Are you feeling like you’re in a rut with your business? Are you not growing as fast as you’d like, not being as profitable as you want, or just not feeling as excited about your business as you used to? Maybe you need to make a change.
After all, it’s been said that the definition of insanity is trying the same thing over and over again and expecting a different result. It’s hard to grow unless you’re willing to make some changes and re-think your assumptions about how you operate your business.
At my company, we recently made some big changes in how we operate our business. We originally were trying to compete as a cost-competitive option, with the goal of becoming more profitable over time as we gained sales volume.
Unfortunately, the reality was that we were losing money hand over fist on every order we received.
We realized that we can’t compete on price, we don’t want to compete on price, and fortunately, we don’t have to. As you can read in this very honest, heartfelt and (hopefully) entertaining blog article written by my husband Phil, we’re going to do things differently by raising our prices.
Once we pinpointed what we needed to change and tried something new to actually implement change, we saw nothing but success with an increase in sales.
Every business owner needs a push to try something new. Here are a few tips I learned from our experience with change that may help you take the plunge:
Listen to your heart: Business is about profit, but more fundamentally it’s about passion. If you’re feeling stressed, anxious, worried or bored about your business, then chances are you need to make some immediate changes.
What you’re doing now isn’t working right for you – and you can often “feel” this to be true even before you “know” it to be true.Don’t try to imitate others: Every business is unique.
What works for one business might not work for you. The best part of being an entrepreneur is being able to succeed on your own terms. Don’t measure yourself by other people’s standards. Even if other companies seem to be successful by offering low prices or different standards than you would prefer, just ignore them. Find a way to make your own vision succeed, on your own terms.
Go back to the core of what your business is about: In trying to do “something new,” you might surprisingly find that you’re going “back to basics.” For example, by raising our prices, we are recognizing that we want our business to be about service and providing a high degree of support to our customers. We don’t want to run a high-volume, low-contact commodity business – instead, we love the relationship building aspects of running a service-oriented business. We discovered that we needed to raise our prices to reflect that, and to make it possible to deliver this level of service.
Being an entrepreneur is the best job in the world because it gives you the constant freedom to choose your path, to control your destiny, and to make changes along the way. What would you change about your business? Are you ready to start doing things differently?