You have found your calling, but burnout with work is real.
You are basically Erin Brockovich looking hot in a corset top while putting some heavy-hitting lawyers in their place. You are a shark—you’ve fallen in love with what you do, but the line between work and play is completely blurred. The most mundane tasks can seem like taking a leisurely stroll through the meadows with your pet unicorn. It can be easy to overdo things and burn out with work when you’re such a passionate business owner (look at you go). That’s why focusing on business profits will give you a bit more wiggle room to take care of yourself first. We’ve looked at profit-generating recipes before, but there is even more tasty goodness in this bag.
When you’re close to burning out, you might feel lost at sea and want to cry for help, so let’s give a beacon to make money easy. For most business owners, we’re dusting ourselves off and looking nervously into the future. Pandemic pandemonium has a lasting impact on many industries, and many of us are still safe and cozy in our bomb shelters. Unfortunately, though, not everyone has the privilege of working from home or in a safe space. So, increasing the profits of your business is now more important than ever. Let’s look at some ways to focus on your business profits without burning out as a result.
Why Are so Many Business Owners Suffering from Burnout?
If you’re feeling a little sparse, you’re not alone. Burnout with work is often experienced by entrepreneurs and small business owners alike. There are so many reasons that can contribute to your stress levels: paying bills, hiring employees, filling out invoices, and taste-testing new hummus dips. Feeling like you need to do it all alone is a common trait, which means you don’t delegate tasks enough and won’t even outsource work when you know you really should. Poor management skills may also prevent you from being correctly organized, so you don’t prioritize tasks or correctly set your working hours. It could be that you’ve had lousy work or life experience previously too, but no matter what the case is, there are ways of controlling your time to cope with stress better.
What this can lead to in the work environment is poor performance and low productivity, which doesn’t help anyone. Indecisiveness or poor leadership can also occur when making important judgment calls that affect the future of your business. Eventually, you could start to feel dissatisfied with work in general and develop patterns of absenteeism. What’s even worse is your passion and drive that helps you achieve success is part of the cause of this imbalance. Unless you positively intervene somehow, the seeds of doubt can begin to grow, and you can lose faith in your own career path prematurely. That’s why it’s essential to find constructive ways to keep yourself motivated and engaged sustainably. You might even need to seek outside financial advice or employ an assistant to help you manage your time, so keep an open mind.
How to Easily Increase Your Business Profits
You might be wondering where to start, but don’t worry. We got this! Let’s take a closer look into how you can make money easy by prioritizing your business profits and making you a more effective business owner.
Play to Your Strengths
Keep calm before you get into this *enter waves of overwhelming self-doubt.* If you’re unsure exactly what the strong points to your game are, ask someone close to you, especially someone who’s worked with you for a few years. A good strategy is to position yourself in a way that plays to your strengths. This means having people around you that excel in areas you aren’t as competent in. Outsourcing and delegating tasks is the nature of working as a team, and if you don’t feel you have the ability – employ someone who does. Working within your “Zone of Genius,” as Gay Hendricks wrote in The Big Leap, will make you a far better leader in the workplace. You’ll be surprised how liberating it is when you stop pretending that you’re good at everything. What’s more, those you work with will respect your bravery by admitting your shortcomings and admire you for celebrating the skills and talents of others.
Remove those Shackles
Yes, the time has come to shake off those shackles like Mary Mary. There may be certain mental obstacles that don’t make money easy. Let’s address these right away, friends. Your mindset might need adjusting like a fuzzy old TV so you can see the vision of your success clearly. Maybe you don’t feel you’re worth it, or you’re burdened with self-doubt. As a business owner, your success requires others to trust your vision, which starts with you. The passion and self-belief you have in the ideas you implement in your business will quickly inspire others. Building confidence in those around you and helping them grow with your business is an essential part of being a good leader. Always remember that we are all human, and conquering these hurdles is simply a steppingstone across the pond to your success.
Value Your Time
The time has come, as they say. You need to audit how you spend your working day and how your employees spend theirs. Optimize your activities toward goals that generate business profits. The other managerial and administrative duties are still essential, but make sure you prioritize accordingly. Allocate the most time to tasks that involve increasing your client base or adding value to your services so you can up your fees later. Complete honesty and transparency are the key and keep in mind that when you manage your employees, you can’t be caught up in duties that prevent you from focusing on the business as a whole. So many small business owners experience burnout with work and become overwhelmed with the day-to-day operations rather than delegating and outsourcing tasks so you can keep moving. Don’t fall into that trap!
This step is a little trickier, and like one of Janet’s dance moves, it requires a bit of finesse. Passive revenue is one of the best ways to make money easy and keep those business profits on the rise. Like anything, you’ll need a little bit of know-how and patience to get it right. Some passive income streams can take 7 or 8 years to collect data, build a loyal customer base, and define your brand. It isn’t a quick fix or get-rich-quick scheme, but when you have a comprehensive plan in place, and you’ve covered your angles, it works, and more importantly, it lasts. So don’t go to the trouble of creating plans for passive income without putting the demand in place first. Sit down with your marketing team and your financial adviser and see what options they can provide for your ideas.
Products and Services Packages
Your products and services are what define your business in people’s minds. What are you the go-to business for? Take a detailed look at what you’re actually selling and how you are marketing. Package deals and larger value-added bundles provide a level of exclusivity that your clients will appreciate in the long term. The term “upgrade to premium” is one of the most commonly seen phrases in our daily lives for a reason—it makes money by splitting your customers into those willing to pay for your products or services and those who aren’t. Take your business where the money is and create different levels with your products and services. Customize them, so you are speaking directly to a specific age group or even personality type. The feeling that someone has thought about your needs is how customers will be attracted to your brand. So don’t let go of that, ever!
Having lifelong clients sustains businesses. Period. Not only that, but the chances of this customer loyalty being transferred to future generations are infinitely higher. Taking this on requires data records of what you’ve been offering your clients up until now. You can then fill gaps in the market and find out what other products or services your current customers might go for. Complementary services are important because someone can get a feel for who you are as a business and what you can offer them in the future. Without committing to the cause immediately or being roped in by a sales pitch, your customers will feel more empowered by choosing you. You need to plan for when this happens so that you have the correct type of services and products to stay relevant. A cleaning service, for instance, can add service packages for basements, attics, or walk-in closets, and even an errand-running service during the pandemic.
Positive reviews might just be the single most straightforward way to sell any product or online. It just demystifies and humanizes everything. So put this into place no matter which method you choose – social pages, Google Maps, influencer networking, or even a customized and incentivized referral system through your website. Doing this will not only establish trust between you and your current customers, but your potential customers quickly get the feeling they are an important part of something, which is the truth. An affiliate or referral plan can also serve your business by touching new ground regarding marketing, which means constant growth. Are we winning yet? Thought so. The more you share the great customer responses with new networks, the more you increase the potential for future business profits.
Now that we’ve got our heads around your new strategy, your fears of burnout with work are a thing of the past. We have a hunch that changing things up will impact your business, as well as your unconscious need to do it all. Dolly Parton wasn’t working 9 to 9 and then some. Oh, sweet summer child, you have the successful future of your company to look forward to and all the business profits that go with that. What will undoubtedly speed up the process in finding where your problem areas are is consulting a financial service provider like Alchemy Accounting (that’s us). We make money easy for you to understand so you can focus on what you’re best at—running a badass business. Chat soon!