When you founded your startup, you were brimming with business ideas, excitement and determination to succeed. However, somewhere along the way, you fell out of love with your company. Maybe it’s not what you expected, your enthusiasm has dwindled, or you’re facing a rough case of founder burnout. The good news is: it’s not too late! You can still turn your startup business around and fall in love with it again, and here’s how.
Seek Out Some Expert Advice
Can’t see the light at the end of the tunnel? Sometimes it helps to talk to someone who’s been in the exact same position as you’re in now to see how they survived and made it out the other side unscathed. If you have some startup friends with more experienced than you, or have been running their company for a while, it’s very likely that they’ll have experienced exactly what you’re feeling right now. Ask them how they overcame their own startup struggles and fell back in love with their businesses.
If you’re a small business in the UK, gov.uk have compiled a list of fantastic resources you can use to get support and advice for growing your startup. With networks, forums and even advice on where to find a mentor, there’s a treasure trove of tools for gaining that expert advice.
Upskill Yourself and Your Colleagues
If you’re losing sleep over your business, it could be because you need to polish up your entrepreneurial skills. To maintain your business’ success, you’ve got to also maintain your skills! Maybe you’re unconfident and find talking in front of large groups in presentations and at events
uncomfortable completely terrifying. Or maybe you can’t seem to connect properly with your target audience because your SEO skills leave much to be desired.
Whatever skills you need to develop, and whatever stage of your business you’re in, from just starting out, to serial entrepreneur, check out this list of effective, free online courses – there’s sure to be something to suit you or your colleagues!
Hire a Business Coach
Sometimes it’s hard to see the wood for the trees – you’re so focused on the details (trees) that you’re forgetting, or struggling to see, the big picture (the wood); you’ve lost sight of your initial goals. In situations like this, you need to find a clear perspective. This is where a business coach comes in.
A business coach is an outsider, meaning that they aren’t as caught up in the nitty gritty details as you so they can offer a clear, objective approach to your business. From helping develop your leadership skills to advice on how to minimise common startup mistakes, having an experienced business expert on your side can really give you the boost you need to turn things around for you and your business. A bit like how a relationship counsellor can help save your relationship with your partner, a business coach can help save your relationship with your business! Here are our top three reasons why every entrepreneur needs a business coach.
Go with the Flow
You founded your startup business because you were (and probably still are) passionate about solving a problem in the world. So, what do you do if that problem isn’t quite what you thought it was? You need to adapt your business to suit the real needs of your target audience. We’re not saying to completely change your business idea – you just need to keep tweaking it until it becomes what you want.
From changing customer needs, up-and-coming competitors and new technology, as a founder of a business, you need to be ready and willing to adapt your business to change. Ever heard the saying ‘keep your friends close and your enemies closer’? Closely monitor what your competitors are doing to stay ahead of the game. You should also conduct some market research to really determine what it is your customers want from you.
So, whatever issues your startup business is currently facing, have confidence that it’s not too late to turn it around! From getting some outsider perspective, to making some small changes around the workplace, little adjustments can help your startup evolve into something you love again. If you still feel like you’re in a bit of a business slump, check out this great advice on how to break out of your rut.