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Small Business Development Center
Member, Texas Tech University System The Princeton Review - 373 Best Colleges, 2011 Edition

Take your time with stressful situations

June 29, 2014

There comes a time as a small-business owner that you can’t seem to do anything right for your company.

This can be quite frustrating. Maybe you are waiting for a call or for a customer to get back into town. Perhaps it is a product you are waiting for or a service that needs to be provided. There are many reasons why we get stuck and are unable to go anywhere.

Don’t panic or do something rash. Sit down and reflect on the situation. Try to calm down and make sense of what should be done next.

A rushed and panicked mind leads to mistakes. If possible take a step back, take a deep breath and gather yourself before making decisions when in the wrong frame of mind. You don’t want to do something that you will regret.

Call a good friend and talk it out with him or her. Tell them the situation you find yourself in and ask if they have any suggestions. Reaching out to others gives you the ability to get an objective opinion. Contact a business colleague or a fellow entrepreneur. They might very well have been in the same position as you.

Many people try to solve problems on their own. Getting various opinions from others is a great way to get out of your own head to solve problems and move forward.

Once you have relaxed and gathered yourself, try turning the negative into a positive. What lesson is learned? If you can flip a negative situation into a positive one, maybe you can work on some weaknesses you have been avoiding and turn them into strengths.

This is how entrepreneurs turn failure into success. An example: If you are stuck waiting for a product that is on back order, is there something you can do such as marketing that you have put off for a while? Is there something lacking in your sales efforts? Can you work on your cash flows?

As you have heard, the whole is always greater than the sum of its parts. Small businesses, just like people, often focus on their strengths and disregard their weaknesses. Make sure all aspects of your business are working together as one strategic unit.

If sales are good, look at your accounts receivable and your accounts payable. Too many companies focus on revenue without realizing they are spending more than they are taking in. Work on balancing your small business.

There is always something to do even if you think you can’t do anything or you think everything is done. Maybe you can call a customer and thank them for their business. Call a creditor or pay a bill that you have been putting off.

If you still think you have done everything and there is nothing left to do, go to the gym and work out. It may clear your head so you can think of something else to do.

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    Business Development Specialist, BBA, Certified Business Advisor IV

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