If you are like most people, you have every intention of paying attention to your personal health and fitness. Some people seem to just get it right and maintain their tempo effortlessly throughout the year. For others, it is just a struggle to keep going each day. Personally, the only thing that keeps up the level of motivation is seeing the long-term results of my hard work. Sure, sometimes I get stuck in a slump and I decide to switch things up, try something different just to see if it works.
Just like personal fitness, every entrepreneur encounters challenges in their business. It takes a lot of courage to keep going sometimes, especially in the face of missed sales targets and other failures. Maybe you just hit a plateau and your business is not earning income as fast as you thought it would. Perhaps you are an owner-manager and you’re feeling too overwhelmed by the increasing demands of your business, that you have forgotten to look at the bigger picture. Maybe your best sales-person just quit with no reason and you feel inadequate to deal with the upheaval they have just caused. As a woman, maybe the demands on you at home have you feeling frazzled all the time, constantly tired, and struggling to just to keep up.
Business fitness is all about ensuring that you are on track with your business plan. As with any good plan, sometimes you will encounter challenges and there will be need for some tweaking. Perhaps you have made some off the cuff decisions that you have really not heard the chance to analyze and see what impact these have heard on your overall business. Other times, you encounter a crisis that you did not anticipate that needs you to think on your fit or simply shift gears and go off in a different direction.
Whatever the challenges you face, your business needs constant attention to ensure that it performs at an optimum fitness level. This is the only way for it to deliver on profitability and performance.
Take Stock of your business goals
You need to analyze your company plan, sales targets, employee goals and other deliverables. Have a meeting with yourself as the entrepreneur and have a fresh look at your game plan. Are you staying ahead of the competition or struggling to keep up with it? Is your inventory too high? Are distributors really giving you the reach and numbers you are looking for? Is your marketing strategy delivering on its goals?
It’s easy to get caught up in mundane day-to-day activities just to keep your business afloat. Develop a habit of taking monthly reviews of your goals. Have a weekly meeting each week to check on your progress and where you need to change your approach.
Consult mentors and advisors
Most people wonder where to start looking for a mentor. Well, books are an easy way to access information from someone that you admire. Find an entrepreneur that has inspired you and read their books. It’s better to learn about where you are going from someone who has already been there.
As you go about your business, begin to identify key people to form your advisory board especially in areas that you are not qualified to deal with. Bring them on board and keep them on call to help you think through solutions to challenges as they arise.
If necessary, Collaborate
Collaborations are a good way to access the best people in the field without increasing your company overheads. Perhaps your business simply cannot afford it. Go through your network to identify a team of people in your circle with the same passion and skill set that you need. Make sure that they are bringing a unique skill set to the table and that they compliment you and your business.
Never Stop Learning
Invest in material that will sharpen your skill and keep you informed. Take a class if you need to learn more about something. Stay ahead by making sure you have access to the right information and resources to improve your business and keep it growing. Invest in personal development classes to improve the areas that you need to work on as an individual. Whatever it takes, do it, just never get complacent.