If so, take heart in the fact that this is not an uncommon phase for Business Owners to go through. It can happen for a variety of reasons.
Maybe it’s from what is often referred to as “burn-out”. This is usually when you have been working too hard, working too many hours IN the business, too little progress to show for all your efforts and not enough time spent in looking after your health and overall well-being.
Or perhaps it is something else. Maybe you’re down because it seems that no matter what you try or how hard you work, you just can’t seem to crack that magic formula that means business success. Perhaps you’re doing a lot of social media posting and/or promoting your business in other ways and/or working at new product development. Maybe you’ve even hired extra staff or moved into different premises in an effort to get better results (more profit) for your efforts.
This is not meant to be a silly question. Perhaps you’re “over it all” and you just want to move onto doing something else. HOWEVER, if that’s NOT the case, please read on……
STEP 1. You need to get advice from someone who has the right level of experience, someone you can trust and who will act in YOUR best interests at all time. A good Business Coach/Mentor is the first person you should turn to. If you want to know more about the role of a Business Coach/Mentor and how they can help you, learn more HERE.
STEP 2. Work with your chosen adviser objectively and truthfully. He/she will want to know exactly what you have or haven’t done to further your business. Your adviser will also need to know about your finances in detail.
He/she will also look at a variety of things regarding your business, such as:
Business Plan (if you have one)
Processes and Procedures
Customer Success Strategies
There are, of course, other aspects of your business that your Business Coach/Mentor will need to discuss with you but those listed above are the key elements for initial consideration.