The Livelihood Podcast

EP#37 - What to do if your Business is in a Slump - How to Cross The Chasm of Stress, Uncertainty and Stagnation


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If you are a small business owner you have probably felt the feelings of being stuck in a rut or that your business is stagnating. It often creates an overwhelming stress in your life that can have a negative impact on your own mental health and relationships with those around you.
 
So, How do you deal with a bad spells in business? In this episode we try and tackle the problem head on, using our own experience and a real world example of exercises we completed to try and get the podcast out of a stagnation period.

We go over these 9 tips for getting your business back on track -

  1. Start with you, do an audit on life and health, including mental health. Running/meditation helps clear the mind.
  2. Be very analytical of your original objectives.
  3. Be smart about it. 
  4. Celebrate your wins - try to remember your original goals and calibrate your perspective.
  5. Don’t make things worse by doing nothing. 
  6. Create a list of actionable steps that are measurable
  7. Write about it and talk through the problems and be very analytical of the current situation
  8. Time to try harder or give up - sometimes things aren’t worth the effort.
  9. Attempt a root cause analysis of the problems.
...more
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The Livelihood PodcastBy Entrepreneur Luke Emery & Product Designer Alex Peet