Fall back in love with your business
The driving force behind happiness and success is passion, and “nothing great in the world has ever been accomplished without passion.” Georg Wilhelm Friedrich Hegel
All healthy relationships are, in one way or another, based on love and the course of true love never runs smoothly both in your private and work life. The truth is, personal relationships are a lot like business relationships, and maintaining both take thought, time and effort. As a small business owner there will be times when you have lost your mojo and fall out of love with your business.
It’s at this crossroads you need to take a step back and remember why you started your independent business. Recall the love and passion you had, the butterflies you got on your first sale, the excitement felt when creating your logo and the moment you reached your first major milestone.
Business starts with passion and you and your enterprise deserve to be celebrated, even if you have fallen temporarily out of love. Remind yourself it was your champions heart and your lions courage that took you from flirting with the idea to the reality of taking the plunge into the world of small business ownership.
Independent Shops, cafes, restaurants and bakeries are the beating heart of the High Street and at Expression Insurance we have been looking at ways to help you re-ignite the flame of creativity and enthusiasm for your business.
Reflect & Review
Reflecting on your relationship with your business is essential, give yourself time to,
1. Revisit your initial business plan,
2. Remind yourself of the good times, and the hard work you have put in
3. Relive your best moments and see the success achieved so far
4. Review specific targets or goals you have set yourself or would like to achieve. For example, increase customer reviews, launch a new menu or product offering. Ensure your goals are realistic, there is nothing less motivating than lofty targets you will fail to hit at the first hurdle
5. Road map timescales: when would you like targets/goals achieved and imagine what it will feel like when you hit them
6. Remind yourself of the benefits of being an owner of a high street business, of being your own boss and the boost you are bringing to your local economy and community
By taking a step back you can refocus, create a revised strategy and recharge your enthusiasm to continue to build a rewarding and fulfilling small businesses.
Learn from mistakes
Just like success, failure should also be viewed as a positive result, helping form your future decision-making process. Mistakes provide the opportunity to look back, accept and take responsibility for what went wrong, making them an essential part of running an independent business.
Every failure provides valuable feedback and they do not always have to be your own. Take time with fellow business owners to review mistakes they may have made. Sharing these insights with high street business friends will further strengthen the independent community.#sharethelove
Network, re-connect with your industry & find your tribe
Being an indie owner can be at times lonely, working long hours and at times in isolation. Look at ways to connect with not only customers but other entrepreneurs, study how they have overcome challenges faced in their businesses.
The digital age has opened new ways to connect with other champions of the indie community through social media, Zoom and Teams meetings, but also remember and embrace the tried and tested channels. Industry and professional conferences and trade shows, coupled with your local Chamber of Commerce or community groups are great ways to re-connect. Read more on how community-meet-ups-can-save-small-businesses from Holly Tucker MBE, of Holly & Co, a passionate supporter of small businesses.
A true business love story is when businesses come together and support one another. Speaking with likeminded, fellow creatives who appreciate and relate to your business fatigue is crucial. By mixing and mingling face to face and sharing both problems and solutions you will uncover new and exciting ideas, saving you time and money, and forge new friendships, reviving your determination to succeed.
“If you have a passion for what you do, there will always be a tribe of fellow small business owners waiting for you to connect with them” sethgodin.com
Explore new opportunities
Like in any relationship it’s important to ensure you keep things exciting and the same goes for your business . Looking at market & economic trends, changes within your industry and listening to customers are all great places to start when seeking ways of improving and growing. Make time to read and listen to what’s happening on High Streets around the country. There is nothing better than a fresh product or service to get your teeth into and remind yourself why you started your business in the first place.
Finding the balance
It’s not uncommon to neglect other relationships in your life especially the one with yourself. Finding the balance between your personal and professional life will allow the relationship you have with your business to feel less consuming and more relaxed and ensure you don’t end up falling out of love with what you enjoy.
Look after yourself. When was the last time you enjoyed quality time off? Your business is your responsibility, and a well-earned break could be the tonic to new inspiration, an energy boost and refocusing your mind, ensuring, as the owner, you are in the best shape to achieve your goals. And, when you have achieved a goal or target, no matter how small, take the time to reward yourself, a box of chocolates, a movie night or catch up with friends, whatever takes your fancy.
Show your business some love
Running a small business is a labour of love and independent business owners are famous for wearing many time stealing hats. Taking time to work ‘on’ your business, not just ‘in’ your business, showing it some love, will help reconnect and in doing so could also make cost savings.
Spruce up your shop, café, restaurant, or bakery, making sure it is spotlessly clean and welcoming both inside and out
Re-jig layout
Remove any used boxes or unnecessary equipment
These measures will showcase to customers and suppliers the love you have for your business.
At Expression Insurance we reward you when your customers love your business as we discount your price based on your great customer reviews, and who doesn’t love that!
Finance health check – finding the right balance
Finances can be a stumbling block in a relationship, even your business one, and too often discussed after something forces the issue. But it doesn’t have to be that way. Have a heart to heart with your accountant or financial advisor, find out exactly how financially fit you are and if needed, put a robust plan in place. Discuss your short and long-term goals and if you don’t have them set up make sure you are having a monthly “finance date” to continue informal discussions and help achieve financial goals.
To sum up running an independent high street business is a roller coaster of emotions, exhilarating yet exhausting and throw into the mix the additional stresses that Covid-19 had brought it’s no wonder indie owners can lose the loving feeling they once had for their shop, café, restaurant or bakery.
During these periods when you may feel overwhelmed remember to stop trying to do it all, take time to breathe, reflect, remember why you took the leap of faith and reclaim the passion you first had when launching the business that you love.
If you want to find out more about how Expression supports independent business owners who love their business visit or view a quote for your business visit www.expressioninsurance.co.uk