The thrill of entrepreneurship is the rush of adrenaline, the sense of limitless possibility that drives you to turn your vision into a reality. Its an experience shared by all entrepreneurs at the start of a business venture. A thrill akin to winning that also drives the best and most successful sales people. But that is just the start of the process. Setting up and building the business draws on a range of skills which test and occasionally stifle some entrepreneurs.
For some, running the business can lead to losing sight of the reason they wanted to start in business in the first place. So how can you get your mojo back when you feel just getting through the day and keeping your financial head above water is the best you can hope for?
Why entrepreneurs lose their mojo
Everyone has strengths and weaknesses. The process of running a business may mean you’re required to apply yourself in areas that you may not enjoy or be particularly good at. For instance, addressing statutory and administrative requirements of setting up and running a business, managing staff and difficult customers.
Other common reasons include your product or service not generating the levels of profit first projected or the overheads spiralling out of control. Any of these reasons can leave you scratching your head. No matter how hard you work you can end up feeling burnt out, demotivated, or simply stuck.
Strategy 1
Reconnect with your motivation
Reconnecting with the reason you started your business in the first place is a simple strategy to rediscovering your mojo. When you’re feeling stuck or uninspired, it’s easy to lose sight of the bigger picture. But taking a step back to reflect on your original motivations can be a motivator in itself.
Consider the problem you were trying to solve. What impact did you want to make? What values did you want to uphold? Maybe take some time to head back to your business plan, you might see a where you lost your way.
By prioritising what matters most you might be able to trim or change some of the aspects of the way you run your business. Delegate tasks that would be better done by others. If you don’t have staff, outsource the work. That way you would be able to focus your time on those aspects of the business in which you excel.
Strategy 2
Take a break and recharge
Anyone who starts in business will tell you how exhausting it can be. If this is the problem it could be you are neglecting yourself and your family. Burnout, exhaustion, and a general feeling of being stuck can creep in. Making it impossible to muster the enthusiasm and energy needed to drive your business forward.
Taking the time to reassess is essential if you want to get back the spark that drove you to start your business in the first place. Without your support network, running your business will always be a chore. Take time with your friends and family to catch up. Take a holiday, even if it feels impossible to do so.
My father in law bought a timeshare that forced his wife, an engineering entrepreneur, to take a break every year. The dates of the holiday were fixed so there were no excuses to not plan for their time away. They both grew to love the destination and it came to represent a place of calm and relaxation and where business chat was banned. Whatever you decide to do, building in a regular time for you, your friends and family is a must.
Shorter and more regular activities might include going for a hike, taking a city break or setting aside a day every week just for you and your family no matter how much you need to do for the business. It may sound like an unrealistic headache but taking a break will clear you mind, allow you to refocus and come back to your business with a fresh perspective and renewed energy.
Strategy 3
Shake things up and innovate
If what you currently do feels routine and predictable. If business is stagnant and you feel that you are in a rut you might need to shake things up and innovate. Its what all good entrepreneurs do best.
Consider your product or service. Perhaps its time to modify it or introduce something new. Perhaps the marketing strategy needs some inspiration. Or perhaps there is an potential target market that could be exploited.
Think outside the box, challenge yourself, and reignite that passion and excitement that once drove you. Set new goals that align with your original motivations for starting the business. Taking measured risks and trying new things is important in business. The greatest innovations often come from stepping outside the norm and embracing uncertainty.
Strategy 4
Surround yourself with positivity and support
If you don’t believe you can make a success of your business, the job of achieving success will be much harder. If you surround yourself with positive and supportive people it can lift your mood when your confidence dips.
I’m not referring to ‘yes men’ or women but people who will keep you focused on the goal when doubt creeps in. The right people starts with family and friends. Making sure they are and remain on board with your business vision is crucial.
Taking time for family and friends and bringing them along on your business journey is the place to start. Outside of the family you need to ensure you find the right employees and freelancers with a positive attitude. You could also join business networking groups and go to exhibitions or conferences to meet others, find leads or inspiration for developing your business in the future.
If you don’t prioritise a positive and supportive environment you may end up feeling drained, demotivated and disconnected from the spark that motivated you to start a business in the first place.
And finally…
Every entrepreneur goes through periods of burnout, self-doubt, and stagnation. Whether its the weight of responsibility, the fear of failure or sense of isolation, it can all take a toll on your mental and emotional well being. Its easy to lose sight of why you started in the first place. If left unchecked your performance, productivity and development of your business will all suffer.
Take steps to address the specific set of circumstances that are affecting you and do what needs to be done to change those circumstances. The passion that led you to start your own business is still there, you just need to rediscover it.