Business requires pivots, changes, and a constant mindset of flexibility. You can’t be so attached to your team, your clients, or your business plan that you will forsake opportunity for the sake of comfort.
I have seen way too many businesses fail because they will not take the steps to adjust their business, they do not respond to the marketplace or their industry trends. We’ve seen it in big business (Blockbuster being a prime example), but it’s even more heartbreaking when it’s a small business owner that I know personally.
- The computer tech business that stays “stuck” by not investing in business automation, thus he is required to keep raising prices to maintain per-project profitability…and in turn hurting his referral business.
- The financial planner that stays off of Facebook, leaving a massive amount of business on the table. This business ended up closed.
- The marketing guru who refuses to hire someone, leaving him stretched thin and with a low profit ceiling because he’s gotta run his business by himself.
- The coffee shop owner who stopped marketing and instead relied on word-of-mouth…to his detriment. That business closed.
- The retail store owner with trust issues that could never leave someone alone in his shop. This guy is chained to his store.
There are so many more stories of small business owners that are handcuffing themselves and/or losing their business because they won’t take the necessary steps to grow their business.
They won’t pivot into profit; they stay stuck in safe.
So, what can you do to avoid their fate? What do you have to do so that you can build the life you want, instead of staying in the life you have? Here’s six action steps for you to take right now:
- Write down what you want your ideal life to look like. If you don’t know what your target is, you’ll never be able to hit it – so write down what your ideal life looks like. Make sure you account for your time spent at the office, time spent with family, your physical health and your hobbies. Now that you have visualized and written down what you want, you must work backwards so that you can take the necessary action steps to achieve your ideal life! Fill in the attached worksheet for your ideal week and write down, by the hour, what your ideal week looks like. Once you’ve done that, write out what your actual week looks like. Boom! You’re ready for Step 2
- Now you have two worksheets: your ideal week and your actual week. They probably look radically different from each other. That’s a good thing! Let me tell you a quick story: in 2012 I had hit my breaking point. I was working harder than I’d ever worked, I was stressed out and I was more successful than I had ever been…simultaneously. I was creating the life I was working towards without realizing the side effects. I was chasing a dollar figure but I wasn’t building a LIFE! There’s a huge difference between chasing a number and building a life. I set out to build a life (and a business) that allowed me flexibility, financial freedom and the fulfillment of helping others. I have achieved that goal. It took me four years, but I got there! If I had not made a lot of very uncomfortable changes, I would never have realized the dream of living my ideal life. So, your second action step is to write down the changes you have to make to move from your actual life to your ideal life. Those changes could include hiring an administrative assistant, doubling your revenue, moving into a new office, etc. Write down your action steps so that you know what you have to do. If you have no plan to succeed then you are, by way of omission, planning to fail.
- Great job – you now have your ideal-to-actual week comparison done, and you’ve written down your action steps needed to bridge the gap. You’re making great progress! The third thing you need to do is to write down your timeline for completing these tasks, and some of your tasks could take years to complete (my goal of reaching $5,000 in residual monthly income took me two years to achieve). To the left of each of your tasks, write down a date that you want to complete it by. A goal without urgency is a dream. Your productivity is determined by your deadlines and your consequences, so if you don’t put a date by your task then you will not get it done in a timely manner.
- Get help. You need help if you’re going to achieve your dreams. I know that because you haven’t achieved them yet. You need encouragement, advice, accountability and connections if you’re going to get it all done. I started a mastermind group for the sole purpose of helping people like you achieve their goals. Please consider joining me so that I can walk with you, side by side, as you work towards your goals.
- Ask your friends, family and business acquaintances what you can do better. This one is hard, and it takes guts. If you don’t do it, then you will risk staying in the same spot you’re in now. When my business was stuck because I was chasing after a number, I was frustrated. I had a friend of mine go out on a limb and offer constructive criticsim on how I was running my business. I had no idea that I was making the mistakes that he pointing out to me, because I didn’t recognize them as mistakes. In my mind I was operating at peak efficiency and profitability, but with the help of my friend my eyes were opened. Sometimes you need to have someone give you a fresh perspective on your business – ask for that feedback! Seek it out! In my mastermind group we are all very honest with each other, and we push each other to improve our business processes so that we can all achieve the life that we want. It takes you being vulnerable and transparent so that those around you can help you.
- Lastly, stop making excuses. When you verbalize a reason for your failure, then you’re accepting your current state as your permanent reality. If the economy’s bad, get creative so you meet your revenue requirements. If your clients suck then fire them and get new clients. If you can’t find any good employees then you’re the problem and you need to learn how to be a good boss. When you make an excuse for your failure you are closing your mind to find a new solution.
I hope you get the life you want, and I want to help you get there. Let me know how I can help you.