Every business owner hits a slump from time to time. You might be in one now, just getting out of one or starting to feel one coming. The key to dealing with it is to do so in a manner that will benefit you when you come out of it.
Sometimes a slump is caused by your actions, but they can also be created by forces beyond your control. Today we often use “the economy” as the outside force responsible for what is happening. Maybe nothing has happened except that you are tired and burned out; many business owners work too long and too hard and that effort cannot be sustained indefinitely.
A slump can develop when we grow tired, not of the work, but tired of the sameness of the job.
With nothing to challenge us, nothing new and exciting, doing the mundane will slowly draw us into a period of reduced energy, lack of focus and less caring about what is being done.
How do you deal with a slump? The first step is to recognize that you are in one. Many owners don’t want to look in the mirror and face the reality that things aren’t going as well as they once were or as well as they could be.
It would be better for you if you took a long look in the mirror and faced the facts: things aren’t where you want them to be. Tell yourself: “I am in a slump.” The more you say it, the more you will accept where you are, mentally and physically.
When people go into a slump, it is like being physically ill with the flu or a bad cold. You feel some symptoms, you tell yourself that you are just imagining things, then, before you know it, you are ill beyond belief. While you might try to continue to function normally, your production is low and in the end, probably not worth the trouble of doing. When you get this ill, it is hard to remember what it feels like to be well. The recovery is seldom quick; it takes days and sometimes week to get back to being normal.
The help that comes to fight a slump comes from two sources: either from inside of us or from an outside agent. Most people grow tired of being a slump, decide that they will no longer be a victim of their own actions or outside forces such as the economy, and put together a plan to implement changes in what they do and how they do it.
Others need an outside agent to get jump started. Often this force is something fearful, because most people will go to great lengths to avoid pain.
Don’t fight the fact that you are in a slump; accept it for what it is: a short term condition that will pass if you take the right course of action to turn things around. The question is what is the right course of action to take?
When a ship comes out of a storm, the captain and navigator reorient the ship to determine where it currently is, and where the destination is. Knowing those two things, they make a decision about the course to take, and then they start moving in that direction. All the while they are making sure the ship is seaworthy, the most basic element of seamanship.
And so it is with being a business owner in a slump. Go back to the basics. Start practicing the fundamentals, those things that made your business a success “way back when.” Since you already know where you are, the next logical step is to establish a destination for yourself. Make it measurable, and achievable. Work hard, but work smarter.
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