At one point, every business owner will find herself in a troubling situation.
Revenue is down. New clients are scarce.
Profits are falling, and a peek at the financials is enough to bring on a full-fledged anxiety attack.
Unless you’re Mark Zuckerberg or Bill Gates, (and I’m sure even they have experienced this too) chances are you’ve experienced that sinking feeling of a business that’s trending downward.
But how you handle it can mean the difference between continued success and business-killing burnout.
Here’s where a lot of business owners get it wrong.
They start to worry about money, and that worry leads to poor decisions that ultimately could have a negative impact not just on finances, but—maybe more importantly—on you too.
Maybe you know what I’m talking about.
You Take On The Wrong Client
When business is down, it can be tough to keep your ideal client avatar in mind.
Instead, you jump at the chance to work with anyone who comes along. The trouble with this scenario is you can find yourself with a roster full of clients who:
- Aren’t willing or able to do the work required
- Spend all their time telling you why your ideas and advice won’t work
- Drain your energy and make you dread your office
You Stop Creating
And who can blame you?
With profits down, you have to pull back.
You can’t afford to spend time and money creating new programs, so you recycle the ones you’ve already produced.
Now, this would be ideal if you were repurposing with a positive intent.
Turning your e-book into a group coaching course? Perfect!
But that’s not what your fearful brain is telling you.
Your fearful brain is telling you that no one wants what you have to offer but that simply isn’t true.
You can even make it easy on yourself and re-release existing products to get more income coming in.
Or your could ask existing clients for referrals.
Whatever you do, don’t listen to your fearful brain – she is just plain wrong.