Is your business not doing so well? Does it feel like you´re going nowhere? Do you struggle to find the money to pay your bills each month? Are you working all hours, but not seeing any improvements or the results you want?
Maybe you and your business are stuck in a rut – so what next?
Step one: acknowledge you’re in a rut
Running a business can sometimes feel like you’re on a hamster wheel. You´re running and running, huffing and puffing, and you do this all day long, but somehow, you´re still in the same place. And it can be extremely discouraging.
Soon, you may even feel quite depressed. All you can see are the problems, and you can´t see your way forward to a better future…the walls feel like they are closing in, and it feels like there is no escape. I don´t know about you, but it´s making me panic just thinking about it.
What´s more is that many business owners in this situation get stuck in this wallowing cycle, instead of seeking help. Whether that´s due to being stubbornly independent, not wanting to admit their weaknesses, not knowing who to turn to, or not wanting to get help and advice from others.
While it is difficult, recognising you’re in this Groundhog Day is the first step to changing the results. So, acknowledge you need help. Getting help isn´t showing weakness. In fact, it´s the strongest (and smartest) thing to do. We aren´t superheroes who can do everything ourselves, and that´s okay.
Reach out for a consultation – this is the first step to start doing things differently to get you out of your rut! [[email protected]]
Step two: ask for help!
Whether it´s a specific problem, such as your sales are tanking and your cash flow is squeezing you to death, or you´re working all hours and just not getting anywhere, it’s time to ask for help.
Just think of it like Who Wants to be a Millionaire – if you´re struggling to find an answer yourself, it´s time to phone a friend.
Often, when you´re stuck in a rut, it can be so invaluable to get an external perspective. Someone who can help you lift your eyes up from the everyday problems that you´re facing so you can see all sides of the bigger picture. So ask for it!
Speak to someone like me who is an experienced business adviser or coach. Someone who not only understands your problems but can give you some perspective and clarity.
Step three: get clarity
When you gain that clarity from a third party, it´s all too easy to lose it and get swallowed back down into your rut. That is, putting out the every day fires, such as all your emails, phone calls, and the general non-important but seemingly urgent things. So how do you break this cycle?
As we said, seek advice from a professional. Just like the Samaritans help people see a different perspective, reducing feelings of isolation and disconnection, this is what business owners get from their coaches too! However, you need to be speaking to them consistently to get the best impact.
Speak with them once, and they can help you see the bigger picture so you can start making minor changes. But meet with them regularly, and you´ll see things a lot more clearly, they can help you outline what you need to do next, and tweak and change this as you grow and evolve.
Essentially, they can help you get out of the weeds and put the necessary pieces in place so you can be working on the business rather than in it.
Step four: shake off the stagnation
A good business adviser will help you identify areas where you can improve, and this may include:
Increasing your profit margin: from cutting unnecessary costs to optimising pricing strategies, what is the best way to improve your bottom line right now?
Improving your client service: excellent client service is more important than ever, so how can you improve this so you can upsell and keep them coming back for more?
Embracing the 1%: where can you make minor, incremental changes that could lead to significant improvements over time? Whether in customer service, marketing efforts, or operational efficiencies, focusing on small, manageable adjustments you can make daily are key.
Recruiting and delegating: do you need to bring more people in to achieve your growth plans? Maybe you can train your people and delegate more responsibilities?
Outsourcing low-value tasks: are there any areas that you don´t have to be doing yourself? Things like your marketing and finances are of great value, but they are considered “low-value” when it´s your time. Consider outsourcing anything that doesn´t require your expertise, so you have the time to focus on what will give you the biggest bang for your buck.
Get unstuck (and stay unstuck)
If you´re stuck in a rut with your business, don´t be afraid to seek help. Gaining another perspective, someone who can help you see the bigger picture and what steps you need to take to build positive change is invaluable. And I´m not just saying that either. As an accountant and business adviser, I have a business coach who helps me to see a different perspective in my own business too!
Once you have found someone who can gve you this clarity and perspective, don´t forget to meet with them regularly´too. Whether it´s every month or every quarter, they can help you step back and see certain patterns, opportunities, and solutions that aren´t visible when you in your business day in and day out.
Stuck in a rut or stagnated?
If you’re ready to turn the tide on your business woes, we are here to steer you back on course. Call us, send us an email, or reach out for a consultation – this is the first step to start doing things differently to get you out of your rut.
