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Quick Business Tip – What to do when going through a slump

Monday February 18, 2019

What to do when going through a slump

I haven’t met one business owner who hasn’t gone through this if they have ran their business for long enough, yours truly included. It’s only natural, but, a costly phase of your business. So, what are the signs that you are about to go into that phase? Typically, you are probably going through a purple patch and you start getting complacent and lazy. The little things you did by getting to a good level have suddenly deserted you. You are aware that consistency in business is one of the golden winning principles, but, consistency requires discipline. If everybody was consistently performing at high levels then, the competitive market place would be full of over-achievers. That is not the case. Each market place has more under-achievers than over-achievers, so, deciding that you want to be at the pinnacle of your industry requires incredible discipline and hence, consistency.

I’ve seen this constantly in business. Business owners get distracted with other opportunities, personal issues, property developments, each taking away significant focus from the cash cow they have already created.

So, this was all about how to avoid the slump in the first place. However, once it’s too late and you’re already in the slump, the best thing to do is to remind yourself how you performed just before you reached the purple patch and see if you can get to those levels. Get busy with the intricate details of everything you did. Do it consistently and watch it get you back to where you belong. If you’re not prepared to do that, don’t expect change. Of course, if you need assistance with all of this, don’t hesitate to touch base and I will help you along the way.

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