☰ Menu

The #1 Ladies Millionaire Maker

15 Ways to Bounce Back When Your Business Comes to a Standstill

Do you remember the day you signed your first contract or served your first client? Do you remember the excitement of receiving that first payment? Of opening your business bank accounts and officially incorporating? Do those wonderful experiences feel like distant memories now? If so, the information in this article is vitally important for you. It just might change the course of your business, or even your entire life.

I see it so often with my coaching clients. Running a business can be hard. It will be hard at least some of the time. It’s easy to get discouraged, feel overwhelmed, and throw in the towel before achieving success. I’m here to let you know that it is not your time to quit. You’re destined for great things, but you must press in and persevere to obtain them.

If your business isn’t growing, or if it’s declining, then some or all of these points will be relevant and important for you. Read on to start bouncing back!

1. Believe Again.

Too often, an entrepreneur’s business comes to a standstill because they stop believing that they can move it forward. They lose faith in themselves and what they know they need to do.

If you’re going to achieve consistent success, you must have consistent belief. Use your meditation time to shore up your beliefs. If you just can’t see yourself succeeding, then you need to get in an environment where you can be inspired!

This week, work on shoring up your beliefs. Write them down and say them out loud. This process of affirmation is so important. Say it over and over again, until your heart catches up to your mouth. Say it until you can see it happening for you!

When Ariana Huffington, founder of the Huffington Post, tried to publish her second book, she was rejected by 36 publishers before she eventually landed a deal. When she first launched the Huffington Post, it was greeted with many negative reviews from other media outlets. She bounced back from these challenges and she has since been named by Forbes as one of the most influential women in media and made The Guardian’s 2014 Top 100 in Media list.

Tweetable Inspiration: Click to Tweet
It's never too late to become what you might have been, so make today count!
2. Set Your Intentions.

You must be intentional about your business and your goals. Sometimes entrepreneurs think that this part doesn’t matter. They prefer to focus on the ‘practical’ side of business and skip goal-setting, writing, journaling and creative thought. They have the attitude that “I just want to make money.” Unfortunately, the steps they’re skipping are the steps to clarity that lead to cashflow!

Don’t skip over the most important part of your business – your vision – to “get down to business.” As an entrepreneur, you must have a compelling vision for your company that is contagious to everyone you come in contact with. This can only come through your time spent being intentional.

This week, get intentional. Set an intention for your business. Maybe you want to make $1000 more this week than you normally do. Write it down and map it out! What can you do differently to get a different result? Take some time to think creatively about your business, and the ideas will start to flow.

If the concepts of journaling for business, goal-setting and writing are somewhat foreign to you, check out my 37 Journaling Secrets for Success Attraction course, which will empower you to change your business and your entire life just by writing things down!

3. Detox From Negative Associations.

Failure should not come as a surprise if you surround yourself with failures. If your closest associates aren’t succeeding, then they’re probably giving you bad advice. Think about it this way, if you and your closest friends are always brainstorming and conversing about how you’re not going to make it, then you’re probably not going to make it!

The wrong people will make you back off the right connections. Take time to assess your relationships and make necessary adjustments. It won’t always be easy, but it will always be profitable. Make time this week to be in the presence of an optimistic, very successful business person. Offer to buy them lunch and see how impactful that can be! A 15 minute conversation with the right person can change everything.

“I’ve had to make some really tough decisions but ultimately, I think the best companies are those that can recognize when something isn’t going right, and fix it, instead of just turning a blind eye because it’s easier.”
Ben Lerer, Cofounder and CEO of Thrillist Media Group (Source: Fast Company)

Tweetable Inspiration: Click to Tweet
Keep yourself around inspiring people!
4. Re-Vamp Your Products or Product Image.

Sometimes we get stuck pushing something that needs to be revived. Something that people don’t want (the way it is). It needs to be re-worked, rejuvenated and redone before it’s re-launched.

In most cases, you need to add one of two things to your offering: more expertise or more heart. Take a look at your products and services that aren’t selling, chances are they’re lacking in one or both of these areas. You have to take the time to fix things, you can’t just keep re-marketing the same things over and over thinking you will get a different result.

Before he was a co-founder of Twitter, Evan Williams launched Odeo, a podcasting service. iTunes eventually eclipsed that business, and he turned his attention to his new social networking service, Twitter. Now it’s one of the most-visited websites in the world.

5. Get Your Confidence Back.

When you experience failure or setbacks, your confidence can be shaken. There is almost nothing that will effect your outcomes more than your confidence in yourself. Low self-confidence will make you shrink back and play small.

If you believe that you’re meant to succeed in business, then let that be enough! Don’t worry about naysayers. Don’t worry about what people think. Most people have enough of their own issues that they’re not overly concerned with what you’re doing. Even if they are, they don’t determine your level of success, you do!

“Far better is it to dare mighty things, to win glorious triumphs, even though checkered by failure…than to rank with those poor spirits who neither enjoy nor suffer much, because they live in a gray twilight that knows not victory nor defeat.”
Theodore Roosevelt

6. Be Grateful.

If you’re not where you want to be, then you’re in the same position as most people! Even most billionaires and people we think of as ultra-successful have goals and dreams that are as-yet unfulfilled. It’s vitally important that you maintain a grateful attitude for what you have accomplished.

Practice on-purpose gratitude daily. Write down what you’re grateful for. As you focus on what’s good in your life and business, you’ll find that you begin to attract more goodness.

Tweetable Inspiration: Click to Tweet
A grateful attitude is a magnet for miracles.
7. Make A Plan.

