Your Business: It’s on You.

(Image Ben Robbins)

It’s a ride.

Running your own business can be incredible – the rush of making sales, the thrill of introducing new products or services, and the satisfaction that you have in controlling your own economic destiny. But like all thrilling rides, running a business isn’t without its screams, bumps, twists, and turns— and sometimes stagnant growth. It’s easy to blame the stagnation on the economy, market saturation, or even competition.

Consider this:

“You are the reason for your business success”

“You are the reason for your businesses stagnation”

As a business owner it’s all on you. (Obviously this applies more generally at a personal level as well 🙂 it’s all on you!

That’s right as a business owner, your actions and decisions play a crucial role in determining the success or stagnation of your business.

The highs!

You are the driving force behind its growth or lack thereof. Your vision, leadership, and strategic thinking are instrumental in shaping the direction and outcome of your business. Being the reason for your business success implies that you have the power to make things happen. It is your hard work, dedication, and determination that propel your business forward. Your ability to identify opportunities, take calculated risks, and adapt to changing market conditions can lead to significant achievements. By setting clear goals, formulating effective strategies, and fostering a positive work environment, you can inspire and motivate your team or yourself if you are solo to perform at your best.

The lows!

Conversely, you are also responsible for any stagnation your business may experience. If you fail to adapt to market trends, overlook customer feedback, or neglect to invest in innovation, your business may fall behind competitors and struggle to grow. Poor decision-making, a lack of strategic planning, or a failure to identify and address internal weaknesses can hinder progress and stifle success.  Acknowledging that your actions have a direct impact on your business empowers you to take ownership of your achievements and shortcomings. By recognising your role as the driving force behind your business, you can proactively seek growth opportunities, continuously learn and improve, and make the necessary changes to ensure long-term success.

Don’t be Discouraged.

Now, don’t be discouraged. This isn’t an accusation, but a friendly wake-up call! Acknowledging the problem is the first step toward an incredible journey of growth and learning. So let’s identify a few ways in which you – yes, you – might unknowingly be stifling your company’s growth.

1. Fear of Taking Risks

The world of business revolves around taking calculated risks. If you’re mired in your comfort zone and say “no” more often than “yes”, you might be blocking your business’s path to exponential growth. Perhaps you’re constantly “playing it safe”.

2. Stuck In Old Ways.

This is your business, your “baby” – we get it, we have been there too. You may have formulas and techniques that worked great in the past but keep in mind that change is the only constant in life. The marketplace is a dynamic beast that constantly demands novelty and improvements. Are you evolving?

3. Poor Delegation

As founder and owner, you might feel compelled to handle all business matters personally; from marketing strategies, bookkeeping, customer service, to the actual production and logistics. However, a jack of all trades is a master of none—don’t let control issues hinder your growth!

4. Neglecting Your Businesses Online Presence

If you’re not fully leveraging social media, email newsletters, SEO, or paid online advertising, you’re potentially missing out on a heap of customers who live their lives online.

5. Lack Of Business Planning For The Future

An absence of long-term strategic planning can also stunt your business’s growth. Where do you see your business in two years, five years, or a decade? What are the steps needed to get there?

Becoming aware of these habits can mean the difference between remaining stagnant or propelling your business to new heights. Remember, it’s entirely normal, and even expected, to stumble upon these hurdles. What matters is your willingness to face them, adapt, and move forward.

The road to success isn’t linear, it’s full of ups and downs. Growth requires taking a steady, hard look at how you operate and being willing to make necessary changes. Checking your habits can be challenging, but it’s a critical step in being a successful business owner.

Remember, there’s no ‘one-size-fits-all’ solution in business I know I sound like a broken record.

The key lies in understanding ourselves and our businesses better, identifying our strengths and weaknesses – and making the necessary adjustments. You’ve already accomplished so much setting up your own business, and there’s no doubt that with a little self-reflection and adaptation, the sky’s the limit!

If you need some help you can contact us here