So let’s keep it real…
At one point, every business owner will find herself or himself in a troubling situation. Revenue is down. New clients are scarce. Profits are falling, and a peek at the financials is enough to bring on a full-fledged anxiety attack.
Unless you’re Mark Zuckerberg or Bill Gates, chances are you’ve experienced that sinking feeling of a business that’s trending downward, too. But how you handle it can mean the difference between continued success and business-killing burnout.
Here’s where a lot of business owners get it wrong. They start to worry about money, and that worry leads to poor decisions that ultimately have a negative impact not just on finances, but—maybe more importantly—on morale, too. Maybe you know what I’m talking about.
You Take On The Wrong Client
When business is down, it can be tough to keep your ideal client avatar in mind. Instead, you jump at the chance to work with anyone who comes along. The trouble with this scenario is you can find yourself with a roster full of clients who:
- Penny pinch you with everything
- Overwork you for less than you would normally charge
- Spend all their time telling you why your ideas and advice won’t work
- Drain your energy and make you dread your business
You Stop Creating
And who can blame you? With profits down, you have to pull back. You can’t afford to spend time and money investing more into your business, so you recycle what you already have.
Now, this would be ideal if you were repurposing with a positive intent. Perfect! But that’s not what your fearful brain is telling you.
Your fearful self is saying, “Just re-release this same product again, so I don’t have to have new sales copy written or record new videos.”
And while this might help bring in a bit of cash short-term, it won’t do anything for your reputation or your self-esteem.
Yikes! That’s no way to operate a business, but that’s just what a fear-based mindset can do to you. Better (much better) to hold out for that perfect client.
And while you’re waiting, take what you’ve learned and create the killer program your audience is clamoring for!
P.S. Are you part of my private Facebook group Construction & General Contractor Entrepreneurs? If you want to get close to me and other entrepreneurs then join my private community by clicking the link. Make TODAY the first day of the rest of your life.