Have you recently come across a business where you were left thinking ‘they’ve lost their mojo’? Considering we are 18 months into this pandemic, there’s plenty of businesses in this position right now. While it’s not a great look from the outside, it probably feels even worse from within.
Small to medium-sized businesses cannot help but take on the traits of the people behind the business. So a business that’s been hit particularly hard by lockdowns and restrictions or run by people that lack the passion, the energy and the drive, will always struggle to achieve its vision. To lean on the Jim Collins analogy, “it would be like driving a bus, forever looking in the rear view mirror to see your team hanging out the windows”.
Here’s my tips to help business owners who have lost or are losing their mojo:
1. reflect on why you started in business
Dig up your old notes, sketches, business plans and sources of inspiration for going into business in the first place. Maybe you can reignite the spark in your business or realise that you have gone off track from the original plan. Have you done something differently to how you originally planned? Maybe you were trying to save money or cut corners to speed up implementation. Reflecting on your original plans and realigning your strategy may be just what the doctor ordered.
2. acknowledge it and talk about it
Have an outsider give you their view or just start sharing your challenges with a respected friend, colleague or mentor. Your team will also have some comments and you should welcome their input [a staff workshop could help]. Don’t assume, get the facts. Your loved ones need to be behind any change process too so don’t hide it from them.
3. don’t wait too long…
To acknowledge. To talk about it. To make a change. Leaving it too long just makes it harder to get back from the low point.
4. do something positive
Turn your back on the negativities within your business and do something positive. Organise a staff or client event online, or if restrictions allow, arrange a meet up in person. It’s amazing how when you turn your focus on more positive things, you subconsciously become more positive, shift your focus, create opportunities for more feedback and more easily uncover the root cause of your problems.
5. take a break
You shouldn’t make big decision quickly. If you think you just want out, take some time out [even if you can’t physically get away, turn off your devices and have a staycation to recharge] and see how you feel when you get back. Often the business model is already good – there is just a hurdle stopping you from reaching your potential. It’s hard to see these barriers to success when you are working in the business and dealing with day-to-day dramas.
Whether you want to bring back the mojo or make plans for an exit, we can help guide you in the right direction. Feel free to reach out to us!