Imagine this.
After two years of growing your business things are finally taking off. You have comfortable
income to cover expenses, employ staff, open up offices, and even take on a mortgage. Then,
the economy crashes. About 70% of your business dries up. You watch your company account
dwindle, take on salaries from your personal account, and even then have to go through the
excruciating heartbreak of laying off loyal employees you love. And after two years of building
the business from the ground up, you find yourself starting all over again.
This was me with The Kelly Group back during the recession of 2008. It taught me alot about
resiliency and preparing for the highs and lows that are guaranteed to accompany
entrepreneurship. I see many people right now navigating a post-pandemic economy, myself
included, and wanted to share the core components that have kept my spirits high and company
in business, even when it felt impossible.
- The power of WHY.
It’s easy to be optimistic when things are going well. But it’s when the going gets tough that
matters most. Fear triggers our fight-or-flight response. While taking flight seems like the more
enticing option, this is when you need to fight for your dreams. This is what helped me. I kept
going back to WHY I started my business and WHY it was important for me to keep it. Thoughts
of my clients, my daughter, and my staff ran through my mind. I wanted to show up fully for
them, and fully for myself.
So if you’re in a tight situation right now, remember that this too shall pass. Anchor into your
why power and regulate your nervous systems to shield yourself from the inevitable fear
response. When you have a clear mind and an empowering why, you’re guaranteed to find a
solution! - Allow mistakes to become your teacher.
If you want success then you have to befriend failure. There’s no way around it, they go hand in
hand. If you listen to the stories of the greats, you’ll notice they all encountered some form of
adversity before finding success. In fact, it was usually the setback that activated the comeback!
Instead of accepting defeat, use these moments to learn and grow. How can you do better?
What was missing from your original approach that allowed this to happen? How can you
reframe this situation in your favor? These moments aren’t put in your path to destroy you,
they’re put in your path to teach you valuable lessons…that is if you’re willing to accept the
assignment!
Some of my greatest lessons were to not get too comfortable when things were going well, to
always be working on the basics, and to future-proof my business during the highs.
- Redirection & revenue streams.
Just because a business plan is successful once, doesn’t mean it will always be. You have to
remain agile as things change. From internal systems to global conditions, there are a multitude
of factors that can directly or indirectly impact your business. The key is to stay as far ahead as
you possibly can. Take consistent inventory of what is working and where there’s room for
improvement. And for the things that are unpredictable and out of your control, trust that you
have everything within and around you to figure it out.
Back in 2008, I knew that redirecting business was going to be critical if we wanted to keep our
doors open. The systems we had in place before simply weren’t going to cut it for the current
conditions. I also knew that relying on one source of revenue wasn’t going to fit the new future-
proofing model. This was when I decided to write my first book. It was a great way to meet folks
where they were at financially as well as generate passive revenue — every dollar counts!
So get in the habit of asking yourself — what other untapped revenue streams are available to
me? How can I maximize these opportunities and better serve my clients? Asking the better
questions will always lead to the better answers.
It’s true that entrepreneurship is not for the faint of heart, but you were made for this! Bank on
your dreams and keep moving forward. It will all be worth it! And if you’re looking for an
additional pick-me-up to assist you on the entrepreneurial roller coaster, be sure to purchase a
copy of my newest book, Making It Happen. I share all the lessons I learned, as well as
inspirational stories, in the hopes that you can learn from my mistakes and find your own
success amidst challenges. Together, we’ve got this…I’m cheering for you!
