What To Do in a Slow Economy

We saw it in 2025. Tighter budgets, saving pennies (not literally, since they don’t exist anymore in Canada), and scaling back at home and in the office.

And it’s continued into this year, because economies are not fixed overnight. That being said, there is a way to use this to your advantage as a business owner. While launching one thing after another may feel like the way to go, it’s actually quite the opposite.

Now, we aren’t saying don’t launch new products/services, but more accurately, it’s that less is more. 

And here’s why:

Tortoise & Hare Syndrome

Too much too fast is a one-way ticket to burnout. We all know the fable of the tortoise and the hare, the lesson being slow and steady wins the race, but it’s more than that. It’s about using your energy methodically.

Maintaining a steady, sustainable pace in your business helps you adapt to external factors more accurately, as you give yourself the space and time to see what is going on around you and adjust your energy and speed accordingly.

Think of it like this: during a brisk walk or light jog, you can more accurately pay attention to your surroundings, the trees you pass, the people you pass, etc. When you’re running, you don’t have time to notice those things as easily. You’re focused on speed, distance, and trying not to lose control of your breath. 

There is a time and place for “running,” but unless you’ve done ample training, you might be fighting to catch your breath sooner than you thought. Your business is the same.

You’re Not Giving The “New” Time to Breathe

Let’s say you launched a new product/service, and then you immediately move to launch a new one.

Each new product/service you launch needs its time to breathe, become familiar in the eyes of your customers/clients. If you immediately move to the next thing, you are taking that time away from your new creation, and not only that, but you are normalizing your clients and customers to also always be looking for the “next” thing.

Attention spans are already quite short; everyone wants the next, new thing, but for small businesses, that makes your product/service life cycle even shorter in the minds of your target audience(s).

And chances are, they’re moving onto the next “big thing” before really understanding the key details and benefits of what you just launched, and how it can help them.

You Might Be Operating From Fear

Keeping busy? Constantly moving from one thing to another? 

As business owners, we are no strangers to constantly moving the goalposts, but it has me thinking: why?

Why do we avoid sitting in stillness, in our achievements, allowing ourselves to sit with it? I’m not a psychologist, but I am a business owner, so when I sit with the discomfort of sitting still post-launch, I realize that a part of it is the fear that, by not being in a constant cycle of “new”, I risk losing it all. 

Which isn’t true, but we all still feel like if we aren’t constantly turning the wheel, the whole thing will go up in smoke. It’s impostor syndrome sneaking in, which is why it’s so important that when we do launch new products or services, or enter seasons of slow, that we remain resilient in our power as leaders, entrepreneurs, creators, and small business owners. After all, small businesses are the heart of our local economies; we can’t let massive corporations and corporate greed deter us from supporting and sustaining our communities.

So, how should you use this season of slow energy? Where do we find confidence in uncertain times?

Refine and Redefine

Take a look at your processes, systems, and even your services/products themselves!

When everyone’s life slows down, it’s an opportunity to turn inward, meaning that this is actually the best time to update your website copy, rethink your existing services/products, make tweaks and small changes (and test them). 

Reach out to past clients and source feedback to learn about any gaps or areas in your business that could use some polishing, an upgrade, or that need a new perspective.

This time teaches us that it’s about working with what we have and getting creative with our problem-solving.

Look Where to Cut Back

You’ve updated your processes, systems, copy, etc., so what now?

Slowing down extends more than your processes and workflows, it also means your spending.

Now is the time to rethink your expenses. Things like software subscriptions are a great place to start evaluating the cost-to-benefit ratio. Research similar software, compare the cost and functions to understand if it would be more wise to switch software or to keep using the existing one.

Another place to cut back is advertising. Unless your ads are receiving great results, you may want to rethink your relationship with advertising. Instead of using paid social media advertising, leverage your organic social media more strategically.

For example, if the “goal” for your ads is to drive more traffic to your profiles and increase engagement, consider creating a giveaway of a product/service, using your personal profiles to share, and asking friends and family to help spread the word. People love giveaways, and they are a great way to attract new followers and ultimately new customers, not to mention, giveaway posts tend to be one of the highest engagement posts.

Again, it’s not about just cutting back, but giving you the opportunity to get creative again in your strategic thinking.

Embrace Vulnerability and Community

Feeling isolated during the season of slow? Me too!

That’s why when the going gets tough, the tough get vulnerable. A slower economy affects everyone; we all live together in our communities, feeling the same strain the economy puts on our professional and personal lives.

We feel the burden of responsibility, the toll of leadership and entrepreneurship, which is why community matters more than ever, especially communities built on empathy and support.

Lean on your team, get real with them, reach out to your network, and listen to each other’s obstacles. Knowledge is power, and most times, just being reminded of the love you are surrounded by is enough to keep our heads above water.

Remember, we’ve been through this before. It’s the cycle of capitalism, and this too shall pass, but it takes purposeful action to fight the dread and the dreary. 

It takes community, and it takes small businesses like yours, like mine, to be on the front lines and get creative to support each other.