Often we speak of people that are stuck in “dead end jobs”. Perhaps we feel sorry for them and we listen and sympathize. Being stuck in a career, working for someone else, a career with a very limited future; hundreds, perhaps thousands of American workers, feel that way. Fear and perhaps security play a part in their unwillingness to “step out of their box” and venture on to a new career.
In real life, many small business owners are suffering the same fate as the above mentioned employee. They may have a business which is not growing for a variety of reasons, including obsolescence, new competition, loss of interest on the part of the owner, new technology, etc. These businesses along with their owners, are stuck in their own type of “dead end”.
Step back and look at the beginning of the business. Can you feel the excitement when your dream was realized and your business was finally opened? That first client, that first referral, that first check made payable to your business, all these great memories, what happened to them?
It’s possible that you have outgrown your business, perhaps the challenge is gone. Maybe the product/service you started with is no longer in demand.
When you reach this stage in your business career, it’s time to step back and re-think the future of your business. If, for whatever reason, this analysis tells you it’s time to do something different, then take the next step and re-invent yourself. The worst possible move is to do nothing in hopes of surviving by doing the same thing over and over again.
You can start over again. Your current business can be the foundation, the building step for a new product or service. A new logo, a new name and a new marketing campaign can re-ignite the spirit.
In working with this situation I recommend a history review. Why and how did my client arrive at the starting point of this venture? What successes were there along the way? Why has stagnation set in? How can this business be put back on a growth pattern? Sometimes a business can be rejuvenated; other times, it has to be replaced with an entirely new venture.
As a small business person you had the GUTS (God’s Undeniable, Terrific, Secret) to start from scratch. A second start based on your experience and enthusiasm may be what is needed.
To be what we are, and to become what we are capable of becoming, is the only end of life.
Robert Louis Stevenson
Nick J. Petra CFP It takes GUTS to admit you would like someone to talk to and to coach you. Please call me at 602-989-1592 for a confidential visit. email@example.com www.strategicduck.com