Your Business is Hurting...

Early 2019 I dealt with constant neck and upper back pain that was often accompanied by a headache. I went to the doctor and was sent to physical therapy even though my doctor could not identify the cause of the pain. I was also prescribed muscle relaxers which sent me straight to lala land making it impossible for me to get any work done. I ended up hiring extra hands to help me get things done. Then, I had an encounter when I attended the Warriors United Conference that relieved the pain completely. I can’t tell you how excited I was when I realized I could move my neck without feeling excruciating pain. Then, about a month ago, as suddenly as it came on earlier this year, I noticed the pain was creeping up again. I went back through everything in my mind. I spent time trying to locate the cause of the pain. What was I going through that resembled what I was going through earlier this year? I read through my journals and discovered a startling source. It wasn’t a physical health issue. It wasn’t familial stress. My business was hurting, and it was manifesting in my body. The additional hours I was working were taking a toll on my physical body. Once I solved the business pains (Just as I did earlier this year) the pain went away. After doing a little more digging I discovered three reasons your business may be hurting. So, before you run to the doctor, take a look at the list below and take to appropriate actions to relieve the pain in your business.

You Are Doing Too Much
There… that one will probably sting the most, so let’s just get it out of the way. You know you’re doing too much when you find yourself up at 3am for the 4th night in a row because your deadlines have copulated and produced baby deadlines that are screaming for your attention. Listen… I am all about working to achieve the success you desire, but sometimes we put ourselves in unhealthy positions which require more than we can physically handle. It can be so tempting to accept that client who is just slightly outside of your ideal range but wants to sign up immediately and pay your invoice in full. The extra cash will work wonders for your bottom line. However, you must ask yourself if that extra payday was worth losing sleep all month trying to keep up with the workload. Accepting too many ideal clients at once can also leave you feeling the pains of entrepreneurship. Remember, your business is intended to enhance your life, not consume it.
It’s Time to Hire a Staff
This is arguably one of the most difficult decisions a serious entrepreneur can make. Your business is booming and has finally reached the point that is requires additional hands. That’s a good thing, right? Well, yes and no. Needing additional hands and having the available cash flow to pay additional hands are two different things. Not only that, bringing on new faces means you should have well-defined job duties, training, systems, and procedures in place that give your new team members the best possible chance at success. Afterall, they will become representatives of your brand. Everything they touch needs to look and feel as though you provided the product or service yourself. Realizing I wasn’t Superwoman and needed additional hands nearly caused me to hyperventilate because I kept wondering when I was going to have time to create everything needed AND train a new person! At the end of the day, I had to throw on a pair of yoga pants, crank up the volume on my favorite playlist and GET ‘ER DONE! My business was hurting and the only thing that was going to ease the pain was qualified well-trained help!
You Need to Increase Your Prices
Oh, sweet baby Jesus, the dreaded price increase conversation…. That’s literally what I thought (and said) every time I heard a business coach discuss raising rates. It felt greedy to me. I felt like I could provide quality services to those who could not afford the high-priced rates of senior coaches. I sincerely desired to provide the highest level of publishing services to those who had paid thousands to crooked vanity publishing companies. In a nutshell, I wanted to be the affordable solution everyone needed. As you can imagine, this method of pricing caused me to lose money on nearly every contract during my first year of business. Not tangible dollars, but I loss by way of not accounting for the time I was spending executing each deal. That lost revenue contributed to the previous reason I felt pain in my business. It was growing, but it wasn’t generating the necessary revenue to sustain the growth because I was cheating myself out of money. The bottom line is if you don’t increase your prices there will be no bottom line because you will be out of business. (See what I did there.) Not only that, pricing yourself too low prevents you from attracting the right clients. Your ideal client has the disposable income to pay for your services. There’s a reason Saks Fifth Avenue doesn’t carry the same clothes as Wal-Mart or charge the same prices. They each have an ideal client and their offerings are in line with who they want to attract. If your business is cash poor but overflowing with clients who can’t afford your very necessary price increase, it’s time for you to stop the bleeding and raise your rates! Simply starting every new contract with a more appropriate rate structure will reduce the growing pains your business bank account is currently feeling.
Need help alleviating the pain?
Regardless of why you are experiencing the growth pains of business, remember this: leveraged properly, pain can lead you to changes that give birth to increased revenue, new programs, additional hands to handle the workload and more! The only cure to the pain is to stretch past your comfort level by making the necessary adjustments.
If you need help creating a strategy to alleviate the pains in your business, click to schedule a strategy session with me.







