A new year means new direction, right? Maybe, maybe not. I find it interesting when I am talking to people and coaching clients that they often want to give up on their current revenue streams. I think having a creative mind means many ideas are generated. Change can seem more interesting than the status quo but do you need to change things in your business or focus on what is currently working? This may call for some evaluation!
I complied a list to help you decide on when to change the course of your current business
1) You have been in a holding pattern for at least 3 years with no revenue growth. Notice I am talking about monetary income growth, not Twitter growth or Facebook likes. It is important to separate what you are evaluating. We seemed to be getting this confused as of late, popularity and earning income are 2 different things.
2) Your industry is changing dramatically. It is good to be honest when understanding the actual field your money is coming from, (scrap booking anyone?) If you are on a slow or even fast melting iceberg, this is a good time to ADD a new revenue stream.
3) You resent what you are doing. Resent might be a strong word, let’s say there is an underlying frustration or even apathy going on. This is tricky because might need a pep talk about gratitude or it might be a sign that you need to breathe new life into your small business. Erik Wahl says,
“If you are listless, you may be playing it too safe.”
It is good to dig a little deeper to find out if you are restless, have displaced passion or maybe you need some tweaking to your current monetary avenue. By that I mean, does your business need a good marketing and branding kick in the #$%!? If you think you need to give your business a shot in the arm, Smart Creative Style is coming soon! Registration opens this month and will be a very pleasant and fun kick, I promise! I added some quick FAQ’s on this page about the course!
Knowing when to stay the course and when to change the course of your business is something you have to decide, trusting your gut and instincts is something you can learn if you are not already doing it.
How does your business fall out under this list? When I applied it to myself, I was sort of surprised. More on my discoveries later this week!