POSTED BY MANAGER
ON 11 DECEMBER 2015
This article is aimed at existing entrepreneurs battling a crisis who wish to come out stronger on the other side.
September 15
By Ajmal Tincowree, Agency Manager (Shamal Travels Ltd) & Business Development Manager (Shamal Group)
When you are an entrepreneur, one certainty is that nothing is definite. Entrepreneurship comes with many perks. The comfort of having your own working hours and not being tormented by office politics are certainly very attractive ones. However there are several phases that no one can prepare you for. The odds of a startup succeeding and maintaining its success is very little.
Being successful as an entrepreneur will require you to get through every adversity and all the challenges thrown at you. I will share with you 5 ways to be more prepared when times get tough.
1 Miracles do not happen
Often in our Mauritian business arena we hear stories of overnight fortunes and things miraculously getting done with the help of a mysterious power. Know that this will not happen to you and be prepared to roll up sleeves and start paddling. You will have to work your way out and be ready to give it all you have, your energy, your time and your money. There will be sleepless nights and lot of sacrifices to be made. If you are not up for it then you might not be an entrepreneur after all.
2 Focus on the next step
In the special forces they teach you that the human body can take almost anything, it is the mind that needs training. In tough battle situations it is never the end game that matters, it is taking the next step and then the next until you reach safety. Same applies to your business when things get tough, forget long term strategy start thinking about taking the next step and the next after that until you start getting the results you want.
3 Put your faith in your people
“if you lay down with dogs you get up with fleas.” So be ready to start eliminating all the dogs from your business. Keep the ones who are here to fight alongside you and focus all your attention on them. Do not let the negative energy descend on your team, this will affect your customer service and make the situation worse. Seek out your loyal customers and ask them for support, you will surprised how far ahead this can take you.
4 Deal with the facts and don’t make it worse
In the middle of a business crisis it is very easy to get dragged into stories of what “could have” been and start assigning blame. It is imperative to gather facts on what is happening and act on the situation. The crisis hits you, you get frozen in the moment, “panicked”. Remember that whilst you are whining and complaining on the fact that you don’t deserve your troubles, things are crawling further to disaster. So ignore your feelings, drop your ego and focus on what needs to be done.
5 Find a mentor and spend time with people who have been through the same
There are thousands if not millions of people who have endured adversity and crisis in business. Seek a mentor, probably another entrepreneur who has your best interest at heart. Spend more time with people you know who have been through crisis in business and made it through. They cannot be expected to take your burden, but having them to talk to and listening to their stories could just be invaluable for you.
Hang on until daylight
One certainty about tough times in business is that it always passes. No matter how dark the night might seem, daylight will certainly be there. At the end of the day the lesson remains the same in all challenges of your business and your life persevere and do not give up.