Every organization follows a variable and sometimes predictable lifecycle. It is common for companies to struggle in the beginning, hit their stride (or collapse) and then slowly fade into corporate history books over time.
But as a business owner, you have some control over the ups and downs that are to be expected along the way. When you are faced with a tough season and suffer a setback, the choice is yours if you want to jump back up and face the issues or to close your doors and move on to another project.
If you are like most business owners, you probably have a lot invested in your organization. So, the real question is how do you bounce back after suffering a setback?
You will find lots of practical ideas and strategies on the internet and in business books. However, the biggest priority for you as a leader should be to grow your people.
Focus On Developing Your People
The health of your business will always be restricted by the capacity of your teams and the people who work with you. As a leader, your responsibility is to empower them to do their work better.
It takes a wise leader to demonstrate the fundamental requirement of leadership…
A leader does not create followers. A leader raises other leaders.
What steps are you taking to ensure the development of your people? Any business setback you face will be a challenge you can overcome with the right people around you.
If you do run a business as a solo-entrepreneur, apply these principles to the freelancers and contract-consultants who help you achieve your business goals.
Start investing in and building your employees. It’s the best way to ensure that every comeback you make from a setback will be successful.
Sheevaun Moran is a business advisor, master coach, quantum energy thought leader and the founder of Energetic Solutions. She uses business principles with energetic techniques to help more than 25,000 entrepreneurs, CEOs and leaders bring instant focus and shifts to clarity, purpose, and profits.
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