Often people ask me how I coach entrepreneurs about the feast and famine phenomenon of being in business. A while ago I dealt with this topic by writing an article, published in Mompreneur Magazine. I wrote it from the perspective of just about anyone in business for themselves, whether a startup or having many successful years at it.
“This morning when I opened my calendar, everything looked different. Surely someone’s been playing with my computer. I could swear I had appointments booked and paying clients taking every available spot for the next two months. I must be having a bad dream. Pinch myself. Nope. It’s true – I’ve hit the dreaded dry spell!
Entrepreneurs talk about it all the time as part of the game, but being in it is an entirely different thing. If you are like most business owners, you haven’t yet managed to balance the feast and famine phenomenon. The question is, “What do you do when the famine hits?”
First of all, BREATH!!! Preferably without hyperventilating. Don’t panic. Don’t throw in the towel. Don’t check the employment ads. Do remind yourself why you started your business. Do remind yourself of all the successes you’ve enjoyed and will once again enjoy. Do remind yourself if you are just starting up, that it takes time to build an active business. Do park your negative self-talk and replace it with positive affirmations, like “Today I am one step closer to experiencing the wild success that I’ve dreamed about!”
When things are looking a bit slow, do the following:
-Go to your database and call all the people you’ve been meaning to stay in touch with. Arrange to meet and exchange ideas or just have a coffee and find out how you can help them with their objectives.
-Apply a referral selling process. In No More Cold Calling™, The Breakthrough System That Will Leave Your Competition in the Dust, Joanne Black puts forward a practical approach to building your business through referrals. This simple system can propel your business through the roof without wasting business development time.
-Attend to the business planning that you may have been procrastinating about. Revisit your business and marketing plans. It will likely re-energize you.
-Find a coach. Whether hired or a business buddy, it’s very helpful to have a thinking partner, someone to share with and encourage you to keep your eye on preparing for the next delectable feast.
-Learn something new. Take the opportunity to read the last business book you bought and put on your nightstand or attend a training program that’s been on your to do list.
Most of all, remember dry spells are temporary and keeping perspective is critical to your success. The objective is clearly to have fewer dry spells and more feasts. However, dry spells are inevitable for most entrepreneurs. If you find you are stuck in dry spell, do get some guidance from someone who can provide insight for you and be prepared to explore difficult possibilities. As Jim Collins says in “Good to Great,” Confront the brutal facts, yet never lose faith.”
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