How Successful Business Owners Overcome Plateau
I don’t know about you but I started my business to have a better work-life balance, do the work that I love, and control of my own destiny. To do what I want, when I want, with who I want.
Starting a business is not a walk in the park and as you grow you’ll experience more challenges. Eventually things will change, markets will change, and competition will change. Business growth is not always an upward trend. You will likely sometimes see a flat graph. That’s when you hit a plateau.
Whilst frustrating, overcoming business plateaus prompt you to reevaluate and review your business plan to see for new opportunities for change and growth. Below are the ways successful business owners overcome plateau.
They embrace change
You might have found a great new lead generation strategy using Facebook that works great for your business and you are smashing it but then in six or 12 months time, Facebook changes the algorithm and your leads dry up, you hit a plateau.
Instead of wasting your time, energy and money on trying to make Facebook still work for you look at new lead generation ideas. Look at your competition and anaylse where are they getting clients. Ask yourself ‘would that work for my business?’ and ‘how can I differentiate myself from the competition.’
Whilst breaking through a plateau is never easy you must ensure you don’t accept failure. Strive towards success.
They see failure as a learning opportunity
When things don’t go your way or to plan it is easy to see it all as a failed plan that didn’t meet expectations.
Instead of having this mindset, successful business owners see failure as a learning opportunity. Even if you feel like you are constantly failing you have to stick with it and find out what works for you.
They explore new ventures
Often people hit a plateau and just accept where they’re at. When you do that you stop progressing forward. Eventually your business will start declining if you have the habit of being comfortable instead of uncomfortable.
Successful business owners push themselves outside their comfort zone. The explore uncharted waters and new ventures that may be difficult. They don’t do it because it is fun and they like doing it. They do it break through plateau and remain successful.
They have the routine of a winner
What does a successful person do? If required of them, they do the early mornings and late nights. They put the work in and have the determination, commitment, courage, and consistency needed to find the next successful lead generator. When your business is successful and running well, as a director, you should be able to switch off and relax. However, if your business is in turmoil you need to be involved and guiding your team.
They add value
Think about what you could do. What is one new thing you could do to attract or improve conversion, or both, of your ideal clients? What’s one new thing that will make your team stay for longer and be happier? What’s one new thing that you could do to wow your clients over the next 90 days?
Overall, business owners should be actively involved with the financial figures each month so they can identify plateau quickly. You might want to also do budgeting and forecasting. Then an action plan can be put in place and the entire organisation made aware of changes they need to part of too. Plateau doesn’t have to mean the end but it does mean you have to be more involved until you are over the hill.
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