One entrepreneur told me he felt he was running in place. “Stuck” is how he summed it up. He was frustrated that all his busyness wasn’t leading to more revenue. For him, stating “we’re stuck” was a statement of fact that opened his company up to new opportunities. It was not a judgement.
Another owner told me her company revenue was flat—i.e., “stuck”– but then backed away from that and pushed me away. For her, being stuck felt like an admission of years of bad decisions. It was a harsh and uncomfortable judgement and she closed herself off to new opportunities.
The juxtaposition of these two owners led me to reflect on how being stuck opens the doors to many new options. After you read this list, let me know if you have other ideas, or which ones have or might work for you.
Once you realize you’re stuck you have the opportunity to:
- Make time to look at every aspect of your company. You make this time because it feels like the best use of your time, not a waste of time.
- Look at every line of your financials and ask “where are our strengths and where are our weaknesses?”
- Free valuable resources for your strengths and for new options by reducing or eliminating the areas of weakness.
- Look at every product and service and ask “are we offering the highest possible value given our investment in this product or service?”
- Reduce or eliminate the products or services that generate too little profit.
- Reduce or eliminate products or services that are outdated or soon to be outdated.
- Reduce or eliminate products or services that serve customers you’d rather not serve.
- Look at all the resources you’ve freed up and ask “what can we do that would be a much better use of these resources?”
- Look at your sales processes, policies and practices and test them against your revenue and profit goals. Which are hindering, which are helping, which could advance the company even more?
- Look at your employees and ask “how well are they being deployed to advance your revenue and profit goals?”
- Look at the strengths of your employees and ensure that you give them the opportunity to use their strengths to the highest good.
- Scrutinize every word about your company that goes out to your customers and clients, and to prospects and beyond. When you start looking at new opportunities to get unstuck, your language can do a whole lot to advance the company to its goals.
- Scour your online presence and invest to make all of it reflect your new opportunities; get rid of anything that was part of what was making you feel stuck.
- Dive deeply into your records of customers and clients. Do a GO Curve Analysis, which segments them into three types of buyers and aligns them with three categories of offerings.
- Use the GO Curve Blueprint (access here) to plan which buyers you’re going to move up the GO Curve. This will increase your revenue and profit, and will spur you to create new offerings at the higher end of the Go Curve.
- Commit to moving on from customers and clients that have contributed to your feeling of being stuck. You can be nice about it, but don’t hesitate.
What else would you do if you decided to embrace being stuck as the path to new revenue and profit?
Email me with your ideas and I’ll respond. Or if you see this article on social media, post your thoughts as a comment.
Let me know what you’re going to do to get unstuck. 703-790-1424.