I read this story that an etrepreneur was at the tipping point that many business people can relate with. Her income from sales was growing. It grew rapidly after couple of years of scaling it up.
This person working hard for 6 years but the income came not as she expected so the patience was getting low and she was very dissatisfied. Working hard and putting time and effort into it but she was ignoring family and friends. There was no time to eat lunch or even no time to go the bathroom.
She could not face the situation that occured. She needed to make changes to gain more profits from her business.
This person was at a situation that skills and knowledge she had obtained was not enough to keep her business moving forward to make more money. This can happen and seems not to grow beyond the start up stage. If you facing such a moment. You need to realize that you are alone on this journey of making money with a business.
You have certain choices to consider and tasks to undertake. Here are some of the matters that you can explore for your self to pump some life blood into your business.
It is just not possible to be stressed over running a business and not getting sufficient rewards for your time and effort. When you face this moment. Then soon or later you will realize that you can not continue to run a business when you look at the factual situation of unsufficient profits. If you feel that there is no other option. Then you need to realize that there always a second chance.
You can not fill up a full cup. To grow your business and be more profitable with your business then you have to change to create new things that add more value to the products you sell. This can change of the quality of the product, price, logo of the products or colors of the packaging.
Ask your self this question, are you working IN your company or ON it? This brings you really home. If you are so involved in your business then you will not be able to do anything else. This mean that you are killing your social life over your income. This will slow down the targets you want to reach with your business. You may want to find out if there are tasks that you might want to outsource. Also there might be things that can leave out.
What types of essential turns can you take on the road to the riches. This can be changes you can make to responsibilities, it can be let employees getting more hold of the situation and not involving you to help them out getting direction from you. Be ready to let go of your desires of being a control freak. In the initial situation when you have the job interview to hire people to work for you, you need to make reliable decisions. Then you can switch your role from mentor or coach to help your employees build confidence to act in a role where they will work without depending on you. Give them the space to get a hold of being independent.
If you ready to change at this tipping point of the company. This command you need to follow if you want to succeed. There must be a collective change including you. You can proceed to change and do things in an other manner. Being a control freak will not get you out of the stress you are facing. There is the option you can choose from to change. Learn how to let go to change and grow. You can give direction in your company. When you ready to change then you can clear your head.
You also need to ask your self this question if the essential changes enough. This means you have to put time and effort into making changes. You will face some issues of your own when you go through changes. You need to ask your self if these changes made is my valuable time and effort rewarded. It might give you a idea that these essential changes are not putting any fear into your head. That might sound comfortable but they are might not be. These essential changes might not be enough.
Is you cash flow sufficient? The growth stage requires a steady cash flow. If the cash flow is not sufficient you will be not able to move to the next level of generating profits. So get the cash flow sufficient. Get advice from the accountant and the consultant to move towards further progress. Keep a close eye on the expenses of all the departments.
Check out if there are the qualified employees in your company to move your business to the next level. You will depend more and more on your staff as you set up bigger plans to grow your business. Give clear directions about what they need to do to make more profits. Spread the tasks to the qualified department. Do they own the proper knowledge and can they handle instructions given to them.
When you are about to make changes give the staff needed responsibility. It is also important to give them authority over discrete areas. Enchant a mantra of pride and ownership over the responsibility you give out. Talk about future expectations and targets to reach in a certain period of time. And discuss the matters like time, resources and if what type of support they need to get the job done. And paint a clear picture how the success will be rewarded and measured.
Realize that not everybody have to give directions or an idea innovator. If you own the capacities to lead then you are no stranger to this one. Keep in mind other qualifications you own are valuable too. Some work can be done by someone who as usual do this job.
Make sure that you will be clear. You have the responsibility to create a soothing culture of your company. You need to create a culture of empowering the employees that attracts the qualified people. Also build loyalty and trust within the company. Sharing needed information within your company can accomplish that. This will make the staff follow your instructions and they will share information too. That is what brings inspiration and innovation.
Original article source: EzineArticles.com
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