I’ve had to learn how to unstick a stuck business myself and want to offer some advice. I’ve experienced plenty of pride and joy as my business grew and reached new milestones like hiring my first employee, expanding our office, hitting $1,000,000 in revenue.
All these served as highlights along my entrepreneurial journey, but at times my business also felt stuck and I was frustrated and unmotivated. Growth slowed, things became super complicated and staff were leaving. We were not achieve our goals.
Although I couldn’t articulate it then, we’d experienced the phenomenon that all businesses go through. I call it hitting the brick wall. I now know that all businesses go through a series of hitting brick walls as a normal part of growing. If any of this sounds familiar, you’re not alone. Actually, growth looks more like climbing a series of progressively taller mountains with peaks, valleys and plateaus. Really does a business growth look like a smooth diagonal line.
Unfortunately, 50% of businesses that hit the brick wall will close their doors, or their growth will simply remain flat. Some businesses maintain a stagnant life or most others struggle to survive until their owner experiences burnout and calls it quits.
Here are 6 key areas I have found useful in breaking through the Brick Wall
1. Invest in your personal and professional development.
Continuously developing your mental fitness and leadership skills can help you manage stress, relationships and performance when things are tough. You will build resilience, be re-energised and gain a new perspective.
2. Assess your current strategy.
Take a step back and review your vision and current approach. Identify areas that may need to be refined or revised to align with changing market conditions or customer needs.
3. Seek out new opportunities.
Look for new market segments or product offerings that can help you expand your reach and reach new customers.
Find ways to differentiate your products or services, or find new, innovative solutions to meet customer needs.
5. Collaborate and network.
Building relationships with other businesses and industry professionals can help you stay informed and up-to-date on industry trends and developments.
6. Analyse and adapt.
Regularly analyse your business metrics and adjust your strategy accordingly. Be open to trying new approaches and don’t be afraid to pivot if necessary.
Breaking through a brick wall in business is a metaphor for overcoming obstacles and challenges that can hinder growth and success. It is important because businesses that are able to navigate and overcome obstacles are better positioned to achieve their goals, improve profitability, and gain a competitive advantage.
By breaking through the brick wall, businesses can also foster a culture of innovation and resilience, which is essential in today’s rapidly changing business environment. Ultimately, breaking through the brick wall is about adapting to change and staying ahead of the curve, which is key to long-term success.
If this is something you are struggling with or in need of help at the moment, reach out to us directly anytime on our Contact page!
Sandra Gartner – Founder