Running a small business can be exciting, rewarding, fun, challenging – and sometimes, downright terrifying. No matter how hard you work or how well you plan, there will be rough patches that cause extra stress and sleepless nights.
But as the expression goes, “when the going gets tough, the tough get going.” Things may not be going to plan, but that doesn’t mean you should bury your head in the sand or throw in the towel altogether.
Changing your mindset and the way you approach obstacles can help you and your business grow through challenging times. Here’s how you can do it:
Mentally Navigating Rough Patches In Your Small Business
Often, we become overwhelmed when things get rough. We don’t know what to do so we do nothing. But doing nothing is a decision in itself, and usually not the right one. Your business is your responsibility, so take a deep breath and tackle the problems head-on.
Start small and ease into it if you need to. But, just take action and do something to get started!
Focus On What You Can Control
Some things in life (like a global pandemic, for example) are beyond our control. But as a small business owner, there are many variables you can control.
Instead of worrying about the things you can’t influence, put your time and energy into the adjustments you can make. This will give you the momentum to move forward and make progress even when the going gets tough.
Get Your Facts Straight
When things seem to be spiralling out of control in your business, it’s easy to panic and make assumptions about the state of your finances. But making snap decisions based on fear is not a smart move. You need to calm down, slow down, and get back to basics: go on a fact-gathering mission.
Put everything else aside for a moment while you collect the essential financial reports or any other data you need to get a clear overview of your business. Once you know exactly where you stand, you can start making a plan to set things right again.
Set Your Priorities
Once you have done a review and know exactly where your small business stands, you will be able to see which areas need immediate attention. Prioritise those tasks and break them down into small, achievable chunks so you’re not overwhelmed.
Seek help if you don’t have the right expertise to get the tasks ticked off the list. A great place to start is a versatile company like Admin Army. We handle everything from bookkeeping to administration, so we are able to help you make inroads into your list of priorities!
Be Open To Change
In other words, pivot! If what you are doing isn’t working, quit wasting your resources trying to force it. Instead, maybe it’s time to reflect on your current business strategies and develop creative ways to respond to the challenges.
Be adaptable and open to new opportunities.
When you are so caught up in your business problems, it can be difficult to see the big picture. Molehills become mountains, and everything feels too hard.
While your struggles may be stressful, they don’t necessarily mean the end for your business. Take a step back and look at where you have been and where you want to be. Remember the vision you first had for your small business and focus on that.
Take Care Of Yourself
During tough times, you may feel a sense of urgency to get things back on track. But running yourself ragged will only make things worse and lead to burnout. Make sure you take time to eat, rest, sleep, and get some downtime so your body and mind can handle what life throws at you.
Get Support For Your Small Business
Forget the myth of the solopreneur battling away in the dead of night to build their business – it doesn’t work that way. You can’t do everything, and there’s no shame in calling in the troops when you need some support. Having a professional take care of your admin tasks takes the weight off so you can focus your energy where it’s really needed.
Don’t wait until your small business is struggling to get support. Plan ahead and get help with those essential admin or bookkeeping tasks now. Call Admin Army today to see how we can help you sail through those rough times.