Boxed In
Is your business scaling beyond your current means? Do you fear being boxed in your business model?
During Alice's adventures in Wonderland, she grew to various sizes - often more prominent than necessary. As you progress with your business or pursuit, you may think, "this is becoming too much for me to handle."
Perhaps you're attracting more clients than anticipated and don't have the infrastructure to support the demand for your services. Or your pricing model isn't sustainable to be profitable. Or your supply chain dissolves.
Being an entrepreneur and operating a small business is risky, and most of the risk, if not all, falls on you.
One of those risks is establishing and maintaining a sound business plan to scale and flourish, which can be overwhelming. Many small business owners and entrepreneurs run on adrenaline - the excitement of being in business for themselves, the thrill of claiming 100% of the profits, the ecstasy of blazing a new trail.
But, if you don't thoroughly plan before executing, you could end up stupor with the walls caving in on you.
To avoid feeling dazed, you need to plan a strategy to overcome it and include safeguards to allow you to scale your business versus letting your business scale you. And, it's never too late!
Here are six tips and recommendations to help you if you're feeling things are becoming too large to handle:
Pause the clock. Stop what you're doing and take a moment to reassess what "success" really means.
Seek assistance. Ask a trusted colleague or friend to help you optimize your business plan.
Stay calm. Take a breath and remember you are in control of what you and your business are capable of.
Get smaller. Revisit your business portfolio to eliminate unprofitable or unnecessary products or services.
Get larger. Expand your team, invest in a CRM, or partner with entrusted professionals in your industry.
Learn Lessons. Accept your faults and losses and use them to improve your business model continually.
Remember! You drive your success and control the path! And sometimes, you must alter the way to make the journey easier. But, if you don't shift course, you'll remain boxed inside your business plan.