5 Ways to avoid giving up on your business

 

No one is born with all the confidence in the world all the time.  Some days are insanely off the charts awesome and productive, but it is possible to feel just the opposite the very next day.

If you’ve been trying to grow your business alone, discouragement can easily knock you off your feet and make you question whether you should be giving up on your business — wondering whether achieving your dream is even possible.

The good news is that you are not alone. I know your pain and so do thousands of other entrepreneurs.

Tony Robbins advocates that you should not allow yourself to have bad days. Only bad moments. But it is easier said than done. If you really feel down in the dumps, it is important to take decisive action, or you might just stay down in the dumps.

Below are 5 thoughts that will help you get up when you feel like giving up. 

1. EXPECT TO STRUGGLE WITH CHALLENGES.

Challenges are a part of life … and it’s also a part of growing your business.  My late father always reminded me that if it was easy, everyone would have done it.

Unfortunately, we keep on being exposed to so many seemingly “overnight” success stories that it is almost impossible to not feel like a failure if you are going through a rough patch in your business.

When you expect growing your business to be easy, then challenges will take you by surprise. Don’t let obstacles knock the wind out of you and make you dwell on negative thinking.

As Vince Lombardi famously said, “It’s not whether you get knocked down; it’s whether you get up.”

Can you imagine how many adults would still be crawling around if babies stopped trying to walk after they have fallen over a couple of times?

2. CONNECT WITH A MENTOR OR COACH

It is so much faster and easier to get up from setbacks when you have other people to help you. Having a mentor or coach to guide you through these rough patches is not just a good idea, it is imperative. Trying to work things out on your own could start feeling like running around in a maze while you have a massive need for a bathroom.  I have tried this and it is not fun!

It’s pretty hard to encourage yourself when you’re battling anxiety and frustration. Get out of your hole of discouragement. Distance yourself from everyone that drags you down. Even if it is only for an hour at a time. Unfortunately, those people might be the ones closest to you.  Family and friends are definitely not always good for your morale, even if they seem to be perfect.

A common misconception when thinking of a business coach is that you are going to have one more person telling you what to do. If your coach is doing his or her job, they would be using a non-directive method to work through whatever is on your mind. Giving advice is not the number one priority of a coach. You need to ideally get to that magical AHA moment which will give you an insane amount of energy and drive.  This is normally done through a variety of coaching genres and methodologies.

3. RECONNECT TO YOUR “WHY”

The number one reason why people feel like quitting is when they run out of money or realize that they could have made a ton more money if they went back to a corporate job. After all, secretaries in corporate jobs often earn excessively more money than a highly skilled and experienced entrepreneurs.

Reconnect with the ‘Why you are in business?’ What is your purpose? My number one Bible verse that keeps me grounded is Ephesians 2:10. “For we are God’s handiwork created in Christ Jesus to do good works which God prepared in advance for us to do.”

Yes, I understand that you might not be religious and that’s OK. But I am and this verse brings me back to my purpose. Time and time again. (Maybe it might mean something to you too.)

A greater purpose fuels the passion that mere setbacks cannot extinguish.  And yes, we all need to make a living. We need to keep the fridge stocked and the vehicles full of fuel. Your kid’s hockey boots might be falling apart or you need to make another trip to the pharmacy. At least it’s way cheaper than going to a doctor!

If making money is your main priority, you will never have enough. It doesn’t matter how unglamorous you might think your profession is. Even a furniture removal operator can make a powerful impact on someone’s life. Our local go-to transporter had the privilege to move our family into a massive house in the best suburb in town and then he was the lucky winner of moving myself and my husband out into separate homes a couple of years later. I would never forget how amazing he was on that very sad day and the impact his presence had on me.

When business is slow it’s easy to sink into self-pity and start to question whether it’s time to throw in the towel and find a job. Instead, shift your focus off yourself and onto others.

Reconnect with your purpose and focus on the impact you want to make through your business.
Nelson Mandela often used this quote from  Marriane Williamson: “Our Deepest Fear Is Not That We Are Inadequate. Our Deepest Fear Is That We Are Powerful Beyond Measure.

Write your WHY in your diary and on your wall. Record it on a voice memo. Repeat it as often as you can. Over and over again.

4. GET YOUR BODY MOVING & IN BALANCE

It has been proven a million times over that exercise not only releases endorphins that get you on a high, but it unlocks an insane amount of stuck neurons. Whether you are training for your next 100-miler, or your very first 5-k Parkrun walk, getting your body in motion is the best way to get the positive vibes going.

In Outrunning my Demons, Phill Hewitt collated stories of how people have overcome all sorts of anxieties and phobias through running. Scott Douglas’ guide on how to fight depression and anxiety, one run at a time, in his book Running is my Therapy is also a good read to consider.

I can tell you from experience that I have not had one run where I did not feel thankful for the ability to run and clear my head and all my frustrations. Yes, you might not feel like a walk or a run or whatever before the time, but you are ALWAYS thankful afterward.

If you are really lazy, you could also consider jumping onto a bicycle. (Sorry, I just had to crack this joke!! 😊)

Hopefully, you’ll feel a little lighter after your exercise stint and have enough clarity to visit the next step in your journey to showing some GRIT.

It happens more often than not that we think our lives are in balance, but if we take a closer look, your life could be on the brink of going up in smoke and you did not even see it coming.

Take some time to evaluate your balance in life. Our Eight Spokes of the Life Wheel test might come in handy for this purpose.

5. CHECK YOUR METRICS

Sometimes we are so engrossed with what seems to be the bigger picture that we neglect the small steps needed to get the business wheel rolling again.  Shift your focus from seeing problems to seeing opportunities. 

If you keep focusing on your problem that your business is not making enough money right now, all you get is worries, anxiety, and ulcers.

In my practice, we would typically work through your marketing metrics.  You are welcome to contact me for more detail or you could subscribe to my newsletter for additional insight on marketing metrics later on.

For now, we are going to take a brief look at where the problem lies:

(1)  Leads

What can be done to increase your leads?  Do you need to work on your Word of Mouth system or do you need to increase your adverts?  If you want to increase your adverts, where are your clients?  What do they look like?  What are their pains, needs & gains for you to address in your adverts or covert content marketing strategy?

(2)  Conversion

What measures are you going to put in place to increase your conversion rate?

(3)  Number of Transactions

What creative ways can you think of to increase the number of transactions?

(4)  Average Sale

Is it possible to increase the average sale?  Can you upsell or use a checklist?

(5)  Profit Margins

How can your increase your margins?  Maybe reduce the number of discounts?  How would that affect your long-term brand perception?

REDISCOVER THE SPIRIT OF ADVENTURE

If you focus on the seemingly little things, you often get the spirit of adventure back into your veins before your know it.

Whatever you do, don’t give up without a decent fight that you can be proud of.

Remember, that you do not have to do it on your own.  There are a zillion business coaches like myself, whose aim is to help you get unstuck and thrive again.

I for one, do not charge you for our first meet-and-greet and I know a number of my colleagues who would do the same.  

Confidentiality is a given.  In my book, this is a massive point to consider.  Sharing your business pains, needs, and possibilities are highly personal and sensitive.  I would for example share my relationship issues long before I share any hiccup that I might have in my business and you probably feel the same.

Give me a call to see if we are a fit.  Otherwise, I’d love to refer you to one of my colleagues.  Alternatively, you can sign up for my newsletter or connect on LinkedInFacebook, or Instagram.  

And yes, we also offer a coaching and mentoring service through Ffounders, if you are starting out and cash is in short supply.

Whatever you do, let’s keep the adventure going!!

 

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