This is it – it’s what you’ve always wanted. Those twelve hour days, coffee-fuelled all-nighters and endless setbacks and doubters have all lead to this moment. Your small business has turned out to be a success!
There’s just one problem. Along with the joys of success, you now find yourself in previously unchartered territory, and it is frightening. You thought you knew what stress meant during the startup phase, but now your business is at full throttle, those early days seem like child’s play.
Small business success is thrilling, but retaining momentum requires a level of grit and determination many struggle to muster.
You’re different, though. You’re reading this post because you know there are ways to cope with small business success. So, without further ado, let’s dive straight in with 6 tried-and-tested methods for dealing with commercial success.
6 Ways To Cope With Small Business Success
Re-read your business plan (you’ve got one, right?)
Those countless hours you spent putting together your business plan were for this moment. When the key turns and your small business starts to become successful, it is imperative that you take time to look back at your original business plan.
How much of it have you achieved? What predictions were wide of the mark? What did you forget to do during the breakneck days of the startup phase? Go back to your plan and remind yourself of why you started your new venture.
Don’t let technology rule you
In modern day business, internet connectivity is ever-present and there is literally an app for everything. As a result, we can be reached no matter where we are and the pressure to deal with incoming requests and projects in real time can break many a small business owner.
You need some breathing space to ensure the success indicators are accurate, so don’t be afraid to lock away your smartphone and laptop while you take stock. Similarly, prevent email from ruling your life by practicing techniques such as Inbox Zero.
Ask for help
You don’t have to do this alone. Like a pop star who has achieved overnight success, you’ll need people around you if you’re to prevent yourself from losing focus on what matters. No matter how successful things appear to be, it can all disappear overnight without the right support.
Reach out and talk to people. Previous colleagues, family members and industry peers are now just a click away.
Ok, so the invoices are rolling out of the door and the bank balance is building nicely, and with that in mind, the idea of sharing the load may appear rather counterintuitive if it results in a share of the profit, but small businesses thrive on partnerships.
If you’re struggling to see the wood for the trees now everything has taken off, look at the constituent elements of your business and try and work out if anything could be outsourced to a partner. In doing so, you’ll be building a scalable business for the future and removing pressure from yourself.
If your business is starting to take off and you’re struggling to cope with the burden of success, you may be lured into a common coping mechanism which is to dip into the profits in order to treat yourself. In doing so, you’re missing a golden opportunity.
Rather than enjoying the proceeds at this early stage, re-invest the profits into your business. Build on your original idea and look beyond your current product or service offering. Gaining sight of and investing in the future will rejuvenate you.
Embrace your mistakes
Building a small business isn’t easy. You will have made several mistakes along the way, but don’t mourn missed chances and poor decisions – embrace them. Your business will only continue to be successful if you learn from your mistakes.
The above list will hopefully have helped you realign your thoughts and tempt you to start planning for the future. Look on the bright side: you’ve made it! Your business idea was the right one. Now, it’s time to take it onto the next level.
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