Many business owners find it difficult to move their business to the next stage or even recognise that they need to move it forward. Setting up a business isn’t hard; making it a success is. You must keep moving forward if you want your business to go the distance.
Do any of the following statements describe your current situation?
- There is only you in the business but now you’ve got too much work to handle by yourself
- There is the potential for your business to grow but you’re resisting change
- Outsourcing or delegating is necessary but you’re worried that others won’t do things the ‘right way’
- You are ready to move to the next stage but you’re waiting for the ‘right time’
- Your business is successful and can function without you but you won’t let yourself step back
- It’s time to sell your business or walk away but you keep putting it off
If any of these situations sound familiar then you need to evaluate what is really preventing you from moving forward.
Fear of failure
What if you get it wrong? What if you take the next step and lose everything you have built so far? Think back to when you started out in business. Consider all those risks you took that eventually paid off and all those mistakes you made that you learnt from. Why are you scared of failure now when you weren’t before?
Fear of letting go
Running a business alone is great. You have full control of everything that is happening. You know every client, every supplier, every penny that is being spent and earnt. As you employ more people, you gradually lose some of that control.
For some, this loss of control is a real struggle but if you want your business to flourish, you can’t micro-manage every area. You must learn to trust your team and let go of some of the day to day responsibilities. Eventually, you may have to relinquish some of the larger responsibilities and leave decisions to your management team.
“If it’s not broke why fix it?” This is not an uncommon mentality among business owners. After all, once you have reached the point where you are making a comfortable profit, why mess with a good thing?
The problem is that if you don’t evolve your business, it can quickly become outdated. You need to move with your industry and the rest of the business world.
How to start moving forward
Having a strategy is important. You don’t want to throw all your time, money and energy into a bad idea. Decide what needs to happen in your business to move it to the next stage and plan how you will take those steps.
Planning is important but don’t wait until the plan is ‘perfect’ because there will always be ‘just one more thing’ that needs to happen before it’s the right time. Once you have done your research and put a strategy in place, take action.
You don’t have to do everything alone. In fact, you’re more likely to get the result you want if you seek advice. A coach or mentor will help you move your business to the next stage. They will help you understand what obstacles are blocking your way and how to overcome these.
As a life coach for business owners, I help you align your personal goals with your business goals and empower you to move your business forward. Whether you need to grow your business, get it ready for sale or walk away, I’d love to hear from you.