Anyone starting a new business will understand the energy and drive you have at the beginning. It is normal for this passion to wane over time, especially with the current pressures like inflation, cash flow problems and uncertainty in the market. This pressure also filters down to their employees, who are also feeling the rise in fuel and energy prices. The question is, how do you reignite that fire?
Here are 10 ways to help you fall back in love with your business:
1 - Remember why you started
Within the long journey of entrepreneurship, it is vital to remember the reason you started. Whether you filled a gap in the market, strived for customer satisfaction, or wanted to make a positive effect on the environment, this could be the reminder you need to continue your growth.
2 - Look how far you have come
Do you remember the start of your business? Take a look back and think of the space you occupied, the number of staff surrounding you, the customer base and even monthly revenue. Look around now. Where are you based? How many employees do you have? Look how far you have come and how much you have achieved since the beginning of your business.
3 - Reconnect with the problem you are solving
When you start a business, it is essential to recognise the problem you set out to solve. As long as there are consumers with problems, there will always be solutions available. For example, SCAYL was launched when our sister company, BRUU, packed their teas by hand. However, due to the growth of the company, hand-packing was no longer viable. Many specialists in the machinery field offered expensive equipment, but there were no budget-friendly alternatives available and that's why Scayl was born. Scayl set out to allow businesses to scale up in a more affordable way, using filling and sealing machines.
4 - A smooth sea never created a skilled sailor
If the reason you are falling out of love with your business is due to the encountering of issues, then think back to the saying, “a smooth sea never created a skilled sailor”. Without ever encountering issues within your business, it does not give you an opportunity to learn from your mistakes and teach you essential skills to continue your entrepreneurial path. Treat every issue as a learning curve to expand your knowledge in the future.
5 - Remove the stressors
When coming into work are there certain areas which you don't enjoy? Do you hate the thought of hand packing your products? Then don't, find a solution. Take a Phil2500, for example, and reduce your packing times by up to 35%. Doing this it will drastically decrease stress and motivate you to expand your company.
6 - Set a new goal
Goals lead to motivation and that could be the key for you to fall back in love with your business. When setting goals, it triggers new behaviours in your brain and helps align your focus, whilst giving you new ideas and inspiration to work with. For many, this is the key to unlock that motivation and mindset that was slowly slipping away.
7 - Remember to have fun
Fun is crucial in any workplace, not only for yourself but also for your employees. At YOLO, Scayl’s parent company, we have weekly “boom times” in which any employee will set up a fun, 30-minute activity. This is beneficial for your employees and yourself, as it can lead to a renewed focus in the short-term, and an increase in employee retention in the long-term.
8 - Learn new things
Learning is viewed as a doorway to new opportunities and ideas. Allowing yourself to learn gives your business a chance to strive and expand. At YOLO we have a weekly creative hub, where we invite a special guest to share their specialist knowledge and expertise. Last week we had the marking director of Siemens, where we learnt the most effective ways to approach new leads.
9 - Try something new
It's easy to get stuck in your comfort zone, leaving yourself liable to losing the passion you once had for your company. Why don’t you create a new product, venture into a new market, refresh your website or take a new marketing angle. This should be enough to get you out of that dangerous loop.
10 - Look after yourself
When starting or running a business you must realise that you and your employees are the business. Looking after yourself can lead to an increase in productivity, improved creativity, and better mental health, all of which are key to the success and growth of your business. As the saying goes, “you can have a Ferrari but it won't move with the wrong fuel”.