At times the world of the owner-run business can feel like a jungle. You may find yourself wanting to throw the towel in or sell the ship to the highest bidder. As multiple challenges intertwine, it can be difficult to see what is truly within your power to change and what must be overcome or accommodated. Well-meaning opinions and advice from friends and family who can only grasp a certain perspective, can actually be more exasperating than helpful. As your thinking runs away with you like a steam train what can you do to think clearly and make progress?

Firstly, do you already have an exit plan? It may seem strange but even as you depart on your adventure in business its a good idea to have rough idea of how you will extract yourself and when. Knowing this sets the tone and timing for your project. Of course it would be wonderful if we could all maximise our efforts in a sell out to a larger organisation or hand the reins over to the younger generation. This however isn’t always a viable (or enjoyable option). The sheer amount of work to make a business saleable is largely underestimated and often, even when completed barely breaks even on investment. On the other hand handing a business over can also be tricky business as its always mixed with healthy doses of pride, love and family tension; not a super recipe for calm sailing. An option less often is to achieve a particular goal, level or turnover and sell assets, extracting dividends and reward as you wind down. Beyond, a consultancy to similar businesses may continue to ignite your passion for what you do best.

But for now you are in it, up to your neck sometimes.

For every challenge (within your control) that is impacting you, what is the strategy that needs to be in place to minimise the time you spend on it but effectively deal with the problem? Often the challenge is embodied in a person or group of people. What is the behaviour pattern that they follow which continually brings this issue to your door? What is it about them that competes for your time? What strategy do you need to adopt so that this becomes less emotionally draining for you but still manages the issue?

Now for the things out of your control. Legislation changes, economic down turns, pandemics the list goes on. Things that you have never seen before require a different type of problem solving, a different way of thinking. A great coach or mentor will be able to pose questions to get you thinking about your issues in a different way. They won’t just give you an answer – you are the expert in what you do after all so its the contents of your own head that will bring about the Einstein-Like solutions. But thinking in this way without this mental trampoline is tough, rather like trying to jump clean out of quick sand. We all need a hand sometimes!

We are Monecosse and we regularly help owner-run businesses tame tigers, swallow frogs and work out the seemingly impossible. Get in touch with us via our contact page to set up a one hour free consultation without obligation: hello@monecosse.com