How many of you have been completely overwhelmed by your business? You think you have it all under control until either rapid growth or problems change your mind. You find yourself so involved with every aspect of the daily grind that you can’t focus on solutions for the situations at hand. It’s a tough place to be, but there are ways to both prevent it from happening and to gain control if you’re already there.
We’ve all been there, some say it’s part of the learning curve. Others just accept it as a way of life and part of the sacrifice it takes to be self-employed. Both, in their own ways, are partially true, but what can you do to maintain control?
To begin with, make sure you have the legal aspects (e.g. contracts, operating agreements etc.) in line before you need them. Protect yourself and your business (separately) before you regret it!
Another way to curb some future stress, especially if you’re in the Start-up phase of business or if you’re launching a new product or service, is to plan for various scenarios. For example, what are you going to do if it’s incredibly successful? What resources will you need to fulfill your obligations? How much can you handle? When will you turn a customer or client away? On the other hand, what if it fails to gain any traction? How are you going to adjust? Will it require additional resources to adjust and what are those resources? When do you cut your losses?
The most effective thing you can do is to create systems and processes that make your routine tasks more simple, more consistently accurate, trackable and duplicable. This allows you to delegate tasks more effectively with less possibility of misunderstandings or mistakes. In my experience, this is the biggest game changer for most of my clients. It is the best way to shift the trajectory of your business towards becoming a well oiled machine that allows the owners time to focus on running the business.
Remember, you’re the CEO and it is ultimately your responsibility to control your business. We all know that’s hard to do. It’s never easy to run a business, but if you don’t control it, it will definitely control you! If you’re currently in this situation; take a breath, identify your issues, devise a plan to resolve them and start implementing your plan.