Low Owner Energy, Low Company Performance
You didn’t start your business with the intention to become lethargic and unenthusiastic, and there’s no reason to end on that note either.
Once your energy starts to falter, the effect will take hold on the rest of your business. Then, the negative results lower your energy even further, causing a disastrous snowball effect that makes your business unattractive to buyers.
The High Cost of Low Energy
Low energy is a catalyst for weaknesses in your business. As your energy starts to slip, a number of problems plague your business. Failing to fix your lagging energy can lead to several destructive behaviors, like:
- Not listening to your Customers
When you first started your business, your instinct was to value customers. After all, having customers meant your company was growing and your efforts were paying off. But after a while, it’s easy to start taking clients for granted. It’s important to realize that your business wouldn’t exist without your customers and you need to listen to them in order to be successful.
- Valuing Efficiency and Risk Avoidance at the cost of Innovation
When your company was young, you probably chose employees who had passion, creativity, and drive. As time goes on, it’s easy to forget about those qualities and choose hires who are merely competent in the industry. It becomes habit to reward the efficiency that comes from routine, but doing this stifles the creativity that leads to extraordinary service and growth.
- Biting Off More Than You Can Chew
When you own a small business, along with your many other duties, you are in charge of growing your company. In addition to your daily operational responsibilities, you are responsible for generating new business. Keep in mind that doing too many tasks will burn you out quickly. Be honest with yourself—should you hire someone so you can focus on growing your business? Since this should ultimately generate more business, a good employee hire will more than pay for itself.
- Not Thinking Profitably
Over time, it’s easy to start feeling defeated. Focus on building a profitable business and use your financial performance as your report card. No one should know the finances about your company better than you do. Use the numbers to guide choices.
A Final Burst of Energy to Wind Things Down
Selling your business can be draining, but low energy can kill your chance at achieving maximum value. It is time to gear up for the final push.
If you need help selling your business, do not hesitate to call The Bridlebrook Group. Our services begin with a no obligation, free value analysis.