If you have no plan, then your chance of succeeding is low. A vague idea that you want to do well in your business is not enough. You need a step-by-step plan of action to get you from where you are to where you want to be.

Planning starts with pen and paper (or keyboard and screen if you prefer). Write down your goals for your business! Goals are a great start, but they are not your plan. For each goal, write down the specific steps you need to take to achieve those goals. There should be something you can work on now to begin moving toward each objective. Make a plan for launching new products, a plan for marketing, a plan for your cash flow, a plan for your team. For every aspect of your business, you should have a well-thought-out plan!

If you don’t have a good plan for your business, and you’re not sure where to start, you need a coach. Someone to show you that’s been there themselves and knows how to avoid the pitfalls and hangups. A good coach can increase your business exponentially in ways you just never could on your own.

“I’ve thought I was going to fail many, many times. Each of those times is when I rely on mentors and friends to discuss crawling my way out. There are more quantitative failures, which happen all the time—where you have to be careful is not letting it affect your sense of self and self-worth.”
Meredith Fineman, CEO of Finepoint Digital

8. Rebrand Everything.

If you’re not making the profits you desire or need, then you’re probably not marketing enough, not marketing well or both. Take an objective look at your brand image, advertising, and message. Get feedback from your community and customers.

Rebranding can mean anything from tweaking your logo to creating a whole new image for yourself, your brand and your products or services. I have a great resource for branding called The Reinvent Your Brand in 30 Days Home Study Coaching Program, if you need to rebrand you should definitely check it out.

Bill Gates and Paul Allen had to bounce back when their first software company failed. They changed their product, their strategy and their marketing and went on to found one of the largest companies in the world, Microsoft.

9. Fix Your Website.

Whether you’re an e-commerce store or a local restaurant, your web presence must be top-notch. Most of your potential customers and clients are checking out your website before they ever meet you or do business with you.

If your site looks dated, has poor-quality images, doesn’t function well or is otherwise sub-par, this will definitely affect your bottom line. It may cost you some time and money to get your website to a high level of excellence, but it’s a worthwhile investment.

Make a checklist of everything your site should have, and do an evaluation. Are the images high quality and appropriate for your theme? Do you have a strong call to action? If you’re selling products, do you have a store? Is your store easy to navigate? Is there enough information about each product so a visitor can make a buying decision? Do you have something exciting on your homepage to keep a visitor there more than 10 seconds? These are some basics, and there will certainly be more for you to look at. Do an honest review of your site and then get to work!

10. Adjust Your Prices.

You might simply be charging the wrong price for your market. Do some research, see what comparable offerings sell for. This doesn’t always mean you’re charging too much (though it certainly can), you could be charging too little! If your target market is looking for the best in your category, and you’re charging bargain-basement prices, you could be turning away a lot of business, all while losing money on the sales that you do make!

11. Set Yourself Apart.

As consumers, we have more choices than ever before. In almost any category and industry, there is someone else offering something similar to yours. For most of us, the internet makes our competition just a click away. To get and keep attention, you’ve got to differentiate yourself.

There’s something about your product or service that sets it apart. Maybe it’s the quality. Maybe it’s the look. Maybe it’s the way you deliver it. Maybe it’s just the experience of buying it. Whatever it is, figure out what makes you different from anyone else and tell your audience about it in your marketing!

12. Get Help.

Trying to do everything on your own can work for some business people for a while, but at some point you have to let go of some parts of your business. You can hold back your growth by refusing to get help!

This doesn’t necessarily mean hiring full-time staff. If your budget doesn’t allow that, you might get an intern, a part-time employee, or use a virtual assistant for certain tasks. Getting help will relieve some of the pressure on you and enable you to focus on what you do best!

13. Purge Your Team.

Sometimes our businesses are held back by dead weight on the team. Unproductive or negative staff-members can bring the morale of the entire company down. If your business is stagnant, take an honest look at your staff and make changes where you need to. If someone’s not a good fit, in the end, it’s the best thing for them and you!

14. Pay Attention to Your Money.

As I often say, money loves attention! You must be diligent when it comes to tracking your cash flow. You should know what’s coming in and going out at all times.

If possible, use accounting software and banking that syncs up with your smartphone. This makes it easy to check on your numbers when you’re on the go. Whatever your system for accounting, make sure you’re using it!

15. Step Up Your Service.

Poor customer service may be affecting your customers’ satisfaction, repeat business, referrals and, ultimately, your bottom line.

Remember that customer service isn’t just answering the phone when your customers have issues. It starts with the sales process and continues through to (hopefully) the next sale. Evaluate every step of your processes that customers go through and make sure your service is impeccable. If you already offer great service, look for details you can add to make the experience over the top!

Bonus Video: Success Stories from the Ultimate Success Tour LA

I am totally commited to your complete success in business and in life. As a coach to thousands of people, I’ve learned over the years that many people have the desire to succeed, but lack the necessary information.
That’s why I’ve made these awesome tools available to you, completely FREE.

Enter your email below to receive your free download of my powerful CD, Ten Millionaire Entrepreneur’s Secrets for Business Success AND the 6-week coaching system Path 2 Purpose.

 

This site uses Akismet to reduce spam. Learn how your comment data is processed.

  • Jamelle Sanders April 10, 2015, 11:02 AM

    Wow this is excellent Dr. Stacia! I’m a testament to the power or rebranding. It made all the difference!

    • Stacia Pierce April 23, 2015, 11:56 AM

      Glad to hear that Jamelle. Awesome!