Running a business has its pros and cons. When you pull a dividend it is absolutely awesome, but when you suffer a setback it can be like a stab in the chest.
Losing employees, having a job not go to plan, running at a loss or not turning a profit, or being taken to court are all scenarios that haunt a business owner.
So how do you continue to have the sheer will and determination to fight on? How do you overcome a blow and carry on?
Heres some lessons I have learnt that help me carry on today, even after 10 years of running my own business.
1. Take a step back, and evaluate your current position. Analyse what the blow was, how it happened and most importantly what caused it. Then work out how you can improve your business to eradicate this from happening again.
2. There is nothing wrong with taking a break or having a time out. Take a day out, away from everything to think. Dont feel like you have to be at the office, because you dont. Only a business only will understand that sometimes we all need time and space to just think and explore.
3. Make a plan to push ahead. Break objectives down into simple tasks and dont overload yourself in doing them. If you feel like shit today, give yourself a 3 or 4 day plan to resolve and get out of it.
4. Consult those you trust, and consider their opinions in what your next move should be. Could be a colleague, trusted associate, or fellow business owner.
5. Do something that will make you feel positive about business again – chase down a quick deal, invoice a client thats a good payer, or find a new project to initiate.
6. Consider taking on a mentor. Find someone senior whose been where you are, and take their advice. Remember its got to be someone you like, trust and respect – and then it will work like a charm.
7. Have a workout, shower, yoga session or whatever else that helps you to destress. We all have a particular way we like to destress. Go and do it and blow off some steam.
8. refocus on your original motivations for starting your business. Did you want to build something unique? Or perhaps you just wanted to be in control of your earning potential. Whatever the reasons, reinvigorate them and use them as a base for another phase of growth.
