When Your Business Has Reached Maturity- Part 3


When Your Business Has Reached Maturity- Part 3

It has certainly been a wild ride since part 1 and part 2.  Stepping away from my business last August has truly given me some valuable time to reflect on the state of play and, also take a critical look at what is, and isn’t working.

Having been self-employed for most of my working life it’s fair to say it’s taken me a while to succumb to the notion of being an employee.  However, there is now enough time since my big decision to step out of my business to clearly reflect on exactly where my business was at, and the truth of the situation.

It pains me to admit, in reflection I was actually flogging a proverbial dead horse.  Not only was the model only ever set up to create a job for one, I was turning myself inside out trying to build something bigger, better, brighter.  And if I could have just stopped to sniff the roses (I couldn’t stop, there was too much at stake, well, it felt like that anyway).

As they say hindsight is a marvellous thing.  With this in mind I encourage you to take a little time to do a quick business triage as you the following questions;

  1. Ask yourself, are you still really, really into what you are doing?  Does it still excite you or are you just going through the motions?
  2. Is the phone ringing or are you chasing all of the business yourself?
  3. Can you list at least three people who readily and happily promote your business?
  4. Do you ever lose sleep as you worry about the future?
  5. Is your product/service mix clear and easy to understand for your market?  Do you have the right mix on offer for the current marketplace?
  6. Are you running a business or is it just a job for you?
  7. What are your energy levels like?
  8. Can you see light at the end of the tunnel or do you feel like you’re on a hamster wheel every single day with no foreseeable end?
  9. How would you relate the quality of your three most important relationships outside of the workplace?
  10. Is your business still relevant in the marketplace?
  11. What is the state of your personal debt?  Do you feel compelled to continue in order to keep your living expenses afloat?
  12. What is it that you just don’t want to admit to yourself about your business right now?

Anything strike a chord?  It might be time to pause and assess your situation.

Do these realisations mean I’m going to curl up, label myself a failure never to explore business opportunities again?  No way.  I’m enjoying my current jaunt but must admit, there is nothing quite like doing my own thing.  Until next time.

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