Time for a Business Makeover?

Slumps happen. And although there can by any number of reasons a small business owner falls into a slump, including today's tough economy, the important part is finding a way out. Here are eight highly-effective strategies to focus your efforts and get back on track.

1. Innovate

In tough economic times we all deal with cash flow and profitability issues. It's a perfect time to step back and brainstorm ways to improve your business with limited resources. Don't hesitate to contact an expert to help you come up with a new way to view your business, unleash your passion or create a million dollar idea that will turn your business around for years to come. Check the credentials of the coach and/or consultant you are thinking about working with to ensure it's the best fit for your needs.

2. Monitor Cash Flow

In tough economic times, entrepreneurs and small business owners must challenge themselves to cut out the fat and efficiently manage and allocate financial resources. It's the best way to boost your bottom line and reduce some of the month-to-month challenges.

3. Focus on the Good Stuff

In the midst of the a slump it's easy to become negative and lose sight of your dreams and goals. One way out of that slump is to emulate the good works of entrepreneurs and small businesses helping their communities. Dig deep to see if there is some action you could take that would make a difference in your community. Find ways to unleash the positive energy that inspired you to launch your business. In the process you'll pull yourself out of your own slump.

4. Become the early bird

Granted, a lot of slumps happen because small business owners feel burnt out, but there's a clear difference between working hard and working smart. Part of working smart could be getting into the office an hour earlier to organize your day, set out exactly what you want to accomplish (on paper) and strategize action steps to accomplish your goals. This way you avoid getting distracted by meetings, phone calls or other interruptions.

5. Change the environment

A lot of times, a small business owner's workspace can be a reflection of his/her motivation. Shake it up! Re-organize everything in your workspace, create order out of chaos, add a plant, or replace old pictures on the wall with new, inspiring ones.

6. Bring former customers back into your life

Business owners do their very best work when they're connecting with and serving ideal clients yet often times business owners neglect the very customers who are the key to success. Win them back! Make contact with former customers or clients via any number of guerrilla marketing tactics - a survey, a hand-written note card, a telephone call, a newsletter, a targeted brochure. When they respond, pay attention to their business needs and listen to their comments and concerns. Clients who think you care about what they want will keep coming back for more.

7. Hire a virtual assistant to combat stress

Slumps happen when entrepreneurs and small business owners try to do everything on their own. When there are not enough hours in a day to accomplish all of your work projects, deadlines, and must-do tasks, it's time to think about outsourcing some of the extra work to a virtual assistant. It may sound counter-intuitive during tough economic times, but it will actually free up valuable time to for the most important aspects of your business. Being able to unload even the ins and outs of daily life can bring enormous relief. Paying bills, booking appointments, website design, picking up the dry cleaning, gathering quotes, you name it... these are all things you can delegate to your very own Virtual Assistant. Business owners who can delegate are the ones who remain calm and clear headed. They can weather a tough economy and business slump.

8. Follow the Rule of 3 Every Day

The Rule of 3 advocates completing 3 measurable action steps each and every day, no matter what. It's something we practice and encourage our clients to do as well because we believe satisfaction comes from action. Imagine what you could accomplish if you were to do 3 things every day to further the achievement of your most important goal or business dream. You'd be unstoppable! At the beginning of each day, determine 3 action steps you'll complete to promote your business. Will it be 3 interviews for book sales, 3 sales calls for new work, 3 media pitches, 3 written notes to prospects or loyal customers. You get the picture. Complete 3 action steps daily to skyrocket success.

9. Change your mindset

Yes, slumps happen. But when you face them head-on, you'll quickly change your mindset and get back on track. If you can't rise above a slump, it's imperative to seek the unbiased support of your business and marketing coach to revamp your thinking and your business approach. Words like "failed" and "disappointed" - even "okay" - will no longer be in your vocabulary as they'll be replaced with empowering words like freedom, pr*ofits, passion. And isn't that why you launched your business?

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