Have you fallen out of love with your business? Get back to your honeymoon stage with these helpful tips.
Owning a business takes your utmost commitment in the areas of time, resources, emotion, and energy. It is a lot like nurturing a meaningful relationship.
First, there’s the “honeymoon phase” of starting a business. During this time it is easy to remember why you started your business, your passionate, your idea is still young and developing, and you tell everyone you bump into about your new love. You are genuinely excited to help your clients with your great product or service and it is clear and easy to understand what you are working towards. In the beginning of your business you often had rewarding times of reflection to work out new ideas to help make it healthier. Your time with the business was focused on growth.
You had an idea. You nurtured the idea. You make it legal and start a business. You work hard day and night to develop the business. There are sacrifices you make for it. Your social life is affected. The once bright and obvious spark between you and your business seems to be fading slowly. Two years pass, then before you know it, the five year mark is reached. You might be bruised and battered, but you are still alive and you are still committed to your business, but for some reason there is something robbing the passion you once had. Something is different. Instead of having time to sit and dream about what the next year will bring, you’re stressing about scaling growth, complying with employment regulations, and the IRS is breathing down your neck. After all the small daily admin chores consume your entire day at the office, you constantly worry about keeping the business afloat, keeping your employees happy and the IRS from shutting you down, you realize….I’ve fallen out of love with my business.
You hear couples say it all the time…”How did we get here?” Don’t let this happen to you and your business! What steals that passion you once had? Is it something you can eliminate? Can you reignite that love you first had for your business? We are here to tell you, YES! You just need to identify what is stealing your joy during the day, develop a plan to eliminate this, and then fall back in love with your business.
Here’s 5 Tips to Help You Fall Back in Love With Your Business
1. Protect Your “Business Time”
Think of this as a Date Night or “us time”. Have you heard the old saying that the key to staying happy as a couple is to never stop dating? Once again this can be applied to owning a business. It is important to have some dedicated time where you sit down and get back to the basics. Spend time working ON the business and get back to doing what you loved in the first place. Go to the entrepreneur place in your mind and enjoy being able to look at the fun things like growth, market trends, and the high level stuff that excited you about being a business owner in the first place. Problem solve the big problems, not the hundreds of small ones. Never stop having this kind of “business time” with your business.
See also: The ABCs of Business Protection
2. When the Kids Come, They Don’t Have to Change EVERYTHING
Your first employee can be scary. Employees can be like kids when they’re introduced to a newlywed couple. They tend to change things. It won’t always be just you and the business. In fact, you should hope that it won’t be… since hiring employees is a great sign of growth! Just make sure that you protect what is important to your business and you don’t let employees change this. Remember that just like kids can add unique things to your relationship while strengthening it, employees can do the same thing for your business. If friends are like family that you get to choose, employees are like children you get to choose! It’s actually the best thing ever, if you choose wisely.
3. It’s OK to Hire Help for the Kids
It is important that you don’t allow the burden of employment tasks to keep you from doing what you love to do. Don’t feel like you need to be in direct control of your employees 24/7. Business owners need to realize that they don’t always have to wear the “employer hat” . You are usually wearing too many hats during the day as a business owner. Try to find a key person or partner to wear the employer hat for you, and you can focus on the business again. Think of it like letting grandma take care of the kids for one night a week.
4. Remember Why You Fell In Love
The most respected and successful business founders often give entrepreneurs and business owners the same advice. Don’t ever lose your passion to help the client. When it all comes down to it, the most rewarding thing about owning a business is providing a great product or solution that makes your client’s lives better. That is what its all about. When you feel lost, burnt out, and like giving up, remember why you started in the first place. Your client. Without clients your business ceases to exist. Spend some time empathizing with them, understanding them more deeply, learn how they’ve changed over the years with you etc. you’ll be falling back in love in no time.
5. Don’t let Money Get Between You
This is last on our list, but it may be the most important. Money can control a lot of things in the business world, but don’t let it control how much you love owning your business. Was your goal when you started your business related more to freedom or to financial reward? Most entrepreneurs will tell you they started their business based on a passion for the freedom that comes with being your own boss. Put your happiness at the forefront, and put the importance of money in check. Enjoy your work today.
Happy Valentine’s day from Employers Resource.