I am trying to believe that this is just a phase of entrepreneurial journey and may be you need to re-direct your energies to something else, something productive and may be something like new service development, new business development and a new business strategy.

What to do?

Find a mentor or Find a Job

Yes, going back to your mentor is a good thing to do in this situation. Finding a job may be a part time job can be a solution as money shall keep flowing. But do not give up on your attempt and the effort on your dream run.

Speak to your mentor and find out what best could be done. What edition is required in your effort strategy for business growth?

Remember, it is a difficult phase and it shall pass too. It is a phase to find your moment of truth and to get back to work.

Assess – What went wrong?

It is high time; you do an audit on the actions, performance, clients, projects and even your team in this time. You need to ascertain, what went wrong and how to do it right from now on.

It is ‘the’ most important thing to do. If you think you weren’t well paid, if you think there was a gap between what was promised and what was delivered, if you agree that it was a wrong team who couldn’t belong to your brand like you. Was it too many people onto one thing?

Or the clients you opted for were not the right ones. They had a small vision; they asked for too much in too less to pay. Do you feel you made wrong choices and may be wrong commitments in desperation to get more business?

Learn to say ‘NO’

Learn this right now. In both the cases:

If you think you took projects which were not good enough in learning, managing and earning. You need to learn to say ‘no’. Do not bend too much to suit the client specifications, infact stick to the contract as it is healthy for both client, your employees and the relationship.

If you think you made some commitments and were not able to execute them as per the promise. You need to be careful in the choice of projects you take up. Be sure of what you are offering and live up to your commitment.

Look out- What’s Missing?

 

 

 

 

 

 

 

 

Now since you are few clients old and have learnt the entrepreneurial trends, you know how markets are trending, what customers are looking for and what solutions are been looked for. Still you are not happy with how your venture is performing and you are feared to lose control & credentials of your venture.

You need to find out immediately – what is missing in your effort and work immediately to correct it.

Do you need a new Team or a new Partner?

I sincerely believe a team and a right partner can help you go places. The need for a start-up is Synergy. A good, efficient team which shares the passion to excel can help you in taking the dream project to where it belongs.

Also a right skill partner is very much required. This enables power, helps in exceeding expectation and also helps you design better offering. The current day markets need ‘Jack of all trades and master of few’ and that is the reason that an entrepreneur who is the process of re-assessment needs to identify the gaps and fill them with the best.

Don’t lose heart and keep working on your dream run.