In 2010, rejuvenate your entrepreneurial spirit

I’m pretty sure none of us wants to read another article about the gloom and doom of 2009; we get it. It happened, and we’re digging out of it. Enough said!

What’s good about tough times is that they force you to re-evaluate why you became a business owner in the first place. Tapping into that energy that fueled you in the beginning is exactly where to focus now.

The most remarkable thing I noticed during the past year is that there hasn’t been anything predictable about anything in my industry, my clientele, or my projects. This has actually been fantastic; the level of variety and quick thinking that has stemmed from these changing times has really inspired me to be a better navigator and problem solver.

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Part of our future success depends on our attitudes right now. Taking stock of what you accomplished during the past year and how you may have survived some pretty sizable hits creates the ingredient list for an incredible new year.

I’m not one for resolutions, but I’m a big proponent of fresh ideas and new energy coming into the business every January. It just makes sense to start the new year in a positive mindset and with some restructuring in your business model and aspirations.

Ready to go in 2010

What are the ingredients of a rejuvenated, recharged and ready-to-go business in 2010?

Sustainability: We’ve learned – by having to quickly reinvent the way we work, buy, invest and salvage – that whatever we do in business, it must be sustainable. When you create a piece of your business model, look at it from all angles. It must map back to the question: “Does this last? Does this go long-term and have the right foundation under it to evolve with changing times?” Operating in a too-trendy mindset, full of ideas that are only good for right now, doesn’t sustain you long-term.

Flexibility: At some point this last year, we’ve all had to learn to bend a little – or a lot. Being rigid in business, whether around payment terms, service levels, or offerings, is an especially bad idea when the arena shifts rapidly. People need to know that you value them so much you are willing to customize certain situations to meet their needs. Although it doesn’t always feel good at the time, the reward of flexibility is that people will see you as approachable, easy to get along with, and ultimately their choice to do business with over your more tightly wound competitors.

Pipeline mentality: The “one-trick ponies” died out this year. You cannot survive in a tough market doing one thing the same way as you always have and refusing to have a backup plan. True, there are many specialized businesses that did just fine last year offering a very limited list of products and services. However, having a pipeline of prospects, ideas, networking opportunities, and ways to change gears fast if needed is a proven way of not focusing all of your attention on just a few customers. In the worst case scenario – say you suddenly lose your main clients – what are you going to do to survive? It is critical to constantly learn, seek, hunt and grow; these are essential components of being an entrepreneur, anytime.

Focus: When the world shifts, you shift, too. But don’t lose focus. Obsessing about how bad things are around you will kill your spirit. You might as well close up shop if you go down this road, as your attitude will be repellent to potential success. It’s fine to be aware of what’s going on in the world, but never forget your focus areas and where your attention will create revenue, client satisfaction and entrepreneurial rewards. The adage of “keep your eyes on the prize” could not hold more true than right now.

Personality: Your business is you. When you own a business, that organization and everything good or bad about it stems from you: your dreams, your ideas, your attitudes, your values. Even if many people work for you, you’re still at the top, trickling down the day-to-day protocol and culture to them. When things aren’t going according to plan, you have to step in first as a person and relate to people. Hiding behind rules, policies and procedures alienates you from your team and your clients. Infusing your true personality with a great attitude steers you through even the worst of times, and you will most likely keep your people on board as well.

Dawn Duncan is the owner of Broadreach Recruiting & Consulting, a Fort Collins-based firm. Contact her at 970-221-3511 or
www.broadreachrecruiting.com.