There’s probably no one thing that causes you not to love your business. But a creeping combination of many things, and a deep sense of frustration that things could be different. So here’s an exploration about why you could be stuck in a practice you don’t love.
Part of the frustration, like it did for me, was when I thought my business should be an asset. But in fact, it was a job plus plus, and my boss (me) was the worst boss I’d ever had.
For your business to be an asset, you need to be working on it, and turning it into an asset. There’s a saying that what it’s growing is dying. So if all you do in your business, is the actually revenue producing work, and you cannot find time to improve it, it won’t improve.
For you to find improvement in your business, you need to work on the improvements yourself. You cannot be frustrated by the situation, and yet just keep doing what you’ve always done. In fact, isn’t that another saying – doing the same thing over and over again, expecting a new result, is the definition of insanity!
Maybe your business is driving your insane. You see no improvements. You are working all the time. And the costs of doing business are going up, while your clients want things done faster for less. Clients are demanding efficiency and lower prices, which is squeezing the little profit margin that you had anyway. Yes, I understand this frustration.
Then, to make matters worse, you start trying to make improvements and finding moments to work on your business instead of in it. Yet, you start implementing changes that you feel you ‘should’. You see others doing these things – like having a Facebook Group, or doing webinars, or having an email newsletter – yet when you implement them, they don’t work for you. You don’t see any changes.
There are many people selling you the next ‘shiny object’ or ‘silver bullet’ in business, saying that this solution is all you need to see the changes you want.
Don’t fall for it.
You’ve got to step up as a business owner, and seriously start educating yourself. You spent years getting your degree and the qualifications that you had until you went into business, yet you thought that you knew what to do in business.
What you need is to learn how to strategise, and use discernment in your implementation. You need to know your vision, and where you’re headed. Only then can you work out the tools that you need to get you there. Implementing tools and ideas without a clear strategy won’t get you any results.
It’s taken me a lot of years of coaching, mentoring, courses, and now a mastermind to feel like I’ve got some clarity. Yet, there’s always more to learn.
Now I’m coaching a few lawyers, both within my own firm, and sole practitioners, to learn more about business.
You are actually in control of your own business, it’s not in control of you. So learn, and then make the changes you need to make.