Saturday, August 12, 2006
Avoiding Desperation Mode
Desperation mode can put the final nail in the coffin of a struggling business. It's that time when you realize you're at the end of the line, that if you don't turn things around RIGHT NOW, you're toast.
Maybe it's a self-imposed deadline you've set for yourself. Hopefully it's not that most dreaded of situations, one where you suddenly realize that you won't be able to pay your next bills unless your business jumps up in income overnight.
We like to think that desperation mode will inspire us to succeed. We like to think that when our backs are against the wall, we'll somehow find it in us to come through.
But that almost never works.
Why? Because successful businesses focus on what their customers need. Desperate businesses couldn't see a customer need if it bit them on the nose.
When you're desperate, your attention focuses squarely on that great big disaster breathing down your neck. Hey, it's kind of hard to throw your customers a lifesaver when you yourself are drowning.
You end up basing everything on a single roll of the dice. And usually, those kind of risks have a low chance of succeeding.
So what can we do if we hit desperation time? Take the pressure off yourself. No one says your business has to support you right now. If you need to pick up a second job to make ends meet, do it. Ensure yourself some financial stability.
Then go back and reassess your business from the perspective of your customers' needs. Look for how you can best serve them. Restructure your business accordingly.
It's a paradox. Your business grows best when your desperation to have it grow is least.
Jeff
Desperation mode can put the final nail in the coffin of a struggling business. It's that time when you realize you're at the end of the line, that if you don't turn things around RIGHT NOW, you're toast.
Maybe it's a self-imposed deadline you've set for yourself. Hopefully it's not that most dreaded of situations, one where you suddenly realize that you won't be able to pay your next bills unless your business jumps up in income overnight.
We like to think that desperation mode will inspire us to succeed. We like to think that when our backs are against the wall, we'll somehow find it in us to come through.
But that almost never works.
Why? Because successful businesses focus on what their customers need. Desperate businesses couldn't see a customer need if it bit them on the nose.
When you're desperate, your attention focuses squarely on that great big disaster breathing down your neck. Hey, it's kind of hard to throw your customers a lifesaver when you yourself are drowning.
You end up basing everything on a single roll of the dice. And usually, those kind of risks have a low chance of succeeding.
So what can we do if we hit desperation time? Take the pressure off yourself. No one says your business has to support you right now. If you need to pick up a second job to make ends meet, do it. Ensure yourself some financial stability.
Then go back and reassess your business from the perspective of your customers' needs. Look for how you can best serve them. Restructure your business accordingly.
It's a paradox. Your business grows best when your desperation to have it grow is least.
Jeff
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