As part of a new client conversation last week, my client asked, “How do I know if it’s time to move on from this business?”
My first comment was “If you have to ask…” and then we discussed the following, which were applicable to her and what to do as a result:
- You misjudged the market you’re targeting. Does the market you’re speaking to value what you have to offer enough that they’re ready, willing and able to pay for it? Or do you need to consider another market?
- Is the business financially viable? Can you make enough money doing what you do in the way you do it or does something need to change?
- There’s too much competition from others doing what you do the way you do it for a comparable price. What can you change/tweak/blow up to stand out in the eyes and mind of your target audience?
- The passion is gone. Rather than feel fueled by your business, it drains you. It’s natural to have occasional dips, but overall you should love what you do or find something else.
If all four describe your business, it doesn’t mean it’s time to shut the doors; it may simply be time for a refresh and reboot with an objective viewpoint from someone who’s been where you are.
If you’d like personalized support around doing, please email me here. We have 3 spots remaining for private support and I’d love to see if we’re a good fit.
In full and unwavering support of you and your business,