What To Do When You Feel Stuck In Business?
I was in the office. My company’s financial statements were all showing, losses. I was frustrated and angry.
I was stressed out. I was flipping pages, after pages. Nothing was going well. I didn’t know about my next move.
I just took my bag; I headed for a nearby café. My laptop had to post it on the main screen. So I began, typing, and made a road map which was as follows:
I used to spend more time with my husband George. We use to go out for dinner. We used to heavily on buying and exchanging gifts. I remember, he gave me the best romance novels on Valentine’s Day last year.
I got involved in my relationship with George. I was going late, and return early. My perception was that my team will run my company well, but it was not the case.
I consulted my mentors; they also told me to pay attention, to my company in the initial months.
George and I worked on it; we came up with some timeline. I decided to limit my social activities. I replaced it with networking. It was a little difficult, and but later on, it paid off.
My company got more clients, from it. I was able to connect with my ex-colleagues. It also builds my confidence as well.
2.Analysis of Products
I went through all my products, which were on the company’s online store. Most of it was not up to the mark. Many customers didn’t like the products, they had complained, and written bad reviews.
Some even complained about the delivery service. My team also didn’t handle them well. It was clear, from some of the refunds.
I called the meeting, of the sales and marketing department. I noted the main points. We all sat in the meeting room.
My team prepared a detailed report, for the last 6 months. I went through it, in detail. We all discussed coming up with new products, its promotions, and improving its delivery process.
I also told them to; prepare a monthly report on it. Within months, the loss was recovered. I was happy to see, and I gave a bonus to all of them.
I had a meeting with my company’s HR team. We reviewed all the people, working for my company. Some of them were coming late. Another performance was not up to the mark. We decided, to come up with a plan, about giving warnings on an incremental basis.
If some of my teammates didn’t do well. We decided to terminate them. I know it was a hard thing to do. But the current financial conditions were not making it feasible, to go on like this for long. It was a hard decision to make.
The HR team, took approvals, from me, some of the staff was laid off within 3 months. They gave ads on our company’s LinkedIn page, interviews were conducted on Zoom. Some freelancers were hired.
They showed commitment and did well. It is reflected in their reports. I congratulated my team on it.
4.Giving more time
I spend more time, in my company, to such an extent that I was the last one, who came out of the office. I also evaluated myself as well.
My involvement was less; it was reflected in the delayed approvals, from my side. I reorganized my day-to-day activates.
I dived into all the major meetings. It was a wake call for me. My all teammates also become motivated and worked with more passion and commitment.
This was a great step; I took i.e. becoming more responsible and responsive.
I was a party girl. My focus changed gradually. I worked on this habit, and gradually changed by going through top books for starting a business. It made me learn about the mistakes, done by people like me.
It also gave me hope and patience; it also changed my way of thinking. I became more rational and forward and tried a new way of looking at my company.
I made notes, went on a more realistic approach, in my life and my company. Now, I saw, everything was becoming more systematic.
I figured out, that my body weight was increasing. My energy levels were low. I took time, signed up for a gym membership.
I also changed my diet as well. My meals, had salads, juices, and some dry fruits. I cut down gradually on junk and processed food. I also joined meditation classes.
My mood becomes more positive. I was able to relax and had quality sleep as well.
With all these changes, my company and I both were reaching new heights. Many customers repeated their orders. My team was more motivated. We had more productive discussions, and we did well on all key indicators, like income statements, cash flows, etc.