy.
Avoiding Entropy In An Organization
Everything in the Universe is subject to the effects of entropy.. Your business is no different. It lose steam or run out of fuel if you don’t constantly push, and replenish your main sources of energy.
Businesses need revenue and profit to survive. Revenue makes up the lifeblood that makes a business thrive. Revenue comes as a result of qualities like problem-solving, innovation and reliability. These are qualities your customers need to know you possess.
All successful businesses exist by filling some sort of need. They solve some sort of problem, each doing it in its unique fashion. These differences are what make one brand or service different from another. Do your customers know what makes your business unique?
Momentum is built when your business gets all the possible work it can handle. If you are building momentum, you are constantly building awareness of what your business does, and why you do it better than your competitors. But awareness of your business eventually dissipates from your audience, and you need to give it a boost.
When times are good, it is easy to slack off on your marketing efforts. One day becomes a week, a week becomes a month, and soon a year has gone by with no marketing effort.
When business is abundant, you may stop looking for new customers. In your peak season, you may stop publishing on your website, social media, and other channels. Soon, the momentum you once had is lost. Everything loses energy eventually without a boost. You can run out of fuel if you don’t constantly push. Your competitors are pushing — are you?
Many wise people have told me that when you’re busy, that’s exactly when you need to be looking for more business. When you get slow, it is easy to panic. If you have predictable seasons when you are slow, perhaps you figure you will do all your marketing then. But people are not looking for your services in the slow season. While it is good to build awareness of your business in slow times, that cannot be the only time you put effort into marketing.
Every industry has predictable cycles of feast and famine. It takes discipline to step on the gas when you are still busy, and it feels like your days are already too long. But if you do not concentrate on marketing at these points in time, your future potential customers will not think of you when they need your services.
From my own experiences, blogging is not an “extra” or a “nice to have”. It is one of the main ways people discover my services. Some people don’t like to write for their website. But every business needs to do something — whether it’s social media marketing, question-and-answer videos, a podcast, or live local events.
We’re living in an age where everyone is bombarded with a constant stream of information. Those who constantly work to get their name in front of their customer base will rise above the din and ruckus.
Advertising is expensive, marketing can be expensive, but publishing only costs you time. A website by itself isn’t going to bring business results, though it is part of the puzzle. You need to bring people to your website. This is momentum.
I’ve seen lots of businesses fall off this year. The commonalities with all of these businesses were they didn’t publish regularly, they made almost no effort to market themselves, and they were completely heads down in their work.
It doesn’t have to be that way. Don’t wait to lose all your momentum. Don’t wait for your energy to dissipate before you worry about finding new customers. Find people where they are, even if they don’t need your services today. To become “top of mind” for your target customers, you have to be there before they actually need you.
Start building up your brand equity today. Step on the gas even if you’re already in the lead.