It is undoubtably a stop in every entrepreneurs’ journey. You have built a business from concept to reality, yo
u’re the happiest and most excited you’ve ever been, and then—out of nowhere—an unwelcomed and unexpected complication throws a wrench in your business growth plans.
No matter the stage you are in on your business journey, that financial hiccup, undesirable turn of events, or key player leaving your organization, can force you from a point of total elation to complete panic nearly overnight.
I like to call this feeling “trapped.” It’s the infamous stage of feeling overwhelmed with business, financial, and/or family pressures and responsibilities you’ve never experienced before. And as a result, this obstacle causes high levels of stress, contributes to poor health, and places significant strains on your relationships. There’s no doubt it’s an uncomfortable and difficult place to be.
However, you can get through this.
Here’s how to navigate your way back to the surface:
Revisit your business plan
To force your way through this phase, revisit the plans and decisions you made when you first started your business.
Review your marketing plan, revisit your core values, and take solace in the strengths of decisions your business was built on. When your foundation is strong, you will gain the confidence to push through the rough and stressful times.
Understand and accept the risks
This includes financial, personnel and business risks. Consider consulting a professional to make sure you are making the “right” financial decisions and investments from an accounting perspective.
Consult with and trust your advisors
Meet with a lawyer or business-consulting firm (like Gerber) that understands high-growth businesses. They can advise you on how to structure your business and people to maximize your profits and growth, while (hopefully!) minimizing the stress.
Take care of yourself
If the majority of your ‘trapped’ feeling comes from stress, you also may want to consult with a business coach or therapist. Those professionals can help you manage your many priorities, so you don’t end up at the bottom of your own priority list—or worse—not on the list at all!
It’s important you take care of yourself, and that includes regularly exercising. Don’t believe me? Self-Care Results in Taking Better Care of Your Business. Here’s how.
Feeling trapped is a FGEs rite of passage. It’s part of the deal when it comes to building a business, and as stressful and impossible as it may seem, strategy and proper planning will get you through it.
Entrepreneurship requires the personal fortitude to survive and conquer the misgivings. When you do so, you’ll come out stronger, more experienced, and better equipped to handle the next challenge that comes your way.
How have you survived feeling trapped? Share with us on LinkedIn, Twitter and Facebook!