Before it was quoted in “Best Marigold Hotel” John Lennon said…
“Everything will be ok in the end. If it’s not ok, it’s not the end”
If you’re in a slump right now here are some proven strategies to help you climb out and get back on top…
Get pens and paper – you’ll need to plan it out and write this down by hand, not on your computer. Let your imagination run wild, no limits. Write, doodle and draw your way out of the slump.
- Work out exactly what the slump is and what’s causing it
- Have you lost your Mojo? Are you bored with your business and need a new direction?
- Are you in financial stress – are you making more than you are spending or is there something else worrying you? Do you have enough customers?
- Is it a market trend or industry trend? Is it affecting all businesses or just yours / your industry?
- Once you’ve identified the cause of the slump, you can start to find solutions. Never slip into the mindset of making “everything” to blame.
- If you’ve lost your Mojo – what would need to happen for you to get it back? A new project, new direction, new products /services? Do you have someone to talk to – a coach or mentor or clued-up friend?
- If money is the problem, sit down with your accountant or someone very money-savvy to get a true and accurate picture of what’s happening. Set a budget and set financial projections for income. Include the actual strategies you need to work through to fix the finances.
- If it’s a “trend” in your industry – decide if it’s a fatal trend or just a blip on the radar. Do you have the strength to work through it? Again, brainstorm solutions with a trusted adviser. You won’t have all the answers locked up in your own head.
- The most important thing to do right now takes the emotion out of it. Things don’t stay the same… you haven’t reached the end yet. Stay in the present as much as you can… focus on what is in the “now” and what you can do in this moment to feel better and more positive about the slump.
- And if you feel you can’t do anything right now in this moment, accept that you can’t. That doesn’t mean that you won’t tomorrow. Be nice to yourself and take a breather even if for a short time. Your brain will thank you for the rest and will work on finding solutions instead of you forcing your way through. If it feels like walking through treacle, stop! Back out!
- After all your brainstorming, if you feel that this business is not right for you, you don’t have to stay it in you know. Tweak it and adjust it if you can, but if your heart’s not in it, it’s OK to move on. Find a way out and set a new direction.
On a personal note, I’ve had 11 businesses over 35 years – not all of them were spectacularly successful so I changed them, molded them into something more enjoyable or sold them or closed them. That’s how I learned to be a business coach, only I didn’t know it at the time!
There are no failures, only learning opportunities.
If you need a hand with this – Try my Perfectly Simple Business Plan