A business in a nutshell is just a nightmare. Can most of you agree with that? Running a business definitely does have a good, a bad, and an ugly side. We don’t care to admit to the latter two, we like to tell people that running a business is all flowers and rainbows, when it’s just so far from it. But, one thing we do know, is that when the good times do come rolling in, we feel a massive benefit from it. Profits, easy lifestyle, a clear business path etc. All of these things come when the good times are rolling. When they’re not, well, it’s just a whole different story altogether. But, with business, more things seem to go wrong than they seem to go right, it’s just that when things do go well, they go reallllly well. But, whether you’ve started your own business, or you just have one big dream of doing so, you need to get to grips with the bad things that can happen, and how you can get through them. You also need to get to grips with how to make sure the good times are flowing as much as possible. Whoever you are, if this sounds like something you need, then we’re definitely here to help. Here are our views of the good, the bad, and the ugly of business, and how you can deal with all of them!
We’re going to start this one off with a positive, because nobody likes reading all about the negatives, especially when a business is possibly going through a negative time. So, first of all, think about everything good that has happened to your business so far, or if you’re only just setting up your business, think about everything that’s good with your idea at the minute. We’re going to focus on those of you who actually have your own business for the moment. One of the best things you can talk about when running your own business is the fact that people look up to you, and you’re the boss of a whole workforce that relies on you to pay them, make them happy, and ensure their well being during work, which you should be doing perfectly. But, when you have so many people looking up to you, we know you might feel the pressure. So, think of ways that you can make it easier on yourself. If you think your employees aren’t working hard enough, but you don’t want to crack the whip, have a look at 12 employee incentive programs that actually work. That way you’re giving them something to work towards rather than them having to listen to you moan all of the time, and your employees stay firmly in the good section of this article.
We also want to talk about your profit, and how you grow it. Profit is the main good thing about a business, because why else would you be setting it up if it were to not make profit. Arguably, we could have put this in any of the three paragraphs. But, to keep it in the good, it takes skill and practice. Our top tip is this. Analyse, analyse and analyse some more. If you want your profit to stay at a nice steady level, you need to make sure you’re analysing any little changes, and where they might be coming from. One good way of doing this is by having your website optimised for click conversions, so you will then be able to see how many customers have clicked on your website, clicked through sections, and actually been converted into a paying customer. If you sell tools for example, and notice that plenty of people click on your drills section, but never actually become a paying customer, then you know you need to work on that area. Work on that area, and you might notice that the amount of click conversions for that particular area go up! It’s simple really, you just need to make sure you’re monitoring anything and finding solutions for even the slightest of drops, then you’ll always be able to keep your profit in the good section!
The good also comes in the form of the rewards you’re going to get from keeping your business afloat. The key here is that it is your business, and that alone should be something good to think about. You’ve created a business, you’re keeping it afloat, and hopefully you’re earning a nice bit of profit because of it. You have the freedom to come and go from the office as you please without anyone telling you what to do, and your life generally becomes a lot more relaxed in the sense that you don’t have to answer to anyone like you used to have to!
The bad are going to come in bucket loads, we won’t lie to you. From the moment you set up your business to the moment you decide to retire, you’re going to be slapped in the face to bad. Does it mean that it will outweigh the good, no it doesn’t. But it will mean that sometimes the going is going to get tough, and you might not know what to do about it. One of the biggest things that can go wrong is a lack of custom due to your competition. From the moment you started running a business, your competition would have been your biggest problem, so all you have to do is be one step ahead of them, rather than waiting for their next move, which we know some of you will be doing. Focus on your marketing and beating them in every aspect of that. If you put in a lot of money into SEO, you’ll notice that you rank higher than them in search engines, making your company more visible and hopefully more profitable. You can also use things like Google Ads and PPC to get yourself more clicks and more custom. Paying to appear in the Ads section of a Google search is also really beneficial. You’ll notice the very top three websites of a search all have a little green AD sign next to them, and that’s where you want to try and be! You also need to make sure you’re staying one step ahead of them in terms of your designs and products. You can’t constantly wait for them to produce something better before you do, you have to be the innovation in the game that everyone else is looking up to. For example, going back to the tools example, if you sell tools that are basic and easy to use, you’ll attract those looking to buy cheap and easy tools. If you sell the highest tech drills among other tools and are always designing something new, your competitors will be the ones playing catch up!
The ugly is definitely going to come for you, but this section is going to be kept short and sweet as there are not many things ugly about business. The worst however, is losing motivation for it all. If you run a business, we know how hard it is to stay motivated sometimes, but when you lose it altogether, things just start going downhill. So, our top advice is to make sure you’re always taking plenty of time off a year, you are the boss after all, and enjoying yourself. Don’t let your company consume you, or you will lose the will to live eventually!