If you’ve experienced tough times running a business then you will know how hard it is to remain motivated and morale high as well as reassuring employees that everything will be ok, all whilst worrying yourself about what will happen. We learn from our experiences and if you’ve managed to get through business struggles in the past, you can do it again. We’re experts when it comes to supporting and helping struggling businesses. We’ve seen every scenario possible, whether it’s financial problems, clients refusing to pay or a PR disaster that has spiralled out of control. So, here are our top tips to help you stay motivated and on track when your business hits a rough patch.
Ensure you have fulfilment outside of work.
When your business is struggling, your first instinct is to drop everything and dive straight in trying to fix things. Whilst initially this may be the wisest thing to do, your productivity will run out at some point. It’s ok to dedicate more time to your business when it’s struggling, but after a while, dropping other plans and neglecting yourself will make you seriously resent the extra time spent at work trying to resolve issues. Try and stick to plans you have made outside of work, keep active and set aside time so your brain can switch off from work and recharge. Your best ideas may spring from somewhere you least expect.
Take action sooner rather than later.
Ignoring the problem will only make it worse. Trying to carry on as normal pretending the issue doesn’t exist won’t do any good. It’s best to take the plunge, as scary as it may be and take action as soon as possible. Get together with your most trusted friends and colleagues and sort out a plan of action to solve the problem. Not only will this help to deal with the issue quicker, it will also help you feel less stressed outside of work, whereas doing nothing will play on your mind. It takes more courage to face the problem and be a leader than to sit back and do nothing. If you need external help, ask. We see lots of businesses clinging on, only to fail later down the line. There is no shame in looking for mentors who can help you get back on track sooner rather than later.
Don’t let your imagination run riot.
When something important in our lives hits a rocky patch, our imaginations tend to manifest negative thoughts which create imaginary scenarios that most of the time don’t actually end up happening. Try to focus on just the facts. What has happened and how can I fix it? Rather than what could end up happening. Spending time imagining things that haven’t happened yet is only setting you up for negativity and no one produces their best work when they are surrounded by negativity. Focus on the positives, such as, how can I learn new skills to turn this around? Could this present a new opportunity for my business? Will I meet inspirational people who can help?
Get in contact with your clients and customers.
Your existing clients and customers are the people who have trusted your business and invested their time and money into supporting you. Ensure that you remain in contact with them, remain transparent and tell them the truth if they ask any questions. Forgetting those who have remained loyal to you in the past isn’t going to do any help when you are in a crisis. These people can help you with testimonials, networking and many other things that may be able to help you get back on track. Also, any negativity from clients and customers when your business is in distress isn’t going to help, so do what you can to ensure your relationship with these people remains strong and professional throughout.
All businesses face troubling times. You may have already faced difficult times and got through the other side, or you may be struggling now and looking for advice and assistance. Get in contact with us here to see how we can help.