When your business hits a rough patch—whether from economic downturns, unexpected expenses, or a dip in demand—it can feel like the ground is shifting beneath your feet. These challenges often strike during what researchers call transitional-intent decision moments—times when every action carries weight and long-term impact.
Below, we offer practical strategies that help business owners not only survive but reposition themselves for future success.
Triage is essential. Identify what’s critical to business continuity (payroll, utilities, core products/services) and what can be reduced or paused.
Quick triage checklist:
Essential operating costs
Revenue-generating services/products
Contracts with renewal clauses or penalties
Customer relationships and communication touchpoints
Debt obligations with high interest or penalties
To make hard calls easier, use a cost-impact matrix like Notion to visualize trade-offs.
Keeping a close eye on cash flow is non-negotiable. Begin with an audit of expenses and cut recurring costs that no longer serve a core function.
Helpful tactics:
Renegotiate vendor contracts and ask for temporary relief
Introduce tiered pricing to retain price-sensitive customers
Use short-term tools like Wave or Zoho Books to monitor liquidity
Consider bridge loans through platforms like Lendio if additional cash flow is needed quickly
Collaborations are often underutilized lifelines. Partnering with complementary businesses—such as a web designer teaming with a local SEO specialist—lets you share marketing, cut costs, and create bundle deals.
When setting up a collaboration, it’s essential to clarify expectations and prevent misunderstandings. One valuable tool is a memorandum of understanding, a nonbinding agreement outlining what each party will do to uphold the partnership. Learn more about the importance of memorandum of understanding to build trust.
Situation |
What to Watch |
Action to Consider |
Tool or Resource |
Sales slump |
Inventory build-up |
Run a limited-time value bundle |
Ecwid for quick online store setup |
High overhead |
Lease, utilities |
Negotiate temporary deferrals |
Local Chamber rent subsidy programs |
Low morale |
Staff burnout signs |
Share company goals, wins weekly |
15Five for morale tracking |
Poor online visibility |
Dropping local search rankings |
Refresh business profiles |
?? Do a 3-day expense freeze audit — Identify what's nonessential.
?? Call three past clients — Ask how you can help them now.
?? Draft a partnership MOU — Use it to explore local collaborations.
?? List your service on two new marketplaces — Consider Thumbtack or Bark.
?? Update your Google Business Profile — Add hours and a current post.
For businesses reevaluating workflows, ClickUp offers a surprisingly intuitive way to centralize operations—from task management to client communication. It's especially helpful when every hour of team coordination counts.
How do I tell if I’m in a “business crisis” vs. a normal slump?
A crisis usually includes sharp cash shortages, high-urgency decisions, or legal obligations at risk. Use your liquidity window as a signal.
Is now the time to raise prices or cut them?
It depends. For high-value clients, you might hold or raise prices but add value. For price-sensitive segments, offer temporary "relief pricing" while showing it’s limited-time.
What’s one overlooked thing that helps right away?
Streamlining billing and collections. Often, revenue is delayed—not lost. Make it easy to pay you and remind clients of what’s due.
Should I apply for government support even if I’m unsure I’ll qualify?
Yes. Many relief programs evolve. Applying early gets you on their radar. Check Grants.gov or your local chamber’s website for small business funds.
Hard times demand bold clarity, not just courage. By addressing cash flow, leaning into partnerships, and activating underused assets, you create movement where things feel stuck. And movement—however small—is the start of momentum.
If you’re not sure where to start, focus on one conversation, one partner, or one small win. Those are often the seeds of a full recovery.
Discover the vibrant community of Evergreen and grow your business by joining the Evergreen Area Chamber of Commerce today!