The Franchise Informant | Navigating Difficult Times in Your Busi

Posts

The Franchise Informant

A resource for National Property Inspections and Global Property Inspections franchisees, aspiring entrepreneurs and real estate professionals.


sma
sma

    

Navigating Difficult Times in Your Business

NAVIGATING DIFFICULT TIMES IN YOUR BUSINESS
 December 8, 2020 |  Business Tips, Franchise |  business growth, motivation

By Adam Kiesel, NPI, Inc.'s Digital Marketing Specialist

Running a business isn’t always smooth sailing, and you’ll likely experience rough waters more than once. One day you’re moving along without a hitch, then the next, you’re facing snags and hiccups left and right. When you do run into a rough patch as a business owner, getting through it means keeping your priorities straight and your thinking positive.

Attitude is Everything
It’s easy to have a negative outlook when things aren’t going how you’d like. Yet pessimism has a tendency to snowball until everything seems much worse than it actually is. Developing and maintaining a positive attitude goes a long way in helping yourself through struggles. There’s an assortment of ways to stay positive, and doing so will make your hardships feel much more manageable.

Reach Out to Others
It’s very likely that you aren’t the first person to go through your situation. While each experience will be unique, there will likely be multiple similarities between what you’re facing and what someone else may have already put past them. If you do know of a person that’s been in your shoes, don’t hesitate to reach out! They’ll be able to provide you with invaluable knowledge about the next moves you might make. Plus, having a network of peers and other small business owners you can rely on is a great reminder that you’re not alone.

Find Ways to Stay Busy
Keeping yourself busy even when it might be hard to find things to do helps preoccupy your mind. Talking to clients, reviewing your marketing and getting your office in order are all great ways to keep you focused on your business. While having an unexpected slow period isn’t always the best, you can still use it to improve yourself and your business.

Document Your Processes
A pen and notepad or a Word document can be valuable tools. Keeping a record of processes and organizing priorities can help you more easily identify challenges and allow you to better plan for the future. Plus, having past entries to return to will help you hone your management skills and workflow when you find yourself facing tough times down the road.

Straighten Out Your Finances
Accounting for every dollar you spend becomes more crucial when your cashflow is slowing down. Take a look at what you could cut back on while still operating your business effectively. You might even be surprised to see where your money has been going. If you can, start an emergency fund to stabilize yourself for the present and the future.

Meet More
If you’re in charge of a team, schedule regular meetings to provide ample opportunity to brainstorm ideas and gauge their feelings. Making sure that everyone’s concerns are heard relieves some of the stress and worries your employees may have, and it shows that you value their contributions.

Learn from the Situation
Above all, learn from the position you’re in and work toward becoming an even more well-rounded entrepreneur. You will get through this season, and someday, you’ll even be able to pay it forward by sharing our experience with new business owners.

Interested in owning a franchise of your own? Visit npifranchise.com or call 1-800-333-9807, ex. 24 for more information.

About the Author
Adam Kiesel, Digital Marketing Assistant
Adam's responsibilities on the NPI, Inc. Marketing Team include content creation for our websites, blogs and social media accounts. He also works on informational items to be sent to current and prospective franchisees. Adam joined the staff at NPI in 2020.


Comments are closed.

 

 

Find an Inspector
Commercial Services

Find us on social media!

 

FEATURED


The Pros and Cons of Paid Search The Pros and Cons of Paid Search Read We’ll break down the pros and cons of starting a campaign with Google Ads and help you decide if paid search is right for you.
 Marketing, Social Media
How to Ethically Refer Repairs How to Ethically
Refer Repairs
Read
In order to stay competitive, home inspectors have to look at new ways of referring repairs for their clients while avoiding potential ethical pitfalls.
 Inspection Tips
How to Make Time for Social Media How to Make Time for Social Media Read As a small business owner, it's hard to find the time to keep up with your digital presence. We'll tell you where to start.
 Marketing, Social Media