Some Causes of Business Stagnation and the Quick fix as it applies to them
The early stage of a business growth can be likened to lilies on a lily pond, in which the business grow rapidly for the first few years and as the owner of the business or entrepreneur, you are of the thought that "this is already a success and nothing is stopping this". Then without any sign or notice that serves as warning, usually at year 3 or 4, you feel very relaxed with a settled mind full of anticipation and excitement for the arrival of the final set of year end numbers.
You received a message in your inbox, you take a read and all of a sudden your whole body is engrossed and consumed in a feeling of dissapointment and frustration . You sit back slowly and gradually into your chair feeling emptied, your whole body is numb, your bowels are numb, and your inner feeling is disgusting. A low voice in your heart starts screaming in unhelpful comments, and you keep asking yourself series of rhetorical questions.
How come my business is recording so much setback?
How come those profits and revenue are not surging in as expected?
I've worked even harder this year, but why is this not paying off?
What I want you to realise is that most business at its early stage has a momentum to grow organically that you might not even need to do much to see that happen.
However, the only truth is that the fact that everything is going swiftly for you presently doesn't mean it will keep going like that. The question now is what should you do when you see your business growth stagnating?
Giving response to this in a hasty manner will be to invest more money in the form of active marketing in the problem or to try and get some cash to reinvest into the business. However, there is more to it than that.
Among many, I will like to give an highlight of one or two causes of business stagnation alongside some quick fix as it applies to the them.
1. Having a flawed or outdated business plan
After planning, you can see how everything works before you start your business. But things does not always happen as planned. And as a result of this, this business plan is incorrect or outdated. You will find that along the way you are adjusting more and more to make things work as you expected and this can make things even tougher.
Quick fix: maybe what you need to do is review your overall plan and see if it fits to the modern day plan. It takes years for a business to be built, and in a year or two a lot is changing and developing, including economy, customers, products and services, your goals and even much more. If necessary, look into this and make the necessary changes that is required to get back on track.
2. Settling for something too comfortable
You started your business having great plans, but you found yourself relaxing somewhere along the line. Instead of you to focus on building your business, you decided to adjust your great expectations according to the business constraints.
Quick fix: It is up to you to make up your mind to up your enthusiasm and regain the passion you once had towards making that business what you want it to be. You need to leave your zone of comfortable and set bigger goals for yourself and your company. Don't settle for less and be your own cheerleader!
In conclusion, before you borrow any money or spend another penny on marketing, there is need for you to assess the problems, be dynamic in your strategy and skills and be consistent with some added backups from some experienced people for you to outshine those drawbacks.
Thanks for reading