Building a business is the outcome of a series of decisions. From the fun stuff like picking brand colors, to tedious tasks like insurance and bookkeeping, entrepreneurs have countless choices to make. As exciting as it is to develop a new concept, product, or service, the reality is that the shine wears off. Because the day-to-day reality sets in. And sometimes, months or years down the line, business owners find themselves unsatisfied. They don’t feel the same buzz, they are bored, or simply overworked and overwhelmed. This is a normal experience for entrepreneurs. The key thing to know is that change is possible. Read these tips for making transitions in your business.
Photo by Paige Cody on Unsplash
Acceptance
First of all, it’s important to accept how you are feeling about your business. Whatever it is. Disappointment, because your revenue is not what you had hoped for. Frustration, because there are problems you are not sure how to solve. Or overwhelm, because there are more tasks than there is time and energy
Like any issue, ignoring it will not make it go away. So no matter what your feelings are, give yourself permission to have them. After all, this is your business, and you are entitled to feel however you want about it. Let go of any judgment, and be ok with where you are at.
Change is Always Possible
Next, know that change is always possible. You are the boss, and you have control over your business. Embrace the opportunities to make things different. Some examples are:
- Pivot your branding, pricing strategy, target audience, or marketing strategy
- Create systems and procedures to empower your team so you can delegate tasks and work fewer hours
- Add new products or services to your offering
- Remove or alter existing products or services
- Redesign your business model
- Set boundaries with customers and staff so you have a better separation between your life and your business
Open your mind to the possibilities for change. Journalling is an effective way to brainstorm, reflect, and gain insight. These journal prompts for entrepreneurs may help get you started.
Tips for Making Transitions
If you are feeling unaligned with your business, these tips can help you make meaningful transitions. Even small shifts can create changes that can inspire you, get results, and improve how you feel.
Remember your why
Take time to remember why you started your business in the first place. As Simon Sinek explains in his book Start with Why, this is a powerful way to discover the purpose of a business. And this grounding can help you reconnect to the passion and motivation you had when you first started out.
Empower yourself
The most beautiful thing about entrepreneurship is owners are empowered to create a business that suits them. Consider what you really want from your business – both in terms of income, and lifestyle. Do you want to work 4 days a week? Do you want to sell in 5 years? Be mindful of these priorities when making decisions about the changes you’ll make.
Don’t ask for permission
Staff, suppliers, customers, and contractors may all have opinions about the transitions you want to make in your business. Remember that you do not have to ask for permission. Explain your reasons, and be excited about the benefits that these changes will bring. But don’t let anyone block you from doing what you feel is right for you and your business.
Focus
Be intentional with the transitions you are making. Meaning, focus on one thing at a time. It’s great to have lots of ideas, but plan each project carefully so they can be executed successfully. This also allows you to track the outcomes of each change, and evaluate this data to guide business decisions.
Be patient
Real change does not happen overnight. After all, someone doesn’t go from couch potato to marathoner in a weekend. So give adequate time for these transitions to be planned, implemented, and accepted. Staff and customers may need time to adjust. Be consistent and don’t backtrack when there is a little resistance. And be patient, giving the changes time to have an effect.
Closing Thoughts
Making changes in a business can feel scary and overwhelming. But if you are not loving your business, and hitting all your goals, then change could be the very best thing you can do. Give yourself permission to switch things up. Empower yourself to create your business so you can achieve your ideal income and lifestyle. After all, the whole point of being an entrepreneur is that you can set your own rules
Rebecca Page-Chapman, MBA is an expert on operations and customer experience for consumer-focused service businesses. As a business coach, she draws on her 20 years of lived experience as CEO and Franchisor to help entrepreneurs reach their business and lifestyle goals.