When you start your own business, it’s hard to not let it become your baby. You’ve poured your own money, blood, sweat and tears into it. You’ve poured hours upon hours perfecting the brand, your offering, and your website.
But, for some, there comes a time when your feelings could get in the way of making difficult decisions about your business. It might be when you need to let go of a staff member because they’re underperforming. Or maybe when you realise it's time to drop a product or service offering you have that just is not making you any money.
Whatever the circumstance, it can be difficult for you to take your emotions out of the situation and do, in the end, just what is best for your business.
Think about different ways how easing the stress of strong emotions in the following ways:
Look at your metrics & analytics. Those numbers can really put a situation in perspective. Keep track of your metrics in a spreadsheet…yes, we are suggesting spreadsheets…… so you can clearly look at how each piece of the business is performing. This will help you determine where you’re killing it and definitely where you need to improve.
Take a step back for a bit and look at issues from a strictly business perspective. Pretend like you’re a third party consultant you’ve hired and look at the issue from that perspective. If you make yourself step outside of the issue and look in, it can be easier to see what is best for your business, minus your emotions that often come into play and cloud your judgement.
Closely research every decision you need to make, this will avoid you making a decision too quickly. Doing the research can give you the space, time and knowledge to help you stop and think about what you’re doing and look for support that you are making the best decision possible for the business. Look to the web, your tribe and business networks and other professional resources to ensure the best outcome for your business and for yourself.
Look at past decisions you have made and reflect on where these came from and what was the outcome – was there success or failure? What factors played a role in that success or failure? If emotions were present, how did they affect the outcome of the situation?
Take a break. Emotions run high when you’re feeling pressured, so to ensure your emotions don’t get in your way, just stand up, walk outside and take a break from the situation for a few minutes. Better still, if the decision doesn’t need to be made right away, give yourself that time to consider the options. You will then be able to come back to the situation with a fresh perspective and feel less pressure overall….and be able to make your best decision!