In many ways the hardest lesson for a successful business owner to learn is that the very attributes that got you to where your business is today won’t get you through the next phase. In short, your blood, sweat and tears won’t be enough anymore.
Can you remember the “good old days” when you spent a buck on the business and made two? How about that feeling of euphoria, when you felt 10 feet tall and bulletproof? This is what reward for hard work feels like, with plenty of money around for a splurge or two like a boat or maybe a new SUV?
It’s hard to understand sometimes how a business that’s so rewarding can descend into frustration. It’s even harder to grasp that it’s not just about you as owner working harder or trying to understand and control every aspect of the business. Or maybe if you’re honest with yourself you’ve gone the other way and become a bit disengaged with the business with its never-ending issues.
The bad news is that if this situation is not addressed, the frustration will grow into Stress. You might find yourself wishing that you could just go back to the “good old days” when business seemed much easier, even though in your heart you know you need to take on the challenge of resolving the current situation.
The good news is that there’s a tried and tested formula for moving forward. Your business needs a solid foundation that supports the next stage of sustainable growth. What this looks like is a skills upgrade for the business and for the owners. What this feels like for you as owner is a major shift in your responsibilities.
You can figure this out the hard way and suffer the consequences in terms of wasted effort and lost opportunity. Or you can learn about the formula, apply it to your business, feel proud about your achievement and add this to your kit bag of business expertise.
Looking for more information on pushing past the tipping point? I cover this in more detail in my e-Book “A roadmap to sustainable growth” – what have you got to lose except five to seven business years – on average – feeling lost and disillusioned?