What To Do When Growth Is Stagnant?

Growth is the lifeline of your business. Without it, stagnation occurs, and panic sets in.

Lack of growth is the first sign that your blood supply is running low- depending on your business, this could be new leads, retention, or a combination of the two. Like our body, when we do not receive a steady stream of new clients, our business loses oxygen leading to failure.  

So, what can we do when our business starts to flatline? In this article, I'll share When your business starts to flatline, I will share 7 steps to bring it back to life.

Have An Open Mindset

You must be open and honest about the problem to find a solution. An ego check is in order. As leaders, we have to see things from various angles. When we do, we may realize that our problem isn't as bad or difficult to solve as we initially believed.

For example, I work with clients who have scaled to six figures but are sometimes stuck. I often find that their primary problem is a mindset, not money or marketing—understanding that the systems, processes, and procedures that brought you to six figures won't take you to seven.

Determine The Cause, Not The Effect

Stagnation is the cause of a deeper problem. Yes, the first step has an open mindset, but it's essential to focus our attention on what will move us forward - The Cause of the problem and the actionable steps to move forward, not the effect which keeps us looking in the rear-view mirror.

Leverage Your Leadership Style

In my book, The Phenomenal Leader, I documented 31 Styles Of Leadership. When you're bringing your business back to life, it may be necessary to tap into a different leadership style or strategically move members of your team to close leadership gaps.

Operating In Your Zone Of Genius

What is your zone of genius? If you don't know, I recommend taking The Leadership Chess Test. This assessment doesn't measure intelligence but human behavior. Understanding how you respond to challenges and the areas in which you have the most natural influence is a "game-changer" —for example, I'm an entrepreneur who is highly analytical and strategic. These two areas are my zone of genius. In my zone of genius, I get phenomenal results when I can see the big picture while being detail-oriented and working on the business instead of in it. 

Look At Your Daily Actions/Habits

What are you focusing on daily? What key metrics do your team focus on in business and their personal lives? Let's be honest for a moment. Culture is a massive part of business success, this doesn't mean you have to be best friends with everyone on your team, but you must create an environment where people feel safe to take risks.

Systems

Growth is dependent on systems. When we look at our businesses, do we have plans to support the desired change? If not, then that's where we need to focus our attention. When we're in the start-up phase of business, we usually are in what I call "hunting season," which means we're chasing every opportunity that comes our way. We wear many hats and are usually the only person or one of a few people on the team. As we begin to scale, shifting our mindset from hunting to farming is essential. In other words, we want to be more strategic and have systems that automate what works.

Delegation

Lastly, as our businesses grow, we must delegate and create a team of A-players. I'm a big believer in the saying, "if you want something done right, do it yourself." But as an entrepreneur, there are only so many hours in the day, and we can't do it all. The key is to find people who complement our strengths and weaknesses.

For example, I'm very analytical but not so creative. So, I have a very creative team that can think outside the box to help me with branding, marketing, and advertising.

When growing our businesses, it's crucial to have the right people in the right seats on the bus. The goal is to build a team of A-players who are experts in their field and can help take the business to the next level.

Want more information on how to Strategize, Systemize, and Scale Your Business? Join me for The BRAND Challenge; this 3-DAY LIVE event is for Leaders and Entrepreneurs. During this challenge, you'll learn how to:

✅Utilize remote teams so that you can focus on your zone of genius

✅Create a marketing strategy that targets your ideal clients with clear, concise, and laser-focused messaging

✅Develop the leadership skills to delegate and duplicate your output successfully.

If you're ready to take your business to the next level, click here to register for The BRAND 3-Day Challenge