As a small business or sole trader, it’s likely that one of your unique selling points is in fact you. Your passion makes your business –you’ve developed your idea so far, perhaps with a team behind you, and you are the driving force of the business. The continuation of your vision – from start-up to fully-fledged business – depends on you. But what if you’re running out of steam?
It’s so exciting when you first come up with a business or product idea and start dreaming of success. The future seems full of possibilities. But at some point we all come up against some obstacles – after all, nothing runs smoothly all the time. The business model we had planned might start showing some cracks, we might not be able to create our product to the exact specification we wanted to, or finances might be a little trickier to navigate than we first thought. We might even begin to question if it’s all worth it. What do we do then? If you’re feeling disheartened, consider trying these ideas for keeping the spark alive in the face of adversity.
Do some soul-searching
Enthusiasm is so important to the success of your business, as well as your happiness. So if the passion is gone you need to get it back – but first, you need to find out what’s going wrong. Are you stressed out, experiencing too many set-backs, or just bored? Once you’ve pinpointed the root cause you can think about how you can make yourself feel better – whether that’s by learning something new, making a change to your idea, asking someone for help, or sharing your workload.
Remember why you started
How did you first get the idea for your business? Why is it important to you? Try to remember how it felt when you first got excited about your idea. It can be easy to get caught up in the day to day worries and finer details and lose sight of what inspires you. It may help to write down the reasons why you started your business and why you feel passionate about it. Then put the list in a place where you’ll see it every day – write it on your whiteboard, stick it on your fridge, or set it as your computer’s wallpaper so you see it every time you power up your PC.
Track your successes
Sometimes it helps to stop thinking about all the things you have yet to do, and instead take a moment to reflect on all the things you have already achieved. Keep track of how far you’ve come and remember every victory. Next time you come up against a problem, think about the last problem you thought you wouldn’t be able to overcome, and have faith that you can achieve anything you put your mind to.
Keep your eyes on the prize
As well as tracking your successes and glancing backwards every now and then to see the progress you have made, you should also be looking towards the future. It might seem daunting or even overwhelming at times to think of all the things you still need to do, but part of remembering why you started is also focusing on your goals. Picturing yourself achieving success – whatever that might look like for you and your business – is a good way to stay motivated and keep the passion alive. You also need to remember what steps you need to take to get where you want to be, but you can break these down and take them a step at a time. What do you need to do today, this month, this year, over the next three years?
Stay positive
Even the most optimistic of us can experience setbacks that challenge our positive outlook. It’s easier said than done, but having a positive attitude even when facing new problems can really make a difference. Next time you feel yourself getting bogged down, identify those feelings of worry or pessimism and try to actively think positive thoughts. “This can be fixed”, “we’re going to sort this out”, and “we’re going to be successful” are all useful phrases that will also instil more confidence in your team, and your positive attitude will rub off on the people around you.
Be flexible
Remember that you’re small, you’re just starting out, and it’s okay to make changes if you need to. There is room for you to grow and adapt, and having to make a change doesn’t necessarily mean you’re having a setback. As a start-up, you’re in a great place to be flexible compared to established, long-running businesses, and being adaptable rather than rigid is more likely to bring you success, even if it means deviating from your original plans.
Surround yourself with supportive people
Whether it’s friends, family, your business partner, the team you work with, or a business mentor, surround yourself with people who will be a supportive and positive influence as you progress. Build a network of other entrepreneurs who know what it’s like to start a business from scratch, and learn from them. Bounce ideas off each other, learn from each other’s mistakes and keep each other motivated.
Part of staying enthusiastic about your business is knowing where you’re going and how you’re going to get there. Stumbling around in the dark isn’t great for anyone’s morale, but having a business plan to refer to along the way can help a great deal. If you don’t already have a business plan, cbm can help. We can work with you to create a plan that gives you some direction, goals to aim for, and a clear picture of your business so you can keep sight of your goals, track your progress and successes, and stay motivated. Contact us to find out more.