When You Make Fear-Based Decisions It’s Actually Bad For Business.
It happens to everyone. At some point, as a business owner, you’ll find yourself in a troubling situation. Money’s not coming in as it has been, new clients seem to have gone into hiding and your profits are in the toilet.
You pull out your financial sheet and you immediately feel your anxiety start to head towards a full-fledged attack. Not a good thing at all!
If you’re not Mark Zuckerberg or Bill Gates, chances are you’ve run across this sinking feeling of your business tending down.
The truth is, how you handle the downtrend in your business will make the difference between continuing success or business-smashing burnout.
This is where a lot of service businesses stumble and fall and have a hard time pulling themselves up again. They start to play ‘the worry game.’ They worry about money, which has a snowball effect, it leads to making poor decisions and those poor decisions have a huge negative impact not only on finances but … on their morale, too!
I bet you know what I’m talking about, either because you’ve seen it happen to someone else or ‘GULP!’ … to yourself!
You Take On The Wrong Client or The Warm Body Syndrome
It’s exceptional tough to keep in mind your ideal client avatar when your business seems to be going downhill. No clients, no money, no profit.
You get hungry to fill those empty slots so you jump at the chance to work … with anyone who shows up. You are now facing a new type of challenging situation — you have a roster packed with clients who:
- Aren’t willing or able to do the work required.
- Spend all their time telling you why your ideas and advice won’t work.
- Drain your energy and make you dread your time with them.
- Lack motivation to change.
- Are set in a ‘victim’ mode.
You Get Creation Blockage or You Plain Stop Creating
No one is blaming you, it’s totally natural when profits are down, to get in a funk and pull back. Money’s tight, you can’t afford to spend time and money on creating new programs so instead you recycle ones you’ve already done.
This would be absolutely ideal if you were repurposing with positive intentions, such as taking your ebook and turning it into a group coaching course. Now that would be fantastic! But it’s not what your chitty-chatty fearful brain is saying you should do.
“It’s not stress that kills us, it is our reaction to it.” — Hans Selye Click to Tweet
Your fear is roaring up and saying: ‘Go ahead and re-release that same old product again, maybe do some minor tweaks so it ‘looks different but at least I won’t have to have new sales copy written or record a new video.’
Yes, it just might fit the bill as a short term solution and bring in some cash right now, but it won’t do anything to strengthen your reputation or even more important, your self-esteem.
I know you ‘get it’ .. that this is absolutely no way to run a business. But it’s how your fear-based mindset will react when times get scary!
The truth is to keep the momentum going in the right direction, you need to always hold out for your ideal and perfect client. To know they will show up.
Make use of your downtime, take what you are learning and create a killer new program, build a new course or freebie, increase your SM presences by building relationships.
When you are pro-active versus reactive.. life always changes for the good!
“You have to think a little smarter, be proactive, not reactive.” — Frank Abagnale Click to Tweet