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.
I call it going down the wormhole!
You know that time when whatever you do just doesn’t seem to be working? Unless you’re Mark Zuckerberg or Bill Gates, chances are you’ve experienced that sinking feeling of a business that’s trending downward, too.
But how you handle it can mean the difference between continued success and business-killing burnout.
Here’s where a lot of entrepreneurs get it wrong. They start to worry about money, and that worry leads to poor decisions that ultimately have a negative impact not just on finances, but—maybe more importantly—on their mindset, 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 looking at your laptop.
You Stop Creating and Start Constricting.
And who can blame you? With profits down, you have to pull back. You can’t afford to spend time and money creating new programmes, so you recycle the ones you’ve already produced.
Now, this would be ideal if you were repurposing with a positive intent. Turning your ebook into a group coaching course? Perfect! But that’s not what your fearful brain is telling you.
Your fearful self is saying, “Just re-release this same product again, so I don’t have to have new sales copy written or record new videos.”
And while this might help bring in a bit of cash short-term, it won’t do anything for your reputation or your self-esteem.
Yikes! That’s no way to operate a business, but that’s just what a fear-based mindset can do to you.
Better (much better) to hold out for that perfect client.
And while you’re waiting, take what you’ve learned from your drop in sales and create the killer programme your audience is clamouring for!
Needing help converting those leads into the perfect customer? I have a great planner with checklists and hints and tips for you to do exactly that.
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