The business environment is inherently cyclical. This means you will record excellent performance in some months and sluggish numbers in others. Think of the times when your conversion rate is at its highest and customers just cannot stop streaming in. This is when you sit in your office and check all the boxes from strategy to execution to the general business organisation.
During the low season, the opposite happens, and the performance indicators point the other way. Even clients who have been loyal to you for a long period may turn to your next-door competitor and buy from them.
One of the main factors that will decide whether you will push on with your business through the cycles is motivation. The growth of your business largely depends on how motivated you are as the owner. When rolling through the good times, no one struggles to remain motivated. In fact, you may find it difficult not to think about your business and the prospects ahead.
The greatest challenge comes when times are hard, and business is not forthcoming. Most businesses have failed to recover from harsh economic times while others have gone into receivership.
Company formations requires a lot from you and motivation is an integral part of that. It is given that you may not attain a 100% motivation always, but with the right strategies you can consistently stay motivated and achieve that explosive growth your industry peers are spending sleepless nights over.
Spend Time with Yourself
The hustle of starting and running a business can take a toll on you and absorb all your time. Every workday from the moment you set up a company, extends beyond the normal working hours as you chase down potential business and respond to queries throughout.
At this pace of life, it won’t be long before you feel that your business has eaten so much into your personal time and literally pushed you into a corner. The end result is bitterness and frustration instead of loving what you spend time creating. Constant motivation requires that you take breaks in between to refocus and strategise.
You may decide to go on a vacation or simply get off your business for a while. This will help you recharge and fuel that fire inside you so that you can come back stronger.
Leverage Social Connections
Being the vision bearer doesn’t mean that you should struggle to build your business alone. You need help and the best way is to bring on others in the form of employees, strategic partnerships, or even virtual assistants. If you have social groups and professional networks, you can tap on them as well.
Social connections and networks give you a platform to share experiences with like-minded people. Setting aside time to meet, connect, and mastermind with fellow entrepreneurs can benefit you greatly in your journey.
Identify What Inspires You
At times, inspiration needs to come in the form of a jab to lift your spirits and motivate you instantly. If you love reading, you could get a book or a few articles. Videos, podcasts, and other forms of virtual content can give you that inspiration when you need it the most. Since you can’t predict with certainty when you will be demotivated, have these sources within reach.
Keenly observe what other entrepreneurial giants are reading, watching, and doing for inspiration. You may be surprised that what you thought was a blanket of disappointments, is lifted by a simple article or video.
Build Your Business Around A Bigger Mission
Successful businesses are built on a mission and vision that are much bigger than all the departments combined. Your driving force to start a company should have a wider agenda and goals to help people and change certain things in the world.
Businesses built solely around money or the profit maximisation model end up struggling to define their value system and are often driven out of the market. Instead, your business should impact the lives of those it serves and create freedom and financial security for you.
When you are clear on your mission and the value system on which to anchor your business idea, tough times will come but you will stay motivated nevertheless. Changing a world that is so conformed requires entrepreneurs that are energic and full of motivation.
Celebrate Small Wins
Progress is one of the most extreme motivators. Looking at how far you have come could just be the fuel you need to boost you forward. In doing this, do not ignore the small wins. Every milestone that you achieve even if it is to register a company, deserves a toast even if with no one, but at least yourself.
Entrepreneurs who recognise the little advancements and baby steps they take, build a reservoir of motivation inside them. How you reward your small wins, is all up to you, but they must be meaningful enough to inspire you.
As Colin Powel said, there are no secrets to success. You simply must work hard, prepare adequately, and learn from every mistake you make.