We’ve previously discussed what problems business owners can be faced with, we’ve also addressed how to look at how problems can be reversed into opportunity but how about actually dealing with problems?
The reason to be in business is to produce income, be it a service or selling product all that is required is the ability to make a financially viable business, one which produces money on which we can live our lives. A lot of small business owners don’t have the resources to face their problems head on, but a good number may not realise what resource is available.
If you operate a business either as a sole trader, or even perhaps as a small company it’s fair to say you invest a lot of yourself into the company, you spend time and effort to make it work, but then something rears its head which was either unexpected or is a challenge to help the business move forward.
How to face your challenges
Take Ownership – Be in Control.
Whatever it is that you are presented with it is key to be proactive, find how you can control even a part of the problem. Becoming a victim of circumstance will demoralise you and leave you feeling like you’re being overwhelmed, take a step back to look at it, then use what skills you have to address the parts you can address, call in the reinforcements to tackle the parts you cannot handle. Even if things deteriorate, you can proudly say you did what you could.
Different Perspective
As mentioned above, try to take a step away from the problem, look at the causes and at the effects. Ask for the input of someone unrelated to the business – or find free advice from professional bodies. Becoming blinkered by your own anxiety can box you in and lead to a situation which is untenable. Seeking to see the problem through other eyes can open up previously unseen solutions and help expand the way you think.
Use The Work Of Others!
Not in the literal sense. Whatever you are faced with, many others have been through it. Some succeed, some fail. Look at what they had done and follow the winning examples. It is vital to have a wide network of contacts so you can easily pull in such knowledge. Even if that means a pint down the pub with the butcher or a coffee at lunch with a clerk from the local solicitors. People all have their own experiences and can be invaluable as reference for whatever you face.
You Own The Business, The Business Is Not You.
It’s too easy to become emotionally tied to a business, especially if you’ve worked long and hard to bring about your vision. In a time of crisis however you must be sure to realise that it is a ‘thing’ that you own, and if that thing starts to affect you personally, causing anxiety, depression of stress then you should immediately seek the advice of those in your network, be prepared to take radical steps, ones which you may feel bad about but are probably necessary.
Worst Case Scenario?
Even if the very worst happens to your business, realise that it is not the end of all things. Understand that if the business is faced with insurmountable issues and you have done all you can to solve them and things still aren’t any better, the end of a business is a page turning, not the book closing. Even If you have to turn the page there is support available to you in every respect. A declining business is not a reflection of your ability or willingness.
I hope these few pointers go some way to keeping your business moving, but above all you must realise there are people that actively want to help you and your business succeed, it takes a little work to find them, but it can be the difference between a continuing successful business and one faced with having to close down. Do all you can to succeed.
