In this blog I’m going to talk about something soft and cuddly – business mojo, why we lose it and how to get it back.
Starting a new franchise business is very exciting. The early days are the most exciting and motivating time because your business is so ripe with possibilities.
Everything is new and fresh and fun.
But it doesn’t last forever.
When the initial excitement is over and you have to deal with everyday demands and stresses – that’s when it gets tedious.
Staff problems, IT issues, grumpy suppliers – every day seems like a challenge.
It’s tough, it’s not a lot of fun and it can be hard to come anywhere close to regaining the flush of excitement you once felt for the business.
All normal emotions and experienced by pretty much every business owner I’ve ever met (and me).
You want to love the business again – but how do you get that business mojo back?
It depends on what’s blocking that mojo in the first place. In no particular order – a few thoughts….
You’re treading water
If you’re overwhelmed by your ‘to do’ list and feel like you spend more of each day putting out fires than doing anything strategic, it may be time to go back to basics.
You need structure in your business with clear systems that minimise the number of fires that start in the first place.
Recording all the processes and systems in the business is hardly ground-breaking but it’s incredibly powerful and is a great way of getting clarity and control.
It’s pretty simple stuff, but if you want it from a fancy US business guru rather than a UK accountant – read The E-Myth by Michael Gerber.
There’s no spark anymore
If you’re not excited by what you spend a very large part of your life doing – there is something wrong.
If you can’t find the spark that got you excited about your business in the first place, you need to rediscover what you’re passionate about.
If you know that your original passion has no chance of revival, then you need to identify a new passion that will ignite your entrepreneurial spirit again.
You can’t necessarily recreate the thrill of the new business because it’s not new anymore.
What you can do is reignite the excitement by looking ahead and figuring out what the business is going to do for you from here onwards – and work out a simple plan to make sure it happens.
You have no direction
In my experience, not having a destination, an end goal, whatever you want to call it, is a massive cause of dissatisfaction.
If you don’t have a clear vision of where it is you’re trying to get to then you will go round in circles.
If all you do is go to work and do the work, with no thought of why you are doing what you are doing, then what you have is a job. A job you paid for.
Take a few hours to sit down and really think about what it is you want in life, and what the business needs to do to get you there. It will pay huge dividends.
What is your big “why”?
Ultimately, if you want your business mojo to come back, you need to get to the bottom of why you are doing what you are doing.
What’s the over-riding reason that makes you do this?
Is it money, lifestyle, a passion to help others, or a desire to change the world?
Consistently remind yourself of your “why” and even on the worst days, you still have what you need to keep pushing on.
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‘The Five Biggest Problems Stopping Franchisees Making More Money – And What To Do About Them’
Chris Martin is a chartered accountant and business advisor and has been helping franchisees create and grow wonderful businesses for over 20 years. He is a published author and has written extensively on franchisee tax issues. He passionately believes that whilst franchising is a deservedly successful business format, franchisees are often let down by their franchisors’ failure to offer support and guidance regarding the financial side of running the business. This leaves franchisees frustrated, overwhelmed and unable to grow their businesses to the extent they should. Chris has developed simple systems, support and guidance to ensure franchisees create businesses that provide them and their families the lives they so richly deserve.