Have there been times when you have looked at other businesses and they look far more appealing than your current business?
In my experience this tends to happen more often when business gets tough. The reality is we all know that the grass is not always greener on the other side. In reality every business has different challenges and inevitably involves doing some hard or difficult work to get through these challenges.
In tough times it can be easy to get distracted and divert your energy and attention chasing a new business venture or opportunity. The problem is, when you do this it is often your core business that suffers, making it even tougher. What if you applied the same energy and enthusiasm that you would to a new business venture or opportunity to your existing business, what kind of results would you get? A great exercise is to think of three businesses or entrepreneurs who you really admire and ask the questions “What would “X” do differently in my business?” and “What would “X” not do in my business?”
On the other hand you may have a business that is running well and you are no longer challenged by it. This is an ideal time to consider how can you make the most of this time. Is it to relax and being happy with boring but profitable? Or is it a time to consider how you can really ramp up your current business and make it more valuable, possibly refining your business model even more and getting it ready for sale? Or seriously consider other business opportunities either related to your existing business or something completely new?
Remember this, tough times don’t last, tough people do.