More than 60% of small businesses stopped their operations within the first 3 years. It’s no coincidence and has nothing to do with the lack of information.
Have you ever wondered what drives success? Did Google’s wealth of information do nothing but overwhelm you? How do you choose which article or blog to trust in the abundance of credible and non-credible sources of information? Did you find the answer…?
You may have become a little more knowledgeable. Still, the truth is complex answers are often not found on blogs or articles, and even if you do, the credibility is often questionable. Even then, they can only provide a general frame of reference and cannot specify strategic steps that need to be taken to achieve your business goals. The ‘why’ and ‘what’ might be present but the ‘how’ is rarely present. Also, it is insufficient for your specific needs and business situation.
To avoid burnout, here are two things you can do right away:
- Develop, Revise, and Reignite Why You Started Your Business?
Ask yourself the following questions:
- Why did you start?
- Why do you want to keep going?
- Why run this business in the first place?
Ask yourself the “why” at different phases. You will be surprised by the impact on your business and your life, too!
As the business owner, you will clearly understand why or what you want to achieve. This is what we call ‘self-inquiry.’
Self-coaching and inquiry will help focus resources on activities that give your business value. It is also easier to identify steps essential to achieving your targets and potential clients to engage and conclude.
Sharing the “why” with your employees and staff will help them unify their efforts towards a common goal. They may perform different roles across functions, but having a clear direction lets individual members progress towards the same goal. This also gives them purpose as individual contributors to the overall success of the business.
- WHATMEANINGand PURPOSE DOES YOUR BUSINESS OFFER?
Besides the usual money, autonomy, freedom, and potential lifestyle – what other purpose/meanings does your business provide?
Without some intrinsic PURPOSE, it’s tough to stay motivated. Your conscious mind will take over and start by questioning the worth of your time, efforts, and business – is it worth it?
Ideally, your business or purpose and meaning somehow have to put a dent in the universe, as Steve Jobs put it.
Without a genuine connection to the universe, it can be easy to get distracted by almost anything. Not understanding why you are doing what you’re doing can easily lead you astray.
Sometimes, you may even know what you want to achieve. But when faced with obstacles, it can be challenging to push forward and persevere. Run your business with a PURPOSE. Otherwise, your business will exist only to make ends meet.
Understanding WHY you do things can always give you the “fuel” or push to move forward, regardless of the obstacles.
- LEARN HOW TO BUILD YOUR BUSINESS PROPERLY
We have plenty of free tools to show you how to build your business properly.
There is a lot of work.
And although you just want more sales, more clients, more business, more money, the challenge is that if you do not fix your internal mess (business systemization and automation), no matter how much you make, you only end up accumulating a huge payroll, plus little productivity.
And by the time you pay 10% GST or VAT, and 25-30% company tax. There is very little to go around.