Everyone loves a good comeback story, but very few happen without brutal truths and planning.
Every business has its challenges. To sit here and tell you that nothing will go wrong would be flat out lying to you. The reality is every business faces challenges, particularly financial challenges, at some point. It might be losing your biggest client, having a slower year, or perhaps going through a breakup in a partnership.
Want to Rule the Comeback? Don’t put your head in the sand!
This would have to be THE biggest mistake made when businesses get into trouble. As harsh as it sounds, successful business rarely built emotional based decision making. Don’t get us wrong, we get it it’s hard, but as soon as you lose your ability to systematically work the issue, you’re much less likely to bounce back.
Talk to people who are not going to sulk with you
The business community, particularly in the Shoalhaven & Southern Highlands, can be a powerful resource to help you keep inspired to bounce back. Your friends and family are probably not going to help you out too much in this area. They are the ones who cry with you when it's tough, and dance with you in the good times. This is what they are best at, and you need that too!! So make sure when you're in a crisis and looking to bounce back find people who are going to encourage you to get on with it, and help you stick the course.
Build a comeback plan!
A comeback plan is important firstly to map out what it is that's causing the problem.
Secondly, what will make the problem go away?
And thirdly, how do we get there?
Get advice from the right people
Once you've controlled the emotions, the next step is to talk to the right people who can help you build your comeback plan. As business advisors, we want to help you find the practical steps to restoring your business to full health! Your business is important to us, You are important to us! So we want to do everything we can to help you rule your comeback. If it’s something we can’t potentially help you with such as legal issues, we know the right place to turn to.
Get on with it!
Once you have a clear path forward, and a goal to achieve get out there and bash that target down!!!! Focus on getting the job done. It’s all about the little steps. Each hour / day / week take steps towards overcoming your obstacle. And before you know it, you will have fought your way back and ruled your comeback.
The Brutal Questions
- What is the obstacle that is currently threatening your business?
- What pressure is this placing on your business?
- Who is going to help you make a plan?
- How are you going to overcome this issue?
- Who are the people around you that are able to encourage you to get on with the task at hand?
Not sure where to start or need help with getting going? Contact Clifton Accountants.