When the car’s battery is flat, we jump-start it. We do so by looking for an external source of power. The external power source may be another car or another battery. We attach the external battery to the flat battery via jumper cables. This process reignites the car, and off we go. To avoid frequent jumpstarting, we may require a new battery. What happens when businesses seem to come to a halt? Or when business owners feel like they are running out of power? Today, I’m sharing three ways to jumpstart your small business.
Reinvent Your Business
Do you feel like your small business is headed in the wrong direction? Take a breather. It could be the ideal opportunity to reinvent your business. Rethinking the business model, building a new strategy, developing a new marketing plan, reorganizing the business as a whole, reviewing the product offering, and redesigning the end-to-end experience are all examples of how to reinvent the business. To do so effectively, it is important to gain a better understanding of the market needs that your business fulfils. To jumpstart your business, ask yourself tough questions like, “Why does the business exist?” “What problem does it address?” “What solutions does it provide?” “Who is the target market?” “What is the size of the market that is available?” “Is it sufficient to keep the business afloat”
Engage Your Team
Because its employees are disengaged, the business may come to a halt. Some business owners operate their businesses without involving their employees. Engage your staff to invigorate your business’s energy. Request the team for suggestions on how to improve the business. Solicit their help in kicking off the process. As you connect the jumper cables, your team should not be onlookers. They must assist in ensuring that the terminals are properly connected. Team members’ involvement helps in gaining commitment to jumpstart the businesses and drive the overall performance.
Take Good Care of Yourself
For those who have not walked the entrepreneurial path, a day in the life of a founder is difficult to comprehend. If you run out of energy as a business owner, your team and your business will most likely follow suit. As a result, entrepreneurs must be self-aware and monitor their energy levels regularly. Take a break if you feel like you need it. There’s just so much one person can accomplish. We must prioritize our health to have the energy to focus on the health of our businesses. Entrepreneurs are well known for giving everything they have to their businesses. This can leave one fatigued. Many business owners experience burnout as a result. Entrepreneurs, in my opinion, should take better care of themselves. Taking care of oneself includes taking time off work, finding a mentor, honing one’s abilities, and seeking assistance with one’s business. This puts them in a better position to get their businesses off the ground.
Without some external energy, we won’t be able to jumpstart our businesses!
Dr Lucy Kiruthu is a Management Consultant and Trainer. Connect via Twitter @KiruthuLucy