Bee Sure Financial

Anyone who has started a small business will understand that one of the primary keys to success is momentum. The pieces stack on top of each other and inspire energy that propels you toward further success. For the average small business owner in 2021, however, maintaining this momentum has become challenging.

Mark, a Graphic Designer from Melbourne, Australia, describes the impact on his business from multiple lockdowns.

“Our lockdowns here are intermittent, so we seem to get about four weeks of momentum followed by two weeks of lockdown. Every time we go back to work, it’s almost like starting your business again from scratch. You have to rebuild relationships, and you have to rebuild your energy. It has been the most challenging time in my career.”

It could be difficult for someone without experience running a small business to understand these things. During this pandemic one’s business routine can become quite random. Clients become more reluctant to book due to the uncertainty. More existential matters push to the forefront of one’s mind. Mental health has become more significant in our society than ever before.

As Mark says, “Business is ultimately about human connections, so the damage to business also has an impact on your mind.”

So, how does a small business owner survive these turbulent times?

As well as running his own business, Mark runs a local network for small businesses in Melbourne to support each other during these difficult times.

“There are a few ways we can continue to thrive during these times,” he says.

“First and foremost, you must maintain and nurture your network since it is the legs of your business, and without it, you are starting from scratch. Secondly, you must maintain your work routine. Thirdly, you must nurture your mental and physical health.”

Maintaining a Network

It is crucial to keep in touch with clients at times of economic inertia. Particularly if you have a limited client database, you should give each one a call once a month. The goal of these calls should be to check on the well-being of your clients. During these calls, you could ask two questions:

  • How are things going?
  • Is there anything I can do to help?

It is easy to get lost in the numbers and figures in business, particularly when the times get hard. Checking in on your clients regularly like they are your friends can help solidify business relationships and make things easier for everyone.

Maintaining a Work Routine

When the work ceases, it is tempting to stay in bed, watch television and invest hard-earned money into Uber Eats for a carbohydrate based (rather than financial) return on investment. The trouble with this approach is that when the work starts again, it can be challenging to get back to the desk. You may ask, what is the point in getting up at 7.30, having a shower and getting to your desk if there is nothing to do? The thing is, there is always something to do. Right now, I am writing this blog post. Am I getting paid for this? Certainly not directly, but it is one of many passive activities that a business owner can engage in while there is no ‘direct’ work.

Writing blog posts, social media outreach, digital marketing and web design are just some of the activities that small business owners outsource since they do not usually have the time to engage in them. Even if you do not know how to do these things, you can learn. Education is critical to the evolution of a small business. If you don’t do anything else, why not wake up and learn some new skills?

The point here is that there is always something to do as a small business owner, even when the direct work has finished.  So, get up, and get working on it.

Mental and Physical Health

There is simply no comparison between running a business as a healthy person and running it as an unhealthy person. It may seem obvious, but physical activity, a good diet and good mental health practice can help keep your mind in the zone. For younger people, this can mean going to the gym. But even for the older folks, a morning walk or yoga session can help a lot. Mental health practice can mean getting regular counselling or doing daily meditation. Such things are now totally mainstream among successful entrepreneurs. Even in ordinary times, they can push us to be more successful. In these difficult times, they are indispensable.

Things are tricky right now, but it doesn’t mean that our business lives must implode. By following these three paths, we can practice seeing times of passivity as times of opportunity instead. The way things are depends entirely on our perception of them. If we can keep this in mind and keep our momentum going, there is no doubt we can emerge better and stronger than before.

If you would like more information about how Bee Sure Financial can help you contact us today on 0434 113 962.

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