Just as you do with most things, there are times in your business, you have to slow down and take a moment to assess where you are in meeting your big goals. Are you on the fast track or are you just barely getting by?
Here, we’ll discuss some telltale signs you can use to make your determination.
When you have a thriving business, you can take time off and your business keeps moving forward. You have an inspired team on board that has internalized the vision, mission and passion for your business. You have a key person to take care of the day-to-day operations so you are freed up to oversee the vision and the team. You easily cover all of your expenses and your business is able to pay you a good salary.
You have the deep satisfaction and fulfillment knowing that you are able to give back into the lives of your employees, family and your community and are able to see the difference that your company makes. Most of all, you have more than enough time, talent and energy to keep going to grow a bigger and better business.
On the other hand…
When your business is barely surviving you often feel over-stretched or stressed and frustrated at your perpetually growing task and project list. You can feel like you are pressure cooking inside with the constant balance of revenue and expenses.
You may even be operating without a financial cushion and how you will cover all of the financial needs of your business and family keeps you up at night. As Cindy, a girlfriend of mine would say, “You’re doing too much!” Yet you know you can’t stop or slow down because you’re building something BIG, a business of impact.
Some common indicators that your business is in survival mode are:
- You own a very challenging and demanding job because you don’t have the help you need to grow your business.
- Your business is not making a profit.
- You are still in specialist-mode doing most or all of the client work and you do not have a strategy in place that maps out the process to manifest your vision.
But how do you begin to make the shift from hustling to getting things in place so you can grow your business?
One of the first steps to come out of survival mode is to increase your profit as soon as possible. You’ve heard the typical ways such as raising your prices, reducing your overhead or shift your target market.
However, there are other tried and true ways to increase your profit (some you hardly ever hear about) that you can immediately implement to make a difference in the next 30 days of your business.
If you are ready to learn the process that will take you from barely surviving to thriving so you can get some breathing room to continue building the business God placed with in you, then join our upcoming teleclass, 7 Out-of-the-Box Ways to Be More Profitable Now Tele-class coming up on Thursday, June 1st at 1:00 pm – 2:30 pm or 7:30 pm – 9:00 pm EST. Click Here for Full Details
Dedicated to Your Success,