Running a business is mentally taxing and resource-intensive. And it is no coincidence that more than 60% of small companies stopped their operations within the first three years (source. ABS).
Keeping up with the daily tasks of running a business, maintaining cash flow, and managing high-level stress can be an arduous experience for most business owners.
And maintaining your motivation is the key to keeping going and going like an Energizer bunny.
Here are 3 ways to stay motivated in your business and in Life:-
Be Brutally Honest With Yourself
Your success depends on your ability to face the brutal truth.
Admitting that there is a problem and you need help, guidance, and support is the 1st step to a positive change.
If your business is not attracting your ideal client, figure out your strengths as an entrepreneur. What can you offer clients or customers that will make them want to buy from you instead of someone else? How well do those strengths align with what people are willing to pay for (i.e., demand)?
Second, look at your business model and ask if it is profitable—or even sustainable at all—in the long term. It is hard to stay motivated if you are not making a profit. Week in and week out, it’s a deficit.
Simplify your Life
We have no issue over-committing ourselves to activities, business opportunities, functions, work, networking events, and family matters that we forget to have ME-TIME for ourselves.
Weight gain, hair loss, and heart palpitation are signs of stress due to an unhealthy diet and exercise program.
To stay motivated, you need to find ways to cut down on low-level and low-income activities to preserve your energy.
Find the employees with the proper work ethics to keep you sane. If you cannot find local talents, try offshore.
Build business systems to automate your processes and workflows so that you can focus on what matters most in your business and Life.
And, if you can afford it, hire a manager or a business consultant to take away some of the loads from you.
Remember, if you continue to stay where you are, i.e. do things that complicate your Life, it will affect your business negatively: attracting the wrong client, poor staff morale, high turnover rates, and not much net profit.
Remind yourself once in a while, “I simply my [life/activity/ work/ tasks]”.
Review, Re-Assess, And Re-Evaluate (The 3 R)
Like a marriage counsellor helping a troubled couple, the three Rs will help you stay on track and help you
- REVIEW Why you started [ insert activity/ action/ project ] in the first place
- RE-ASSESS Why do you want to keep going?
- RE-EVALUATE What benefits do you get from your Client/ customers/ or business opportunity?
Most of this 3R brings you back to your Values, Vision, and Mission.
You can apply the 3R in any context you want, especially whenever you feel lost in direction, clarity, and Purpose.
The 3R is your Self-inquiry tool to help focus your resources on activities that give your business the maximum value.
You can also empower your employees using the 3R approach to coach them and help them unify their efforts towards their productivity, work processes, and prioritisation.
For more information, get the Business Assessment & Diagnostic Tools